Jammu & Kashmir, popularly described as ‘paradise on earth‘, is a well-known tourism destination. Horticulture is the mainstay of Jammu & Kashmir‘s rural economy, generating revenues of over US$ 11 million annually, and providing job facilities to thousands of people, directly and indirectly. The floriculture industry of the state caters to both the domestic and international markets. The state is a leader in the production of apples, walnuts, pears, almonds and apricots, and has a huge potential for the exports of processed food and allied services.

Handicrafts are another traditional industry of the state—Kashmiri silk carpets are famous the world over and earn substantial foreign exchange for the country. Kashmir is well-known for its quality silk and its traditional silk weaving industry. The state houses two large silk factories in Srinagar and Jammu. Handicrafts is a predominant cottage industry and provides direct and gainful employment to 0.3 million people in the state.

Jammu & Kashmir had outstanding investments of US$ 8 billion as of the quarter ended December 2008. The maximum amount of investments, amounting to US$ 3.9 billion, have taken place in power-related projects, followed by the services sector at US$ 3.3 billion.

Tourist arrivals crossed the one million mark in 2008–09. Around 1,050,000 tourists visited the state during 2008, a significant increase over the 2007 figure of 656,000.

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