Srinagar, Feb 7: The PHD Chamber of Commerce and Industry (PHDCCI), Kashmir Chapter, has lauded the Chief Minister for presenting a balanced and forward-looking budget for the Union Territory of Jammu & Kashmir for FY 2026–27. Despite tight fiscal conditions and a high share of committed expenditure on salaries and pensions, the budget outlines a pragmatic roadmap for long-term reforms and inclusive growth.

Mr. Vicky Shaw, Chairman, PHDCCI Kashmir, said, “With a limited revenue base and significant committed liabilities, the Chief Minister has delivered a visionary budget that prioritizes capital investment and sustainable development. The emphasis on future-ready foundations, while responding to immediate challenges arising from floods and security concerns, is highly commendable.”
The Chamber welcomed several key announcements aligned with industry expectations:
IT & AI Ecosystem: The proposal to establish IT/ITES Parks in Jammu and Srinagar, along with a ₹20 crore Centre of Excellence in Artificial Intelligence, is a transformative step that will spur innovation, attract investment, and generate high-value employment for youth.
Handicrafts & Handloom: Enhanced support to the Jammu and Kashmir Trade Promotion Organization (JKTPO) for buyer-seller meets, combined with GI-tagging initiatives and the upcoming Unity Mall (Crafts Bazaar), will strengthen market access, branding, and livelihoods of artisans.
Agriculture & Horticulture: Focus on High-Density Plantations, expansion of CA storage with targeted subsidies, the Restructured Weather Based Insurance Scheme, and new initiatives such as the ₹150 crore Aromatic and Medicinal Plant Mission and Embryo Transfer Technology Labs will modernize and diversify the agri-economy.
Education & Skill Development: Initiatives including JK e-Pathshala, upgradation of Anganwadis to Bal Vidyalayas, a four-track Skill and Entrepreneurship framework, new Atal Tinkering Labs, and ITI upgradation will strengthen human capital and create a future-ready workforce.
PHDCCI noted that the budget incorporates several of its recommendations, particularly on strengthening JKTPO’s marketing role and fostering the IT ecosystem. While acknowledging that not all industry demands could be met under fiscal constraints, the Chamber described the overall direction as positive.
The strategic use of Special Assistance to States for Capital Investment (SASCI) funds for infrastructure and reforms, alongside a focus on ease of doing business, industrial policy amendments, and support for MSMEs and startups, sends a strong signal of the government’s pro-business intent.
PHDCCI Kashmir reaffirmed its commitment to partnering with the UT administration to realize the budget’s vision and unlock J&K’s economic potential through collaborative efforts in infrastructure, technology, agriculture, and human development.