JAMMU, Sept 11: Bari Brahmana Industries Association (BBIA) has claimed that abrogation of Article 370 will prove as a boon for industries and service sector in the J&K state.
In a meeting of the BBIA held here today under the leadership of Lalit Mahajan (President), the members discussed the proposed package of incentives which is in the active consideration of Union and State Government for Industry and Service sector.
They said with the Abrogation of Article 370 from Jammu & Kashmir , BBIA is quite hopeful that massive investment may take place in Industrial and Service Sector which includes the Medical, Education, Tourism and other related sectors of Jammu and Kashmir and it may open gates for the massive employment for the local youths in near future.
It was stressed upon by the members that it is also the need of the hour to provide Additional fiscal incentives also to the existing working units and Service sector which includes the Medical, Education, Tourism and other related sectors to provide support to the Unit holders who are working since long in spite of all the odds and providing direct and indirect employment to around four lakh peoples of the State as the Industrial Sector is surviving in our State on the basis of fiscal incentives given to existing industry by State/Central Govt from time to time for their survival.
While appreciating the marketing support to apple growers by Govt of India, BBIA appealed to the Governor that similar type of marketing support also be given to the existing MSME sector of the State, to encourage the interstate sale of their finished products, reimbursement of 2% of sale amount on the sale within the State and Interstate sale, compulsory procurement of goods by Public Sector Undertaking working in J&K State from the local MSME Units with the continuation of present Fiscal incentives as well as new incentives to be announced by Central/State Govts on long term basis to the existing MSME Units.