BBIA hails Govt. decision to revise investment targets of 50000 Cr. for industrial investment in Jammu & Kashmir
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20-07-2021: A Meeting of Bari Brahmana Industries Association (BBIA) was held today under the Presidentship of Sh. Lalit Mahajan in presence of Sh. Tarun Singla Sr. Vice President, Sh. Ajay Langer Vice President, Sh. Viraaj Malhotra General Secretary, Sh. Rajesh Jain Secretary and Sh. Vivek Singhal Treasurer BBIA, and other Member to discuss the Government decision to revises the Investment Target of Rs. 50000 crores for Industrial Investment in Jammu & Kashmir
During the course of discussions, Sh. Lalit Mahajan President of the Association and Co-Chairman Federation of Industries Jammu and Members present in the meeting convey their Heartiest Thanks to Hon’ble Lt. Governor Sh. Manoj Sinha, Chief Secretary Sh. Arun Kumar Mehta (IAS), Principal Secretary Industries & Commerce Sh. Ranjan Parkash Thakur (IRTS) for taking a historic decision to revise the Investment Target in the Industrial Sector of J&K from 30000 Crores to 50000 Crores which will create Job Opportunities for approx. 7 Lakh Local Youths in near future.
It is pertinent to mention here that huge Investment is expected in near future on the basis of the massive response of Industrial Investment from across the Country and abroad as per the Fiscal Incentives announced by Govt. of India and as well as per the State Industrial Policy 2021-30, it is the need of the hour to establish the New Industrial Estates in time bound manner with the availability of Requisite Infrastructure enabling the prospective Investors to start their projects in a time-bound manner. Further Govt. should ease out the Rules for the setting up of Industrial Units on the Private Land which will also help in setting up the Units in Rural Areas to provide Job Opportunities to Local Youths of the Area.
It is worthwhile to mention here that MSME Sector is the major Employment Provider in our Country and it is the need of the hour to encourage the setting up of MSME Units also as Ancillary to the big Industrial Houses under the Ancillarisation Policy of the Govt. of India.
In respect of Export of Industrial Goods to other Countries, lot of potentials is there for the setting of Industry for Industrial goods to be exported which also includes Engineering Products as the Neighbouring States doing well in the Export of Industrial goods but due to Locational Disadvantages, the viability of Export to other countries is not possible from J&K UT.
We also request Hon’ble Lt. Governor Sh. Manoj Sinha and Principal Secretary Industries & Commerce to explore the possibility of setting up of Export Promotion Parks and SEZ’s in J&K UT with the Fiscal Incentives to boost the Export of Industrial Goods to other Countries from Union Territory of Jammu & Kashmir as already established in other parts of the country by State Governments.
