Excelsior Correspondent
JAMMU, Dec 8: Former general secretary of the Chamber of Commerce and Industry (CCI) Jammu, Gaurav Gupta has demanded capping of industrial package for local traders and industrialists to empower regional growth.
In a statement issued today, Gaurav Gupta expressed his strong support for the Lt Governor’s request to Central Government to escalate the industrial package granted to Jammu and Kashmir to Rs 75,000 crore, following exhaustion of initial package of Rs 28,400 crore. He emphasized that this move is crucial to sustaining the momentum of industrial development in the region and addressing the growing demand from prospective entrepreneurs.
Gupta pointed out that nearly 300 proposals are currently awaiting approval, underscoring the urgent need for the expanded financial package to facilitate further registrations and investments. “This decisive step by Lt Governor Manoj Sinha highlights the commitment of the J&K administration to foster industrial growth and create a robust business environment,” he added.
Gaurav emphasized the need to ensure that some portion of this enhanced industrial package should be reserved specifically for the local traders and industrialists of J&K who often struggles to compete with large-scale industrialists from across the country due to resource constraints and the topography of the region. He also emphasized that the reserved portion of the industrial package should be time-bound in its usage to ensure optimal and efficient utilization.
“It is crucial that local entrepreneurs and industrialists are given their fair share of opportunities under this package. By capping a portion of the package for local stakeholders will not only boost their morale but also enable them to grow and contribute more effectively to the region’s economy,” he said.
The former general secretary further appealed to all trade and industrialist organizations in J&K to unite on a single platform and collectively approach the LG to advocate for this reservation. Gaurav asserted that the Rs 75,000 crore industrial package, if approved, will be a game-changer for J&K.
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