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Unemployment Rate in J&K Decreases to 6.1%, According to Economic Survey
According to the Economic Survey Report (ESR) for 2025, Jammu and Kashmir’s economy is projected to grow by 7.06% in real terms, with the nominal Gross State Domestic Product (GSDP) expected to rise by 11.19% in 2024-25.
The export sector has demonstrated resilience post-COVID-19, with an impressive rebound in handicraft exports. In 2023-24, exports included carpets (₹317.33 crore), woollen shawls (₹477.24 crore), paper-mache items (₹38.44 crore), and other goods (₹329.28 crore), amounting to a total of ₹1,162.29 crore—doubling from ₹563 crore in 2021-22. The Union Territory improved its position in the Export Production Index (EPI), rising from 35th in 2020 to 17th in 2022.
The report also notes a record number of tourist visits to Jammu and Kashmir in 2024, reaching 2.36 crore, with 0.65 lakh foreign tourists, 5.12 lakh Amarnath pilgrims, and 94.56 lakh Vaishno Devi pilgrims. The G20 Tourism Working Group meeting held in Srinagar in May 2023 contributed to the resurgence of tourism in the region.
The start-up ecosystem in Jammu and Kashmir has also flourished, experiencing a remarkable 287% increase in DPIIT-registered start-ups—from 237 in 2020 to 917 in 2024, of which 333 are women-led.
In the context of changes following the abrogation of Article 370, the report highlights that Jammu and Kashmir underwent reorganization on October 31, 2019, resulting in the application of 890 Central laws, while 205 State laws were repealed and 130 modified. The fundamental legal frameworks now align with those of the rest of the country, introducing progressive legislations such as the Right to Education and various acts aimed at protecting women, children, and the disabled. Gender discrimination has ceased, and the rights of women marrying outside Jammu and Kashmir are now fully safeguarded.
The per capita income in the region is anticipated to reach ₹1,54,703 by 2024-25, reflecting a robust increase of 10.6%, indicating enhanced economic well-being for residents of Jammu and Kashmir.
Additionally, Jammu and Kashmir possesses an estimated hydropower potential of 18,000 MW, with around 14,867 MW identified. This includes 11,283 MW available in the Chenab basin, 3,084 MW in the Jhelum basin, and 500 MW in the Ravi basin. However, only 3,540.15 MW—approximately 23.81% of the identified potential—has been harnessed to date, consisting of 1,197.4 MW in the State Sector, 2,250 MW in the Central Sector, and 92.75 MW via Independent Power Producers (IPP).
The Economic Survey also addresses the importance of the forest cover in this mountainous Union Territory. Covering over 20,194 square kilometres, or 48% of Jammu and Kashmir’s geographical area, these forests are vital for the regional economy, facilitating tourism, recreation, timber supply, firewood, minor forest products, and grazing lands. They also ensure a reliable water supply.
Jammu and Kashmir has designated 4,861.28 square kilometres as a Protected Area Network, which includes four national parks, 14 wildlife sanctuaries, and 30 conservation reserves (including 14 wetlands) aimed at conserving wildlife.
Noida: A man died by suicide after jumping from the 43rd floor of the Supernova Tower in Noida on Saturday.
The incident took place at the Supernova complex in Sector 94. A video shows the man standing near the railing before jumping. Another person tried to stop him but could not prevent the incident.
Police identified the deceased as Sambhav Jain, a resident of Manesar, Haryana. He had reportedly checked into an Airbnb in the building on Friday and was scheduled to leave on Saturday.
Police said Jain had called his father several times before the incident. His family has been informed.
The police and forensic teams inspected the spot and collected evidence. CCTV footage is also being checked as part of the investigation.
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Police said Jain was reportedly under severe financial stress. His body has been sent for a post-mortem examination.
The investigation is underway.
New Delhi: Prime Minister Narendra Modi spoke to Captain Smit Machchhar over a video call and praised his courage after he helped prevent a major air disaster.
