Jammu – November 7: Seeking vital fiscal safeguards and policy interventions to protect existing industrial infrastructure in Jammu and Kashmir, a delegation of the Association of Industries (AOI), Gangyal, met with Deputy Chief Minister Surinder Choudhary (Minister In-charge for Industries & Commerce) in Jammu to highlight pressing operational bottlenecks faced by local manufacturers.
The industrial delegation, led by AOI President Virendra Jain, comprised Senior Vice President Ashok Jain, Vice President Ajay Kumar Mahajan, General Secretary Sanjay Langar, Secretary Jatinder Singh, and Treasurer Vishal Gupta. The trade body submitted a comprehensive representation urging the government to embed decisive fiscal incentives within the upcoming Jammu & Kashmir Industrial Policy to ensure the survival and viability of existing Micro, Small, and Medium Enterprises (MSMEs).
Chief among the charter of demands is the immediate restoration of core fiscal incentives, including the reimbursement of net SGST and CGST, turnover-linked incentives, unrestricted freight subsidies free of arbitrary distance limitations, and a 5 percent interest subsidy on working capital loans for an operational period of five years.
The Association further urged the administration to extend SGST reimbursement benefits to existing industrial units embarking on capacity expansion, modernization, and product diversification. Highlighting marketing hurdles under the centralized Government e-Marketplace (GeM) procurement system, the delegation demanded the reintroduction of purchase preferences for local manufacturers in departmental tenders and marketing channelization through the Small Industries Development Corporation (SICOP).
Addressing liquidity strains, the delegation appealed for a one-time power amnesty scheme for industrial consumers and advocated for the conversion of leasehold industrial plots into freehold ownership rights, emphasizing that freehold status would unlock credit lines and facilitate long-term private capital investments.
AOI President Virendra Jain cautioned that local industries are grappling with unprecedented inflationary pressures, steep logistics overheads, and geopolitical isolation. He warned that discontinuing legacy fiscal cushions would force operational shutdowns and trigger widespread job losses across the Union Territory. Deputy Chief Minister Surinder Choudhary assured the delegation that the government would sympathetically review their proposals before finalizing the new industrial framework.
Published by True Roots Media