Jammu, Jul 21 (KNN) The Bari Brahmana Industries Association (BBIA) has urged the government to establish a new Industrial Estates in Jammu and Kashmir (J&K).

A meeting of BBIA was held on Tuesday under the president ship of Lalit Mahajan in presence of Tarun Singla – senior vice president, Ajay Langer -vice president, Viraaj Malhotra -general secretary, Rajesh Jain – secretary and Vivek Singhla Treasurer BBIA and other members to discuss the government decision to revise investment target of Rs 50,000 crores for industrial investment in J&K.

During discussion, Lalit Mahajan – president of the Association and Co-Chairman Federation of Industries Jammu and other members extended gratitude to Lt Governor, Chief Secretary AK Mehta and Principal Secretary Industries and Commerce RP Thakur for taking a decision to revise the investment target in the Industrial Sector of J&K from 30, 000 crores to Rs 50,000 crores which will create job opportunities for nearly 7 lakh local youths in near future.

''The huge investment is expected in near future on the basis of massive response of Industrial investment from across the country and abroad as per the fiscal incentives announced by government 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 time bound manner,'' an official statement quoted them as saying.

The Govt should ease out the rules for the setting up of industrial units on private land which will also help in setting up the units in rural areas to provide the job opportunities to local youths of the area, it added.

Mahajan said MSME sector is the major employment provider 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 Government of India.

''In respect of export of industrial goods to other countries, lot of potential is there for the setting of industry for industrial goods to be exported which also includes Engineering Products as 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,'' the statement added.

They requested the Lt Governor 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 here.