Excelsior Correspondent
Srinagar, June 11: Association of Integrated Textile and Handicrafts Park Zakura (AITHP) today emphasised the potential of the existing industry to significantly reduce unemployment and boost the economy of Jammu and Kashmir.
A spokesperson of the association said during an interactive session on the “Status and Potential of Existing Industry,” leaders from the industrial fraternity convened to discuss the current state of the industry and propose concrete policy interventions. “The day-long session shed light on the alarming condition of the industry, with approximately 80% of units either closed or operating below their break-even point,” he said.
He informed that the former president of FCIK, Mohammad Ashraf Mir, highlighted the adverse impact of unilateral changes in industrial policy since 2019. “These changes, including the withdrawal of government marketing support and incentives, have undermined the viability of local manufacturers, exacerbated by challenges such as communication gaps, harsh weather conditions, and expensive labour costs. Mir also expressed concerns about the rising bad loans, predicting that 90% of industrial unit bank accounts may turn into non-performing assets within a year if the trend continues,” he said.
He said that the President of AITHP, Syed Afaq Qadiri, presented an extensive assessment of the estate’s infrastructure deficiencies, such as the lack of compound walls, drainage systems, effluent treatment plants, and properly paved roads. “Qadiri mentioned that out of the 87 units in the estate, 84 were operational and engaged in various handicraft and textile activities, all falling under the green category,” he said.
He said Commissioner Secretary Vikramjeet Singh assured the unit holders that their genuine issues would be resolved. “Commissioner issued instructions to the officers of the Industries and Commerce Department (I&C) and State Industrial Cooperative Society (SICOP) to complete pending works and maintain the estate,” he said.
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