The delay in finalising J&K’s Export Policy-2024, due to reservations raised by the Finance Department, is a setback to a much-needed economic intervention. The proposed Export Policy is ambitious in its vision: to transform J&K into an export-driven economy by incentivising exporters, developing infrastructure, and tapping into both traditional and emerging sectors. From globally acclaimed handicrafts and GI-tagged products to modern domains like pharmaceuticals and electric mobility, the policy aims to position the UT as a competitive export hub. Yet, instead of acting as a catalyst, indecision risks derailing the momentum before it even builds. In an era where trade dynamics shift overnight, holding back policy implementation for months simply defeats the purpose. While checks and balances are vital, excessive procedural inertia turns well-intentioned blueprints into stillborn ambitions.
Export incentives are not handouts-they are strategic investments that yield exponential returns in terms of job creation, foreign exchange, and regional development. For J&K, which is striving to rewrite its economic story, export-led growth is not just desirable but necessary. Delaying support mechanisms and incentives that could empower artisans, entrepreneurs, and emerging industries sends the wrong signal to both existing and potential exporters. One of the key criticisms of the process is that while the draft policy was shared with the public for feedback and later submitted to the Finance Department for vetting, the inter-departmental disconnect now threatens to undo the entire effort. Why weren’t fiscal implications assessed in parallel while drafting? These gaps reflect a systemic flaw that continues to plague governance-departments working in silos instead of in synergy.
The Government must realise that time is a critical currency in today’s global trade ecosystem. Opportunities lost due to bureaucratic delays rarely come back. If policies are to truly serve their purpose, they must be timely, responsive, and executable. Especially in a region like J&K, where the economic potential lies largely untapped, delays only prolong dependence and underdevelopment. Exporters and entrepreneurs cannot wait endlessly for clarity. The Export Policy must not become another file lost in red tape. It is time to act-decisively and swiftly-to set the ball rolling for a stronger, export-orientated economy in J&K.
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