FOIJ, BBIA, JCCI, CII welcome revocation of Art 370, expect massive investment

Excelsior Correspondent
JAMMU, Aug 5: Federation of Industries Jammu (FOIJ), Bari Brahmana Industries Association (BBIA), Jammu Chamber of Commerce and Industry (JCCI and Confederation of Indian Industry (CII), have welcomed the revocation of Article 370 and 35-A in the State.
While reacting to the decision n of the Modi Govt today, they described it as historic decision and maintained that in coming years massive investment in the Industrial sector will be witnessed in the State.
FOIJ chairman, Rattan Dogra said it is good for the Industrial sector in the State. “ We hope good investment in this sector from outside the State with the revocation of Article 370 because now Industrialists from outside will also be able to purchase land here without any fear. Earlier, they were getting land on lease basis and also involving some local for raising the units,” he said.
Dogra said big multi-national companies are expected to invest in the State whether it is Jammu region or Kashmir. There is no heavy industry in the State. This move will open gates for them also. And ultimately it will generate job opportunities for the local people here, Dogra added.
Lalit Mahajan, president BBIA while describing this decision as most surprising and bold initiative by the Union Govt said that Association is expecting good investment from outside the State. He said unit holders from outside the State, are given land on the lease of 40 years by J&K Govt. They were hesitant to have big investments here in the State. Now, they will be able to purchase land and raise infrastructure. Their fear has been abolished with the revocation of this Article, he added.
Mahajan further said that due to this obstacle, the State was losing massive investment. The big MNCs will like to invest in the State now without any fear. The youth of the State would get good job opportunities. The BBIA has welcomed this historic decision of BJP Government, Mahajan said.
The Jammu Chamber of Commerce and Industry (JCCI), president Rakesh Gupta also welcomed the decision of the Union Government and said that Chamber expects massive investment in Industry and hotel sectors in coming years in the State. He said after this decision of the Government, there is need to work together and ensure peace and calm in the State. The Chamber appeals to the people to stay calm and also urges Government to take appropriate measures for the welfare of the citizens of the State and especially the trade and industry sector.
Rajesh Sharma, Chairman CII J&K State Council while reacting to the Modi Govt decision said it would be premature to say anything about good investment in the State, but maintained that the over all impact of the decision will be on Jammu region. There will be a great pressure on the land in Jammu-Kathua and samba which would shrink shortly and investment will be expected only if the Government offers good package. The present package available to the industry in the State is merely eye wash. Various Industrial bodies are already struggling for it. Moreover, J&K is the extreme corner. There is no heavy industry and investment can only be attracted if the package is good, the CII Chairman maintained.