A development path for J&K
Areas where J&K shows immense potential for economic development
Jammu and Kashmir is a place rich in flora, fauna, natural resources, forests, rivers, mountains, and so on. But the economic development in J&K has not been able to keep up with the rest of the country. According to the NITI Aayog, J&K has lagged behind most other states as far as growth of the Net State Domestic Product is concerned; growth of the Per Capita Net State Domestic Product has also lagged. But with J&K now becoming a Union Territory, economic development is expected to pick up, which was lagging despite its abundant natural resources, business potential and tourism avenues.
Agriculture:
It’s the predominant sector of J&K’S economy, supporting almost three-fourths of its population. Rice is the chief crop, followed by maize, barley and
Fisheries:
With the Jhelum River and its tributaries, and hundreds of lakes, housing multiple species of fish, it’s not only a major food source, but also a means of attraction for tourists. Fishery strengthens the productive base of the agricultural economy and generates self-employment.
Livestock development:
It is another promising area for development, as J&K has precious wealth of livestock in the form of buffalo, sheep, goat, poultry, etc. Livestock supports the rural economy with the production of pashmina shawls and other animal products, but the potential of these products has not been realised. In addition, while J&K is rich in production of milk, the development of the dairy sector needs specialised infrastructure such as farm coolers and refrigeration systems as well as basic infrastructure like power and water.
Industry:
The speedy development of J&K needs an integrated approach, including a secure environment, sound policy and good governance
J&K is not industrially advanced, and the reasons have been lack of supportive infrastructure (road, railway), militancy, as well as lack of local skilled labour. However, with it becoming a Union Territory, it’s expected that there will be more educational institutes setting up campuses in J&K, as well as industry coming in. Road and railway work has been going on for quite some time.
Tourism:
The tourism sector has played an important role in J&K’S economy, but far below its potential. Tourism can create a large number of jobs, even for unskilled or low-skilled labour, and caters to allied sectors like handicrafts, handlooms, transport, restaurants, hotels, and so on. More supportive infrastructure, better roads and more flights and trains, and, above all, peace can boost tourism in J&K, making it the envy of the world.
Recently the J&K administration announced a new industrial developmental scheme with a total outlay of Rs 28,400 crore to encourage new investment and to take industrial development to the block level. We hope it will help make J&K play a larger role in the Indian economy. The speedy development of J&K needs an integrated approach, including a secure environment, sound policy and good governance.