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Business and Economy in Jammu

The city of Jammu is the main hub for business and trade for the administrative division of Jammu. It has seen a lot of advancement in the economic scenario in the last decade and has a number of small industries. Some of key industrial estates are located in Gangayal and Bari-Brahmana. Jammu has an assortment of businesses and trade opportunities. Some of the key industrial sectors comprise of the food grain mills, textile industry, carpet industry, handicraft and handloom industry. This region has also witnessed a lot of advancement in the form of shopping complexes, cinemas, recreation centres and has the largest number of such facilities in the state.

Business and Economy in Jammu

Current Trade and Commerce Scenario in Jammu

Jammu’s economy is sizeable with more than 40% of its total workforce employed in agro-pastoral activities. The economy is also dependent on tourism, which did go through a slowdown on account of various anti-social threats but is now picking up again. The tourism industry is not restricted to traditional recreational tourism. The region also has a vast potential for adventure tourism, pilgrimage tourism, spiritual tourism and health tourism.

The region also boasts of export earnings from sale of handicraft items and food products. The textile industry is flourishing due to its global reach in terms of the exports. Several European countries import dry fruits like almonds apricots and walnuts. There are also some agro and manufacturing industries that have been set up in the region for the production of plastics, textiles, cricket bats, walnut and kernels, chemicals apricot and nuts.

As this region is favoured by agro-climatic conditions, the horticulture and floriculture industry is also a huge flourishing industry and is the embankment of the rural economy, which provides employment to thousands of the locals. Both domestic and international markets are supplied flowers by the floriculture industry.

Also, a recent development is the decision of Canara Bank  to expand its business in Jammu and Kashmir and will set up 38 more branches in the state, which in turn has opened up the door of employment opportunities for hundreds of youth in the state.

Business and Economy in Jammu

Infrastructure of Jammu

The city of Jammu is slowly maturing itself into a well developed city. The process of progress and development is marked by the upcoming recreational places such as a central business hub like the Bahu Plaza, multi-level shopping malls and complexes like the City Square mall etc. which is bestowed with several leading food chain franchises and other branded shopping avenues. The scene in the infrastructure circuit is getting better with every passing year. Many projects are completed or are about to be completed. Jammu, is also witnessing a boom in the real estate scenario and with the advent of modernity in the construction arena, the living conditions of the people have improved by leaps and bounds.

Investment Opportunities in Jammu

Business and Economy in JammuThere are sizeable and considerable numbers of investment opportunities in Jammu. The textile industry is a lucrative investment opportunity as the people of this region possess innate skills of weaving and designing of textile products, which could be the foundation for setting up of state-of-the art textile industry in the region of Jammu.

In addition, the booming sector of handicraft and handloom act as the resource of foreign exchange earnings for the economy. Therefore, it will not be wrong to conclude that more textile mills are a bright future prospect as the local people of this region are skilled weavers and designers of textile products. Furthermore the traditional skills of fine craftsmanship in Jammu can be leveraged to suit the needs of modern industrial processes, especially in the domains of electronic and precision engineering.

The city of Jammu also provides an incredible prospective for investment in the tourism sector due to its rich cultural heritage and scenic beauty. The snow clad mountains, quintessential lakes, wonderful flora and fauna, and pleasant weather are all favourable conditions for the tourism industry to flourish. Also, this place has a wealthy reserve of large mineral deposits and is well-connected to other parts of the country through efficient infrastructure facilities, which makes the operations of trade and commerce very smooth sailing.

Also, the government is taking necessary measures to encourage investors and to attract them to the region of Jammu by providing an industrial policy that offers striking incentives along with a single-window clearance mechanism. There are also provisions where land is allotted at concessional rates in industrial areas, on lease for 90 years. Conclusively, the asking price of setting up operations is relatively lesser than other states.

Hence, it is advantageous to plan for an investment in this region as it presents numerous business opportunities in the various sectors of the market, primarily, agriculture, handloom, handicrafts, etc. Therefore, off late Jammu has witnessed setting up of industrial units by both small and big business houses and corporate giants.

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