Latest update: March, 2020
Jammu and Kashmir (J&K) is the Union Territory of India (UT) located in 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 J&K’s GSDP grew at a CAGR of 10.30 per cent, during 2011-12 to 2018-19. The GSDP is expected to grow at 11.71 per cent (in Rs) by 2018-19 to reach Rs 1.17 trillion (US$ 16.74 billion). The UT’s NSDP increased at a CAGR (in Rs) of 10.02 per cent from 2011-12 to 2017-18. The J&K’s NSDP is expected to reach Rs 1.34 trillion (US$ 20.73 billion) in 2018-19.
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 exports potential, the industry has been receiving priority attention of the government. The U&T 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.
Total exports from Jammu and Kashmir stood at US$ 196.43 million during 2018-19. During 2019-20 (up to December 2019), exports from the UT stood at US$ 146.57 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)
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