Wings to power of youth

Sajjad Bazaz

 

Corporate sector has announced plans to invest in Jammu and Kashmir. They have shown their interest in changing the growth story of J&K. The known companies are that of Mukesh Ambani and Medanta Group.The pitch of enthusiasm shown by corporate indicates there is no reason to worry as investment is going to transform the region.

Excerpts:

 

“Soon after the abrogation of Article 370, coupled with rescinding of Article 35A, country’s Corporate Inc, both big and small, announced their plans to invest in Jammu & Kashmir (J&K), Even startups jumped on the investment bandwagon. They showed their intent to change the growth story of J&K, and bring the power of local youth at the centerstage of the development by making them stakeholders in their ventures. Among the lot, Mukesh Ambani’s announcement to prepare plans for the region’s developmental initiatives is a hot in the arm of the central leaderships’ plan to change the fortune of J&K through sheer development initiatives with focus on local youth. Since health sector is a virgin market in J&JK, the intent shown by the Medanta Group to invest here is going to revolutionize healthcare facilities. Besides, the move to establish chain of hospitals by the group will create huge multiple job opportunities for the local youth in different streams of the healthcare.”

 

“Policybazzar’s announcement that it will hire 4,000 candidates from the region and health & fitness startup CureFit announcing to open fitness centres describes the kind of investment mix planned in the new era of J&K. if the pitch of enthusiasm shown by the Corporate Inc is taken into account, then there is no reason to worry as the investment is definitely going to transform the region with peace, prosperity and profits. Precisely, engagement of Corporate Inc would go a long way in promoting J&K across globe as a peaceful destination not only to attract tourists but also trigger business tie ups at global level. However, there are certain hard facts which the Corporate Inc have to take into account before scripting the growth story of the union territory of J&K. They have to understand the core sectors of the region and tailor programs in line with the local geographical and cultural values. The business strategy which works for them in rest of the country will not necessarily be suitable here. They have to embed local values into their business strategy for the region and set up shop with adequate care and sensitivity. There are certain sectors in J&K economy which have been craving for investment to perform to their full potential. Take the case of Information Technology (IT) sector. It’s one of the top most potential sectors of investment in J&K. By now, there should have been an IT revolution in the State. But nothing much has happened on this front. There is no dearth of the manpower and as far as climatic conditions are concerned, there is nothing averse which can hamper the spectacular entry of IT revolution in J&K”.

 

Information Technology sector is one of the top most potential sectors of investment in J&K. The manpower available in the state can be trained in IT sector to cater to the emerging needs of industry. Besides Hydro Power is recognized as environmental friendly and economical, small and mini projects have the potential to provide energy in remote areas:

 

“Being a knowledge – based industry, the large pool of educated manpower available in the state can be trained in IT sector to cater to the emerging needs and challenges in the industry. There is urgent need to fall back upon hardware as well as software professionals in the sector for creating an atmosphere where unemployed youth are technically empowered to start their own IT firms. This will be a big leap forward it hospitality is extended to foreign investors for their investment in IT sector in J&K. J&K has tremendous potential for financial services. Financial services is a labour intensive, manpower intensive and skill intensive. In a single building we can generate employment for large number of people. Infrastructure is needed only in terms of a secured building and infrastructure for internet connectivity for global trading. If the potential of this sector is explored, J&K can become a part of trillions of dollar trade conducted globally. Hydro power is recognized as a renewable source of energy which is nonpolluting, environmental friendly and economical. Small and mini hydel projects have the potential to provide energy in remote and hilly areas, where the extension of grid system is not economical. These kinds of projects are economically viable, need a relatively short time for implementation. The involvement of private producers and foreign investment in this sector can revolutionize it.”

 

Kashmir sapphires are highly valued. This sector could be utilized in addressing unemployment problem:

 

“Kashmir sapphires is highly valued because the finest specimens have a superb royal blue color and a velvety texture due to fine silk inclusions. If experts opinions are to be believed, the stocks at Padder in Kishtwar if utilized could generate Rs. 6000 to Rs 8000 crore revenue for the state that could have significantly help in addressing the unemployment problem. But due to the neglect, Kashmir sapphires have mythical reputation in the gemstone world, despite so rich in gem and jewelry sector, J&K has failed to have a jewelry cluster. In the new era, the potential in the sector can be explored and J&K can have a germ and jewelry exchanges with facilities such as appraiser and testing laboratory for precious stones. Let gems and jewelry industry is developed in an organized manner and capitalize on the back of healthy demand from western markets like the US and Europe to revolutionize our economy. Local youth can be imparted skilled training to run the industry.”

 

Other sectors of investment include electronic and precision engineering food processing, handloom, handicrafts, sericulture and silk industry:

 

“Other potential sectors of investment include electronic and precision engineering, food processing, handloom and handicrafts, sericulture and silk industry, textiles and readymade garments and agro-based industry. As far as Sports good industry is concerned, the manufacturers of sports goods particularly cricket bats has tremendous potential for investment. But unfortunately only clefts are being exported at a very minimum rate. So whatever, the developmental initiatives planned for the new era of Kashmir (J&K), there is need to focus on youth’s potential to change the improve. Allow the youth to face the formidable challenge of transforming Kashmir from  a mediaeval and backward society into a modern, mechanized and positively emancipated society. We have nurtured a lot of social and political ills in Kashmir and these cannot be set right through primitive methodologies. The only way forward is to understand and guarantee prosperous future to the Kashmiri youth. Handle them with care.”

 

[Courtesy: daily Greater Kashmir, Srinagar, Kashmir, September 11, 2019].

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