Investments in J&K must have land investment safeguards, create jobs for local youth: CM

Srinagar, Feb 22: Jammu and Kashmir (J&K) Chief Minister Omar Abdullah on Friday attended the Confederation of Indian Industry (CII) Jammu and Kashmir Annual Session-2025 titled "AMAZING J&K: Aspiring For New Growth Goals", organised by the CII J&K Council that brought together business leaders, industrialists, entrepreneurs, and other stakeholders, to discuss strategic actions to boost the Union Territory's economic growth and development, driving the region's competitiveness and business potential through a robust and resilient industrial and sustainable entrepreneurship ecosystem, an official statement said.

Addressing the session, the Chief Minister emphasised that such interactions are pivotal to enhancing efficiency, competitiveness, and creating business opportunities for industries through a range of specialised services and strategic global linkages.

While advocating for expanding investments in J&K, the Chief Minister underscored that such investments must be regulated by laws protecting the agricultural land and having land investment safeguards, like in Himachal Pradesh which has put reasonable restrictions and at the same time it would ensure jobs for local youth.

"It also provides a platform for consensus-building and networking on key issues," the statement said.

"The Chief Minister sought suggestions and valuable insights from the participating entrepreneurs and other stakeholders that can be incorporated into the upcoming budget of Jammu and Kashmir for the overall welfare and benefit of the public, as well as for industries, tourism, and other sectors."

CM Abdullah emphasised the need for responsible entrepreneurial practices to foster an economic ecosystem that ensures sustainability across J&K.

"The Chief Minister noted that Himachal Pradesh has adopted a strict policy in this regard and stressed the adoption of a similar policy in J&K. He commended the resilience of J&K's industry, acknowledging businesses that have endured challenging times without solely relying on government subsidies. He stressed the importance of ensuring long-term business sustainability, proposing a mechanism to track businesses' viability beyond 10 years," the statement added.

On the ease of doing business, the Chief Minister advocated for a genuine single-window clearance system, addressing concerns over bureaucratic hurdles, particularly in obtaining clearances from forest and environment boards, which hinder manufacturing growth.

He encouraged stakeholders to provide suggestions and feedback for the upcoming budget, reinforcing the government's commitment to an industry-friendly policy framework.

Minister for Food, Civil Supplies, and Consumer Affairs, Satish Sharma, also spoke at the event.

He emphasised the need to address past deficiencies and underscored the importance of promoting sports tourism, health tourism, and border tourism while leveraging Kashmir's renowned hospitality through innovative marketing strategies.