Jammu and Kashmir Economy
The Jammu and Kashmir Economy depends mostly on traditional form of occupation. Unaffected and unaltered by modern day industrial developments and changing times, the indigenous traditional occupations of farming, animal husbandry and horticulture forms the backbone of the economy of the state of Jammu and Kashmir.
A state affected by continued violence and insurgency, the economy of Jammu and Kashmir is an undeveloped one. However in the recent years, the government of Jammu and Kashmir has taken several significant steps to strengthen the financial condition of the state and improve the standard of living of the indigenous local inhabitants.
Farming is one of the predominant economic activities of the state. The majority of the native population depends on primitive forms of shifting agriculture. The valleys of the region form suitable grounds to grow various kinds of crops that earn a large chunk of revenue for the state. Another important economic activity of the state of Jammu and Kashmir is animal husbandry.
Apart from farming the undulating lands of the state, most of the local inhabitants also keep many animals like sheep. Sheep rearing is an important industry of the region. The fine quality of wools produced by the sheep are used for weaving colorful and attractive woolen carpets, shawls and other woolen garments that form an integral part of the handloom products of the state.
The other important economic activity of Jammu and Kashmir is horticulture. Horticulture is one of the budding industries of the state that earns large revenue. The favorable weather helps in the production of many kinds of fruits.
The state government of Jammu and Kashmir has turned its attention to the various infrastructural amenities of the region. Roads, power, health, primary education and water supply are some of the important areas that need the urgent attention of the state government.
The Jammu and Kashmir farming is an important economic activity of the state. The majority of the indigenous local population of Jammu and Kashmir depends on agriculture and its related activities to earn their livelihood.
Most of the districts of Jammu and Kashmir are unaffected and unaltered by the industrial developments of the modern era. With no other major source of income, a good number of the indigenous population of the state depends on the traditional occupation of tilling the land. The salubrious weather and fertile land of Jammu and Kashmir produces several crops that help the state to earn a large amount of revenue.
The state government of Jammu and Kashmir has taken many decisive steps in the field of farming and allied activities to increase the agricultural productivity of the region. The Department of Agriculture of Jammu and Kashmir imparts the farmers of the state with modern technological knowledge of growing variety of crops.
One of the most important departments of the government of Jammu and Kashmir, the Department of Agriculture has brought about a drastic change in the economic scenario of the state. Headed by Secretary and Principal Advisor of the Ministers of the Department of Agriculture, the government of Jammu and Kashmir has devised several modern technologies to improve the quality and quantity of pulses and oilseeds production.
The Department of Agriculture also takes note of the proper distribution of pesticides, fertilizers and improved quality of seeds to the agriculturists of Jammu and Kashmir. Under the strict supervision and able guidance of the Department of Agriculture, the Jammu and Kashmir farming will help to further strengthen the economy of the state. The Jammu and Kashmir Economy is heavily dependent on the farming and agricultural sector.
The Jammu and Kashmir animal husbandry forms the backbone of the economic structure of the state. Being continuously affected by insurgency and militant activities, most of the districts of Jammu and Kashmir have remained unaltered by the rapid industrialization of the country.
The indigenous traditional occupation of animal husbandry or domestication of animals for commercial purposes forms an integral part of the economic structure of the state of Jammu and Kashmir.
The majority of the local inhabitants of Jammu and Kashmir depend on animal husbandry for their livelihood. Animals like sheep, cow, goat, and hen are kept for commercial purposes. The government of Jammu and Kashmir has taken several steps to improve the economic sector of animal husbandry.
According to the official statistics the animal husbandry sector produces about three seventy million eggs, thirty lakh tones cow dung, forty lakh kilogram meat and sixteen lakh manure of the poultry animals.
The concerted efforts of the state government and the local inhabitants have led to the successful eradication of the numerous deadly diseases like Rinderpest, parasitic diseases, and anthrax.
Originally known as the Veterinary Department, the Animal Husbandry Department has accomplished several landmark achievements in the past fifty years that has helped to strengthen the economic condition of the state.
The Jammu and Kashmir economy is heavily dependant on animal husbandry. One of the prominent economic sectors of the state, Jammu and Kashmir animal husbandry has contributed immensely to the financial improvement of the state.
Popularly referred to as the valley of flowers, the Kashmir horticulture is one of the prominent economic sector of the state. Known for the wide variety of fruits and flowers, the horticultural sector forms the backbone of the economy of Jammu and Kashmir.
The horticultural sector contributes around twelve hundred crores to the annual income of the state of Jammu and Kashmir. The state government has declared the horticulture to be one of the most important economic sectors of the state that has contributed immensely to the strengthening of the financial condition of Jammu and Kashmir.
Blessed with a salubrious climate and suitable soil, Kashmir produces many different kinds of fruits and flowers. The majority of the local population of Jammu and Kashmir is directly or indirectly involved with horticulture of the state.
