BUILDING AN ENTREPRENEURIAL ECOSYSTEM IN J&K

Jammu and Kashmir, a region renowned for its scenic landscapes and rich cultural legacy, has been struggling with economic issues and a lack of employment opportunities. It has been increasingly clear in recent years that encouraging industrialisation and supporting young entrepreneurs can bring about economic change and success in the area. Jammu & Kashmir can open up new doors for prosperity and opportunity by putting a special emphasis on youth empowerment, supporting an entrepreneurial ecosystem, and embracing the industrial sectors. To advance the economy of Jammu & Kashmir, it is essential to empower young entrepreneurs. The region can give its young people the information and skills necessary for successful entrepreneurship by making quality education, vocational training, and mentorship programmes accessible to them. Aspiring entrepreneurs will be motivated to explore their business ideas if a welcoming environment that promotes creativity and taking risks is created and access to finance choices is made easier. The development of start-ups and small enterprises in Jammu and Kashmir depends on the establishment of a strong entrepreneurial ecosystem. Establishing incubation facilities and start-up hubs that offer mentoring, networking, and infrastructure support to budding entrepreneurs requires cooperation between public and private sector organisations. These programmes might act as thriving epicentres for novel concepts, which would result in the emergence of new businesses and sectors. Further promoting entrepreneurship in the area will be the provision of tax incentives, streamlining of regulatory procedures, and access to market data. Although Jammu and Kashmir is well known for its tourism potential, industry is just as crucial to the region’s economic diversification. Manufacturing, agro-processing, information technology, and renewable energy are examples of industrial sectors that offer prospects for economic expansion and job generation. Jammu & Kashmir can build a strong industrial base that meets local needs and contributes to the national and international markets by utilising local resources and expertise. This diversification will lessen reliance on established industries and create a more solid and long-lasting economic base.

Industrialization and economic change are significantly supported by the Jammu and Kashmir Industrial Policy. The policy offers a road map for luring investment, fostering an advantageous business climate, and encouraging entrepreneurship. To promote industrial growth, it offers strategies such as infrastructure improvement, energy production, skill development, and technology transfer. The strategy also emphasises social welfare, inclusion, and sustainability to make sure that all facets of society benefit from industrialisation while minimising its negative effects on the environment. Finally, encouraging young entrepreneurs and accepting industrialization as a route to prosperity can completely change Jammu & Kashmir. The region can spur economic growth and employment prospects by making investments in youth empowerment, supporting an entrepreneurial ecosystem, and utilising industrial sectors. The Jammu and Kashmir Industrial Policy, which offers a framework for luring investment, fostering a positive business climate, and encouraging sustainable and inclusive industrial growth, is essential in assisting these initiatives. Jammu and Kashmir can plough a road to a more affluent and exciting future with coordinated efforts and collaboration between all stakeholders.