Entrepreneurship - An era of change

Sabahat Nazir

Kashmir's gruelling unemployment scenario has been a serious concern for all for a very long time.The tenuous local economy has left many Kashmiris with few or no options for economic engagement.While unemployment impacts all sections of society, it particularly affects the youth who represent more than 71% of the population of the Kashmir Valley.Of the large cohort of youth between the ages of 18 to 30 in Kashmir, an estimated 48% are currently unemployed.Eradicating unemployment is one of the toughest challenges but a very critical problem that must be resolved.

 Despite hardships,there is hope for a better economic future in Kashmir.It is believed that the Interim Budget 2024 presented by the Finance Minister Nirmala Sitharaman and backed by Prime Minister Narendra Modi will have a positive impact on the developmental work in Kashmir.Tourism remains the backbone and lifeline of the economic landscape of Kashmir.Efforts are being made by the government and the locals to enhance the infrastructure necessary for the promotion and sustenance of this industry that caters to a large section of the population in terms of livelihood and recreation.Eco-tourism is the main area of concern as it is significant to recognise the link between environment and tourism and hence ensuring clean and green environment has always been the responsibility of the stakeholders so that mother nature is nurtured well.The picnic spots of Kashmir have been upgraded that has added to the charm of these stunning places.Tourism sector has a colossal scope of employment in the valley.

  Entrepreneurship in Kashmir does not have to be necessity driven- an option of last resort in the face of grim job projects.Increased awareness about the existing market opportunities through skill development and confidence building measures can attract and motivate young people towards entrepreneurship that can help in income generation and also in youth engagement.There will be a paradigm shift from being job seekers to being job providers.Barriers to entry in most sectors have significantly abated,opening vast opportunities for small startup companies like pickle manufacturing and distributing,saffron cultivation,agro based business,handicrafts and language training initiatives.If directed at the right market opportunities and equipped with the right and robust support, Kashmiri youth entrepreneurs could create value with relatively little capital.There are immense opportunities to offer new products and services that cater to the evolving demands of the local,domestic and international markets.Kashmir is an untapped market with a large dependency on the import of products and services generated outside Kashmir. Kashmiri entrepreneurs can also seize the expanding market opportunities in India and across the globe in a multitude of sectors and niche areas.

 The Agriculture Department offers several centrally sponsored schemes such as the Technology Mission and the Rashtriya Krishi Vikas Yojana to provide greater incentives,training and assistance for upcoming and budding entrepreneurs.There is hope that in the near future,the economy of India will blossom like never before with the youth of Kashmir contributing wholeheartedly to make 'Young India' more livable and lovable.