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How PM Modi's Statement Raises Sense of Contentment in the Locals of Ladakh for Business Possibilities? Prime Minister Narendra Modi welcomes the locals of Ladakh to bring in the business according to their desires and inclinations

By Vinayak Sharma

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Mid-Day

With the abundance of natural elegance and amidst arid mountains, Ladakh holds the most significant place in the country's geographical and tourism sector. Recently, Indian government along with the majority votes of both houses granted Union Territory status to Ladakh. By which, the plethora of business opportunities knocked the region.

PM Modi, in his speech mentioned about the entrepreneurs seeking Ladakh as their next business destination and said "Beginning from the BPOs to start-ups, from tourism sector to food processing, many industries can avail of investment and create opportunities for the local youth. Education and skill development will also bloom and assist the region in employment status".

He further added by turning the table towards the locals that the development in Ladakh will be based on the ambitions and aspiration of the local residents of the region, which would help them to grow and uphold their status.

Now, how can we consider new UT Ladakh, a way towards businessmen and their successful establishment in Ladakh?

5 facets would explain why Ladakh can be an appropriate region to invest for local entrepreneurs

  • Tourism: Local residents of the region are well versed with the Ladakh's geographical and lingual sections. Investing in the tourism sector will provide them with headway in entrepreneurship. Collaborating with the established tycoons of the tourism industry will uplift the locals' spirit of investing in the business.

  • Agriculture and food processing: Sectors like agro and food processing are the areas of investment which are usually owned by the residents of the specific regions. Reason behind the facts is that the land on which they develop green lush fields belongs to them and they could also utilize it in food processing units.

  • Clothing: As we know that our country has diversified culture and colors along with its local traditional wearing. So, Ladakh people will also benefit by running a business based on their home grown talent.

  • Education: This sector needs development at par basis due to low level of colleges and school development in the region. Also, if employment would persists in the region it would only after the appropriate education to the locals of Ladakh

Stanzin Thupstan, Local serviceman cum business aspirant from Changsha region of Ladakh mentioned his point by saying that "Yes, being a local from Ladakh, I support PM's statement of keeping abreast locals' aspirations to bring entrepreneurship and develop the region according to their desires. Adding to this, I would want the government to set up the education sector to prepare locals' at their best and appropriate for the future advancement and development of the region, otherwise it would be like a non racing car competing in a world class racing tournament. As a local, I would also want the future companies to hire and give 95% of employment to the locals of Ladakh.

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

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