New Delhi, Sep 30 (IANS): In a bid to create avenues for economic growth in Jammu and Kashmir and Ladakh regions, prominent civil society members have come together for the 'KashmirOnomics' initiative, which is a think tank to help chart an economic roadmap for the development of the newly formed Union Territories.

The initiative aims to bring together economists and representatives from the industries, social groups as well as the government to deliberate various elements and strategies for the durable economic growth of the entire region.

The exercise will eventually culminate in the formulation of a set of recommendations which will outline the key focus areas and action points to kick-start the region's economic development. The recommendations will be vetted by groups of experts at various meetings and conferences.

Siddharth Zarabi, an Indian journalist, said, "The Centre and the UT governments are focused on the entire gamut of issues in the region and are committed to ensure clean governance and rapid economic development in the region. This requires multiple initiatives that provide an impetus to sustainable and scalable growth of the region.

"The talented and hard-working people of the two Union Territories need greater opportunities that can only come through an economic roadmap based on stability, safety and security."

Co-founder Pranshu Sikka said, "It is essential to find a way for the new Union Territories to flourish. We believe that the economy of Jammu and Kashmir and Ladakh has multiple monetisation avenues, each of which can be harnessed to give much-needed impetus to economic growth.

"Like any other opportunity, this one comes with its own set of challenges and we are confident that they will be addressed by the government with the active participation and involvement of all groups of society."

The think tank is also inviting inputs -- in the form of insights, ideas and analysis -- from various stakeholders to contribute to the initiative.