Jammu MSMEs submit memorandum to the Parliamentary Standing Committee on Industry

Jammu, May 23 (KNN) The MSME entrepreneurs from Jammu submitted a memorandum to the Parliamentary Standing Committee in Industry highlighting the need to keep in view the economic and geographical drawbacks of the region before forming policies for the development of J&K.

A Delegation of Federation of Industries, Jammu led by Lalit Mahajan, Chairman Federation of Industries, Jammu presented a memorandum to the K C Tyagi, Chairman, Parliamentary Standing Committee on Industry in the presence of Shamsher Singh Manhas and other MPs of both the Houses on the behalf of industrial fraternity today in Srinagar.

Mahajan said, “The development of J&K has to be designed keeping in view the State’s unique Economic Drawbacks arising out of Locational Disadvantage, Militancy Effected, Surrounded by hostile neighbours like Pakistan & China, Remoteness & Poor Connectivity, Hilly Terrain, Poor Infrastructure and shallow Markets coupled with Law & Order situation since 1990 which have resulted in low Economic activity, low Employment and low Income generation.”

The MSMEs sought immediate priority for restoring the confidence of the entrepreneurs.

During the course of discussions, Mahajan highlighted various issues related to the industrial sector including extension of incentives on the pattern of North Eastern Package for a period of ten years like -Restoration of Refund of 100% Central Excise Duty paid; 100% Income Tax Exemption for Industrial Units; Extension of DIPP Package of Incentive which is going to be expire on 14-06-2017.

The entrepreneurs also demanded exemption from the preview of  Goods & Services Tax; Setting up of Mother Industry; Implementation of Prime Minister’s Task Force Recommendations on MSME; Compulsory Purchase by Central Government Organization from MSME & Large Scale Units of J&K; Inclusion of Industrial Goods manufactured in our State in the List of items for Cross- LOC Trade; Development of New Infrastructure; and Creation of Infrastructure for Job Linked Skill Programme.

Tyagi assured to resolve the issues related to the industrial sector as early as possible for speedy industrial growth and employment generation for local unemployed youths. (KNN Bureau)