Excelsior Correspondent
SRINAGAR, July 14: J&K Bank Chairman and CEO Parvez Ahmed today said that standardization of the local products, scale of production and the skill-set both in terms of processing and marketing are the three critical areas for setting up of import substitution industries successfully.
He made these remarks in his presidential address in presence of J&K Industrial & Technical Consultancy Organization (ITCO) Chairman Mohammad Shafi Pandit, during the course of discussion on the Study Report conducted by J&K ITCO on ‘Raw Material Assessment of Goods Imported and Recommendation of Import Substitution Industries in Jammu & Kashmir’.
Talking about the idea of assigning the mandate to J&K ITCO for conducting the study, Parvez Ahmed said that idea behind conducting the study was to look beyond the given constraints of infra-structure, fragile environment and recommend practical and effective measures that are sustainable besides being successful within the given set of constants in the State.
He said that the initial focus under a timeline driven roadmap would be on sectors having huge indigenous demand like dairy, poultry, sheep farming, agri processing etc., for which competence and resources were available in abundance in the State. This will protect the flight of capital from the State which hitherto was not making any contribution for creation of gainful employment for our youth, the Chairman said.
The CEO J&K Bank also acknowledged the contributions of Chairman J&K ITCO M S Pandit in his roles as a senior bureaucrat and Director of Board of J&K Bank.
Earlier Pandit elaborated on the profile of J&K ITCO which was set up as a premier consultancy organization under the leadership of Dr A M Khusro. He profusely lauded the role of J&K Bank for sponsoring the study on one of the most important issues of local economy and industries.
Others present on the occasion, included ITCO’s Senior Advisor Dilip Jain, Promoter Director Rajeev Mehra, CEO Sanjeev Arora, MD SFC Farooq Thoker, General Manager SICOP besides the bank’s Executive Presidents, Senior President, President, Vice Presidents and other officers of the bank.
CEO ITCO Sanjeev Arora made a detailed presentation on ‘Raw Material Assessment of Goods Imported and Recommendation of Import Substitution Industries in Jammu & Kashmir’ after taking into account various parameters determining their viability.
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