For long the economy of J&K has remained a closed one as many investors from rest of the country were mostly reluctant to start their ventures in the erstwhile state. Any non-native businessman who wished to open an enterprise had to go through third party partnerships.
But now for the business houses and industrialists, new government policy has come as a panacea wherein they can now open up the industries across J&K following the mandatory guidelines.
This will eventually help in the economic growth of J&K while connecting an earlier forlorn economy with rest of the states. It shall homogenise and also stabilize the existing economy to a greater extent via creating more employment opportunities in different sectors.
Pertinently, the unemployment rate in J&K has broken its record for which the non-local investments will ensure that youngesters get ample opportunities to support their families. Appallingly no such requisite moves were taken in the past that mostly kept the people of J&K dependent on government jobs.
However, with new windows of opportunities opening up the people are expecting an impending economic boom. Even the tourism industry is supposed to get further investments as the statistics have revealed that Kashmir has received an unprecedented number of tourist from last year especially this year’s Tulip festival.
Moreover, the overseas investment from Gulf countries is also being seen as a game changer that can effectively lead J&K out of the economic aleination and usher in an era of economic prosperity.
