'J&K has vital role in building self-reliant India'
Srinagar, July 6: Union Commerce and Industry Minister Piyush Goyal on Sunday said that Jammu and Kashmir's traders, artisans and entrepreneurs have an important role in shaping India’s economic future and assured that the Central Government will extend full support to strengthen local industry, exports, and innovation in the region.
Addressing the Traders’ Conclave – 2025 organised by the Federation of Trade and Industry of India (FTII) at SKICC Srinagar, Goyal said the spirit of “Vocal for Local” must take root in every corner of India and be the foundation of Viksit Bharat.
“From the shopkeeper in Srinagar to the artisan, everyone is a contributor in building a self-reliant India,” Goyal said.
Ahead of the conclave, the Union Minister held separate meetings with business representatives, including a delegation of the Kashmir Chamber of Commerce and Industry (KCCI) and the MSME Development Forum. The discussions focused on key local trade challenges and policy issues, with emphasis on the need to reduce the Goods and Services Tax (GST) on handicrafts and handloom items, improvement in packaging infrastructure, and the promotion of horticulture-based value chains.
Goyal assured the delegations that he would recommend the reduction of GST on handicraft and handloom products from 12 to 5 percent and would raise the matter with the Finance Ministry. He also agreed to explore the establishment of a regional centre of the Indian Institute of Packaging in Kashmir to support local producers and exporters.
“The handicrafts and horticulture sectors of Jammu and Kashmir deserve greater global exposure and value addition. The Centre will work with local stakeholders to create that ecosystem,” Goyal said.
He also backed proposals for a Centre of Excellence for Startups and Innovation in the region under a public-private partnership model and suggested convergence with the Ministry of Agriculture to support agri-entrepreneurship and research-led development in rural value chains.
On the industry’s proposal for clean energy adoption, the Minister responded positively to the idea of setting up a solar power project at Lassipora Industrial Estate, which could help reduce energy costs and support green-certified production in the region.
Addressing concerns raised by fruit growers, Goyal said that the Centre will examine the issue of price instability and production-demand mismatch in the horticulture sector. “We are committed to ensuring better returns for our growers while maintaining a balanced market approach,” he said.
Referring to Kashmir’s reputation for high-quality artisan products, the Minister noted that Kashmiri crafts are now widely recognised abroad. “Just recently, our Prime Minister gifted a GI-certified Pashmina shawl to the President of Ghana. This highlights India’s soft power and the unique contribution of Kashmir to our cultural diplomacy,” he said.
Goyal also condemned the recent terrorist attack in Pahalgam and said that the unity shown by the people of the region sent a strong message to the world. “Tourism is one of Kashmir’s greatest strengths, and peace is the basis of economic progress,” he added.
The Minister highlighted recent infrastructure developments in Jammu and Kashmir, including the launch of the Vande Bharat train, the USBRL railway corridor, the Peer Ki Gali tunnel, and the Chenab and Anji bridges, describing them as transformative for regional connectivity and commerce.
He called for sustained promotion of tourism through cultural events, trade conclaves, and yatras to invite greater national and global attention to Kashmir’s new developmental phase. He also praised the growth of homestays in the region, describing them as a powerful tool for employment generation and immersive tourism.
Reaffirming the Centre’s focus on expanding India’s export footprint, Goyal said the government is enabling new exporters, targeting new global markets, and focusing on high-value, low-shelf-life sectors—many of which are relevant to Kashmir.
“India is not only producing for itself but also for the world. When we promote Made in India goods, we honour the skill and pride of our people,” he said.
He urged the business community in Jammu and Kashmir to work with focus and determination. “Whatever you take up, complete it with full energy. Don’t leave it halfway. The country is moving ahead and Jammu and Kashmir will move ahead with even greater speed,” he said.
The event was attended by Sunil Singhi, Chairman of the National Traders Welfare Board, Satish Sharma, Cabinet Minister in the J&K Government, senior functionaries of FTII, and business representatives from various sectors across the region. The conclave marked a renewed focus on aligning Jammu and Kashmir’s economic trajectory with the national vision of Viksit Bharat @2047.
