FOIJ urges Govt to grant subsidy on Exports from J&K
New Delhi, 18 Oct (KNN) Federation of Industries, Jammu (FOIJ) has demanded Export subsidy for the Export of Industrial Products by Local Industrial Units to other Countries at par with Export Subsidy granted to Eligible Exporters of Handloom & Handicraft Products from Union Territory of Jammu & Kashmir.
The chairman of the federation, Lalit Mahajan highlighted the issuance of Govt. Order No- 200-IND-2021 dated 16-10-2021 by the virtue of which an Incentive of 10% of the total value granted to exporter for the export of goods of Handloom/ Handicraft to any country with maximum Reimbursement up to INR 5 crore whichever is lesser.
A number of Industrial Units manufacturing Quality Products in Union Territory of Jammu & Kashmir are not able to Export the Goods to other Countries due to Locational Disadvantages, Higher Raw Material Cost and Road Freight up to nearest port.
Hence it is the need of the hour to provide instant relief to Industrial units also by providing Export Subsidy at par with the Handicraft and Handloom Manufacturers/ Merchants keeping in mind the target of USD 400 Billion Merchandise Export for the Current Financial Year by Prime Minister Narendra Modi and ask the Industrialists to achieve & make a concerted attempt to seize the Opportunity.
The federation has contacted Lt. Governor Manoj Sinha with a request to grant the Export Subsidy to all the Industrial Units of Union Territory of Jammu & Kashmir at par with the Handloom & Handicraft Exporters which will encourage the Unit Holders to Export their Products to other Countries.