It is a welcome step that the State Government , even if a bit late, has realized the importance of the volume of trade in Jammu and Kashmir getting a fillip in an environ and the climate of widening the confines of trade and commerce with special emphasis on exports . Towards this end, measures of Ease of Doing Business notwithstanding, it has come up with its first official policy on Trade and Export.
Diversifications and a shift from trading in and about traditional sectors with a view to get attuned to new trends and structures in markets, domestic and international are market compulsions. In our case, a shift or a transition from agrarian economy, testing new commercial vistas, is paramount to increase the volume of trade not by petty percentage points but hopefully as many times as we set our targets for.
The policy has been drafted by the State Industries and Commerce Department in consultation with various stake holders and approved by the Governor headed State Administrative Council. This policy , if implemented with all seriousness it deserves, among other things, would generate employment opportunities for our educated unemployed youth in a phenomenal proportion since with various measures proposed to be adopted were slated to enhance the domestic trade volume by five times in next 10 years, a proposed achievement no mean by any standards. The trade will have its share in the Gross Domestic Product by at least three percent and raise the share of the State in Gross National Export from the existing 0.05 percent to two percent in next five years.
We wish more stress was laid on the actual implementation of the provisions of the Trade and Export Policy so that Jammu and Kashmir finds its name among those States of the country doing comparatively better in trade and promotion of exports which among other things, could be possible to respond to open market system by adopting re-orientation of the economy and bringing in more reforms in it.
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