G20 igniting socio-economic growth in Kashmir: A thriving South Asia beckons

INTERNATIONAL DESK: The prospect of hosting a G20 summit in Jammu and Kashmir presents unparalleled opportunities for the region, instilling hope for renewed stability and prosperity.

The G20, an international forum comprising of 20 major economies, focuses on policy discussions and financial stability. The G20 countries, which are the world’s largest economies, collectively account for a significant share of the world economy. According to the World Bank data for the year 2020, the G20 countries had a combined Gross Domestic Product (GDP) of approximately USD 82.8 trillion, which represents around 74 per cent of the world’s total GDP of approximately USD 111.6 trillion.

Such a high-profile occasion could usher in a host of long-term benefits that could potentially transform Jammu and Kashmir’s socioeconomic landscape. Indeed, the impending G20 summit in Jammu and Kashmir represents a momentous opportunity for the world to witness the unparalleled magnificence and potential of this stunningly beautiful region, replete with opulent cultural heritage, strategic location, and pristine natural environs.

It is imperative for the region to prioritize impressive investments such as infrastructure expansion, healthcare, education, and skill development to crystallize this vision. This sensational summit represents an unprecedented moment for the region; an opportunity to leverage strategic alliances and partnerships, harness global attention and advance towards self-sustaining economic growth, attracting foreign investment, and paving the way for fresh and exciting opportunities for the local population.

Hosting the G20 summit will position Jammu and Kashmir at the heart of diplomatic relations and foster cooperation. Delegates will gain first-hand knowledge of the region, providing valuable insights into the challenges and growth potential. The summit will provide a platform for Jammu and Kashmir to showcase its resources and potential, establishing connections that can bolster sustainable development.

“Mey aatishe chinar hu, mey lal ded ka Kashmir hu,Mey sadiyon se jiyun yahan, mey bahaduru ka watan hu.” “I am the fiery Chinar, I am Lal Ded’s Kashmir,”I have lived here for centuries, I am the homeland of the Braves.”

In recent years, Jammu and Kashmir have grappled with political and security concerns. The G20 summit will act as a catalyst for greater stability and peace by fostering mutual understanding among the participating countries. The gathering of international leaders in the region is a paradigm-shifting opportunity to influence policies that could lead to lasting peace and stability in Jammu and Kashmir. I remember a beautiful verse that highlights the deep roots and historical significance of Kashmir in times when the world’s biggest summit is supposed to be held.

Furthermore, the summit represents a unique and unparalleled opportunity for promoting harmony and stability throughout the region. Policy dialogues among international leaders could very well usher in an era of lasting peace, guiding the region towards sustainable development. Investing in healthcare, education, and skill development would empower the local population with the necessary knowledge and expertise to exploit the opportunities arising from the summit, enhancing their well-being and augmenting economic growth and social development.

The region can leverage the event’s global reach, raising its profile and attracting investment, catalyzing growth. According to the World Trade Tourism Council, the tourism industry’s contribution to India’s GDP is expected to be USD 460 billion by 2029. Jammu and Kashmir’s natural beauty and rich cultural heritage make it an attractive tourist destination, and the summit provides the perfect opportunity to promote it as such.

The democratic nature of the G20 summit, which places a strong focus on free discussion and a diversity of viewpoints, can result in more well-informed decisions and solutions to economic problems. Additionally, making investments in the region can promote economic expansion and development, ultimately resulting in a better future for all.

The G20 summit will offer a chance for world leaders to get together and talk about the best ways to invest in the region and encourage the expansion of economies. By making investments in the region, the G20 can contribute to job creation, increased access to healthcare and education, and social stability–all of which are essential for establishing a more prosperous Jammu and Kashmir. It will certainly promote a constructive and cooperative climate that will lead to a brighter future for all.

The G20 summit in Jammu and Kashmir promises to initiate a tidal wave of transformative outcomes, setting the region on a new trajectory towards stability, economic growth, and social development. As Brazilian author Paulo Coelho once wrote, “When you want something, all the universe conspires in helping you to achieve it.”

If Jammu and Kashmir seizes this opportunity with determination and conviction, the G20 summit could prove to be a momentous turning point in the region’s history, offering a unique chance for an enduring and sustainable transformation. The region must not let this moment slip by and must prioritize investments in infrastructure, healthcare, education, and skill development. In doing so, Jammu and Kashmir can unlock their true potential, advance self-sustaining economic growth, and promote global harmony and stability, thereby setting a magnificent and inspiring precedent for emulation by others.

I remember some beautiful verses that highlight the significance of Kashmir.

“One glance at this paradise, a moment in its embrace, Kashmir’s beauty seizes the soul, etching memories one cannot erase. A land of captivating beauty, for centuries in hearts it will shine, This heavenly oasis called Kashmir, a testament to the divine.”

The author is a former Member Legislative Assembly, Jammu and Kashmir. (ET)