Investments in J-K must have land investment safeguards: Omar Abdullah

Srinagar, Feb 21 (PTI) Jammu and Kashmir Chief Minister Omar Abdullah Friday said investments in the Union Territory must have land investment safeguards and create jobs for local youth.

Abdullah attended the Confederation of Indian Industry (CII) Jammu & Kashmir Annual Session-2025 titled 'AMAZING J&K: Aspiring For New Growth Goals' here.

The event, organised by the CII 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 the need for responsible entrepreneurial practices to foster an economic ecosystem that ensures sustainability across J-K.

While advocating expanding investments in J-K, Abdullah stressed that such investments must be regulated by laws protecting the agricultural land and having land investment safeguards like in Himachal Pradesh which have put reasonable restrictions and at the same time they would ensure jobs for local youth.

The chief minister said 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.

Abdullah stressed the importance of ensuring long-term business sustainability, proposing a mechanism to track businesses' viability beyond ten years.

He emphasised that such interactions like the one the event provided are pivotal to enhancing efficiency and 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, he added.

Abdullah sought suggestions and valuable insights from the participating entrepreneurs and other stakeholders that can be incorporated into the upcoming budget of J-K for the overall welfare and benefit of the public as well as for industries, tourism and other sectors.

On the ease of doing business, the chief minister advocated 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 the stakeholders to provide suggestions and feedback for the upcoming budget, reinforcing the government's commitment to an industry-friendly policy framework. PTI SSB KSS KSS

Source: PTI