Igniting socio-economic growth: The G-20 Summit and Kashmir

IOK - Indian Occupied Kashmir Jammu & Kashmir

Kashmir is all set to host the first ever largest gathering of international leaders on its soil. The G20 or Group of 20 is a forum comprising 19 countries and the European Union (EU). It works to address significant issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. The G20 is composed of most of the world’s largest economies both developed and developing. It accounts for around 80 percent of the gross world product, 75 percent of the world trade, and 60 percent of the world’s land area. India holds the G20 presidency from 1st December 2022, with the presidency theme of ‘Vasudhaiva Kutumbakam’ – ‘One Earth One Family One Future’.

Kashmir is a paradise on Earth. Kashmir is famous for its culture, diversity, and hospitality. But this paradise has gone through decades of tension and has suffered a massive setback due to prolonged turmoil in the region. Decades of instability and conflict have taken a heavy toll on the economy and people and many parts of the region are still struggling to keep up with basic human needs. Kashmir is an economically backward and predominantly agricultural economy. It contributes 21%, 22%, and 57% share to the primary, secondary, and tertiary sectors of its economy respectively. The G20 Summit in Kashmir presents a unique opportunity for the region to present its cultural wealth, natural beauty, and unparallel tourism potential.

It is an important moment for the whole nation, and the youth of Jammu and Kashmir play an essential role in shaping the region’s future. They are excited about the immense opportunities and benefits that hosting G20 brings to the region, including the opportunity to interact with the world’s most influential leaders and thinkers. Furthermore, they have highlighted tourism development and climate change as areas that need special focus. The summit is expected to bring relief to the economy of Kashmir. The summit will definitely infuse a boost of boom into the economy, creating jobs and delivering growth. It will provide a platform for policymakers and investors to discuss and plan for the development of essential infrastructure and developmental projects.

I have a great love for my Kashmir. As a Kashmiri, I am pleased and excited that India is hosting the G20 summit in Srinagar, the capital of Jammu and Kashmir. Srinagar is the heart of Kashmir Valley and this hosting is hugely significant. The hosting of the G-20 in Kashmir is really a matter of pride for us all. I personally feel blissful to see various developments going on the eve of the G-20 delegate’s meeting in Kashmir. The renovation of Ghantagar, the renovation of road and construction of new roads, the cherished look of the Polo View market, the construction of roadsides along with flowering plants, the blue color of sign boards and magnificent paintings, lamp posts on roads within a short span of time adds to the scenic beauty are all set to welcome the special guests.

The J&K administration has already made elaborate arrangements for the G20 meeting, which includes the redevelopment of the city center Lal Chowk and areas surrounding the G20 meeting venue near Dal Lake. The G20 delegates during their stay in Kashmir are also scheduled to visit the famous tourist spot of Gulmarg, around 50 km from Srinagar, so the intelligence officials will also review the security arrangements at the famous ski resort in Baramulla district. The authorities are in continuous touch with the central government regarding the scheduled G-20 meeting here and some officials have come to review the arrangements to ensure the event concludes in the best possible manner and in a peaceful way. The administration in Baramulla is also all set to host G-20 meet in Gulmarg and all the security arrangements have been done to conduct it for the benefit of the District and for the whole region.

The meeting will mark the first major international event in the region since August 2019, when Article 370 was revoked Which provided Kashmir’s special autonomous status. By hosting the meeting in Srinagar, our country aims to highlight its rich geographic diversity. So far our country held G-20 tourism meetings in the states of Gujarat and West Bengal. Taken at face value, development in the entire Jammu and Kashmir UT suggests a return to normalcy in Kashmir.

Tourism figures for Jammu and Kashmir, broke records last year, although the tourism is mostly domestic. Investors are coming, too. In March, an Emirati property company announced a $60 million project to build a shopping mall and offices in Srinagar. Direct air corridors are reemerging. The G20 event is going to change the Whole Scenario in Jammu and Kashmir. Tourism which acts as the backbone of Jammu and Kashmir’s economy and its allied sectors like transport, handicrafts, handloom, hotels, etc will find a boost in its share. This event will also help Jammu and Kashmir to get known to even those parts of the world and people who are still unaware of Kashmir and its Beauty.

This event will also help to reduce the unemployment rate in Jammu and Kashmir. I hope this event will not only help to boost the economy but also increase the living standard of people. Hope this event will Impact the Socioeconomic life of Jammu and Kashmir.__dailygoodmorningkashmir.com