For decades, the developmental discourse of Jammu and Kashmir has remained trapped in a binary narrative centred on Srinagar and Jammu, overlooking the vast mountainous regions of the Chenab Valley, Pir Panjal, and peripheral hill districts. Despite contributing significantly through hydropower, agriculture, tourism potential, and natural resources, these regions continue to face chronic deficits in healthcare, education, infrastructure, and economic investment. This article examines the structural neglect of Jammu and Kashmir's peripheral highlands, explores the paradox of resource extraction without proportional local development, and argues for targeted policy interventions to ensure equitable growth, regional empowerment, and inclusive governance.