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Lieutenant Governor Highlights J&K’s Industrial Growth and Development Strategy at YPO Interaction in Srinagar
SRINAGAR, April 19: Lieutenant Governor Manoj Sinha today said that Jammu and Kashmir is pursuing a strategic and multi-faceted approach to achieve sustainable, inclusive, and faster economic growth. Speaking during an interaction with members of YPO-Global One in Srinagar, the Lieutenant Governor emphasised the region’s efforts in industrial expansion, urban transformation, and implementation of welfare schemes over the past five years.
He said that the government is committed to ensuring that industrial growth benefits all citizens and remains environmentally sustainable. “Our aim is to tap the industrial potential of Jammu and Kashmir while maintaining a balance between economic growth, sustainability, and social development,” he said.
The Lieutenant Governor noted that the administration is promoting sectors aligned with local strengths, including tourism, which has seen a significant rise in tourist numbers. He pointed out the focus on unexplored destinations, film tourism, and related industries under the tourism sector, which has now been granted industry status.
He highlighted that the new Startup Policy launched in February 2024 has led to the establishment of over 1,030 startups, with 380 led by women in Jammu and Kashmir. He referred to this as a major step in advancing women’s participation in the economy.
Sinha also said the government’s initiatives have led to a rise in exports of handloom, handicrafts, and horticulture products, which are now reaching international markets. He claimed that Jammu and Kashmir has no competition in these areas at present.
Addressing queries from YPO members, the Lieutenant Governor underlined the region’s strengths, including economic stability, skilled labour, availability of raw materials, business incentives, and infrastructure. He stated that these factors make Jammu and Kashmir an attractive destination for investment and suitable for multinational operations.
On urban development, he said cities in Jammu and Kashmir now provide a higher standard of living, supported by public safety, healthcare, higher education, and a low cost of living.
He added that the leadership of Prime Minister Narendra Modi has brought changes in the region, and that peace and inclusive development are now central to the government’s efforts. “We do not believe in buying peace but in establishing it,” he said, adding that the Jammu region is on course to regain full peace within the next six months.
The interaction was attended by Shri Vikramaditya Singh, former legislator, along with members of YPO-Global One and industry representatives.
