Addresses FIEO’s interactive session
Srinagar, Oct 13: Chief Minister Omar Abdullah reaffirmed his government’s resolve to make Jammu and Kashmir a competitive and investment-friendly destination, stressing the need to strengthen the Union Territory’s manufacturing base and address key infrastructural gaps.
He was addressing an interactive session organized by the Federation of Indian Export Organizations (FIEO) in Srinagar, attended by FIEO President S.C. Ralhan, Vice President Shrikant Kapoor, DG & CEO Ajay Sahai, regional chairpersons, board members, and other dignitaries.
The session discussed various opportunities of collaboration between J&K government and key representatives of India’s export community.
Welcoming the FIEO delegation to Srinagar, the Chief Minister said that the organization’s decision to hold its Board of Management meeting in the city was “an important vote of confidence” in Jammu and Kashmir. “Your presence here is very reassuring for us,” he remarked, adding that J&K has always valued its long-standing association with India’s trade and export community.
During his address, Omar Abdullah outlined the government’s ongoing efforts to expand investment opportunities in J&K.
“That is something, as a conscious effort, my government is trying to address so that we can attract more investment into Jammu and Kashmir, more manufacturing. Recognizing the constraints that we have, we are trying to address the infrastructure gaps,” he said.
He acknowledged the unique challenges that J&K faces due to its geography and limited resources, stating that the government’s focus is on leveraging sectors where Jammu and Kashmir holds inherent advantages. These include agriculture, horticulture, handicrafts, pharmaceuticals, IT services and electronics.
Speaking about the overall business environment, Omar Abdullah highlighted that confidence continues to play a crucial role in shaping the region’s industry. He noted, “Confidence is one of the most vital elements for business, and regrettably, Jammu and Kashmir has been deprived of it for the past 30 to 35 years.” He added, “We are doing everything possible to ensure that this lack of confidence does not define our future.”
Highlighting the resilience of the local economy, he said, “Given the extent of the challenges that we face and the disadvantages inherent to doing business in Jammu and Kashmir, we are still an economy that is growing reasonably well. Our own estimate is that our GDP will grow in the double digits, around 10–11% this year.”
At the same time, the Chief Minister expressed concern over the economic repercussions of recent events, noting that tourism has suffered a serious setback. The impact, he said, has spilled over into agriculture, horticulture, handicrafts sectors and also impacted exports.
He underlined the government’s priority to position Jammu & Kashmir as a hub for MSMEs and high-value, low-volume industries, mentioning that the region once had a budding high-tech manufacturing base before militancy disrupted progress in the late 1980s. “Prior to the militancy breaking out in 1989, Kashmir was emerging as a hub for new high-tech manufacturing industries. We believe those are the areas of economy that remain ripe for revitalization,” he noted.
The Chief Minister emphasized several advantages that could support renewed industrial growth in the region, including competitive electricity rates, an educated young workforce, and favourable policy frameworks. However, he acknowledged that the perception of the region as a risky business destination has to change for the better.
Concluding his remarks, Omar Abdullah thanked the FIEO delegation once again for their presence in Srinagar, stating:
“Your presence here does, to a large extent, enable us to try and change the perception of Jammu & Kashmir being too unsafe to visit. I thank all of you for choosing Srinagar for your Board of Management meeting, and I look forward to more such engagements that can help J&K move forward.”
Meanwhile, Chief Minister Omar Abdullah today chaired a review meeting of District Pulwama to assess the status of development works and implementation of various government schemes in the district.
During the maiden district review meeting, the Chief Minister called upon officers to accelerate the pace of project execution and enhance expenditure levels under both District Capex and Centrally Sponsored Schemes (CSS). He expressed concern over the low percentage of expenditure against the approved outlay and urged the departments to step up efforts for timely utilization of funds.
“First of all, I would like to thank the DDC Chairman and MLAs for their valuable suggestions and ideas. I have already given several on-spot directions during the review, but I have one overarching request — please pay more attention towards execution. There is lot of need for overall improvement,” the Chief Minister said, while addressing the officers.
“We are now in mid-October, and if we fail to utilize the first instalment under the new SASCI scheme by December, further funds will be withheld — which would be a huge loss for us,” he cautioned.
Omar Abdullah directed the Deputy Commissioner to closely monitor progress of approved projects and ensure that any lapses are immediately corrected. “Please keep reviewing the projects regularly. Wherever there are delays, address them promptly. We have restarted the Constituency Development Fund (CDF) for Hon’ble MLAs, but a lot more needs to be done in terms of expenditure,” he said.
