Com Secretary I&C interacts with
industry stakeholders, discusses industrial sector rejuvenation measures
SRINAGAR, MAY 7: In
a significant move to revitalize the industrial landscape of Jammu and Kashmir,
the Industries and Commerce Department convened a high level interactive
session on Tuesday with representatives from prominent industrial associations
under the chairmanship of Commissioner Secretary, Industries & Commerce (I&C),
Vikramjeet Singh.
The session
witnessed active engagement with representatives from prominent industrial
associations, underscoring the government's commitment to addressing the
pressing challenges faced by industrial units in the region.
Prominent
industrial bodies, including The Federation of Industries Kashmir (FCIK), The
Kashmir Chamber of Commerce and Industry (KCCI), the PHD Chamber of Commerce
and Industry (PHDCCI), The Federation of Indian Chambers of Commerce &
Industry (FICCI) and The Confederation of Indian Industry (CII), seized the
opportunity to articulate their concerns and submit memoranda outlining
critical issues.
These issues,
ranging from the situation of sick units to the need for marketing support and
financial assistance, were carefully listened to. Valuable suggestions were
also put forth to enhance the industrial ecosystem in Jammu and Kashmir by the
representatives of Industrial associations.
I&C
Commissioner Secretary emphasized several key initiatives undertaken by the
administration to support industrial growth and address the challenges faced by
industrial units in the region. He highlighted The Raising and Accelerating
MSME Productivity (RAMP) program, which is a World Bank supported initiative by
the Government of India to help micro, small, and medium enterprises (MSMEs)
improve their productivity and competitiveness.
The Commissioner
Secretary affirmed that the government is actively considering the importance
of providing marketing assistance to industrial units, a matter currently under
discussion with senior officials. This forthcoming support aims to empower
businesses in promoting their products and services, thereby expanding their
market reach and bolstering revenue streams, he added.
He underscored the
necessity of forging partnerships with additional financial institutions, such
as Non-Banking Financial Companies (NBFCs), to diversify the financial support
available to industrial units. This strategic collaboration with NBFCs will
offer industrial units access to a spectrum of financing solutions, including
loans, lines of credit, and bespoke financial products tailored to their unique
requirements.
The Commissioner
Secretary reiterated that the ongoing dialogue between the industrial
stakeholders and the government aims to bridge communication gaps and ensure
effective implementation of government schemes thereby contributing towards
overall economic development of Jammu and Kashmir.
Among others the
meeting was attended by Director JKTPO, Khalid Jahangir Managing; Director,
Handicrafts & Handloom Kashmir, Mehmood Shah; Managing Director
SICOP/SIDCO, Inderjeet; Director Industries & Commerce Jammu, Arun Manhas;
Director Industries & Commerce Kashmir, Khalid Majeed; Managing Director
Handloom and Handicraft Corporation, Atul Sharma; Joint Director Industries
& Commerce Kashmir, Zahoor Ahmad Magray; Joint Director Handicraft &
Handloom Department Kashmir and Deputy Secretary, I&C and other officials
of I&C Department.