Excelsior Correspondent
SRINAGAR, Apr 27: The number of registered companies in Jammu and Kashmir has nearly tripled from around 2,500 before 2019 to between 7,000 and 8,000 at present, officials of the Ministry of Corporate Affairs said today, attributing the surge to reforms aimed at improving the ease of doing business in the Union Territory.
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Haamid Bukhari, Registrar of Companies (RoC) for J&K and Ladakh, said the pace of company incorporation has accelerated significantly as reform targets set by the ministry have been achieved.
“The expansion reflects growing confidence and a widening corporate base in the region,” he said.
Bukhari was speaking to reporters after an interactive session organised by the Kashmir Chamber of Commerce and Industry (KCCI) with Ramesh Mishra, Regional Director (North), Ministry of Corporate Affairs, in Srinagar.
Highlighting a key initiative, Bukhari announced that the Prime Minister’s Internship Scheme will be rolled out across all districts of J&K.
The scheme targets unemployed youth aged 18-25 who are not in employment, education or training, and aims to provide paid internship opportunities in coordination with the J&K Government.
“The third phase of the pilot project has already been launched at the national level,” he said.
KCCI President Javed Tenga termed the visit significant, noting that it marked the first direct interaction of a Regional Director of the ministry with the Valley’s business community.
The meeting was attended by former presidents, executive members, chartered accountants, company secretaries and representatives of various firms and institutions.
During the interaction, KCCI presented a detailed memorandum highlighting key concerns faced by companies in the region.
These included limited participation of J&K-based firms in the internship scheme, issues related to Director Identification Numbers (DIN), delays in updating company records, and the absence of an effective grievance redressal mechanism.
The Chamber also sought a one-time settlement scheme for closure of inactive companies.
Responding to the concerns, Mishra said the issues were substantive and reflected genuine operational challenges. He assured continued engagement and said efforts would be made to address them.
Bukhari added that many concerns were system-driven but would be taken up at appropriate levels, including the RoC, regional offices and the ministry.
The business body urged that the RoC office in Srinagar be made fully functional on the earlier Darbar Move pattern, citing inadequate staffing and delays caused by routing matters through Jammu.
It pointed out that the Kashmir Valley accounts for nearly 55 per cent of the total companies registered in the Union Territory.
Concerns were also raised about stakeholders in Ladakh, with KCCI calling for a camp office or dedicated helpdesk in the region to improve accessibility.
On the internship scheme, the Chamber noted that only one local company-J&K Bank-features among nearly 2,000 participating firms nationwide, despite a large number of applicants from J&K.
KCCI further flagged persistent technical glitches on the MCA21 portal, including server downtime, non-availability of forms, failed SRN generation, payment issues and document upload errors.
Additional issues raised included pendency in adjudication and compounding cases, recurring problems with DIN KYC filings, DSC validation, and lack of clarity in compliance norms for small companies and startups.
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