Excelsior Correspondent
JAMMU, July 3: Impressing upon J&K State Industrial Development Corporation (SIDCO) to further diversify its activities in conformity with the modern marketing concept, Minister of State for Industries and Commerce, Sajjad Ahmed Kichloo today called for strenuous efforts to woo major investment in the industrial sector from all over the country.
Speaking after inaugurating Singer factory here this morning, Kichloo said in addition to promotion of medium and large scale industries in the State, SICDO must switch over to newer business activities to further improve its financial health.
Singer India, the company known for sewing machines and other consumer products under Singer and Merritt brands, has restarted its operations at its Jammu factory.
Gavin Walker, CEO and President of Singer Asia and K. K. Gupta, Chairman of Singer India Limited, Director Industries, G.A.Qureshi, DIG, Shakeel Beig, and President Chamber of Commerce and Industry, Y.V.Sharma were present on the occasion.
Gupta said that the operations had to be suspended earlier due to financial restructuring. The factory could be reopened because of the support provided by the J&K Government.
Rajeev Bajaj, Managing Director said that the challenge before all of us was to keep cost under control and produce sewing machines at a cost competitive to both Chinese and Indian manufacturers. He added that once this is established, the company would follow expansion programme and consider setting up new investments for manufacturing sewing machines both for domestic and export markets.
B. M. Sharma, General-Manufacturing, incharge of operations at Jammu, said that the Singer Brand is one of the oldest brands worldwide and is synonymous with sewing.
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