JAMMU: In the meeting of the Office Bearers, Arun Gupta, President Chamber of Commerce and Industry Jammu welcomed the convening of the Apex Committee meeting on Jammu & Kashmir’s Industrial Development Scheme, chaired by Hon’ble Union Home Minister Shri Amit Shah in New Delhi yesterday.
Arun Gupta, expressed hope that the decision taken in the high level meeting attended by Hon’ble Union Minister for Industry & Commerce Piyush Goyal, Hon’ble Lieutenant Governor Manoj Sinha, Chief Secretary Atal Dulloo, Commissioner Secretary Industries & Commerce, Vikramjeet Singh and senior officers of MHA, DPIIT and J&K UT Administration would strengthen industrial growth in the Union Territory.
Arun Gupta said the Chamber has been consistently highlighting that the New Central Sector Scheme (NCSS) with an outlay of Rs 28,400 crore, notified on April 1, 2021, has already been exhausted with the registration of 971 industrial units. Given the overwhelming response from entrepreneurs across Jammu and Kashmir, it is imperative to enhance the package to Rs 75,000 crore and to adjust more units from the savings accrued through reduced GST and plant & machinery costs.
Arun Gupta stated that the UT Administration’s proposal to increase the package and to consider registration of around 150 more units, along with clearing 570 applications that are complete in all respects, is a much-needed step. We fully endorse the efforts of Hon’ble LG Shri Manoj Sinha & the UT Government in pursuing this matter with the Centre.
Arun Gupta further emphasized that early approval will not only provide much-needed incentives to existing and new units till 2037, but will also generate large-scale employment opportunities. As per the original policy, the scheme was envisioned to give an industrial boost of Rs 28,400 crore and create around three lakh jobs in Jammu and Kashmir.
Arun Gupta further added that Industrialists as well as the Industrial houses who have applied for registration under the NCSS had pinned high hopes on the apex committee meeting. A positive decision on enhancement of incentives and adjustment of all pending units will send a strong signal to investors and give fresh momentum to industrialization in the region.
Arun Gupta further appealed to the Union government to take care of the existing units as their survival is very difficult without the support of the incentives given by the Union Government.
Arun Gupta said that the Chamber of Commerce and Industry Jammu reiterates its full support to the UT Administration and the Government of India in making J&K a preferred investment destination and urges the Apex Committee to take industry-friendly decisions in the interest of employment generation and economic growth.
The other officer bearers present in the meeting include Anil Gupta, Senior Vice President CCI, Rajeev Gupta, Jr. Vice President CCI, Manish Gupta, Secretary General CCI, Rajesh Gupta, Secretary CCI and Rajesh Gupta Treasurer.