Captain Machchhar was seriously injured after his co-pilot allegedly stabbed him during a flydubai flight from Dubai to Tel Aviv on Wednesday. The Boeing 737 MAX reportedly lost nearly 14,000 feet in less than 30 seconds.
Passengers and crew members entered the cockpit and overpowered the co-pilot. A second pair of pilots then took control and safely landed the aircraft in Tabuk, Saudi Arabia. More than 170 passengers and crew were on board.
Speaking from his hospital bed, Captain Machchhar told PM Modi that he was badly injured and had collapsed in the cockpit. He realised that the aircraft was rapidly losing altitude and that he had to act.
“I could not let all those people die,” he told the Prime Minister.
Captain Machchhar said his 17 years of flying experience helped him understand what was happening to the aircraft. He managed to open the cockpit door, after which passengers and crew came to his help.
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He also said he was chanting the Hanuman Chalisa while fighting the pain and fear.
PM Modi praised the captain’s courage, patience and presence of mind. He said Captain Machchhar’s actions helped save many lives and called his effort a “monumental task.”
Captain Machchhar, who is from Gujarat, has more than 9,750 flying hours and has served as a captain for 11 years.
Gandhidham: India has taken a major step towards green shipping with the foundation stone laid for the country’s first port-based e-methanol production facility at Kandla in Gujarat.
Gujarat Chief Minister Bhupendra Patel, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, and Assam Chief Minister Himanta Biswa Sarma laid the foundation stone at the Deendayal Port Authority (DPA) on Saturday.
The Rs.2,300-crore project is a joint initiative of the Deendayal Port Authority and Assam Petro-Chemicals Ltd. The plant will produce 150 tonnes of e-methanol every day using renewable power, water and biogenic carbon dioxide.
E-methanol is considered a cleaner alternative fuel for the shipping sector. The facility will supply green fuel to ships operating on the Asia-Europe trade route.
The project will be developed in two phases. The first phase will have a production capacity of 50 tonnes per day and involve an investment of Rs.1,200 crore. It is expected to be completed by January 2027.
The second phase will add another 100 tonnes per day at an estimated cost of Rs.1,100 crore. It is targeted for completion by March 2027.
The Deendayal Port Authority will hold a 76 per cent share in the project, while Assam Petro-Chemicals Ltd will have a 24 per cent stake. DPA will provide Rs.567.32 crore as equity, along with 75 acres of land, desalinated water and renewable energy support.
The project is expected to create more than 3,500 direct and indirect jobs. It will also support activities such as transportation, storage and supply of green fuel around Kandla.
Speaking at the event, Bhupendra Patel said Gujarat’s coastline would play an important role in supplying green energy to the world. He described Kandla as a future gateway for India’s green energy exports.
Sarbananda Sonowal said the project marked another step in India’s growing maritime ambitions. He said Kandla could develop into a major green-fuel hub on the Singapore–Rotterdam shipping route.
Himanta Biswa Sarma said Assam would contribute to India’s clean energy transition through its natural resources and industrial strength. He described the project as an example of cooperation between Assam and Gujarat.
The facility is expected to support India’s long-term goal of achieving net-zero emissions by 2070. It is also linked to the government’s focus on energy self-reliance and the Make in India initiative.
The government is also working to strengthen India’s maritime sector. It has set a target of adding 100 new ships to the country’s merchant fleet over the next five years.
Several other maritime projects are also being developed in Gujarat, including a Rs.1,520-crore shipbuilding project at Vadinar and a proposed shipbuilding and repair cluster at Kuchhadi in Porbandar.
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Kutch MP Vinod Chavda, Gandhidham MLA Maltiben Kishor Maheshwari, Assam government representatives, officials of Assam Petro-Chemicals Ltd and DPA Chairman Sushil Kumar Singh were among those present at the foundation stone ceremony.
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