Srinagar, July 06: Union Minister PiyushGoyal on Sunday said that Jammu and Kashmir is progressing fast in industry and trade, and that the recent terror incidents will not derail its development. Addressing a press conference after attending the FTII Traders Conclave 2025 at Sher-e-Kashmir International Convention Centre (SKICC), Goyal said that both the Jammu and Kashmir Government and the Central Government are working together to support growth in trade, tourism and industry in the Union Territory.He said that over Rs 28,000 crore has been sanctioned under an incentive scheme to boost investment across various sectors, including tourism, healthcare, manufacturing, and food processing.“J&K is moving fast in the field of industry and trade,” Goyal said. “The central government, through an incentive scheme of Rs 28,000 crore, has encouraged hundreds of industries,” he added.Goyal also praised the resilience of the people of Kashmir following the recent terror attack in Pahalgam. “Kashmir is not going to stop because of terrorist attacks,” he said. “These attacks were not just on tourists, but on Kashmir’s economy. But Kashmir will answer the terrorists.”Referring to Operation Sindoor, he said that the country stood united against terrorism. “Through Operation Sindoor, India has given a strong reply and the people of Kashmir stood with us,” he said.Goyal called on the people of Kashmir to work together to defeat terrorism, the way India has curbed Naxalism. “Just like we worked hard to end Naxalism and are close to eradicating it by 2026, we must unite to defeat terrorism in Kashmir,” he added.The Minister also paid tributes to His Holiness the Dalai Lama on his 90th birthday and Dr.Syama Prasad Mookerjee on his 124th birth anniversary.“The Dalai Lama is a symbol of peace and love,” he said. “I bow down to him on behalf of all Indians and pray that his blessings always remain with the people of India and Tibet.”On Dr.Mookerjee’s contribution, Goyal said that he entered Kashmir without a permit, raising the slogan that two constitutions, two prime ministers, and two flags will not run in one country. Goyal said that the abrogation of Article 370 on August 5, 2019, ensured equal rights for the people of J&K and brought democratic institutions to the grassroots.“All Indian laws were extended to J&K. Panchayat-level democratic institutions were formed, elections were held, and today, an elected government is working here,” he said.The Minister said that the “Vocal for Local” initiative must become the identity of J&K’s growth story. He appreciated the role of the National Traders Welfare Board President Sunil Singh in organizing the conclave and pushing for exports from Kashmir.
“We took an oath that we will be vocal for local and make local go global,” Goyal said. “We want Kashmir-made goods to reach the world and increase exports.”Goyal further said that the Centre and the J&K Government must work together to make the people of Kashmir more prosperous. “Both governments must work in coordination to boost local trade and ensure growth reaches every corner of the region,” he said.Earlier while addressing the participants of FTII Traders Conclave 2025, Goyalsaif that J&K will soon have a dedicated Centre of Excellence to support trade, startups, and innovation.
He also said that the government is working on a plan to harness solar energy by installing rooftop panels across 10 lakh sqft of industrial space at Lassipora Industrial Estate.”We are going to create a Centre of Excellence in J&K that will provide support for new technologies, research and development, and innovation in trade and industry. It will help in developing new ideas, startups, product designs and even new seed varieties in partnership with the local industry,” he added.He said the centre will operate in Public-Private Partnership (PPP) mode and will act as a hub for business-related support and industrial growth in the Union Territory.
Goyal also said the government is seriously considering a rooftop solar power project in Lassipora Industrial Estate. “Around 10 lakh sqft of rooftop space is available in Lassipora. I have asked my officials to submit a feasibility report. If viable, we will engage NTPC or Solar Energy Corporation to develop it. This can reduce power costs and promote green-certified exports from Kashmir,” Goyal said.
He added that green-certified products from Kashmir could attract higher value in global markets and contribute to sustainable industrial growth.Responding to issues raised by stakeholders, Goyal said the Finance Ministry will be approached to consider GST relief on handicrafts, especially those made by specially-abled artisans.
“Some handicraft items, especially those made by differently-abled artisans, need relief from GST. I have asked for a formal representation, and we will take it up with the Finance Ministry to explore how a 5% slab can be applied,” he said.
He further said that a packaging unit with design and branding facilities will be established in J&K to support local products in handicrafts, horticulture and handlooms. “Good packaging and design are essential to compete in the global market. I have asked my officials to identify a site and initiate the process to set up a packaging unit that can serve the industry for the next four to five years,” Goyal said.
Goyal said the FTII conclave aimed to promote the “Vocal for Local” campaign and ensure that local products go global.
“We want to increase exports from Kashmir and take our local industries to the world stage,” Goyal said. “The government is committed to support Kashmir’s business community with policy, infrastructure and global linkages,” he added.