The government of Jammu and Kashmir has devised several plans to improve the marketing strategy of the numerous horticultural products of the state. Most of the products of horticulture are exported that helps the state to earn a large chunk of the revenue.
The Department of Horticulture has formulated many different kinds of schemes to enhance the growth of horticultural products. Some of the most important schemes are the Agriculture Export Zones and Technology Mission. According to the Agriculture Export Zone, Kashmir has been acknowledged to be the Agri export zone of quality apples, and walnuts. The Technology Mission aims to further improve the infrastructural amenities of the horticultural sector of the state.
The Kashmir horticulture is a symbol of flourishing economic condition of the state of Jammu and Kashmir. An integral part of the Jammu and Kashmir economy, the variety of horticultural products of the region has earned world wide fame because of its good quality and taste. Although the Indian state of Jammu and Kashmir is a world famous tourist spot, the Government of the state is laying much stress on the industries for all round improvement of Jammu and Kash-mir. The Jammu and Kashmir Government has invited many industrial houses to promote indus-tries in the state. The state Government and the union Government are also putting their best ef-forts to promote industries and generate employment opportunities in the state of Jammu and Kashmir.
The Jammu and Kashmir industries constitute of manufacturing industries, small-scale indus-tries, cottage industries etc. There are industries in almost all parts of the state of Jammu and Kashmir but some areas have been marked as primarily and significantly industrial areas. Some of these important areas are:
- Industrial Growth Centre in Samba
- Integrated Infrastructure Development Project in Udhampur
- Industrial Complex in Bari Brahmana
- Industrial Estate in Zakura
- Industrial Growth Centre in Ompora
- The Government of the state of Jammu and Kashmir has also laid some policies for th development of industries in the state.
The paradisiacal land of Jammu and Kashmir had faced severe crisis in the recent inflicted by constant insurgencies and terrorism threats. The youths of the state had lost confidence and did not have any thong to hold back on. At this juncture, the State Government decided to promote the Jammu and Kashmir Industries. This way they can create job opportunity and build a positive picture of the state. They stressed more on the Manufacturing Industries of Jammu and Kashmir as it will help to generate revenue for the state.
Armed with rich raw material resources and eager workers, the state government is inviting major industrial houses to set up manufacturing industries in the state. Some of the Manufacturing Industries in Jammu and Kashmir are-
- Manufacture of textiles
- Manufacture of food products and beverages
- Manufacture of coke, refined petroleum products and nuclear fuel
- Manufacture of machinery and equipment
- Manufacture of chemicals and chemical products
- Manufacture of fabricated metal products, except machinery and equipment
- Manufacture of other non-metallic mineral products
- Manufacture of basic metals
- Manufacture of furniture
The state of Jammu and Kashmir is heavily dependent on its tourism industry. The government is aware of the fact and they are trying to build an industrial atmosphere in the state. They have invited leading industrial houses of the country. However, the state is not in a very good condition as it has faced severe terrorism threats and insurgencies. The people of the state need jobs and since the industrial process is time taking, only Small Scale Industries of Jammu and Kashmir can help.
The following are the areas, which have been given preference to promote Small Scale Industries in Jammu and Kashmir are:
- Priority sector lending by Banks and Financial Institutions.
- Excise Exemption or concessions
- Reservation of items for exclusive production
- Package of Incentives
- Emphasis now on promotion of quality, technology and efficiency
- Price & Purchase preference
- Infrastructure Development The main types of small-scale industries in Jammu and Kashmir are:
- food products
- machinery parts
- plastic goods
- paper products
- automobile equipment
These industries help to provide bread and butter to the people of the state, both in the urban and rural sector.The state government of Jammu and Kashmir is eager to introduce industrialization in the state with the hope that it will support the state revenue to a considerable extent. The revenue earning of the state of Jammu and Kashmir is largely dependent on the tourism industry, but in the recent past the government is stressing on the hard-core industries keeping in mind the positive effects of in-dustrialization. Jammu and Kashmir Industrial Infrastructure is fast developing and the state government is emphasizing on the other aspects of the state to make the state favorable for the out-side industrial groups so that they come and invest in and generate the existing businesses here.
The other aspects, which should be kept in good condition to back and assist the Industrial Infra-structure in Jammu and Kashmir, are road and railway network, transport system, law and order, etc.
The government of the state of Jammu and Kashmir has already demarcated certain areas as favor-able for industrialization. These are:
- Industrial Complex at Bari Brahmana in Jammu
- Industrial Estate at Gangyal in Jammu
- Electronic Complex at Rangreth in Srinagar
- Industrial Complex Lassipora at Pulwama in Kashmir
- Industrial Complex at Khonmoh in Srinagar
- Industrial Growth Centre at Samba in Jammu
- Export Promotion Industrial Park at Kartholi in Jammu
- Industrial Area in Kathua
- Industrial Estate at Zainakote in Srinagar
- Industrial Estate at Zakura in Srinagar
- Industrial Growth Centre at Ompora in Budgam
The tourism industry in Jammu and Kashmir is supposed to be one of the most flourishing industries in the state. This industry is very important for the development of the regions of Ladakh, Jammu and Kashmir.
