It needs to be taken into account that a very important event has taken place in the area of economy with the government’s decision to reserve approximately 5,000 Kanals of land for establishment of various industrial estates in different districts of Kashmir province with proposals of 9,661 Kanals of land in Jammu province.
Such industrial estates, without a doubt, are a right step towards eradicating economic stagnation and unemployment from the region. Jammu and Kashmir has much natural beauty and more potential strategic locations wherein it can be utilized as a hub for industries such as food processing, handicrafts, textiles, and tourism-related enterprise.
The government dreams of creating these exclusive industrial pockets where investments can be attracted, local entrepreneurs can be promoted and jobs for the youth often relegated to those status by the industrial backwardness of the region would be opened.
It coincides with the more comprehensive vision of integrating Jammu and Kashmir into the Indian economy. Such industrial estates can also be witnessed as a platform for sustainable development by innovation inertia with in direct impacts to the killer sectors alive with economic dynamism.
Surely, if handled adequately that way and with an open-ended consultation process, this would drag the territory into that bright new socio-economic trajectory.
Yet, the journey does not halt here; it is equally important that the industrial growth should strike a balance with the local aspirations. Therefore, it becomes imperative for the Government to engage in an indefatigable consultation process with a bouquet of stakeholders-such as local citizens, environmentalists.
Small and medium enterprises are also to be taken very seriously, as they take centre stage in any local economy; and large industries equally depend on SME well-being.
The policies should empower local entrepreneurs and artisans to face challenges and adjust to the new industrial ecosystem. Regular monitoring and evaluation commissions will be required to address grievance-related issues, observing the projects against the intended objectives.
The earmarking of land for industrial estates in Jammu and Kashmir is a bold initiative that would transform the economic landscape of the region.
