BUSINESS

Jammu Kashmir has recorded a 19.6% increase in milk production in 2023-24, reaching 2,993 thousand metric tonnes (MT), up from 2,503 thousand MT in the previous year. The Economic Survey Report 2023-24 has set a target of 3,400 thousand MT for 2024-25. The region currently produces around 70 lakh litres of milk daily, with Kashmir contributing 40 lakh litres and Jammu 30 lakh litres. Between 2018-19 and 2022-23, milk production increased by only 1.7%, from 2,460 thousand MT to 2,503 thousand MT. 40% of the new dairy units established in the past year are owned by individuals under 35, many with backgrounds in business, agriculture, or veterinary sciences. Several initiatives have contributed to the increase in production, including the expansion of artificial insemination coverage...

Bhat Yasir The Jammu Kashmir Legislative Assembly has introduced the Jammu Kashmir Goods and Services Tax (Amendment) Bill, 2025, bringing significant changes to the taxation system in the region. The bill, which amends the J&K GST Act, 2017, aligns the region’s tax laws with national GST reforms while expanding the taxation scope to include digital services like online gaming and virtual digital assets. One of the most notable changes, as per a copy of the bill accessed by The Kashmiriyat, is the inclusion of online gaming, betting, casinos, and virtual digital assets (VDAs) in the tax net. The amendment defines online money gaming as any digital game where players deposit money or virtual assets with the expectation of winning monetary rewards. Additionally, virtual digit...

Jammu Kashmir recorded a total honey production of 17,701.57 quintals in the 2023-24 financial year, with Anantnag emerging as the top-producing district, according to data released by the Agriculture Production Department, Jammu Kashmir. According to data, with a total of 214,504 functional beehives across the UT, the honey industry remains a key part of JK’s agricultural economy, with private beekeepers contributing the majority of the production. Anantnag topped the list with 4,029.06 quintals, followed by Ramban (3,654.80 quintals) and Kupwara (1,140.00 quintals). The contribution of private beekeepers is evident, as government-supported production remains marginal. Jammu produced 1,100.35 quintals of honey, while nearby Udhampur (673.35 quintals) and Doda (370.89 quintals) al...

Dismissing concerns over land allotment to non-local investors, Wani stated that bringing businesses from outside Jammu Kashmir was not a new development. "Who said people from outside cannot do business here? Investors were invited earlier as well, but the situation was not favourable. Now, efforts are being made to generate employment, so what is wrong with that? Let them come and invest. We hope the Lieutenant Governor approves the proposal," he said. Official data reveals that since 2016, a total of 6,816.25 kanal of land has been allotted to 213 non-local investors under the Jammu and Kashmir Industrial Policy 2016-26 and the amended Industrial Land Allotment Policy 2021-30. Of this, 6,408.25 kanal was allocated to 205 investors in the Jammu region, while eight investors receive...

Over 200 investors from outside Jammu Kashmir have been provided land in the industrial estates to set up their business units in Jammu Kashmir in the past decade, official data said. The process of land acquisition by outside investors, mostly from Delhi, Haryana and Punjab, marked manifold increase after the abrogation of Article 370 and the bifurcation of the erstwhile state into two Union Territories in August 2019. According to the data shared by the industries and commerce department, the majority of investors preferred Kathua and Samba districts in the Jammu region to establish their firms compared to a very few businessmen showing interest in Kashmir. Under the industrial policy 2016-26, a total of 28 businessmen from different parts of the country were allotted over 500 k...

The Kashmir Valley Fruit Growers Cum Dealers Union (KVFGDU) has appealed to Prime Minister Narendra Modi and Union Agriculture Minister to intervene in order to curb the influx of imported apples, which they argue is jeopardizing the local fruit industry, Kashmir News Observer reported. In letters sent separately to both officials, KVFGDU highlighted the growing concerns over the impact of imported apples on Kashmir's horticulture sector, a crucial part of the region’s economy. The union emphasized that over 700,000 families depend directly or indirectly on the sector. The letter to the Prime Minister stated, “India is one of the largest apple producers globally. However, the surge in imported apples is severely affecting fruit growers in JK, Himachal Pradesh, and Uttarakhand, pushin...

In early 2023, the central government reduced the monthly rice allotment to Jammu and Kashmir under the Public Distribution System (PDS), limiting the supply to five kilograms per person from the earlier 35 kilograms per family. The move, justified under a nationwide ration rationalization, left thousands of families struggling to afford rice in a region where it remains a staple. In his first budget as Jammu Kashmir’s finance minister, Chief Minister Omar Abdullah has attempted to respond to the crisis. Presenting the budget on March 7, Abdullah announced an additional 10 kilograms of free rice per month for Antyodaya Anna Yojana (AAY) families. The provision is expected to benefit over 3.2 lakh families, but some question whether it tackles the root issue of economic vulnerability or ...

Muttiah Muralitharan’s company, M/s Ceylon Beverage, has decided to pull out of its proposed Rs 1,650 crore investment in Kathua, Jammu Kashmir, Deccan Herald reproted. The withdrawal follows the expiration of incentives under the 2021 National Sector Industrial Policy, which ended in September 2024. The company had initially planned to establish a production plant in the region, but without an extension of the incentives, the plans have been abandoned. Ceylon Beverage formally applied to back out of the project on March 6, confirming that the plant would now be relocated to Pune. The decision came after a prolonged wait for an extension of the policy incentives, which have yet to be approved by the central government. The land allocation to Ceylon Beverage in Kathua sparked contr...

A Central Reserve Police Force (CRPF) man posted with the B/117th of the CRPF at Rajbagh in Central Kashmir's Srinagar died of cardiac arrest Tuesday. Officials told news agency JKNS that the CRPF personnel suddenly complained of chest pain, after which he was referred to the nearest medical health care center. They said the CRPF personnel later died of cardiac arrest. He has been identified as Jiterndera Devidass, a resident of Jalgaon in Maharashtra. Meanwhile police have taken cognizance of the incident.—(JKNS)

Contrary to concerns about a decline, the horticulture industry in Jammu Kashmir has shown positive growth in recent years, according to a government response tabled in the legislative assembly. The reply, addressing an unstarred question regarding the promotion of the apple industry, reveals an increase in both production and exports of horticultural produce. As per the details available with news agency JKNS stated that during 2021-22, the production stood at 23.41 Lakh Metric Tonnes (LMT) with 12.07 LMT exported outside the Union Territory (UT). During 2022-23, the Production increased to 27.21 LMT and exports rose to 17.48 LMT and during 2023-24, the production remained strong at 26.43 LMT with exports reaching 18.57 LMT while in 2024-25 (up to February), the poduction is projected ...