JAMMU, Nov 2: Chairman of the Federation of Industries Jammu (FOIJ) and President of the Bari Brahmana Industries Association (BBIA), Tarun Singla, has sought a dedicated financial support package of Rs 2,500 crore for the revival and sustenance of existing industrial units in Jammu and Kashmir.
Singla raised the concerns of the existing industrial sector during a meeting with Minister for Agriculture Production, Finance, Mining and Cooperatives, Javid Ahmad Dar, highlighting the financial and operational challenges faced by local industries.
During the meeting, he emphasised that existing industrial units have made substantial investments and continue to generate employment for local people. However, timely government assistance and appropriate policy interventions are necessary to ensure their long-term sustainability and competitiveness.
He urged the government to make a dedicated budgetary provision of Rs 2,500 crore to support existing industries, stating that such assistance would help industrial units overcome financial difficulties, protect investments and sustain employment opportunities.
Singla also called for the restructuring and strengthening of the Small Industries Development Corporation (SICOP) to enable it to provide effective support to local Micro, Small and Medium Enterprises (MSMEs), particularly in marketing assistance and access to government procurement.
He stressed the need for effective implementation of purchase preference policies for locally manufactured products, saying that adequate opportunities in government procurement would help local industrial units expand their businesses and compete in the market.
“The seriousness of the difficulties facing existing industry calls for a meaningful relief package. Supporting these units will safeguard investment, protect livelihoods and strengthen employment opportunities for the youth of Jammu and Kashmir,” Singla stated.
Appreciating the Minister’s positive and receptive approach, Singla thanked him for patiently listening to the concerns raised by the industrial sector.
He expressed hope that the discussions would translate into concrete budgetary provisions and supportive policy measures to address the challenges confronting existing industries in Jammu and Kashmir.