JAMMU, Jul 1: President of the Bari Brahmana Industries Association (BBIA), Tarun Singla, on Wednesday met Deputy Chief Minister Surinder Choudhary and held a detailed discussion on various issues concerning the existing industrial sector in Jammu and Kashmir.
During the meeting, Singla stressed the need for a comprehensive and industry-friendly policy framework to ensure the sustainability, growth and competitiveness of existing industrial units. He said that while the government is in the process of finalising the Industrial Policy, it is essential that the policy be framed only after extensive consultations with all stakeholders so that it adequately addresses the practical needs and aspirations of the industrial sector.
The BBIA president raised several key issues affecting industries, including the continuation of the SGST reimbursement/value addition incentive for existing industrial units, provision of turnover incentives without any artificial cap, and interest subvention based on the actual interest costs incurred by industries without any upper limit. He also called for the early implementation of a progressive warehousing policy, restoration and strengthening of the freight subsidy mechanism, and the resolution of other pressing concerns impacting the viability and growth of existing industries.
Deputy Chief Minister Surinder Choudhary gave a patient hearing to the issues raised and assured the BBIA delegation that the government is committed to adopting a consultative approach while formulating industrial policies. He informed that a comprehensive meeting with all stakeholders would be convened shortly to deliberate on the concerns before taking a final decision on the Industrial Policy and other support measures for the sector.
Speaking after the meeting, Tarun Singla appreciated the Deputy Chief Minister’s positive response and assurance of stakeholder consultations. He expressed confidence that the government would frame practical and industry-friendly policies that protect existing investments, encourage industrial expansion, generate employment opportunities and contribute to the overall economic development of Jammu and Kashmir.
Singla reiterated that the Bari Brahmana Industries Association remains committed to working closely with the government to create a conducive environment for industrial growth and sustainable economic progress in the Union Territory.