Samba, Jan 29: Chief Minister Omar Abdullah on Thursday said the Union Territory is hoping for a substantial industrial package in the upcoming Union Budget to boost manufacturing and entrepreneurial growth.

Addressing reporters after inaugurating the Startup Mela at the J&K Entrepreneurship Development Institute (JKEDI) in Samba, Omar said unemployment cannot be resolved through government jobs alone. “Our expectation from the Union Budget is that we receive a good industrial package. Jammu and Kashmir has not received any central incentives for industry since 1990”.
He highlighted that the state government is coordinating with the Centre to ensure a meaningful industrial incentives package is provided to support local industries. The Startup Mela included distribution of seed funding to startups, release of capital grants to incubators, and felicitation of idea challenge winners.
Omar pointed out that incidents of harassment faced by Kashmiri shawl sellers in Himachal Pradesh and Uttarakhand have prompted the youth to look for opportunities locally rather than outside the UT. “Unlike some other states, I cannot simply tell our people to leave Jammu and Kashmir for jobs elsewhere,” he said.
On reviving sick units, the CM said the government will help those capable of restarting their businesses. Units unable to restart will be assisted in setting up new ventures, while land allocated to non-operational units will be reassigned to new entrepreneurs.
Omar stressed the importance of learning from entrepreneurial failures, citing global examples like Elon Musk. He said entrepreneurship in Jammu and Kashmir is not limited to manufacturing but also includes services and tech innovations such as Zomato, Blinkit, and Uber.
He added that educational institutions and JKEDI should be empowered to support startups effectively, including expanding seed capital provisions.