Jammu, 18-12-2023 : Representatives from a number of industry associations gathered in a major meeting at Udyog Bhawan in Jammu to discuss urgent concerns affecting the region’s economic landscape. Important participants in the meeting, which was chaired by Chief Secretary Atal Dulloo, included Divisional Commissioner Jammu Ramesh Kumar and Commissioner Secretary Industries and Commerce Vikramjit Singh.
Vice-President of the Laghu Udyog Bharati J&K Unit Ishant Gupta has become well-known for his outspoken support of regional industry concerns. He strongly emphasized the necessity of a purchasing preference policy and suggested that a significant amount of government procurement should go to regional manufacturing enterprises. Gupta brought up relevant points, such as the problem of late payments, and advocated for giving existing industries ownership rights.
During the session, Gupta also urged for the streamlining of the GST reimbursement process, ensuring that industrialists receive a full refund for the SGST component. Pranav Gupta, the Treasurer of Laghu Udyog Bharati, brought attention to the necessity of policy amendments, such as authorizing Change of Land Use (CLU) for various types of lands. He proposed extending the policy deadline beyond September 30, 2024.
Pranav Gupta further appealed for the waiver of stamp duty for land purchases in private industrial parks and stressed the importance of increasing the budget for the turnover incentive, currently pending at Rs 150 crores. Vice-President Mukul Gupta also contributed valuable insights to the discussion.
Chief Secretary Atal Dulloo reassured the delegations that their suggestions would be earnestly considered. He emphasized a strong commitment to stimulate J&K’s industry, fostering economic growth and generating job opportunities for the youth. The meeting concluded with a collective dedication to addressing the challenges faced by the local industrial sector and promoting its sustainable development, marking a significant step towards enhancing the economic landscape of the region.