The Jammu and Kashmir Government during the past few years has worked hard to turn youngsters into budding entrepreneurs. Their dreams to own their own businesses are turning into a reality. Aspiring entrepreneurs are being provided with all necessary assistance to shape up their lives and eke out a living.
The single window clearance system has made things easy for the new entrepreneurs. They don’t have to run from one office to another to start their ventures, their projects are cleared and approved under-one roof.
The administration is encouraging the youngsters to come forward with their ideas and innovations and is providing them with opportunities to work on them. The new concept of allowing the youngsters to work on their ideas and innovations has changed the very idea of doing business in Jammu and Kashmir.
The ideas being turned into commercial products are providing the right environment and opportunity to innovators and startups entrepreneurs.
Incubation centres in J&K’s educational institutions are playing an important role in building and nurturing ideas for startups. The ecosystem of innovation, start-ups has been strengthened.
In 8 years, India has established 75,000 startups with 50% of them established in tier 2 & tier 3 cities providing direct employment to 4 lakh youth.
Potential ideas and new startups are contributing not only to economic growth and productive diversification, but also to sustainable and inclusive development.
Two innovative products- Saffron Sowing Machine and Seed Sowing Machine from NIT Srinagar which were developed recently indicate excellent coordination between the industry, academia and society. Both these products have received appreciation from people from all the walks of life.
The self-employment schemes introduced for the youth have made them self reliant. They are getting loans from the financial institutions and subsidies from the government to start their lives. Formalities for setting up a new unit have been brought down to minimal. The main aim of the administration is to hold the hands of the young boys and girls and show them the way.
J&K is fast turning into a business hub and the youngsters are playing an important role in it. The administration needs to ensure that the good work started by it is taken to its logical end.