Sanction accorded to incorporation of JKTPO as a Joint Venture Company

SRINAGAR: To promote handicrafts and handloom products within the country and globally, the Cabinet chaired by Chief Minister, Mehbooba Mufti on Tuesdayaccorded sanction to the incorporation of Jammu and Kashmir Trade Promotion Organization (JKTPO) under Section 8 of the Companies Act, 2013, as per the Law Department vetted Article of Association (AoA) and Memorandum of Association (MoA), having initial Share Capital of Rs. 5 Crore, as a Joint Venture Company between the Government of Jammu and Kashmir with 51% equity share, India Trade Promotion Organization (ITPO) with 44% equity share and Export Promotion Council for Handicrafts (EPCH) with 5% equity share.

The Joint Venture Company will promote, organise, manage and participate in handicrafts/handlooms/industrial trade, other fairs and exhibitions in India and abroad and take all measures for promoting Industry especially in the state of Jammu and Kashmir and enhance its global competitiveness.