- RoC cites business reforms as company registrations surge in Jammu and Kashmir
- PM Internship Scheme to be rolled out across all districts of J&K
Srinagar, April 27: Jammu and Kashmir has witnessed a significant rise in the number of registered companies, with the figure increasing from around 2,500 before 2019 to nearly 7,000 to 8,000 at present, officials of the Ministry of Corporate Affairs said, attributing the growth to reforms introduced to improve the ease of doing business in the Union Territory.
Registrar of Companies for J&K and Ladakh, Haamid Bukhari, said the pace of company incorporation has accelerated in recent years as reform targets set by the Ministry of Corporate Affairs have been achieved. He said the expansion reflects growing confidence among entrepreneurs, improved regulatory facilitation and a widening corporate base in the region.
Bukhari was speaking to reporters after an interactive session organised by the Kashmir Chamber of Commerce and Industry in Srinagar with Ramesh Mishra, Regional Director, North, Ministry of Corporate Affairs. The interaction was attended by KCCI office-bearers, former presidents, executive members, chartered accountants, company secretaries and representatives of various firms and institutions.
Highlighting an important youth-oriented initiative, Bukhari announced that the Prime Minister’s Internship Scheme will be rolled out across all districts of Jammu and Kashmir. The scheme is aimed at unemployed youth in the age group of 18 to 25 years who are not in employment, education or training. It seeks to provide paid internship opportunities in coordination with the J&K Government. He said the third phase of the pilot project has already been launched at the national level.
KCCI President Javed Tenga described the visit as significant, noting that it was the first direct interaction of a Regional Director of the Ministry of Corporate Affairs with the Valley’s business community. He said such engagement is important for understanding the ground-level challenges faced by companies and professionals in the region.
During the meeting, KCCI submitted a detailed memorandum highlighting several concerns of the corporate sector. These included limited participation of J&K-based companies in the Prime Minister’s Internship Scheme, issues related to Director Identification Numbers, delays in updating company records and the absence of an effective grievance redressal mechanism. The Chamber also sought a one-time settlement scheme for the closure of inactive companies.
Responding to the issues raised, Ramesh Mishra said the concerns were substantive and reflected genuine operational difficulties. He assured the business community that the Ministry would remain engaged and efforts would be made to address the matters at appropriate levels.
Bukhari said many of the issues were system-driven but would be taken up with the concerned authorities, including the RoC office, regional offices and the Ministry. He said the objective is to make compliance smoother and provide better facilitation to stakeholders in Jammu and Kashmir and Ladakh.
The business body also urged that the RoC office in Srinagar be made fully functional on the earlier Darbar Move pattern, citing inadequate staffing and delays caused by routing several matters through Jammu. KCCI pointed out that the Kashmir Valley accounts for nearly 55 per cent of the total companies registered in the Union Territory, and therefore stronger institutional presence in Srinagar is necessary.
Concerns related to Ladakh were also raised, with the Chamber seeking a camp office or dedicated helpdesk in the region to improve accessibility for local stakeholders.
On the Prime Minister’s Internship Scheme, KCCI noted that only one local company, J&K Bank, figures among nearly 2,000 participating companies across the country, despite a large number of applicants from Jammu and Kashmir. The Chamber urged wider inclusion of local firms so that youth from the region can benefit meaningfully from the scheme.
KCCI also flagged persistent technical glitches on the MCA21 portal, including server downtime, non-availability of forms, failed SRN generation, payment problems and document upload errors. It further raised issues related to pendency in adjudication and compounding cases, recurring difficulties in DIN KYC filings, DSC validation and lack of clarity in compliance norms for small companies and startups.
The interaction concluded with an assurance of continued dialogue between the Ministry of Corporate Affairs and the business community. Stakeholders expressed hope that improved institutional support, better grievance redressal, reliable digital systems and wider youth-oriented opportunities would further strengthen Jammu and Kashmir’s growing corporate ecosystem.