When the Government of Jammu and Kashmir announced its Policy for Promotion of Foreign Investment in 2022, it was seen as a forward-looking step to transform the region’s economic landscape. The initiative promised to bring global capital, advanced technologies, and collaborative ventures that could redefine Jammu’s industrial future. Three years later, however, the reality falls short of that early optimism. Despite the potential and preparation, no foreign investor has yet established a project in Jammu, and what was once envisioned as a cornerstone of industrial growth remains largely confined to documents and declarations. The gap between ambition and achievement points to deeper structural and strategic challenges that need careful reflection and course correction.
A telling example of this unrealized vision is the 48 kanals of prime land at the Exhibition Ground in Jammu, which was earmarked exclusively for foreign investment projects. Only one company, M/s Magna Waves Buildtech Pvt Ltd, was allotted 24 kanals of this site, but even after several years, no construction has begun. The rest of the land remains unused, enclosed by fences and silent, while the promise of international investment remains unfulfilled. The contrast is striking: just across the road, commercial spaces, malls, and hotels are thriving, creating jobs and contributing to the local economy. Nearby, the Tawi Riverfront Phase II project is gearing up to become a tourism and leisure hub. Against this backdrop of activity, the stillness of the foreign investment site feels like a missed opportunity. The Exhibition Ground itself has a rich legacy. Once a vibrant center for trade fairs, cultural events, and community gatherings, it now stands underutilized, symbolizing delays and indecision. The situation is compounded by the long-stalled “Jammu Haat” project, another ambitious initiative located within the same premises, which remains unproductive despite significant public investment. Together, these examples reflect the need for stronger planning, better follow-up, and a more dynamic approach to translating policies into projects. It is not as though Jammu lacks the advantages needed to attract foreign investors. Despite Jammu’s peace, strategic location, strong connectivity, and massive tourism potential, foreign investors remain hesitant. Government outreach, including delegations abroad, has yielded little success, highlighting the urgent need for introspection and a strategic realignment to convert these natural advantages into tangible investment opportunities. The fact that a prime urban site in the heart of Jammu has not attracted a single major foreign project in three years suggests that something is amiss in the way the policy has been marketed and implemented. Investor confidence, ease of doing business, and targeted promotion are all areas that may require renewed focus. To move forward, it is crucial that the government prioritizes the effective use of land and resources already available before expanding further. A high-level committee could be tasked with identifying the specific barriers that have hindered progress, whether they are regulatory, infrastructural, or procedural, and recommending practical solutions. The focus should shift from general promotion to a more sector-specific approach, targeting industries where Jammu has inherent advantages, such as tourism, healthcare, education, and logistics. Foreign investment is about more than capital; it brings with it new ideas, innovative practices, and global business models that can invigorate the local economy. It also fosters entrepreneurship, creates employment opportunities, and enhances the region’s competitiveness. Jammu is well-positioned to benefit from these advantages, but only if intent is matched with sustained action. By strengthening policy implementation, improving investor outreach, and ensuring a supportive ecosystem, Jammu can still turn its FDI vision into reality. The opportunity remains within reach, what is needed now is a thoughtful, determined, and collaborative effort to transform potential into tangible progress.
At this critical juncture, it is imperative that the government rethink its approach and move beyond the narrow confines of waiting endlessly for foreign investors. The 48 kanals of prime land at the Exhibition Ground, along with the adjoining land under the Central Market in Jammu, represents one of the most valuable urban assets in the Union Territory, an asset that should not be allowed to remain idle any longer. Instead of leaving it fenced and forgotten, the government should proactively transform this strategic parcel into a state-of-the-art commercial and recreational hub that reflects the aspirations of a modern Jammu while preserving its cultural soul. A world-class shopping and lifestyle complex housing retail outlets, food courts, entertainment zones, multiplexes, exhibition halls, and start-up incubation spaces can inject new economic energy into the city, create jobs, and attract domestic and international brands. Moreover, by designing the complex as a grand gateway to the old city, it can serve as a symbolic bridge between Jammu’s rich heritage and its modern ambitions. Integrated with green public spaces, cultural plazas, and pedestrian-friendly zones, this project could become a vibrant urban landmark, a place where commerce, culture, leisure, and community converge, and redefine Jammu’s urban identity for decades to come.
-Bold News Editorial Desk