SRINAGAR: In a significant move, the Governor administration in Jammu and Kashmir has approved first-ever Trade and Export policy of the State to boost exports, create niche market for local products and to keep pace with the fast-changing economic developments. The State Administrative Council (SAC), which met here last evening under the chairmanship of Governor N N Vohra gave nod to the J&K Trade & Export Policy, 2018-28.
The policy, which lays out the roadmap for transition of the State's agrarian economy to a market driven economy with the trade and commerce emerging as pivotal pillars in the shift towards new economic structure, shall be valid for 10 years or till a new trade and export policy is announced by the State. It would facilitate transformation of the state economy from a supply constrained one into a competitive export-led entity.
J&K is known for locally made goods including Silk, Tweed, Pashmina and Shawls, Silk carpets, Ladakh Carpets, Paper Machie, Embroidery, Ladakhi Handicrafts, Saffron, Jammu Basmati. Principal Secretary, Industries & Commerce Shailendra Kumar said the Trade and Export Policy is aimed at assisting J&K in carving a place for itself in the national economy and a niche market for its products at the national and international levels. He said the private sector would be the lead stakeholder in the new endeavor and the State's unique products and services would enable it to occupy rightful place in the global markets.
"The Government's role will be only that of an enabler and facilitator in this process. The role of trade sector towards realization of the goal of economic development will be attained through structural transformation on the economy and enhanced value-added productivity that would in turn contribute to the process of competitiveness and lead to rapid economic growth," Kumar said.
Enumerating the broader objectives of the trade and export policy, he said it will facilitate enhancing State's domestic trade volume to five times from the present level in next 10 years and to transform the system from regulator to facilitator and from performer to enabler. "It will also facilitate more investment in enterprises, help increase share of Trade & Commerce in GDP by at least 3% in next 5 years and to add to per capita income of the State, to help raise share of State in Gross National Export from the existing 0.05% to 2% in next 5 years, to help create employment opportunities for the educated unemployed and skilled youth in the field of trade and commerce, to facilitate Warehousing & Logistic support strategy and create support system for international certification, packaging, Common Facility Centres," he said.
Kumar said as part of the policy, the State government would support establishment of world-class warehouses/distribution centres/logistics parks/dry ports by allotting land and providing incentives for such activities. "It would also facilitate better road, rail and air connectivity to and from the State besides developing Communication & Logistics Infrastructure," he said. Regarding branding of local products in the global markets, he said efforts are on to get Srinagar City included in the UNESCO Creative Cities network under the category of Crafts & Folk Art.