Excelsior Correspondent
JAMMU, Dec 29: A delegation of Federation of Industries, Jammu (FOIJ) led by its Chairman, Virendra Jain alongwith its Co-Chairmen SC Dutta, Lalit Mahajan, secretary general Viraaj Malhotra, Convenor Sanjay Langar called on the Lieutenant Governor of Jammu & Kashmir, Manoj Sinha and highlighted several critical issues affecting the industrial sector of the Jammu region.
During the meeting Jain apprised the Lt Governor of the prevailing challenges faced by existing industry due to the dilution and discontinuation of committed/announced incentives such as reimbursement of SGST and turnover incentive. He emphasized that these changes have adversely impacted industrial growth in Jammu & Kashmir. The delegation also urged for the revival of procurement of materials by Govt Departments from local industrial units through SICOP.
FOIJ further requested the Lt Governor to ensure extension of turnover incentive up to March 31, 2031. The Federation stressed the need of issuance for announcing a new, comprehensive incentive package for both prospective and existing industrial units including those undertaking substantial expansion/ change of line of activity/additional line of activity while ensuring parity and non-discrimination between new and existing industries in terms of operative and fiscal incentives.
The FOIJ also requested conversion of lease hold industrial land into free hold rights to provide long-term security to industrial units.
The visiting members expressed their serious concern regarding industrial units that had registered under the NCSS before the due date of 30.09.2024 but denied incentives by the DPIIT on the grounds of registration after 10.07.2024. This decision, the Federation stated has adversely affected hundreds of industrial units, leaving them in a state of uncertainty.
The LG listened patiently to the delegation and assured that all possible positive measures would be taken for the revival and survival of the existing industrial sector in the Union Territory.
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