Federation of Industries Jammu Voices Expectations from CM Omar Abdullah’s Government for Industrial Growth
Jammu, 17-10-2024: Federation of Industries Jammu, in a meeting held today under the chairmanship of Sh. Lalit Mahajan in the presence of Sh. T.S. Reen, Sh. Jatinder Aul, Sh. S.C. Dutta, Sh. Ajit Lal Bawa, Sh. Raman Jolly Co-Chairmen, FOIJ, and other Executive Committee Members, welcomes Sh. Omar Abdullah as First Chief Minister of J&K Union Territory, along with Sh. Surinder Kumar Choudhary as Deputy Chief Minister & other Cabinet Ministers in First Govt. of Union Territory of Jammu & Kashmir.
Fiscal Incentives in the shape of Reimbursement of Turnover Incentive on actual Turnover without any capping, Reimbursement of SGST/ CGST/ IGST to Existing Units and Units under Substantial Expension/ change in the line of activity/Diversification, Marketing Support in the shape Purchase/Price Preference for the supply of Finished Goods to JKUT Govt.
The Members present in the meeting conveyed their heartfelt congratulations to Hon’ble Chief Minister Sh. Omar Abdullah, Sh. Surinder Kumar Choudhary, Deputy Chief Minister, and other Cabinet Ministers of J&K UT Govt. They expressed that the Industrial Fraternity of Jammu is overwhelmed and has a lot of expectations from the new government under the able leadership of Hon’ble Chief Minister Sh. Omar Abdullah to ensure the revival and strengthening of the existing ailing MSME Industrial Sector of J&K, mostly run by the Sons of the Soil.
Members present in the meeting draw the kind attention of Hon’ble Chief Minister Sh. Omar Abdullah towards the long pending issues related to the Existing Working MSME Units who are providing Jobs to Lacs of Local People of J&K which includes the grant of Fiscal Incentives in the shape of Reimbursement of Turnover Incentive on actual Turnover without any capping, Reimbursement of SGST/ CGST/ IGST to Existing Units and Units under Substantial Expension/ change in the line of activity/Diversification, Marketing Support in the shape Purchase/Price Preference for the supply of Finished Goods to JKUT Govt. Departments and it is the need of the hours to resolve the issues on a priority basis to regain the confidence of Working Existing Industrial Units that are suffering due to dilution of Fiscal Incentives and facing stiff competition from the New Units being established under the NCSS 2021 Scheme of Govt. of India.
We request Hon’ble Chief Minister Sh. Omar Abdullah for the revival of the Industrial Advisory Committee with the participation of Stakeholders to resolve the long pending issues on a priority basis & also issue necessary directions to the Industries Department to revisit the JK State Industrial Policy 2021 with the grant of Fiscal Incentives at par with NCSS 2021 Industrial Development Scheme of Govt. of India for the survival of Existing MSME Industrial Working Units with the Extension Fiscal Incentives for next 10 years.
