Highlights Economic Roadmap, Investment, and Business Reforms
BY EOK NEWS DESK
The Confederation of Indian Industry (CII) J&K UT Council hosted its Annual Session for 2025-26, themed “Aspiring for New Growth Goals.” The event focused on strategizing economic prosperity and sustainable development for the region.
Distinguished guests included the Hon’ble Chief Minister of the Union Territory of J&K, Mr. Omar Abdullah, as the Chief Guest, and Shri Satish Sharma, Hon’ble Minister for Food, Civil Supplies & Consumer Affairs, Transport, Science & Technology, Information Technology, Youth Services & Sports and ARI & Trainings Departments as the Guest of Honour.
Chairman of CII J&K and Executive Director – FIL Industries Private Limited, Syed Junaid Altaf, warmly welcomed the dignitaries and participants, expressing gratitude to the Chief Minister for his presence. He emphasized CII’s pivotal role as a catalyst for industrial development in J&K and highlighted the region’s thriving startup ecosystem, which is significantly transforming its economy. Mr. Madhav Singhania, Chairman of CII Northern Region and Joint Managing Director & CEO of JK Cements Ltd., praised J&K’s potential to emerge as an industrial powerhouse. He lauded CII J&K for expanding its membership and engaging the next generation of industry leaders. To accelerate economic growth, he proposed the establishment of a task force to develop a roadmap for transitioning J&K from a $29 billion economy to a $60 billion economy within the next five years.
Hon’ble Minister Shri Satish Sharma stressed the importance of addressing historical economic challenges. He underscored the region’s potential for growth in sports, healthcare, and border tourism, advocating for innovative marketing strategies to capitalize on Kashmir’s renowned hospitality industry.
Applauding CII J&K for successfully conducting its annual session in Srinagar, the Hon’ble Chief Minister Mr. Omar Abdullah acknowledged the resilience of J&K’s industry and commended the businesses that have thrived without relying solely on government subsidies. He emphasized the need for long-term business sustainability and proposed mechanisms to assess business viability beyond ten years. He also encouraged external investments, highlighting their role in job creation and economic expansion. Additionally, he suggested adopting successful policies of other states to ensure better job opportunities for J&K and its residents. Furthermore, to improve the ease of doing business, the Chief Minister called for a genuine single-window clearance system to address bureaucratic bottlenecks, particularly in obtaining clearances from forest and environmental boards that hinder manufacturing growth. He urged industry stakeholders to provide feedback for the upcoming budget, reaffirming the government’s commitment to fostering an industry-friendly policy environment.
Dr. M. A. Alim, Vice Chairman CII J&K UT council, expressed his gratitude to all participants for their contributions to making the event a success.
The CII J&K Annual Session 2025-26 underscored a shared vision for economic growth, industrial transformation, and sustainable development, reaffirming J&K’s position as a premier destination for investment and business expansion.