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The UT Administration of Ladakh is set to launch a dedicated Startup Policy next month with a financial allocation of 100 crore, aimed at empowering local entrepreneurs, driving innovation, and accelerating economic growth across the high-altitude region.
Outlining the administration's strategic vision, Administrative Secretary (PDD/PD&MD/I&C/MD SIDCO) Himanshu Gupta highlighted a comprehensive development framework focusing on value addition for traditional products like Pashmina, commercial scaling of agriculture through SIDCO, and fortifying rural livelihoods. Speaking to ANI, detailing the forthcoming startup framework conceptualised by the Lieutenant Governor, Himanshu Gupta stated that the preparatory guidelines are finalised, paving the way for a formal launch. Emphasising the policy's scope and targeted impact, Gupta said,"The LG envisioned the introduction of a startup policy for Ladakh. Guidelines for this policy have already been prepared, and we expect it to be launched next month. The government has allocated 100 crore for this initiative, which is expected to benefit approximately 1,000 startups." Beyond entrepreneurship, the administration is prioritising Ladakhs world-renowned indigenous industries, specifically the Pashmina wool sector, by bridging processing gaps and enhancing market access. Highlighting initiatives like the 'Pashmina Conclave', the Administrative Secretary explained,"Furthermore, Ladakh possesses unique characteristics and strengthsPashmina, for instance. We are placing special emphasis on the development of the Pashmina sector, organising events such as the 'Pashmina Conclave' to support this goal...Through SIDCO, we are also exploring ways to develop agriculture on a commercial scale. Our objective is to increase the flow of capital into the economy and enhance the skills of the local population, enabling them to pursue self-employment, manufacture products locally, and gain access to markets." Underscoring that sustainable regional progress depends on strengthening grassroots economic pillars, Gupta noted that targeted administrative interventions are being rolled out across farming communities."When it comes to rural development, special focus is being placed on agriculture and horticulture... Overall, the government's primary objective is to strengthen and develop the rural economy."(ANI)
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