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Kashmir Inc welcomes industrial package, asks government to assess losses of unitholders

Srinagar: Kashmir Inc welcomed Rs 28400 package for uplifting  the industrial sector in Jammu and Kashmir.

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Thursday announced Rs 28400 crore mega “Industrial Development Package-2021” for industrial growth, investments, and job creations.

 Kashmir Inc welcomed the package and hoped that the government will come to the rescue of the ailing sector.


“We support the government in its efforts to help and expand the industrial sector, whether through joint ventures or collaborations,” said Sheikh Ashiq Ahmad, officiating president, Kashmir Chamber of Commerce and Industries.

He said the valley’s industrial sector has suffered huge losses during the last two years. “It will be premature to discuss any government policy till we go through its nitty-gritty. Now if the government has decided to help the industries, we too will extend our support,” Ahmad said.

President Industrial Association, Sopore, Javed Ahmad Bhat said the government should focus on boosting the existing industries in Kashmir.

“The announcement is really a good step, but its implementation would matter. We have heard about such packages before, but their implementation was not good. So, the government should develop the infrastructure and accordingly implement the policies to uplift the industrial sector,” he said.

Bhat appealed to the government to assess the condition of the industries in Kashmir and accordingly provide assistance.

“Moreover, there are various hurdles which industrialists face at government level. The administration should provide every possible support to a unitholder,” he added.

Federation Chamber of Industries of Kashmir said they will go through the pros and cons of the package before reacting.

 As per a preliminary assessment by Kashmir Economic Alliance, the industrial sector suffered losses of Rs 1,248 crore losses due to the two spontaneous shutdowns in the last two years.