J&K Industries Seek Restoration of Fiscal Incentives and Safeguard Existing Industries; Gangyal Association Meets Deputy CM Surinder Choudhary

ASSOCIATION OF INDUSTRIES SEEKS COMPREHENSIVE SUPPORT FOR SURVIVAL AND GROWTH OF LOCAL INDUSTRIES

Jammu, 06-11-2026: The delegation of the Association of Industries (Regd.) Gangyal led by its President Sh. Virendra Jain and comprised of S/Sh. Ashok Jain, Sr. Vice President, Ajay Kumar Mahajan, Vice President, Sanjay Langar, General Secretary, Jatinder Singh, Secretary, Vishal Gupta, Treasurer held a meeting with Sh. Surinder Choudhary, Hon’ble Deputy Chief Minister.
The Association of Industries, Gangyal, Jammu, has urged the Hon’ble Deputy Chief Minister, Sh. Surinder Kumar Choudhary, to incorporate comprehensive fiscal and policy measures in the proposed Industrial Policy to safeguard the interests of existing Micro and Small Industrial Units of Jammu & Kashmir.

In its representation, the Association has sought restoration of fiscal incentives, including reimbursement of net SGST/CGST, turnover incentives, freight subsidy without distance restrictions and 5% interest subsidy on working capital for five years.

The Association has also demanded extension of SGST reimbursement benefits to existing units undertaking expansion and diversification, restoration of purchase preference for local manufacturers in government procurement, and marketing support through SICOP to protect local industries from the adverse impact of GeM-based procurement.

Other major demands include extension of Power Amnesty to industrial consumers as a one-time relief measure and conversion of leasehold industrial land into freehold rights to facilitate expansion, investment and access to institutional finance.

President of the Association, Virendra Jain, emphasized that local industries are facing serious challenges due to rising costs, geographical disadvantages and inadequate policy support. He cautioned that the withdrawal or discontinuation of incentives could threaten the survival of existing industrial units, resulting in closures and unemployment.

The Association has appealed to the Government to consider its suggestions sympathetically while finalizing the Industrial Policy and has also sought an opportunity for a meeting with the Deputy Chief Minister before the policy is finalized.

The Association expressed confidence that timely intervention and appropriate policy support would strengthen the industrial ecosystem, safeguard existing employment and accelerate economic growth in Jammu & Kashmir.

Hon’ble Dy Chief Minister paid a patient hearing and assured the delegation that industrial Association shall be taken into confidence before finalization of the Industrial Policy