Investments must be regulated to protect land, jobs: Omar

Chief Minister Omar Abdullah on Friday attended the Confederation of Indian Industry’s J&K Annual Session-2025 titled “Amazing J&K: Aspiring for new growth goals”.

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According to a spokesperson, the event, organised by the Confederation of Indian Industry (J&K Council), brought together business leaders, industrialists, entrepreneurs, and other stakeholders to discuss strategic actions to boost J&K’s economic growth and development, driving the region’s competitiveness and business potential through a robust and resilient industrial and sustainable entrepreneurship ecosystem.

Addressing the session, the Chief Minister emphasised that such interactions are pivotal to enhancing efficiency, competitiveness, and creating business opportunities for industries through a range of specialised services and strategic global linkages. It also provides a platform for consensus-building and networking on key issues.

The Chief Minister sought suggestions and valuable insights from the participating entrepreneurs and other stakeholders that can be incorporated into the upcoming budget of Jammu and Kashmir for the overall welfare and benefit of the public, as well as for industries, tourism, and other sectors.

Omar emphasised the need for responsible entrepreneurial practices to foster an economic ecosystem that ensures sustainability across J&K.

While advocating for expanding investments in J&K, the Chief Minister underscored that such investments must be regulated by laws protecting the agricultural land and having land investment safeguards, like in Himachal Pradesh which has put reasonable restrictions and at the same time it would ensure jobs for local youth.

The Chief Minister said that Himachal Pradesh has adopted a strict policy in this regard and stressed the adoption of a similar policy in J&K.

He commended the resilience of J&K’s industry, acknowledging businesses that have endured challenging times without solely relying on government subsidies. He stressed the importance of ensuring long-term business sustainability, proposing a mechanism to track businesses’ viability beyond ten years.

On the ease of doing business, the Chief Minister advocated for a genuine single-window clearance system, addressing concerns over bureaucratic hurdles, particularly in obtaining clearances from forest and environment boards, which hinder manufacturing growth.

He encouraged stakeholders to provide suggestions and feedback for the upcoming budget, reinforcing the Government’s commitment to an industry-friendly policy framework.