Excelsior Correspondent
SRINAGAR, Sept 7: The Federation of Chambers of Industries Kashmir (FCIK) and the Federation of Industries Jammu (FOIJ) today jointly called for the revitalization of existing industrial enterprises in Jammu and Kashmir to address the pressing issue of rising unemployment in the region.
In a joint statement, the federations stated that during a meeting with the Commissioner-Secretary of the Industries and Commerce Department, Vikramjit Singh, the delegations praised the Industrial Development Scheme worth Rs 28,400 crores for Jammu and Kashmir, designed to create jobs and develop skills. However, they noted that generating new employment through this scheme would take time, urging the Government to simultaneously focus on existing enterprises.
The statement said that there is substantial infrastructure worth thousands of crores in the form of buildings and machinery across Jammu and Kashmir, both in organised and unorganised sectors, which is underutilised due to various challenges faced by existing businesses.
“While assuring to absorb up to Rs 500,000 employees in rejuvenated existing industrial units in the Union Territory, the delegation requested support and recommendations for the protection, expansion, diversification, modernization, revival, and rehabilitation of these units to unlock their full potential,” the statement said.
It further stated that the delegation raised concerns about the impact of changes in Government policies, such as the withdrawal of VAT exemption and entry taxes, as well as the withdrawal of price and purchase preferences. “There is a need for mechanisms to protect and incentivize local industrial units, especially when competing with counterparts from industrially advanced states on the Government e-Marketplace (GeM),” it reads.
The statement said that the delegation also called for the allocation of funds for the disbursement of the committed 3% “turnover incentive” under the policy. Any reduction in these funds could erode confidence in Government policies and commitments.
The heads and members of the two organisations who participated in the meeting included Shahid Kamili, Tejwant Singh Reen, Shakeel Qalander, Lalit Mahajan, Mohammad Ashraf Mir, Meraj Ahmad Qureshi, and Zahoor Ahmad Bhat. This was the first meeting after the two organisations signed an MOU for mutual cooperation and coordination.
Follow our WhatsApp channel