‘Federation of Jammu submitted memorandum to parliamentary standing committee on industry’

A Delegation of Federation of Industries, Jammu led by Lalit Mahajan, Chairman Federation of Industries, Jammu presented a memorandum to the K.C Tyagi, Chairman, Parliamentary Standing Committee on Industry in the presence of Shamsher Singh Manhas & other Members Parliament of both the Houses on the behalf of Industries Fraternity at Srinagar on 23-05-2016.
Lalit Mahajan said that the Development of J&K has to be designed keeping in view the State’s unique Economic Drawbacks arising out of Locational Disadvantage, Militancy Effected, Surrounded by hostile neighbours like Pakistan & China, Remoteness & Poor Connectivity, Hilly Terrain, Poor Infrastructure and shallow Markets coupled with Law & Order situation since 1990 which have resulted in low Economic activity, low Employment and low Income generation. The immediate priority in this regard is to restore the confidence of the Entrepreneurs. During the course of discussions, Mahajan highlighted the various issues related to the Industrial Sector for the extension of incentives on the pattern of North Eastern Package for a period ten years including Restoration of Refund of 100% Central Excise Duty paid, 100% Income Tax Exemption for Industrial Units, Extension of DIPP Package of Incentive which is going to be expire on 14-06-2017, Exemption to Industrial Sector from the preview of Goods & Services Tax, Setting up of Mother Industry and others. KC Tyagi, Chairman, Parliamentary Standing Committee on Industry assured the delegation that the committee will take up the matter with the Govt. of India to resolve the issues related to the Industrial Sector as early as possible for speedy Industrial Growth in our State which will provide employment to local unemployed youths of the State.

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