KCCI delegation discusses ‘precarious condition’ of JK’s economy with Suresh Prabhu

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SRINAGAR: A delegation of the Kashmir Chamber of Commerce and Industry (KCCI) led by its President Sheikh Ashiq Ahmed held an interaction with Minister for Commerce and Industry and Civil Aviation, GoI, Suresh Prabhu in his office chambers at Udyog Bhawan, New Delhi on Thursday.
Sheikh Ashiq Ahmed drew the attention of the minister towards the precarious condition of the state’s economy due to the after-effects of September 2014 Floods, disturbances of 2016 and the subsequent economic slowdown and urged for special multi-level interventions to negate the effect of many disadvantages – natural and situational – that commerce and industry of Jammu and Kashmir is faced with, a statement issued here read.
Specific interventions for promotion and marketing of handicrafts, tourism, horticulture and industrial sector were suggested and taken note of. The minister was informed about the Trade, Commerce & Industrial Conclave being organised by the KCCI and were assured appropriate support in this regard, the statement read.
The minister, while assuring the delegation of full support from his ministry facilitated a detailed interaction of the delegation with officials of the Commerce & Industry Ministry for charting out a roadmap for structured resolution of pending trade, commerce and industry related issues and formulation of policy interventions, it further read.
Among other issues relating to the industrial sector, the blockade of working capital of industrial units of Jammu & Kashmir on account of non-disbursal of GST Refund was discussed. The requisite DIPP (Department of Industrial Policy and Promotion) inspections for disbursal not being carried out being the reason, Director DIPP, Uday Singh Mina informed the delegation that the ministry was already briefed about the issue and had directed for disbursal of GST Refund without DIPP inspection for a period of six months.