Omar Abdullah pitches for enterprise-driven growth in J&K, urges investors to tap potential

Jammu and Kashmir Chief Minister Omar Abdullah on Saturday said the Union Territory's future lies 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 speaking at the inauguration of IIMBue's Leadership Conclave 2026, a two-day annual event organised by IIMBAA, the alumni association of the Indian Institute of Management Bangalore (IIM-B).

Mr. Abdullah said the Union Territory's long-term prosperity would depend less on government spending and more on creating an ecosystem where enterprise can develop and thrive. He also stressed the need for an agriculture-led economic revival, arguing that 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 said.

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 added.

Mr. Abdullah further observed that 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, Mr. Abdullah identified agriculture, horticulture, and dairy as Jammu and Kashmir's biggest economic opportunities, despite these sectors being overlooked. "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.

He cited examples such as dairy processing, post-harvest management, and high-value horticulture as areas that could generate sustainable incomes and greater local economic benefits. For instance, only about 7% of the Union Territory's milk production is processed, with the remaining 93% sold raw. He also encouraged entrepreneurs to look beyond apples and explore premium crops such as blueberries.

Mr. Abdullah also argued that genuine economic transformation is driven less by electoral promises than by consistent policy reforms that endure 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.

The conclave serves as a platform for dialogue on entrepreneurship, policy, and regional development. Mr. Abdullah's remarks reflect the Union Territory's push to attract private investment and foster local entrepreneurship as part of its post-restructuring growth strategy.