Enhancing trade volume

05/08/2018

To facilitate more investment in enterprises and build a vibrant business environment in Jammu and Kashmir, the State Government has come out with first ever Trade and Export Policy, which lays out the roadmap for transition of the State's agrarian economy towards a market driven new economic structure.The Policy, drafted by the State Industries & Commerce Department in consultation with various stakeholders and approved by the Governor headed State Administrative Council (SAC), last evening, aims to enhance the domestic trade volume by five times in next 10 years, help increase share of Trade & Commerce in State GDP by at least 3 percent and raise the share of State in Gross National Export from the existing 0.05 percent to 2 percent in next five years besides creating employment opportunities for the educated unemployed youth. To achieve the targets, the Policy envisages various strategy measures, such as re-orienting the economy towards an open market system targeting export-orientation, export enhancement of market linked focus products like Jammu Bsmati, support for standardized international certifications, packaging, development of common facility centres, development of market linkages with the outlets of international chain stores across the country, notifying District/Regional export Promotion Committees involving stakeholders, promoting organic cultivation, developing J&K as a favoured destination to increase the domestic as well as the international tourists, human resources and skill development, communication and logistics infrastructure, development of new markets and amenities and use of technology etc.
The private sector will be the lead stakeholder in the new endeavor and the State's unique products and services would enable it to occupy rightful place in the global markets. Instead of a regulator, the Government's role would be only that of an enabler and facilitator in this process. The role of trade sector towards realization of the goal of economic development will be attained through structural transformation on the economy and enhanced value-added productivity that would in turn contribute to the process of competitiveness and lead to rapid economic growth. The Government would support establishment of world-class warehouses/distribution centres/logistics parks/ dry ports by allotting land and providing incentives for such activities. It would also facilitate better road, rail and air connectivity to and from the State besides developing Communication & Logistics Infrastructure. Under the new policy, brand Jammu and Kashmir would be promoted in trade of locally produced goods like Silk, Tweed, Pashmina and Jamawar Shawls, Silk carpets, Ladakh Carpets, Paper Machie, Embroidery, Ladakhi Handicrafts, Saffron, Jammu Basmati, Guchhi, Anardana, Honey. For the development of new markets and amenities, the concerned Municipal Corporations/Urban Local Bodies shall examine for liberalized conversion of the identified residential pockets into commercial zones so as to arrest haphazard and clandestine conversion of individual residential houses into business premises.

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