Investments Must Be Regulated to Protect Land and Jobs: Omar Abdullah
Srinagar, February 21, 2025 – Chief Minister Omar Abdullah on Friday attended the Confederation of Indian Industry’s J&K Annual Session-2025 titled “Amazing J&K: Aspiring for new growth goals”.
According to a spokesperson, the event, organised by the Confederation of Indian Industry (J&K Council), brought together business leaders, industrialists, entrepreneurs, and other stakeholders to discuss strategic actions to boost J&K’s economic growth and development, driving the region’s competitiveness and business potential through a robust and resilient industrial and sustainable entrepreneurship ecosystem.
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. It also provides a platform for consensus-building and networking on key issues.
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. Omar emphasised the need for responsible entrepreneurial practices to foster an economic ecosystem that ensures sustainability across J&K.
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.
The Chief Minister said 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 ten years.
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.
Key Points from the Session
- Protecting Agricultural Land: Omar Abdullah underscored the necessity of implementing laws that safeguard agricultural land from unchecked investments. He cited Himachal Pradesh as an example, where stringent policies have been enacted to protect land while attracting investments. “We need a similar approach in Jammu and Kashmir to balance development with local interests,” he said.
- Creating Jobs for Local Youth: The Chief Minister stressed that investments must ensure job creation for local youth. He highlighted the resilience of J&K’s industries, praising businesses that have weathered challenges without over-relying on government subsidies. “Ensuring long-term sustainability for businesses is crucial,” Abdullah noted.
- Ease of Doing Business: Abdullah advocated for a genuine single-window clearance system to address bureaucratic hurdles, particularly in obtaining environmental and forest clearances. He emphasized the importance of enhancing efficiency and competitiveness to create business opportunities.
- Sustainable Entrepreneurship: The session focused on fostering a resilient industrial ecosystem and promoting sustainable entrepreneurship in the region. Abdullah called for responsible entrepreneurial practices to ensure sustainability across J&K.
- Stakeholder Engagement: The Chief Minister sought valuable suggestions from participating entrepreneurs and stakeholders to be incorporated into the upcoming Jammu and Kashmir budget. He emphasized the need for a collaborative approach to drive economic growth and development.
Conclusion
Omar Abdullah’s call for regulated investments aims to protect the region’s agricultural land and create job opportunities for local youth. By adopting responsible entrepreneurial practices and enhancing the ease of doing business, Jammu and Kashmir can achieve sustainable economic growth and development.
