FOIJ delegation interacts with Vikramjit Singh, Commissioner/Secretary, industries & Commerce Department
Jammu, 04-12-2024: A delegation of the Federation of Industries Jammu under the Chairmanship of Sh. Lalit Mahajan along with Sh. Virendra Jain, Sh. S.C. Dutta, Sh. Ajit Bawa, Sh. Raman Jolly Co-Chairman along with other Executive Committee Members of FOIJ met with Sh. Vikramjit Singh, (IPS), Commissioner/ Secretary, Industries & Commerce Department, at Jammu to highlight the urgent issues related to Existing Working Industrial Units of Jammu and Kashmir & submitted a detailed Representation regarding the problems being faced by Local working Industrial Units.
During the course of discussion, Sh. Lalit Mahajan draws the kind attention of Sh. Vikramjit Singh, (IPS), Commissioner/ Secretary, Industries & Commerce Department towards plight of local working Industrial Units of J&K suffering very badly due to Dilution of Fiscal Incentives after the Abrogation of Article 370 resulting Great Resentment amongst the working Industrial units providing Employment to Lakh of local people of J&K.
The Existing Micro, Small and Medium working Industries in Jammu and Kashmir having an approximate Investment of Rs. 30000 Crores prior to 31-3-2021 mostly owned by “Sons of the Soil”, the Current financial support in the shape of Fiscal Incentives provided under the Current Policy Framework is Grossly inadequate which is equal to Rs. 450 Crores per year as SGST refund and a paltry Rs. 20-25 Crores per annum as Turnover Incentives. In stark contrast, New Industries under the New Central Industrial Package got the whooping allocation of Approx Rs. 3266 Crores per annum resulting stiff competition from New Industrial Units setup under NCSS 2021 due to which great resentment amongst the working Micro, Small and Medium Enterprises working in spite of all the Odds since long i.e. facing Militancy since 1990, Shallow Market Avenues due to Land Lock State, Limited access to Domestic as well as International market due to additional transportation cost of Raw materials and dispatch of Finished Goods.
Sh. Lalit Mahajan requested the Commissioner/ Secretary, Industries & Commerce Department for providing adequate funds to Existing Working Industrial Units at par with Central Package of Incentive for new units which includes the Enhancement of Budgetary Allocation for the Reimbursement of Turnover Incentives to Existing Industries as per Govt. order No- 127- Ind. of 2021 dated 21-05-2021, GST Linked Incentives for Existing Units and Units under Substantial Expension after 01-04-2021, State Budgetary Allocation for the Reimbursement of Working Capital Interest Subvention, Marketing Support in the shape of Price/ Purchase Preference & also Request for the Conversion of Lease Holder Rights in to Free Hold Rights for Existing Industrial Units working in Union Territory of Jammu & Kashmir, amendments in
SO-70,71,72 dated 24th of January 2024 – Budgetary Support to Manufacturing Industrial Units for the Reimbursement of CGST / SGST, One Time Amnesty for the Settlement of Reimbursement of Time Barred SGST/CGST pending Claims since 08-07-2017, Removal of Negative List for Edible Oil & Roasted Groundnuts, Allocation of funds to J&KSIDCO/ SICOP for the up gradation of Existing Industrial Estate, Relocation of Land with Allotments and Immediate Possession of Units who applied Land in Meen Charakan and paid the full amount of Premium & other issues for immediate redressal for the survival of the Exiting working Industrial Units of J&K.
Sh. Vikramjit Singh, (IPS), Commissioner/ Secretary, Industries & Commerce Department listened to the current scenario of the Existing Working Industrial Units of J&K patiently & assured that his Govt. will provide all sought of Hand Holding Support for the Revival of the Existing Working Industrial Units of State.
