Jammu & Kashmir's Industrial Revival: CM Omar Abdullah's Vision

Chief Minister Omar Abdullah discusses the need for an industrial package from the Union Budget to stimulate economic growth in Jammu and Kashmir. He emphasizes fostering a startup ecosystem and reviving sick industrial units, while addressing entrepreneurship as a means to combat unemployment in the region.

In a bid to combat unemployment, Chief Minister Omar Abdullah emphasized the necessity of an industrial package for Jammu and Kashmir in the upcoming Union Budget. Speaking at the J&K Entrepreneurship Development Institute (JKEDI) in Samba, Abdullah highlighted that government jobs alone cannot address joblessness in the region.

The Chief Minister announced the initiation of seed fund distribution to startups and capital grants to incubators, stressing the importance of building a startup ecosystem within the Union Territory. Abdullah pointed out that, unlike other states, residents of J&K cannot simply relocate for jobs due to incidents such as harassment of Kashmiri sellers in other states.

Abdullah elaborated on measures to revive sick industrial units and underscored the role of educational institutions and JKEDI in nurturing entrepreneurship. He also stressed the need for a streamlined single-window clearance system to reduce bureaucratic delays, promising significant improvements over the next few years.

(With inputs from agencies.)