Businesses of Jammu and Kashmir
Jammu & Kashmir is a significant contributor to the Indian economy. It boasts of Asia’s biggest tulip producer, along with world class…
Jammu & Kashmir is a significant contributor to the Indian economy. It boasts of Asia’s biggest tulip producer, along with world class horticulture and handicrafts. It also has the lowest poverty level in the country.
As per Invest India, the state is home to about 53 industrial estates and 32,226 small-scale industrial units. The state exported nearly INR 7000 crores worth of fresh and dry fruits in 2016–2017. It’s horticulture employs nearly 33 lakhs people. J&K is home to 38,000 handlooms, producing world class shawls and carpets. Tourism sector contributes not more than 7% of the GDP.
It’s per capita income is INR 67,000, which is less than the national per capita income of INR 98,000. Government of India has scrapped the unique status of Jammu and Kashmir. It plans to increase the economic out by increasing income and reducing unemployment, which is nearly double of the national employment rate.