J&K lagging behind in industrialization; sectoral growth unsatisfactory: Survey

J&K lagging behind in industrialization; sectoral growth unsatisfactory: Survey

JAMMU: With ‘unsatisfactory’ growth, the industrial sector in Jammu and Kashmir is in constant decline leaving the state much behind the rest of India in industrialization, government data says.
The Economic Survey 2013-14 prepared and released by the Jammu and Kashmir government recently says that though the share of industry to Gross State Domestic Product (GSDP) is 23.50 percent, as per advanced estimates, for 2013-14, “but it is constantly decreasing.”
“J&K is much behind the rest of the country in industrialization,” the Economic Survey says.
Low growth in industry, the report says, estimated at 3.79 percent for 2013-14 compared to 9.77 percent for 2006-07.  The industrial economy even squeezed in 2010-11 with growth rate going down to -2.58 percent.
The share of industrial out put tp GSDP has decelerated from 29.06 percent in 2007-08 to 23.50 percent loosing 5.56 percent share on the same base, it says, adding, “Besides, its growth has also declined from 6.88 percent to 3.79 percent during this period.”
Average of last seven years puts the growth of industry below 3 percent (2.75%), which “is not satisfactory”, according the survey.
The report also points out that apart from these factors the share of industry in employment is very less especially in rural areas.
“In rural J&K out of 1000 persons only 84 are employed in industry and this indicator for urban J&K is 227 as per the employment-unemployment report 2009-10,” it adds.

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