SRINAGAR, MAY 15: Chief Secretary, Atal Dulloo, today chaired detailed consultations with key stakeholders to devise a comprehensive strategy and institutional platform aimed at accelerating the economic growth of Jammu and Kashmir by strengthening core sectors including Tourism, Agriculture, Handicrafts and Industry.
The high-level consultative meeting was attended by Additional Chief Secretary, Finance; Additional Chief Secretary, Public Works Department; Regional Head of RBI Jammu; Managing Director, J&K Bank; Director, IIM Jammu; Commissioner Secretary, Industries & Commerce; Secretary, Skill Development, Revenue and Employment Departments; besides representatives from BISAG-N, RXIL and other official and non-official stakeholders.
During the deliberations, the Chief Secretary underscored that the primary objective of the meeting was to evolve a unified mechanism capable of bringing all stakeholders onto a common platform for giving a major boost to the economy of Jammu and Kashmir. He observed that several initiatives are already underway across different sectors and stressed the need for convergence among them to maximize their impact.
Highlighting the ongoing interventions of the government, the Chief Secretary referred to the Holistic Agriculture Development Programme (HADP) for Agriculture, MSME Health Clinic and Raising and Accelerating MSME Performance (RAMP) for Industry, Mission YUVA for entrepreneurship promotion and the Homestay initiative for Tourism, besides several Government of India schemes aimed at supporting these sectors.
He emphasized that the present need is to create a single integrated ecosystem that takes into account the strengths and challenges of all sectors and works in a convergence mode to support economic verticals such as Tourism, Agriculture, Industry and Handicrafts in a coordinated manner.
The Chief Secretary further proposed that the existing Mission YUVA framework, including the Small Business Development Units (SBDUs) functioning at the district level, along with the MSME Health Clinic established under the RAMP programme, could be reoriented and leveraged to provide easier access to credit, expert advisory services, capacity building and sustained handholding support to aspiring entrepreneurs and enterprises across sectors.
He observed that all these sectors fundamentally operate as economic enterprises with the common objective of achieving growth and profitability, and therefore require a unified institutional mechanism capable of continuously assessing their health and extending timely support for their expansion and sustainability.
Stressing the importance of financial inclusion and institutional support, the Chief Secretary called for optimum utilization of various Government of India schemes and frameworks including the New Credit Linked Guarantee Scheme, Agriculture Infrastructure Fund, local Industrial Policy initiatives, RBI-sponsored Unified Lending Interface (ULI) and the Trade Receivables Discounting System (TReDS). He said these initiatives could significantly strengthen support systems for farmers, traders, artisans, industrial unit holders, hoteliers, homestay operators, self-help groups and other farm and non-farm enterprises across Jammu and Kashmir.
To carry the initiative forward in a structured manner, the Chief Secretary directed constitution of a core team of relevant stakeholders to be headed by the Additional Chief Secretary, Public Works Department, with representation from the Employment Department, RBI, J&K Bank, IIM Jammu and BISAG-N for steering the proposed framework towards achieving the desired objectives.
He stressed the need for initiating the process without delay and resolving bottlenecks progressively through collective efforts and institutional coordination. He also noted that a separate committee headed by the Additional Chief Secretary, Finance is currently working on framing the new Industrial Policy for Jammu and Kashmir, adding that the proposed integrated framework would complement these efforts and help economic sectors flourish in accordance with the aspirations of local entrepreneurs and business communities.
Other stakeholders participating in the meeting also shared their suggestions and expressed confidence that the proposed strategy, with coordinated efforts from all concerned departments and institutions, has the potential to emerge as a transformative initiative for the economy of Jammu and Kashmir on its successful implementation on ground.