Srinagar, February 11: The Kashmir Chamber of Commerce and Industry (KCCI) delegation, led by Senior Vice President Ashiq Hussain Shangloo, Secretary General Faiz Bakshi, and Past President Mushtaq Ahmad Wani, attended a pre-budget consultation meeting today chaired by the Chief Minister Omar Abdullah at the Civil Secretariat. During the meeting, KCCI submitted a comprehensive set of suggestions and a structured roadmap aimed at reviving businesses under stress while simultaneously increasing employment opportunities.
As per a KCCI statement, the Chamber’s proposals focused on actionable steps to address long-standing economic challenges in the region, targeting both traditional industries and emerging sectors. The roadmap highlighted solutions to enhance industrial productivity, support local enterprises, and create an ecosystem conducive to entrepreneurship and innovation. Prior to the meeting with the Chief Minister, the KCCI Senior Vice President held extensive discussions with senior government officials, including the Commissioner Secretary of Industries and Commerce, DG Codes Finance Department, DG Budget, and GeM Coordinator J&K. These discussions revolved around budget-related policies and the alignment of financial resources to support industrial growth and business development.
KCCI Senior Vice President and Secretary General emphasized the critical importance of environmental sustainability during the pre-budget meeting, highlighting key areas such as wetland conservation, the development of playgrounds, and the enhancement of tourism opportunities. “KCCI aims to address the evolving economic landscape post-2019, focusing on the agriculture, services, and industrial sectors, including tourism, trade, and finance. A major challenge confronting the region is the alarming unemployment rate, which stands at over 17 lakh individuals, particularly among the youth and educated population. To combat this, the government should make budgetary provisions in sectors with the potential to create jobs, promote private sector growth, encourage entrepreneurship and startups, and emphasize skill development. The handicrafts sector, once the largest employment provider after agriculture, has witnessed a steep decline, particularly after the devastating floods of 2014. In 2013-14, exports had reached nearly ₹2,000 crore, but this momentum was lost. To revive this sector, incentives on exports should be increased, especially for GI-tagged products,” said a KCCI statement.
“Tourism is one of the most significant economic drivers in Jammu & Kashmir, contributing to employment, local businesses, and cultural preservation. The government should allocate funds for infrastructure development, eco-tourism, heritage conservation, adventure tourism, and digital marketing to promote J&K as a global tourist destination. Special attention should be given to the development of tourism authorities and new tourist destinations, promoting adventure tourism, and preserving houseboats as heritage properties,” it added.