The state has an industrial policy that offers attractive incentives along with a single-window clearance mechanism. Land is allotted at concession rates in the industrial areas, on lease for 90 years. The cost of setting up operations is, comparatively, lower.
The Net State Domestic Product (NSDP) of Jammu and Kashmir was about US$ 6.7 billion in 2007-08. The average annual NSDP growth rate from 1999-2000 to 2007-08 was about 11.1 per cent.
Kashmir region is known for its horticulture industry. Horticulture plays a vital role in the economic development of the state. With an annual turnover of over US$ 75 million, apart from foreign exchange of over US$ 20 million, this sector is the next biggest source of income in the state's economy next to agriculture.State Presentation (November 2010)
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