Our aim is to achieve faster, sustainable and inclusive economic growth: LG Sinha

SRINAGAR: Lieutenant Governor Shri Manoj Sinha today interacted with members of YPO-Global One, an international network of leaders and CEOs in business in Srinagar.
In his keynote address, the Lieutenant Governor highlighted the strategic, multi-faceted approach for holistic development of J&K over the last five years including economic growth, sustainability, and seamless implementation of social welfare schemes.
“Our aim is to achieve faster, sustainable and inclusive economic growth. A strategic, multi-faceted approach was adopted to tap the industrial potential of Jammu and Kashmir so as to strike the right balance between economic growth, sustainability and social development,” the Lieutenant Governor said.
The Lieutenant Governor shared the insights into J&K’s evolving industrial landscape and the emerging opportunities in the sector.
“I want the industrial growth to benefit all the citizens of Jammu Kashmir. This is my resolve. My second resolve is to ensure that Industrial growth is environmentally sustainable.
One of our objectives is to make J&K a leader in innovation to attract investments in research, IT and ITeS. We have analysed locally available skillset and natural resources in order to promote the relevant sectors as per our advantage.
For the industrial growth of Jammu Kashmir, we have focused on sectors which are the strength of the region. For example, the Tourism Sector has witnessed massive increase in tourist influx. There is immense potential in this sector for unexplored destinations, film tourism, entertainment sector, hotels and resorts and theme parks. Since we have given industry status to tourism, I am sure that the tourism potential of Jammu and Kashmir can be tapped,” the Lieutenant Governor said.
Sharing the progressive policies and initiatives of the government for promoting startup culture and women entrepreneurship in J&K, the Lieutenant Governor highlighted the positive outcomes of new Startup Policy which was launched in February 2024.
“So far more than 1030 startups have become operational in which 380 startups are led by the daughters of Jammu Kashmir. I consider this a great achievement in restoring the pride of Nari Shakti,” he further added.
The Lieutenant Governor said, the initiatives taken by the government in the past few years have doubled the export of handloom and handicrafts and horticulture products are reaching to the global market. He said, today, Jammu Kashmir has no competition in handicraft, handloom and horticulture products.
During the interaction, the Lieutenant Governor addressed the queries from YPO members on J&K’s Industrial growth.
“I think Jammu Kashmir has many factors such as economic stability, skilled labour, raw material, better incentives, enabling and safe business environment, high productivity, high potential of value addition, strong infrastructure, transparency and high level of innovation, which makes it an attractive investment destination.
Urban transformation has provided a high standard of living in almost all the cities of Jammu Kashmir. Public safety, strong healthcare system, higher education, low expense burden, high productivity, composite culture, all these systems are perfectly suitable for the operations of multinational companies in the J&K UT,” the Lieutenant Governor said.
The Lieutenant Governor said that under the leadership of Hon’ble Prime Minister Shri Narendra Modi, Jammu and Kashmir has witnessed a transformative era, fostering peace and inclusive development.
“We don’t believe in buying peace but establishing peace. J&K Police and security forces are on job. Soon we will completely eliminate terrorism and its entire ecosystem. With the ongoing efforts, I believe the Jammu region is on track to fully regain peace within the next six months,” he said.
Shri Vikramaditya Singh, former Legislator, Members of YPO – Global One and Industry leaders were present on the occasion.