Chief Minister Omar Abdullah on Friday stressed that investments in Jammu and Kashmir must be regulated by laws protecting the agricultural land and having land investment safeguards like in Himachal Pradesh which has put reasonable restrictions.

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

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Omar Abdullah was speaking at the annual session of the Confederation of Indian Industry (CII) held in Srinagar.

The event, organised by the Confederation of Indian Industry (CII) 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.

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

Minister for Food, Civil Supplies & Consumer Affairs, Satish Sharma, emphasised the need to address past deficiencies and underscored the importance of promoting sports tourism, health tourism, and border tourism while leveraging Kashmir’s renowned hospitality through innovative marketing strategies.

Madhav Singhania, Joint Managing Director & CEO, JK Cements Limited & Chairman, Confederation of Indian Industry, Northern Region; Syed Junaid Altaf Group Executive Director, FIL Industries Pvt. Ltd. & Chairman, CII J&K; Dr MA Alim Director, Package Design Industries & Vice Chairman CII J&K were also present on the occasion.