Jammu and Kashmir's Economy Booms with Record Tourism and Investment
Jammu and Kashmir is witnessing remarkable economic progress, driven by national flagship programs like Make in India and Digital India. The Union Territory's Gross State Domestic Product (GSDP) is projected to reach ₹2.65 lakh crore in 2024-25, with a surge in visitors and investment proposals.
The region's growth is fueled by mega infrastructure projects that enhance connectivity and reduce logistics costs. These developments, along with targeted interventions in tourism and horticulture, have boosted GSDP and employment. Notably, Jammu and Kashmir welcomed a record 2.11 crore visitors in 2023, the highest ever.
Since 2019, the Government of India, led by Prime Minister Narendra Modi and the Ministry of Home Affairs, has implemented significant structural reforms. These efforts, coupled with improved governance, peace, and security, have led to a substantial rise in living standards. The region has also seen a surge in entrepreneurial spirit, with over 650 startups registered since 2019. Moreover, investment proposals worth ₹1.63 lakh crore have been received, with the potential to create nearly six lakh jobs.
Jammu and Kashmir's economic progress is evident in its growing GSDP, increased tourism, and burgeoning startup scene. With ongoing development activities driving multiplier effects across the economy, the region is poised for sustained growth and prosperity.
