Srinagar, August 25: Union Minister Dr. Jitendra Singh on Sunday called upon the Indian Chamber of Commerce (ICC) to actively facilitate private sector participation in Jammu and Kashmir, saying the Union Territory has the potential to emerge as a key driver of India’s economic growth. But the private sector’s partnership with government is essential for J& K ‘s economic growth, he hastened to add.
Speaking at the ICC Centenary Retreat in Srinagar, he emphasised that the Modi government has dismantled long-standing barriers between the public and private sectors and it is now for industry to step in.
“The government has become very forthcoming. We have even opened up the nuclear sector, but the private industry was not ready because it did not expect this change. Now is the time for industry to take the lead,” Dr. Jitendra Singh said.
Underscoring the importance of J&K in the new growth landscape, the minister cited the “purple revolution” of lavender cultivation as an example of successful public-private partnership. The initiative, which began in Bhaderwah and later spread to Gulmarg, drew investment from leading perfume manufacturers and enabled local farmers and youth to shift to high-value cultivation. Some professionals even left corporate jobs to join lavender farming after discovering its profitability.
Similarly, Dr. Jitendra Singh noted that local self-help groups, including women-led ones, are adopting advanced techniques in apple cultivation, leading to higher yields and longer shelf life for produce. “These are examples of how early industry linkage can transform livelihoods in the region,” he said, urging the Chamber to connect entrepreneurs with government agencies and private players on a larger scale.
The Minister also highlighted the StartUp boom in the country, with nearly 1.7 lakh ventures now registered, over 60 percent of them from tier-2 and tier-3 towns. He argued that cities like Srinagar were well-positioned to ride this wave. “The aspiration levels in smaller towns are higher, and with the right ecosystem, J&K can become a hub for innovation and entrepreneurship,” he said.
Pointing to the government’s policy shift, Dr. Jitendra Singh said sectors once considered exclusive to the public sector—such as space and biotechnology—had been opened up to private investment, with frameworks already in place for collaboration. He added that India’s next economic revolution is expected to be biotechnology-driven, and J&K must find its place in this transformation.
Calling the ICC retreat in Srinagar both timely and symbolic, he said it sent a clear message that the Union Territory is ready to be integrated into India’s mainstream economic growth. “This is the best time for industry to engage with Jammu and Kashmir. What is needed is a clear plan and a timeline to make things happen,” he concluded.
