Jammu & Kashmir

The Institute of Chartered Accountants of India (ICAI) has announced plans to establish a Centre of Excellence in Jammu and Kashmir, a move aimed at strengthening professional education, fostering skill development, and creating new opportunities for local youth. The initiative seeks to provide world-class training facilities, research support, and professional guidance in accounting and finance.

A fierce exchange of gunfire broke out between security personnel and suspected militants in the remote Kishtwar district of Jammu and Kashmir, intensifying concerns over a resurgence of insurgency in the region. According to initial reports, the confrontation began during a coordinated search operation and quickly escalated into a prolonged firefight. While casualties have not yet been officially confirmed, security sources indicated that the encounter involved heavily armed operatives possibly linked to cross-border terror networks.

Radisson Hotel Group, a global hospitality leader headquartered in Belgium, has set its sights on a major expansion in India, aiming to double its hotel portfolio over the coming years. With over 200 operational properties already, the group is focusing on inclusive, sustainable growth, particularly in Tier-II, Tier-III, and Tier-IV cities. The company plans to add 8,000 new rooms and create approximately 16,000 new jobs.

Jammu and Kashmir Bank has appointed Ketan Kumar Joshi as its new Chief Financial Officer (CFO) for a three-year term, succeeding Fayaz Ahmad Ganai. Joshi brings over 20 years of multifaceted experience in banking and finance, having held key leadership roles across Indian and international financial institutions. Prior to this role, he served as CFO at North East Small Finance Bank and played a pivotal role in significant system migrations and capital growth initiatives.

The Apple Farmers Federation of India (AFFI) announced its participation in the nationwide general strike scheduled for July 9, aiming to amplify apple growers’ longstanding demands. Central among these is a push for raising the import duty on apples to 100 percent, a plea that remains unaddressed by the government. With major apple-producing states like Jammu & Kashmir, Himachal Pradesh, and Uttarakhand facing rising input costs and absent minimum support price (MSP) guarantees, farmers are voicing their frustration.

In anticipation of the 2025 Amarnath Yatra, the Jammu and Kashmir administration has imposed a stringent no-fly order across both traditional pilgrimage routes — Pahalgam and Baltal — from July 1 to August 10. The directive, issued by the Union Territory’s Home Department under the leadership of Lieutenant Governor Manoj Sinha, prohibits the use of aerial devices including drones, UAVs, and balloons. The move comes in response to prevailing security concerns, particularly in the aftermath of a fatal terror attack earlier this year.

Cube Highways Trust has finalized the acquisition of two critical highway assets in Jammu and Kashmir from the National Infrastructure Investment Fund (NIIF), marking a significant expansion of its infrastructure portfolio. Valued at an enterprise level of Rs. 4,185 crore, the assets—Quazigund Expressway and Athaang Jammu Udhampur Highway—are strategically vital corridors in northern India. Backed by fixed annuity payments from the National Highways Authority of India (NHAI), the assets are expected to generate stable returns while insulating Cube from traffic-related risks.

JK Cement has cemented its presence in Jammu & Kashmir by acquiring a controlling 60% stake in Saifco Cements for Rs 150 crore, marking a significant foray into the region's burgeoning construction sector. The acquisition establishes JK Cement as the first major manufacturer to operate in Srinagar, a move hailed as a catalyst for regional economic empowerment. Saifco Cements, with an integrated plant in Khonmoh and annual revenues of Rs 73.17 crore, now becomes a subsidiary of JK Cement.

In a significant engineering and infrastructural feat, the Steel Authority of India Ltd (SAIL) has supplied 16,000 tonnes of steel for the construction of the world’s tallest railway bridge spanning the Chenab River in Jammu & Kashmir. The Bhilai Steel Plant (BSP) alone contributed 12,000 tonnes to this project, underscoring India’s growing capabilities in industrial and structural engineering. In a landmark event, Prime Minister Narendra Modi flagged off the first train service to the Kashmir Valley while inaugurating the bridge and other vital development projects.

Prime Minister Narendra Modi announced the inauguration of critical infrastructure projects worth Rs. 46,000 crore in Jammu and Kashmir on June 6, a development poised to reshape the region's connectivity and economic landscape. Central to these projects is the Udhampur-Baramulla-Srinagar Rail Link (USBRL), which promises all-weather access and enhanced transportation efficiency. The launch of Vande Bharat trains between Shri Mata Vaishno Devi Katra and Srinagar is expected to invigorate spiritual tourism and generate substantial employment opportunities.