Srinagar: The Government of Jammu and Kashmir is trying to create conditions for attracting external investment to the industrial sector.

Speaking at a conference on ‘Bio-Pharma Hub: Advantage Jammu and Kashmir’ recently, Chief Minister Omar Abdullah said: “To make J and K an industrialized state, it is important to focus on its core strengths.”

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) in collaboration with J and SIDCO organized the conference, in which Abdullah unveiled an ASSOCHAM study titled ‘Realizing Growth Potential of J and K.

Suggesting that the bio-pharma industry suits J and K, Abdullah said: “We do have certain inherent advantages and core strengths that we need to capitalize on and one of them is bio-pharma wealth that J and K is blessed with.”

Abdullah said this wealth was not confined to any one region in the state, but was spread across regions of Jammu, the Kashmir Valley and Ladakh.

He said the bio-pharma industry was not too dependent upon electricity unlike other industries in the state. Besides, he emphasized the need for creating a pool of skilled work force in the state which should be able to meet the demands of industries coming up.

Abdullah said there was already a huge talent pool of young educated boys and girls available in the state, but added that they needed to be attuned to the requirements of the bio-pharma industry. He assured that this could be taken care of through the holding of several skill development programs.

“This is because we realize that it really doesn’t serve our purpose if we encourage the investment and yet the skilled manpower is not available,” he added.

Stating that sectors like tourism, handicrafts, handlooms and agriculture etc. could generate huge employment in the state, the chief minister said: “And, bio-pharma must rank in top three possible industrial activities that could be tried in J and K,” he said.

He underlined that bio-pharma and information technology were the two industries having maximum potential.

“IT requires nothing except the skilled man-power and digital connectivity. And for bio-pharma, raw-material is abundantly available in J and K,” he said. “That is why this ASSOCHAM initiative to focus on J&K as bio-pharma hub has come up as very timely. And in the first instant, I really would hope that some local entrepreneurship is developed out of today’s efforts,” he added.

On the issue of electricity, Abdullah said the government was working towards improving the quality and quantity of power.

The Baglihar Phase II, he said, shall start after final nod came from the Central Electricity Authority. He informed that negotiations were on for 1200 MW Sawlakote Hydroelectric Project within the state government.

About having a better road and railway connectivity with other parts of India, Abdullah said: “By next year, the second road connectivity between the Valley and the rest of the country shall be available via Mughal Road.”