SRINAGAR: The Kashmir Chamber of Commerce and Industry (KCCI) has urged the Jammu and Kashmir government to prioritise job creation in the upcoming budget, citing alarming unemployment levels in the region. During a pre-budget consultation with Chief Minister Omar Abdullah at the Civil Secretariat, the KCCI delegation, led by Senior Vice President Ashiq Hussain Shangloo, Secretary General Faiz Bakshi, and Past President Mushtaq Ahmad Wani, emphasised that over 17 lakh people, particularly youth, are currently unemployed.
To address this crisis, KCCI proposed a series of budgetary interventions, including targeted investments in skill development, promotion of entrepreneurship and start-ups, and incentives for the private sector. The delegation stressed the need for policy measures that create a conducive business environment, facilitate industrial expansion, and revive struggling sectors such as handicrafts, horticulture, and tourism.
The Chamber also raised concerns over the declining credit flow to businesses in Kashmir, urging the government to direct banks to ease lending norms, especially for small and medium enterprises. They called for interest subvention schemes, tax rebates, and financial support for businesses hit by economic downturns and natural calamities.
In its submission, KCCI outlined a structured roadmap focused on reviving businesses under stress while simultaneously fostering economic growth. The proposals also included recommendations for infrastructure development, sustainable agriculture practices, and environmental conservation. The Chamber called for incentives to boost industrial investment in Jammu and Kashmir and sought special budgetary allocations for technology-driven industries.
Ahead of the meeting with the Chief Minister, KCCI representatives held discussions with senior government officials, including the Commissioner Secretary of Industries and Commerce and senior finance department officials, to align their proposals with budgetary planning.
KCCI also underscored the importance of environmental sustainability, calling for the preservation of wetlands, the development of playgrounds, and enhanced tourism opportunities. The Chamber stressed that the economic growth of Kashmir must align with environmental conservation to ensure long-term sustainability.
The delegation further demanded a strong focus on infrastructure, particularly better road connectivity, uninterrupted power supply to industries, and modernisation of transport facilities. They highlighted the need for industrial parks, improved logistics networks, and incentives for renewable energy adoption.
KCCI expressed hope that the government would incorporate its recommendations in the upcoming budget to ensure sustainable economic recovery and employment generation in Jammu and Kashmir.
