Prime Minister Narendra Modi’s vision of an ‘Atmanirbhar Bharat’ (self-reliant India) has been instrumental in shaping the startup culture in ‘Naya Jammu and Kashmir’.
After the revocation of Article 370, Jammu & Kashmir has witnessed a significant transformation with regard to the promotion of a startup culture. The initiatives and support of the administration have opened up a new world of opportunities for the youth. PM Modi’s emphasis on entrepreneurship and innovation has inspired the youth to believe in their abilities and set up their own enterprises.
According to officials, more than 500-odd start-ups have been registered in the Himalayan region after the Centre read down Article 370.
The key industries in which these startups have been launched include e-commerce, horticulture, agriculture, the food industry, tourism and crafts.
Jammu & Kashmir secured the top position among all UTs and in the Northeast region in the third edition of the ‘Ranking of States on Support to Startup Ecosystems’ published by the central government.
According to StartupIndia.gov, the Department of Industrial Policy and Promotion (DIPP) has recognized 544 startups in J&K, of which 186 are led by women.
Jammu & Kashmir Entrepreneurship Development Institute (JKEDI), over the past three years, has emerged as an important institution for budding entrepreneurs.
Under Seed Capital Fund Scheme (SCFS), the JKEDI provides seed money of up to Rs 7.5 lakh to eligible youth. The seed capital is a one-time grant given to entrepreneurs for making their business plans bankable. The remaining company expenses are covered by low-interest bank financing.
Under ‘Project Himayat’, an initiative of the Union Ministry of Rural Development, JKEDI aims to train 10,000 youth in J&K with entrepreneurial skills for sustainable livelihood and facilitate access to finance and support services for at least 50% of them in the coming three and a half years.
National Minorities Development Finance Corporation (NMDFC) and Youth Startup Loan Scheme (YSLF) have been introduced to promote and assist startups.
Incubation centres and startup hubs across Jammu and Kashmir are providing the necessary infrastructure, resources, and networking opportunities for startups to flourish.
The administration has set a target of creating 3000 startups in the next five years across all 20 districts of the Union Territory.
The security situation in J&K has improved significantly after the abrogation of Article 370. A secure environment has been created to assure investors that their investments are in safe hands. International and national investors have also been impressed by the success of startups in Jammu and Kashmir.
They have started taking notice of the region’s potential, leading to further collaboration and investment opportunities.
The government has also facilitated partnerships with financial institutions to attract investments in the region. This financial support has been instrumental in providing startups with the necessary resources to grow and scale their businesses.
Aspiring entrepreneurs being offered every possible help has built a strong startup ecosystem in the UT while enabling investors to come forward with their proposals to set up their units in the Himalayan region.
Till 2019 J&K youth were like a rudderless ship as the political leadership was not that keen on channelising their energies in a positive direction. However, the present dispensation has exhibited a strong commitment to promoting entrepreneurship.
Prime Minister Narendra Modi has instilled a sense of hope and optimism among aspiring entrepreneurs, who now envision a brighter future for themselves and their homeland.
Under PM Modi’s leadership, the government has recognized the potential of the youth in driving economic growth in the region.
The initiatives and policies implemented by the government have laid the foundation for a self-reliant “Naya Jammu and Kashmir,” where the youth are at the forefront of shaping their own destinies.
The startup culture in Jammu and Kashmir, propelled by government support has opened up new horizons for the youth.
During the past three years, youth have become a force to reckon with and are contributing to the economy in Jammu & Kashmir.
The startup ecosystem has not only created employment opportunities but has also fueled innovation, retained local talent, and attracted talent from other parts of the country.
PM Modi’s vision of a self-reliant India has served as a guiding light for the youth encouraging them to come forward with their ideas and turn them into viable businesses.
Before the advent of the startup culture, Jammu and Kashmir faced several challenges in creating a conducive environment for youth empowerment. However, the revocation of Article 370 marked a turning point.
The startup culture has unlocked the immense potential of the youth by providing them with opportunities to innovate, create jobs, and contribute to the economic development of the region.
By fostering an entrepreneurial mindset, startups have nurtured a spirit of independence, encouraging the youth to rely on their skills and abilities to create their own path to success.
The youth besides being provided with financial assistance are being trained to develop their skills by providing them with technical guidance.
Workshops, seminars, and boot camps are being organised to impart entrepreneurial skills, business management knowledge, and technical expertise. These initiatives have equipped the youth with the skills required to navigate the challenges of entrepreneurship and succeed in their ventures.
These startups have not only created employment opportunities for the youth but have also brought innovation and efficiency to traditional sectors.
The technology-based startups have revolutionised the tourism industry by introducing online booking platforms and enhancing the overall visitor experience. Similarly, agricultural startups have introduced modern farming techniques and value-added products, improving productivity and profitability for farmers.
The startup ecosystem has also played a crucial role in preventing brain drain. In the past, skilled individuals were compelled to leave the region in search of better opportunities elsewhere.
During the past three years, the government has opened new vistas and avenues for the youth of J&k in their native land. They are taking full benefit of the schemes that have been designed for them. Youth have become an integral part of PM Modi’s vision to build ‘Naya Jammu and Kashmir’. (ANI)
