Srinagar, 11-02-2025: The Kashmir Chamber of Commerce & Industry (KCCI) has put forth a comprehensive roadmap aimed at revitalizing businesses, fostering economic growth, and generating employment opportunities in Jammu & Kashmir. In a pre-budget consultation with Hon’ble Chief Minister Omar Abdullah, a delegation led by Senior Vice President Ashiq Hussain Shangloo, Secretary General Faiz Bakshi, and Past President Mushtaq Ahmad Wani outlined key proposals designed to address economic challenges and create a more business-friendly environment. The Chamber emphasized that a strategic approach, incorporating policy reforms, financial incentives, and sustainable development initiatives, is essential to unlocking the region’s economic potential.
KCCI’s submission underscored the urgency of supporting local industries, reviving sick units, and streamlining bureaucratic processes to attract private investment. The delegation highlighted that a conducive ecosystem for entrepreneurship and innovation is crucial for sustainable industrial growth. In its recommendations, the trade body called for targeted interventions to strengthen the handicrafts sector by introducing export incentives and establishing an International Exhibition Mart, which would help artisans and entrepreneurs gain access to global markets. Similarly, it advocated for a robust strategy to boost tourism through infrastructure expansion, eco-tourism initiatives, and international promotional campaigns, positioning Jammu & Kashmir as a world-class destination.
Prior to the consultation with the Chief Minister, KCCI representatives engaged in extensive discussions with senior government officials, including the Commissioner Secretary of Industries & Commerce, DG Codes Finance Department, DG Budget, and the GeM Coordinator J&K. These meetings revolved around budgetary allocations, industrial policies, and the alignment of financial resources with economic development priorities. The Chamber stressed the need for stable policies and public-private partnerships (PPPs) to accelerate industrial expansion while ensuring ease of doing business in the region.
A significant focus of KCCI’s recommendations was on agriculture and horticulture, two sectors that serve as the backbone of Jammu & Kashmir’s economy. The delegation advocated for the expansion of horticulture, the establishment of cold storage chains, and the promotion of organic farming to enhance agricultural productivity and ensure long-term sustainability. The importance of financial relief measures was also highlighted, with the Chamber urging the government to introduce NPA amnesty schemes and facilitate easier credit access for small businesses, which would enable them to recover from economic downturns and remain competitive.
Recognizing the critical role of environmental conservation in economic planning, KCCI also drew attention to the need for responsible and sustainable development. The Chamber emphasized that wetland conservation, the development of playgrounds, and the promotion of eco-friendly tourism initiatives should be key components of the government’s long-term vision. By integrating sustainability into economic policies, Jammu & Kashmir can achieve balanced growth that benefits both businesses and communities while preserving the region’s rich natural resources.
As a committed advocate for economic progress, KCCI reaffirmed its dedication to working collaboratively with the government to ensure that Jammu & Kashmir’s business ecosystem remains dynamic and competitive. The Chamber urged the administration to consider these crucial recommendations in the upcoming budget, emphasizing that a well-structured economic strategy, backed by policy stability and infrastructure investment, can unlock new opportunities and drive sustained prosperity across the region.