Last updated on May, 17 2021
Jammu and Kashmir (J&K) is a Union Territory (UT) of India, located in the country’s northern part, and a global tourist destination. In addition to traditional recreational tourism, a vast scope exists for adventure, pilgrimage, spiritual, and health tourism.
The economy is primarily services based and agri-oriented. The Gross State Domestic Product (GSDP) increased at a CAGR (in Rs.) of 8.51% between 2015-16 and 2020-21 to reach Rs. 1.76 trillion (US$ 24.28 billion). J&K’s NSDP increased at a CAGR (in Rs.) of 8.61% from 2015-16 to 2020-21 and reached Rs. 1.49 trillion (US$ 20.49 billion).
A vast natural resource base has enabled J&K to develop land for cultivating major fruits. With varied agro-climatic conditions, the scope for horticulture is significantly high in J&K. Food processing and agro-based industries (excluding conventional grinding and extraction units) thrive in the UT. J&K has an ideal climate for floriculture and an enormous assortment of flora and fauna. J&K has Asia’s largest tulip garden.
J&K’s handicrafts are world famous and the traditional handicraft industry has emerged as a large industry. Due to its large employment base and export potential, the industry has been receiving priority attention of the government. The UT is also famous for its small-scale and cottage industries such as carpet weaving, silks, shawls, basketry, pottery, copper and silverware, papier-mâché, and walnut wood. The cottage handicrafts industry provides direct and gainful employment to around 340,000 artisans.
As of February 2021, J&K* had a total installed power-generation capacity of 3443.07 MW, comprising 1831.36 MW under central utilities, 1535.98 MW under UT utilities and 75.73 MW under private utilities.
Total export from J&K stood at US$ 188.18 million in 2019–20. In FY21 (till January 2021), export from J&K stood at US$ 125.65 million.
The following are some of the major initiatives taken by the Government to promote Jammu & Kashmir as an investment destination:
Note: P - Provisional, T - Target, MT - Million Tonnes, ** - 2018-19 (3rd advanced estimate), #- Including Ladakh Union Territory
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