Virendra Jain Urges Comprehensive Relief Package to Revive Struggling J&K Industrial Sector

Jammu, 05-09-2025:The Association of Industries (Regd.) Gangyal,  today, expressed grave concern over the severe distress faced by the micro/small industrial sector due to the prevailing flood situation and financial crunch. The recent natural calamities have wreaked havoc not only in Jammu & Kashmir but also in the neighboring states of Punjab, Haryana, and Himachal Pradesh, causing losses to the tune of crores of rupees to the general public and, in turn, significantly impacting the industrial sector of Jammu & Kashmir.

In a meeting chaired by its president, Sh. Virendra Jain, along with his team of office bearers, the AOI highlighted the burning issues plaguing the sector and urged the government to provide immediate financial relief to mitigate the crisis.

The micro/small industrial sector in J&K is grappling with unprecedented challenges, including massive production losses due to adverse weather conditions, a sharp decline in demand for finished goods, and mounting bank interest on working capital and term loans due to the severe shortage of funds. These challenges threaten the very survival of the sector, necessitating urgent intervention from the Government.

Sh. Virendra Jain has appealed to the Govt to formulate a new package of incentives and financial assistance for the existing industrial units to ensure their revival and survival. Specifically, the AOI has requested the Govt. to alleviate the distress of the industrial sector by enhancing a 20% in working capital limits for one year under existing security with banks to help entrepreneurs navigate the financial crunch, waiver of interest on term loans and working capital loans until March, 2026 or until the situation improves, restructuring of term loans by reducing interest rates and adjusting repayment scheduling, waiver of minimum demand charges on electricity bill for at least one month for the Micro/Small Industrial sector and above all the Govt. should expedite the release of much pending claims to the industrial sector which will give a sigh of relief to the industries grappling with financial stress. AOI also appeals to the Govt to issue a Power Amnesty for the industrial sector of J&K.

Sh. Virendra Jain has personally appealed to Hon’ble Lt. Governor Sh. Manoj Sinha, Hon’ble Chief Minister, Jenab Omar Abdulla, Hon’ble Deputy Chief Minister Sh. Surinder Kumar Chowdhary, Chief Secretary. Atal Duloo to urgently consider these demands and extend financial relief to prevent the closure of the industrial unit in J&K.