The Chief Secretary, Atal Dulloo, presided over a comprehensive meeting with industry experts to discuss a forward-thinking plan developed by the Department of Labour & Employment. The primary objective of the plan is to cultivate an environment conducive to entrepreneurship, which will, in turn, result in the generation of numerous job opportunities within the Union Territory.
Those in attendance included the Director of IIM Jammu, VC of IUST, ACS of Forests, Principal Secretary of Finance, Commissioner Secretary of Industries & Commerce, Secretary of Labour & Employment, Secretary of Planning, DG of Planning, and other key individuals.
During the meeting, Mr. Dulloo highlighted the necessity of creating an environment that promotes entrepreneurship in J&K. He called for the development of a well-considered strategy that would enable entrepreneurial initiatives to thrive at all levels, from grassroots initiatives to high-level enterprises.
He emphasized the importance of identifying opportunities, raising awareness among potential beneficiaries, building their capacities, facilitating credit linkages, enabling the operationalization of units, and ultimately providing support to ensure the sustainability of these endeavors.
Furthermore, Mr. Dulloo advocated for the establishment of a robust mechanism to mentor and counsel aspiring entrepreneurs, starting from the block level. He also underscored the importance of integrating entrepreneurship into the regular curriculum of educational institutions to guide and motivate youth towards pursuing careers in this sector. Additionally, he proposed the implementation of incentive-based approaches to encourage existing enterprises, as well as the provision of equity, working capital, interest subvention, and revolving funds to support upcoming ventures.
The participants also contributed their insights towards the implementation of the strategy, recommending the formation of a high-level Apex body to oversee and coordinate the activities outlined in the plan.
The vision document, known as Yuva Udyami Vikas Abhiyan (YUVA), aims to provide explicit support to the emergence of nano, micro, and small enterprises. The plan involves the development of a conducive culture, capital infusion, capacity enhancement, and building market connectivity, with the objective of fostering a thriving environment for these enterprises. It envisions generating employment opportunities for nearly 5 lakh young individuals in J&K, and establishing an ecosystem through mass awareness and collaboration with banks and other institutions to facilitate the sustainability of future entrepreneurs.
The document seeks to revolutionize the employment and entrepreneurship landscape in J&K by creating a business-friendly environment, equipping the workforce with 21st-century skills, granting access to tailored financial products and markets, and building the human capacity of new and existing businesses to achieve sustainable economic growth within the Union Territory.
Subsequently, a meeting was presided over by the Chief Secretary to review potential plans for the large-scale promotion of Handicrafts and Micro, Small & Medium Enterprises (MSMEs) in J&K, in collaboration with the World Bank. The attendees included Commissioner Secretary of Industries & Commerce, MD of JKTPO, Directors of Tourism, Handloom & Handicrafts, and concerned officers.
Mr. Dulloo gained insight into the proposals prepared by the respective departments, referring to these exercises as the cornerstone of the major promotion plan to be presented to the World Bank for consideration. He emphasized the importance of focusing on the introduction of modern technology, the development of new designs, skill enhancement, credit linkages, and marketing interventions while formulating the plans.
During the discussion of the strategic investment plan under Raising & Accelerating MSME Performance (RAMP), the MD of JKTPO presented an overview of the MSME sector, along with the salient features of the RAMP Programme. The proposed interventions for its promotion included the formalization of the MSME sector, interest subvention for stressed MSMEs, digital financing, branding, packaging and publicity of J&K products, buyer-seller meets, raw material & inventory management, entrepreneurship and skill development, among other beneficial measures for this sector in the UT.
The Director of Handicrafts, Kashmir, also highlighted the current challenges faced by the artisans of J&K, the popularity of these crafts, issues encountered in their growth, previous government initiatives, and the proposed interventions to be taken in collaboration with international bodies.
The proposed measures included setting up testing & certification centres, e-commerce platforms, global showcasing, collaboration with international brands, skill development & enhancement, credit facilities, trade centre establishment, participation in trade fairs/exhibitions while observing Environment Social Responsibility (ESR) throughout the entire process.
In conclusion, the Chief Secretary’s proactive engagement with various stakeholders and his commitment to nurturing entrepreneurship shine a promising light on the future of employment opportunities in Jammu and Kashmir. By collaborating with international institutions and formulating comprehensive strategies, the Union Territory is poised to witness a transformation in its economic landscape, providing a conducive environment for the growth of businesses and the creation of employment for its youth.