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With article 370 gone, Jammu and Kashmir can look forward to a future that promises financial growth for the Union territories and job opportunities to the residents.

PM Modi in his address on 8th August shared his plans and vision for the Union territories. He also invited industries to set up business . The Confederation of Indian Industries (CII) is also organising an investment summit in Jammu & Kashmir in October in which major industrial groups are expected to participate and unveil concrete ideas for investment in sectors including hospitality, pharmaceuticals, agro processing and healthcare. The plan is to have Prime Minister Narendra Modi inaugurate the showcase summit. Industry stalwarts say the changes in administrative structure has the potential to bring in substantial investments.

“We are pretty convinced that this will help us get a lot more investment due to the fundamental change when it comes to ownership of property. The areas of tourism and agro processing will get a boost,” said Sameer Gupta, president, CII northern region, who participated in pre-summit meetings with the J&K government. 

On top of the list of industries that PM Modi wants to revive is tourism in Jammu & Kashmir, and Ladakh. “Jammu and Kashmir and Ladakh can become the biggest tourist destination in the world. Ladakh has the potential to become the biggest center of spiritual tourism, adventure tourism and ecotourism,” he said.

Modi government will focus on making Ladakh a major centre for solar power generation. Modi said “Now there will be proper use of its potential and new opportunities will be created for development”.

PM Modi also envisions encouraging Public sector undertakings and large private companies to provide jobs. This will be accompanied with enhancing digital communication in the area

The other area where Mr Modi sees an opportunity is organic farming in Jammu & Kashmir and Ladakh. In his speech he mentioned “Several herbal and organic products are scattered across J&K and Ladakh. If they are identified and marketed in the global market, then it will greatly benefit the people and farmers of these regions. I urge the enterprises from all over India to come forward for this.”

Last but not the least, the prime minister has urged the Hindi, Telugu and Tamil film industries to shoot movies in Kashmir, and provide local people with job opportunities.