Advocates for strategic reforms, infrastructure dev, sector-specific support
SRINAGAR; A high-level delegation from the PHD Chamber of Commerce and Industry (PHDCCI), Kashmir Chapter, led by its Chairman, A P Vicky Shaw along with co-Chair Himayu Wani and General Convener Bilal Kawoosa and Deputy Director Kashmir Iqbal Fayaz Jan, held a constructive and interactive meeting today with Dola Sen, Chairperson of the Department-related Parliamentary Standing Committee on Commerce.
The meeting, held during the Committee’s visit to the Union Territory, was attended by other Members of Parliament from the Committee that Include Renuka Chowdhury (INC), Awasthi Ramesh (BJP), Yusuf Pathan (AITC), Dr Shiv Pal Singh Patel (SP), Sadanand Mhalu Shet Tanavade (BJP), Santosh Panday (BJP), Prasun Banerjee (AITC), Dr. Prashant Yadaorao Padole (INC). The PHDCCI delegation presented a comprehensive set of suggestions aimed at boosting commerce, trade, and investment in Jammu & Kashmir, the Chamber said in a statement issued here.
The delegation emphasized the critical need to improve J&K’s ranking in the Ease of Doing Business index and proposed several confidence-building measures, particularly for the tourism sector. A key suggestion included seeking subtle support from banking institutions to relax lending norms for sectors affected by recent disruptions.
Ms. Sen and the Parliamentary delegation gave a patient hearing to the submissions and assured the industry representatives of their proactive intervention. They committed to examining the issues raised and preparing a detailed note for submission to the Hon’ble Government of India for appropriate action.
Key Submissions by PHDCCI Kashmir:
The chamber presented the following points for the Committee’s consideration:
1) Special Economic Zone for Srinagar: Consistent request for notifying Srinagar as a Special Economic Zone (SEZ) to promote investment, exports, and employment generation.
2) Support for MSMEs: Strengthened marketing support and strict enforcement of the mandatory 25% public procurement from MSMEs.
3) Ease of Doing Business: Urgent implementation of the Business Reform Action Plan (BRAP) in letter and spirit to improve J&K’s national ranking and boost investor confidence.
4) Mega Leather, Wool and Silk Cluster: Establishment of a modern, dedicated cluster for leather, wool, and silk products in Kashmir under a Public-Private Partnership (PPP) model.
5) Logistics & Dry Port: Creation of a safe, all-season logistics corridor and time-bound development of a Dry Port to prevent crises like the recent 18-day National Highway blockage, which severely impacted the horticulture and handicraft sectors.
6) Tourism Sector Distress: Urgent government-backed relief and loan restructuring package for entrepreneurs and youth affected by the recent downturn following the Pahalgam attack.
7) Role of Government Departments: Government departments should function as facilitators and regulators rather than implementing agencies to improve efficiency.
8) Industrial Estate Management: Handing over management of Industrial Estates to stakeholder-led Special Purpose Vehicles (SPVs) registered under Section 8 of the Companies Act.
9) Extension of Industrial Scheme: Urgent renewal of the central industrial incentive scheme that expired in September 2024 to prevent operational setbacks and stall fresh investments.
10) Access to Finances: Ensuring easy access to credit at competitive rates, with J&K Bank playing a lead role. Resolution of adverse CIBIL scores related to the 2019 disruptions to facilitate borrowing.
11) Real Estate Reforms: Holistic policy changes to unlock the sector’s immense Potential for employment and economic growth.
12) Faceless & Digital Single Window System: Implementation of a genuine, integrated digital system with legally binding timelines for all clearances, and fast-tracking of all pending applications since April 2021.
13) Industrial Grievance Redressal Commission: Establishment of an independent, high-level commission with non-government members to resolve chronic issues like land allotment delays and regulatory hurdles.
14) Ready-to-Occupy Industrial Estates: Government focus on developing “plug-and-play” industrial estates with essential infrastructure to reduce setup time and costs for new industries.