Jammu and Kashmir emerges as `powerhouse of prosperity’ in 3 years

INTERNATIONAL DESK: Jammu and Kashmir’s new industrial policy has proven itself to be a turning point in the history of the Himalayan region as it launched a “golden period” for industrial development in the Union territory with an outlay of Rs 28,400 crore.

It has been noted that several conglomerates across the country have invested in the UT after the abrogation of its special status (Article 370) on August 5, 2019, which also bifurcated the erstwhile state into two Union territories — Jammu and Kashmir and Ladakh.

Despite the investors being keen to set up their ventures here, no outsider could purchase immovable property in Jammu and Kashmir as it was considered a “no-go area” under Article 370 of the India Constitution, which was a temporary provision.

Prominent conglomerates like the Lulu Group, Apollo, EMAAR, and Jindal are among the few business groups that have invested in the Union Territory in the recent past.

Moreover, the J-K administration has signed several Memorandums of Understanding (MoUs) with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, Century Financial, and Noon E-commerce, respectively.

So far, the UT has received proposals worth Rs 52,155 crore for investment in one year and many more are coming, which would continue to benefit the people of J-K.

The people here are availing the benefits as Prime Minister Narendra Modi took this bold move to end the 70-year-long status-quo of the erstwhile princely state which has now opened it to the world.

PM Modi and Union Home Minister Amit Shah on August 5, 2019, had assured the people in the Himalayan region that a new dawn has broken out here and both the leaders have kept up their promises by putting Jammu and Kashmir on the path of peace, prosperity and development.

The region has now become the most preferred place for investors with the huge financial packages for industrial development as the incentives offered have attracted them (investors).

During the past three years, the government has been able to build a business-friendly climate for investors and have synchronised the aspirations of the youth of the Union territory with the aspirations of the country.

The introduction of new investment policies, which have created tremendous employment potential for the coming generations, have played their role in helping the J-K emerge quickly as a powerhouse of prosperity.

People here are striving hard to access the immense resources and talent to uplift their standard of living.

For the transformation of the state, from a conflict zone to a vibrant region, the security forces have played a pivotal role to end the uncertainty and chaos that prevailed in the Himalayan region from 1990 to 2019 due to Pakistan-sponsored terrorists and separatists calling the shots.

Terrorism has reduced significantly now in the UT as the sacrifices rendered by the security personnel while fighting terrorism have led to the return of normalcy.

J-K police personnel along with the Central Armed Forces’ jawans have fought terror to bring it to its logical end and pushed terrorists sitting in Pakistan to the brink.

This improved security scenario has made the industry and investors believe that their investments are secure here and the fear of the gun has vanished.

People of J-K also deserve credit for supporting the government moves and for raising their voice against terror.

In the past three years, the government has helped local business persons to consolidate their position by providing them support.

A new world has opened up for the youth as they are being provided with financial assistance and the requisite training to become successful entrepreneurs. In the ongoing fiscal year, 53,299 aspiring entrepreneurs have been granted financial assistance of around Rs 1,840 crore.

The government is working on a two-pronged plan for building an entrepreneurial ecosystem in J-K as a result of which several reputable investors are investing and assisting new entrepreneurs in turning into job providers.

According to the official figures, 5.2 lakh jobs were created through self-employment programmes in the last three years across Jammu and Kashmir.

Under the Mission Youth programme, young boys and girls are shaping up their careers through schemes like Mumkin, Tejaswini, Rise Together and Parvaaz.

The women are also being made financially independent through various schemes including Hausla, Saath, Umeed and Home Stay programmes. Notably, as many as 5 lakh rural women have been empowered through the Self-Help Groups, which addresses the sense of insecurity and despondency among them.

Moreover, there are several initiatives that were taken after the abrogation of Article 370 and have served as an eye opener for people who were terming Article 370 as their shield for 70 years.

Three years ago, no one had imagined that J-K could turn into a business hub and that big business houses would arrive in the Himalayan region. The sincere efforts that have been put in by the Central and UT governments have proven beyond doubt that “nothing is impossible.”

PM Modi and Union Home Minister Amit Shah have pulled J-K out of the woods and have sent a clear message to the adversary that the UT’s people are an integral part of India’s development journey.

They have given priority to the common man, who has also reciprocated.

The ground situation in J-K has changed and the change has opened up new vistas for the people, who faced a Pakistan-sponsored onslaught for three decades. The change is irreversible and Jammu and Kashmir’s emergence as a powerhouse of prosperity is ample proof of it. (ANI)