MSMEs in J&K demands separate industrial policy for them

Srinagar, Sep 2 (KNN) In view of extraordinary circumstances faced by the Micro, Small and Medium Enterprises (MSMEs) in Jammu and Kashmir, various MSME bodies have demanded a separate industrial policy for the union territory.

Representatives of various trade and industrial organisations participated in a webinar session with Union Finance Minister Nirmala Sitharaman on Tuesday during which the demand was raised.

The session was organised by Satish Mahaldar, Chairman of Jammu and Kashmir Peace Forum.

''The centre has to take prompt steps to save the dying industry and the growing unemployment in the union territory,'' representatives told the Finance Minister.

 ''The centre was keen to listen and understand the ground situation as that helped in formulating policies,'' said Mahaldar quoting the Finance Minister.

“We are interacting with all the stakeholders in the industry and we have benefited from this. We want to keep our ears close to the ground and based on the inputs from various stakeholders, policy changes are made,” Sitharaman said.

She also apprised the participants of meeting new J&K Lt Governor Manoj Sinha who also spoke about greater support and more resources for the UT.

While commencing the interaction, Mahaldar said, “the primary objective of the meeting was to primarily understand how we can achieve sustainable industrial development in all regions for increasing the rate of growth, value of output, employment, income and overall economic development of the UT.''

''The trend in the development of J&K is not encouraging; it has been lagging behind most of the states with regard to the growth of the net state domestic product at current prices. J&K UT is one of those regions in the country where both the demographic situation and level of socio-economic development remains far from satisfactory,” he added.

''It is important to discuss how to revive potential viable sick industrial units so as to put  optimum use of  the capital and other resources which are already employed in such enterprises. It is important to know from the industry experts how we can strive towards balanced economic and social development in all regions of the UT by promoting industrialization,” said Mahaldar.

Sheikh Ashiq, president of Kashmir chamber of commerce and industry; Javaid Ahmad Bhat, president of Sopore industrial association; Lalit Mahajan, Bari Brahmana Industrial Association president; and Wajahat Durrani, president J&K PSU employees were the representatives who participated in the webinar.

Lalit Mahajan, Bari Brahmana Industrial Association president said, “J&K industry, especially the MSMEs are reeling under economic distress for the past one year. There is an urgent need for incentives. If MSMEs are helped, unemployment to some extent can be arrested.”

''J&K borders are with Pakistan and China where no trade is possible, hence the need to help the industry by giving special attention,'' he added.

Taking up the case of the sick PSUs, Wajahat Durrani, president J&K PSUs employees  said, “The PSUs in the state are in a bad condition, but they have a huge potential if the right attention and help is given.” He cited the case of the J&KSRTC, which currently had only 300 buses to cater to a population of 80 lakh people. He said that if right incentives are given, J&KSRTC can be turned around into a frontier organization.

''Similarly, other ventures in horticulture, etc can help in generating employment and strengthening the state economy,'' he stated.

Mr Ashiq Shiekh, President of the Kashmir chapter of Chamber of Commerce and Industry said they had been raising the issues concerning the industry with the government but nothing has been happening.

“We met the Finance Minister on March 17 this year but nothing much has happened,” he said.

He hoped that since unlocks were happening now things will improve.

“Incentives were urgently needed for the revival of the industry in J&K. The past year has seen a lot of suffering, unemployment is growing, artisans don’t have much work, industries and MSMEs are in bad shape. A pile up of inventories has been happening,” he avowed.

Top industry bodies of Kashmir have also expressed their willingness to help in the economic development of the distressed Kashmiri Pandit Migrant community.