JAMMU: Deputy Chief Minister Surinder Choudhary has said that the government’s push for industrial growth in Jammu and Kashmir is yielding results, with 381 new industrial units starting operations in 2024-25, generating investments worth Rs 3,887 crore and creating 10,715 jobs. Speaking in the assembly on March 15 during the debate on grants for his ministries, he outlined the government’s efforts to boost business development, expand industrial estates, and promote entrepreneurship in the region.
Choudhary said that under the New Central Sector Scheme (NCSS) 2021, Jammu and Kashmir has seen investments of Rs 10,471 crore, leading to the creation of 51,897 jobs. He added that the industrial sector, primarily driven by Micro, Small and Medium Enterprises (MSMEs), plays a crucial role in the economy, contributing 8 per cent to the region’s GDP and employing 90 per cent of the industrial workforce. Out of 7.10 lakh MSMEs in Jammu and Kashmir, 4.47 lakh are registered on the Udyam Portal, reflecting strong entrepreneurial activity.
To further support industries, the government is building 46 new industrial estates, which will be ready from March 2025 onwards, in addition to the 64 existing ones. Land for 15,994 additional industrial plots has also been identified for future expansion. Investment in industries has been increasing every year, with Rs 3,389 crore invested in 2023-24, creating 1,46,317 jobs, a 57 per cent increase from the previous year. Over the last five years, 2,031 industrial units have begun operations, bringing in Rs 10,516 crore in investments and employing 65,982 people.
The Single Window Portal for business approvals has received 8,537 applications proposing Rs 1.69 lakh crore in investments, with the potential to generate 6.06 lakh jobs. Choudhary said that Jammu and Kashmir is the first region to fully integrate its Single Window Portal with the National Single Window System, enabling faster approvals and improving ease of doing business. Under the Business Reform Action Plan 2022, Jammu and Kashmir achieved 97 per cent compliance, making it one of the top-performing regions in India.
The Handloom and Handicrafts sector remains a key pillar of the economy, employing 4.22 lakh artisans engaged in producing globally renowned products such as Pashmina shawls, Kashmiri carpets, Basohli paintings, walnut wood carvings, and embroidered items. To protect and promote these crafts, the government has introduced QR code-based certification, allowing buyers to verify authenticity. Ten handicrafts, including Pashmina, Kani shawls, and Sozni embroidery, have received Geographical Indication (GI) tags, while eight more are in the pipeline and eleven additional crafts are set to be registered in 2025-26.
Choudhary said that Jammu and Kashmir’s handicraft exports have doubled post-COVID, reaching Rs 1,162 crore in 2023-24, compared to Rs 563 crore in 2021-22. The region has also improved its ranking in the National Export Promotion Index, rising from 35th place in 2020 to 17th in 2022. To further support artisans, the government has launched the PM Vishwakarma Scheme, providing credit, training stipends, and toolkits. Jammu and Kashmir ranks seventh in registrations and third in training assessments at the national level under this initiative.
The startup ecosystem in Jammu and Kashmir is also expanding rapidly. The number of registered startups has grown from 237 in 2020 to 1,011 today, marking a 326 per cent increase. Among them, 373 startups are led by women, and over 1,600 have registered with the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI). The New Startup Policy 2024-27, launched in February, offers seed funding, venture capital, patent assistance, mentorship, and infrastructure support. A Rs 250 crore Venture Capital Fund has been established, with Rs 25 crore initially infused by the government to support startup growth.
Major infrastructure initiatives are also underway to support industrial expansion. Under the PM Gati Shakti National Master Plan, Jammu and Kashmir has ranked third in the country for mapping infrastructure data, enabling better planning for roads, industries, and other projects. Additionally, two PM Ekta Unity Malls, one in Srinagar (Rs 130 crore) and one in Jammu (Rs 125 crore), have been approved to promote local handicrafts and products under one roof.
Choudhary said that the government remains committed to making Jammu and Kashmir a leading business destination by strengthening industries, empowering artisans, and creating employment opportunities. He asserted that with new industrial estates, policy incentives, infrastructure improvements, and financial support, the region is poised to become a hub for trade, investment, and innovation.
