Latest update: May, 2018
Last Updated: May, 2018
JAMMU AND KASHMIR State Report | May, 2018
Jammu and Kashmir (J&K) is the northern-most state of India and shares its borders with Himachal Pradesh and Punjab, and the neighbouring countries of Pakistan, China and Afghanistan. The state consists of three regions - Jammu, the Kashmir valley and Ladakh.
The natural beauty and picturesque locations have made it a favoured destination for tourists across the world. Jammu is famous for its temples, while the Kashmir Valley is known for its lakes and gardens. During January-October 2017, total number of tourist visits to J&K was recorded to be 7.31 million. J&K expects to witness 22.7 million tourist arrivals in FY 2020.
J&K has agro-climatic conditions best suited for horticulture and floriculture. Horticulture is the mainstay of the rural economy, providing employment to large number of local inhabitants. Apple production in the state reached 1.74 million metric tonnes (MT) in 2017-18 (P). The state is also a major exporter of walnut & its international market share is about seven per cent.
The state’s GSDP grew at a CAGR of 10.30 per cent, during 2011-12 to 2017-18. The GSDP is expected to grow at 11.71 per cent (in Rs) by 2018-19 to reach Rs 1.57 trillion (US$ 24.42 billion).
As of April 2018, J&K had a total installed power generation capacity of 3,428.32 MW, comprising 1,842.93 MW under central utilities, 1,534.03 MW under state utilities and 51.36 MW under private utilities.
The state government has an industrial policy that offers attractive incentives along with a single-window clearance mechanism. Land is allotted at concessional rates in industrial areas on lease for 90 years. The cost of setting up operations is comparatively lower than other states. The Skill Development Policy 2012-17 and the Sher-e-Kashmir Employment & Welfare Programme for the Youth 2009 are the policies undertaken by the government to develop the skills of the indigenous people of the state and offers better employment opportunities. J&K stands 29th among Indian states in rankings based on ease of doing business and reforms implementation, according to a study by the World Bank and KPMG.
The state (including Chandigarh, Punjab and Haryana) has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 6 million during the period April 2000 to December 2017, according to data released by Department of Industrial Policy and Promotion (DIPP).
Note: P – Provisional
Last Updated: March 22, 2018