J&K’s real growth lies in setting enterprises; come and unlock growth, Omar Abdullah tells investors

Updated - August 08, 2026 05:50 pm IST - Bengaluru

Jammu and Kashmir Chief Minister Omar Abdullah during the inauguration of IIMBue 2026, in Bengaluru, on Saturday. | Photo Credit: PTI

Jammu and Kashmir Chief Minister Omar Abdullah, here on Saturday, said the Union Territory’s future lay in enabling ordinary citizens to create businesses by improving access to finance, markets, technology and mentorship, rather than relying solely on State support.

He was inaugurating IIMBue’s Leadership Conclave 2026, a two-day annual event organised by IIIMBAA, the alumni association of the Indian Institute of Management Bangalore (IIM-B).

Mr. Abdullah said the Union Territory’s long-term prosperity would hinge less on government spending and more on creating an ecosystem where enterprise can develop and thrive. He also said an agriculture-led economic revival was required, as lasting prosperity would come not just from tourism, subsidies or headline-grabbing projects, but from enterprise-driven value addition in farming and allied sectors.

“A government’s task does not end with what it builds. It has to rebuild confidence, reduce uncertainty, improve predictability and restore the belief that effort will find opportunity,” he added.

While governments could build roads, schools and hospitals, sustainable economic growth ultimately depended on whether citizens were willing to invest, innovate and take entrepreneurial risks, he said.

Mr. Abdullah further said land was the defining productive asset of the last century, but enterprise occupies that position today.

“If land was the productive asset of that age, today ours is enterprise. Broadening access to enterprise is the modern equivalent of broadening access to land,” he elaborated.

Addressing a packed audience of IIM-B students and alumni who are now industry leaders, he said Jammu and Kashmir’s biggest economic opportunity currently lies in agriculture, horticulture and dairy, sectors that remain overlooked despite contributing the largest share to the Union Territory’s economy.

“Jammu and Kashmir is an agrarian society. The largest contribution to our GSDP comes from agriculture, horticulture and allied services. The biggest opportunities are still there, even if they are not glamorous,” he said.

Mr. Abdullah said sectors such as dairy processing, post-harvest management and high-value horticulture could generate sustainable incomes and create far greater local economic benefits for the Union Territory.

For instance, he said, only about 7% of Jammu and Kashmir’s milk production was processed, while the remaining 93% was sold raw.

He also identified post-harvest management and crop diversification as critical areas for entrepreneurs, saying Jammu and Kashmir should look beyond apples and expand into premium crops such as blueberries.

Mr. Abdullah also argued that genuine economic transformation was driven less by electoral promises than by consistent policy reforms that endured across political cycles.

“The change of orbit happens through smaller decisions, not necessarily the big-ticket announcements that make election manifestos. Those decisions may never make headlines, but they create inclusive and locally beneficial growth,” he noted.

Published - August 01, 2026 09:59 pm IST

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