Jammu, Oct 10 (KNS): Jammu and Kashmir has witnessed a sharp rise in registered startups from 69 in 2020 to 1,305 in 2026, an increase of more than 1,800 per cent, Lieutenant Governor Manoj Sinha said on Saturday, expressing confidence that Global Capability Centres (GCCs) could emerge as a major component of the Union Territory's industrial ecosystem over the next decade.

Addressing the valedictory session of the J&K GCC Summit 2026, Sinha said the region was ready to attract multinational companies seeking new technology, innovation and talent hubs, citing its growing startup ecosystem, improving infrastructure, skilled workforce and investor-friendly policies.

"Jammu Kashmir is open and ready for Global Capability Centres. I am fully confident that in the next 10 years, Global Capability Centres can become a vital part of Jammu Kashmir's industrial ecosystem," the Lieutenant Governor said.

He said the Union Territory was positioned to benefit from the expansion of GCCs beyond India's metropolitan cities, particularly as multinational companies increasingly explore Tier-II and Tier-III locations for technology-driven operations.

Referring to the national GCC landscape, Sinha said India currently hosts more than 2,100 such centres, employing over 19 lakh professionals and contributing substantially to the country's exports.

He said the geographical expansion of these centres demonstrated that skilled talent was no longer concentrated in major metropolitan areas, creating opportunities for emerging regions such as Jammu and Kashmir.

Highlighting the growth of the local startup ecosystem, the Lieutenant Governor said the number of startups had increased from 69 in 2020 to 1,305, reflecting a growth of more than 1,800 per cent.

"The industrial revolution we are witnessing today in parts of the Jammu division and the Kashmir Valley is a living symbol of the new Jammu Kashmir," he said.

Sinha said graduates from institutions including IIM Jammu, IIT Jammu, NIT Srinagar and other universities could provide the skilled workforce required by multinational companies establishing technology and innovation operations in the region.

Outlining six advantages for potential GCC investors, he identified financial support, comparatively lower operating costs, special incentives for pioneering multinational investors, opportunities for the return of local talent, first-mover advantages and the potential to develop specialised technology services.

He said Jammu and Kashmir could particularly explore opportunities in agri-tech, tourism-tech and handicraft digitisation, sectors that combine the region's traditional economic strengths with emerging technological capabilities.

The Lieutenant Governor also presented a four-pillar roadmap for the next five years, focusing on talent development, investor confidence, destination-specific advantages and inclusive regional growth.

Under the first pillar, he stressed the need for stronger partnerships between educational institutions and industry to prepare students for specialised roles in global technology and business operations.Click Here To Follow Our WhatsApp Channel

The second pillar focused on building investor trust through credible implementation of policies and commitments, while the third sought to leverage Jammu and Kashmir's distinctive advantages to attract companies operating in specialised sectors.

The fourth pillar proposed a hub-and-spoke development model aimed at extending the benefits of GCC-led growth beyond major urban centres.

Sinha said the evolution of the GCC industry from cost-focused operations to high-value innovation and specialised capabilities presented an opportunity for Jammu and Kashmir to develop its own competitive strengths.

He expressed hope that the Union Territory could eventually move beyond hosting global companies' capability centres to developing innovations originating from the region.

Drawing a parallel with the Chenab railway bridge, the Lieutenant Governor said the structure reflected the confidence and ambition needed to pursue transformational development goals.

He also referred to the confluence of the Chandra and Bhaga rivers, which form the Chenab, as an example of how collaboration could create greater collective strength.

"I see Global Capability Centres in the same spirit of courage and confluence and together they can generate a strength far beyond their separate capabilities," he said.

The Lieutenant Governor credited infrastructure development, improved connectivity and industrial investments under Prime Minister Narendra Modi's leadership for strengthening the Union Territory's economic prospects.

He urged policymakers, academic institutions and industry representatives to work together to make Jammu and Kashmir a preferred destination for companies seeking their next innovation centre or talent hub.

The two-day summit, organised by IIM Jammu in collaboration with the Jammu and Kashmir government and NASSCOM, brought together policymakers, technology experts, industry leaders and academic representatives to examine investment opportunities, workforce development and the requirements for establishing GCC operations in the region.

Chief Secretary Atal Dulloo, NIIT Chairman Rajendra Singh Pawar, IIM Jammu Director Prof B S Sahay, Labour and Employment Secretary Kumar Rajeev Ranjan and senior officials attended the valedictory session.

The Lieutenant Governor said the discussions at the summit had laid the foundation for developing an innovation-driven industrial ecosystem capable of attracting global companies and generating new employment opportunities.

He expressed confidence that sustained cooperation between the government, industry and educational institutions could make GCCs an important contributor to Jammu and Kashmir's economic growth over the coming decade. (KNS)