Omkar Dattatray
The economy of Jammu and Kashmir Union Territory badly requires bulk investment in its various sectors to augment the employment opportunities in urban as well as rural areas.
It is obvious that Jammu and Kashmir needs faster economic and industrial development. But economic and industrial development of Jammu and Kashmir is not possible and practical without huge increase in investment. Therefore investment in various sectors of J&K economy is important and should be the top priority and agenda of the government. The LG administration of the UT and the Modi government of the centre are taking steps to increase the investment opportunities in the UT. G20 will in fact be a milestone in the path of the increase in investment. The G20 will thus open flood gates of investment in the economy of Jammu and Kashmir and this is no ordinary development. Thus huge investment will come to the UT because of the successful conduct and conclusion of the G20 summit in Jammu and Kashmir. One of the big problems that the UT is facing is the scourge of unemployment and lack of job opportunities.
The lack of job opportunities for the educated, skilled, semi skilled and unskilled youth is a big obstacle in the societal and economic development of the UT. Therefore there is great need of increasing huge employment opportunities so that the problem of unemployment which is staring us in the face is solved and addressed to a great extant. The tremendous increase in the investment in various sectors of the economy of Jammu and Kashmir will widen the scope of increasing the employment opportunities and this will really be a welcome development and all the political parties across the spectrum should appreciate and welcome this initiative and development.
The investment in urban rural areas and in various sectors of the J&K economy will provide employment to the youth of the UT. The G20 will remove the doubts and inhibitions to investment among the Indian and foreign investors and corporate houses. All negative opinion about the Kashmir situation will get obliterated and removed by the G20 summit as this crucial meeting of the influential delegates of the world will boost the investment culture in Jammu and Kashmir as all doubts and misinformation and disinformation will be removed and this will definitely pave way for huge investments in J&K so that the economic and industrial activity will pick up and will get an upward trend.
The fact is borne by the G20 and it will be showcased to the world that everything is right and normal in J&K and the atmosphere is conducive for the Indian and foreign investment. The Modi governments ease of doing business is further going to give boost to the investment and industrial activity and the tempo of economic development will greatly help the industrial, agricultural and allied sectors like dairying ,fishery and other such sectors.
The sum total of all this will result in the economic and social development of the UT as G20 will give impetus to the investment activities on an unprecedented scale and this will be a big favor for the citizens of the UT whose standard of living will increase and per capita income and gross domestic product -that is the income of the UT will significantly increase and it will give a salutary impact upon the incomes of the people and in practical terms the coffers of the common man will be filled and this will be a remarkable thing of the real effect of the economic development induced by the investment activity. Since the UT is lagging behind in investment activity and as a result the economy of Jammu and Kashmir is in a bad shape and as such there is great need for picking of the investment in the various sectors of its economy and G20 will definitely give a big push to investment and it will greatly increase the employment possibilities and opportunities and its multiplayer effect will be a boost in the incomes of the people in the ultimate analysis.
The G20 will give this feeling to the investors that there is investment friendly atmosphere in the Jammu and Kashmir and the government is also embarking in the ease of doing business and this will induce and attract the big business houses and investors Indian and foreign to invest in the economy and industry as well as in the cash crop agriculture and allied activities. But the investment will be hugely attracted in the urban and rural tourism industry and this will be a positive development and favor to Jammu and Kashmir. All the investment will increase the employment opportunities in the UT and this will go a long way in boosting the economy of the erstwhile state and it will result in providing gainful employment to the youth of the UT and the sum total of all this will be an increase in the per capita income and increase in the living standards of the people.
The J&K officers told the chief secretary that Rs 5500 crore investment has commenced and this is a big development. This is testimony to the fact that investment activity is picking up momentum and in near future the economy of the UT will experience a quantum jump and this will lead to increase in the employment opportunities in the Jammu and Kashmir.
To conclude it can be said that G20 will in fact attract floodgates of investment in the union territory and this will be a big milestone in the societal and economic development of Jammu and Kashmir and we should welcome this development with open arms without imputing political motives.
(The author is a
columnist,social and KP activist).