As there are not much industrial developments in the other sectors of this place so the industry related to tourism is considered with much seriousness by the state government. Apart from agriculture economic activities related to Kashmir tourism is the most popular source of income here. But these activities were hampered because of the massive political disturbances here. The tourist footfall in this region gradually decreased in and after the nineties. The economic structure of the state suffered a sudden downfall as a result, since the state economy was primarily dependent on this sector.
Most of the people here were into professions related to tourist activities. The financial conditions of the people in Jammu and Kashmir suffered badly after the sudden setback.
The state of Jammu and Kashmir is yet to recover from this sudden decline in the tourist industry. But the department of tourism is trying hard to improve the condition of the tourism industry in Kashmir and bring back the past glory of the state. They are trying to beautify the existing tourist spots and increase the facilities for the visitors in order to attract more people to the state.
To reconstruct the tourism industry here the state government has declared many incentives and facilities for those who are interested in business related to this field of activity.
The banking and finance sector in the state of Jammu and Kashmir organize for the loans for the small as well as large scale investors in the different industrial sectors of the state. The basic aim of the finance department of the government of Jammu and Kashmir is to access and create resources for the economic growth of the state.
In order to take care of the development here this government department has taken the responsibility of infusing financial discipline among the public functionaries. They implement various policies and reform schemes for the fiscal development and stabilize the economic structure of the state of Jammu and Kashmir.
There is the Jammu and Kashmir Bank to provide banking services to the people of the state. There are branches of this bank in other states as well to facilitate the customers. This bank offers loans at a very reasonable rate of interest that can help in the development of the industrial sector here.
Apart from the J&K Bank there are also other banks that provide financial assistance to the people of the state. Financial services in the rural sectors of Jammu and Kashmir are provided by the various rural banks. Jammu Rural Bank is one of them. This bank provides the small industries and the farmers of Jammu and Kashmir with the necessary monetary help. Ellaquai Dehati Bank and the Kamraz Rural Bank are two other such banks that are working for the development of banking and finance in Jammu and Kashmir.
With the proper utilization of the measures that are being taken by the banking and financial sector in the economic condition are expected to develop fast.
There are different types of jobs provided by the Jammu and Kashmir Service Sector. The financial sector of this state is concentrating much on the development of the service sector. The banks here provide special loans for the growth of the service and trade sector here.
The people here are engaged in different type of jobs. Apart from agriculture the several activities related to the tourism industry are the most popular occupation here. This industry has a good scope for growth here.
The hotel and hospitality industry is thus developing fast in the state of Jammu and Kashmir. Many young graduates are taking up jobs in this service sector of Jammu and Kashmir.
The small-scale industries dealing with local handicrafts are also flourishing well. Manufacture and marketing of the goods produced in this sector also involve the participation of a large number of people.
Banking sector of Jammu and Kashmir also has a large employment opportunity. Many people of the state are employed in this sector. There are also many jobs in the various government departments of the state.
The corporate sector in Jammu & Kashmir is also developing fast. Many people are now taking up jobs in this sector. Many software engineers and management graduates are being absorbed by this sector.
The Jammu and Kashmir Service Sector is thus trying to increase the employment opportunities in the state and is trying rescue Jammu and Kashmir from the economic setback that it was suffering from.
Jammu & Kashmir Real Estate agents and property dealers can help you to buy a property in this heavenly place. The housing needs of the people in this Indian state are taken care of by some of the most efficient and well-researched property dealers of Jammu and Kashmir.
There are many real estate agencies in the state of Jammu and Kashmir where you can seek assistance and suggestion regarding rental properties as well. They can find you the right home that suits your budget and requirements. The real estate agents in Jammu and Kashmir can help you with advices regarding housing loans and other details as well. These property dealers also help the clients with contacts of interior designers, architects, building contractors, etc.
The real estate agents of Jammu and Kashmir also help with selling of properties. Since they are very well researched so they can help their client with advices regarding the price and other formalities while selling the properties. With their help you may be sure to get the right amount for the properties that are being sold.
The real estate agencies in Kashmir also offer services related to relocation. They also help the NRIs who are interested in buying and selling properties in the state of Jammu and Kashmir but are not familiar with the market rates and values here.
Some of the most efficient and reputed real estate firms of the state of Jammu and Kashmir have their offices in the important cities of the state.
The Jammu & Kashmir Real Estate agencies offer services at very competitive rates.