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He said Jammu and Kashmir is one of the fastest growing regions in the country, with its economy projected to grow by 11 per cent at current prices, driven by sustained government initiatives and strategic policy interventions.
Addressing the main Republic Day function here, the LG said the tourism sector holds an important place in the economy of the Union Territory and it was given industry status in 2020 to attract more investments.
“Known as ‘Paradise on Earth’, Jammu and Kashmir is expected to record 1.61 crore tourist visits by November in 2025. Though this figure is lower than last year’s 2.36 crore visits (a decline of 32 per cent), given the adverse impact of the Pahalgam incident in April and subsequent floods, the government’s sustained and focused efforts have yielded encouraging and resilient results,” Sinha said.
He said that the government is making continuous efforts to develop world class tourist destinations with the financial assistance of the Union Tourism Ministry and external funding agencies.
“With a view to explore and unleash new tourism potential, nine new tourist destinations have been identified and projects are being prepared to develop these destinations as per international standards,” Sinha said.
He said that Kashmir Marathon is being developed as a major initiative for sports tourism and destination branding, which will position Kashmir as a global hub for sports and wellness tourism.
“The participation of Chief Minister Omar Abdullah further strengthened the confidence, unity and projected the image of Kashmir as a safe, open and welcoming destination. The first edition of Jammu Marathon has been formally launched and is scheduled for March,” the Lieutenant Governor said.
He said that at current prices the economy of Jammu and Kashmir is expected to register a growth rate of 11 percent. “The gross state domestic product (GSDP) of the Union Territory is estimated at Rs 2,62,458 crore for 2024-25, from Rs 2,36,059 crore in 2023-24. This positive trajectory underlines the effectiveness of the ongoing economic growth strategies, infrastructure expansion and business-friendly policies,” he said.
He said that industrial transformation is going on in Jammu and Kashmir. “Since 2020, 2,227 industrial units in the organized sector have started production, generating investment of Rs 15,940 crore and employment for 73,827 people.
“Additionally, 1,028 units with a proposed investment of Rs 27,613 crore have started ground work, of which 396 units with an investment of Rs 9,949 crore are expected to start production by March,” LG said.
He said that claims worth Rs 805 crore have been approved under the New Central Sector Scheme. Additionally, 1,316 Jammu and Kashmir-based startups have been registered on the DPIIT (Startup India) portal, including 471 women-led startups, reflecting the growing entrepreneurial momentum and national recognition.
Sinha said the Jammu and Kashmir administration is committed to the rehabilitation and welfare of Kashmiri migrant families.
“A total of 6,000 flats have been sanctioned for Kashmiri migrant workers working in the Valley, of which 3,736 flats have been completed and 3,250 have been allotted to eligible migrant families. The remaining flats are scheduled for completion by March,” he said.
The Lieutenant Governor called upon people of all generations to come together and actively support the Government in building a Jammu and Kashmir where youth enjoy equal opportunities, where women-led development promotes economic growth and social stability, and where unity, peace and commitment lead citizens to a brighter and more prosperous future.
He said, “I assure every citizen that this government will, with determination, continue to create and advance meaningful opportunities for all, enabling every individual to shape his or her own destiny and realize new aspirations.”