JAMMU, Jul 3: The Federation of Industries, Jammu (FOIJ) has urged the Jammu and Kashmir Government to introduce immediate policy measures to revive the industrial sector, safeguard existing units and restore investor confidence in the region.
The demand was raised during a meeting of the Federation chaired by Virendra Jain. The meeting was attended by Co-Chairmen Tarun Singla, Jatinder Aul, Gagan Jain and Ajit Bawa, Secretary General Sachin Kapoor, and Convenor Sanjay Langar, who discussed the challenges confronting industries in Jammu and the need for urgent government intervention.
The Federation welcomed the newly elected office bearers of the Bari Brahmana Industries Association (BBIA) led by Tarun Singla. It also welcomed Tarun Singla as Co-Chairman of FOIJ and Sachin Kapoor as Secretary General, expressing confidence that their leadership would further strengthen the organisation’s efforts towards industrial growth.
During the meeting, members expressed concern over the prolonged slowdown affecting industrial activity in Jammu and unanimously resolved to intensify their engagement with the government for the formulation and implementation of a comprehensive industry-friendly policy aimed at protecting existing industrial units while encouraging fresh investments.
The Federation appealed to Lieutenant Governor Manoj Sinha and Chief Minister Omar Abdullah to take immediate steps for the revival of the industrial sector.
Among its key demands, FOIJ sought the extension of the Turnover Incentive for industrial units, continuation of SGST reimbursement under S.O. 63 for units undertaking substantial expansion, modernisation, diversification or addition of manufacturing lines, immediate implementation of the Capital Interest Subvention Scheme from the State Budget, and enhanced marketing support for Micro and Small Enterprises (MSEs) to improve their competitiveness and sustainability.
The Federation also urged the government to permit the conversion of leasehold industrial land into freehold without imposing additional conversion charges. It argued that entrepreneurs had already paid the land cost through premium charges and that the prevailing market value of land outside industrial estates at the time of allotment was broadly comparable to the premium collected. Imposing fresh conversion charges, it said, would place an unnecessary financial burden on industrial units.
FOIJ appealed to the Lieutenant Governor and the Chief Minister to personally intervene and ensure the early implementation of these measures, stating that timely policy support would help protect existing industries, generate employment, attract fresh investment and accelerate the economic development of Jammu and Kashmir.