Srinagar January 8: The executive body of Kashmir Chamber of Commerce and Industry led by President Sheikh Ashiq Ahmad called upon the Chairman & CEO J&K Bank Parvez Ahmed here at the Bank’s Corporate Headquarters today.
President KCCI outlined the calendar of activities of the Chamber for the promotion of tourism industry, starting with a Mega Show in Malaysia; promotional activities in collaboration with FICCI, ICCI, Export Promotion Council etc for promotion of handicrafts and other Kashmir art with the aim to bring tourism and handicraft industry of the state on growth trajectory.
The KCCI he added was also planning to participate in India Trade Expo, ASEAN Buyer Seller Meet and Dilli Haat Exhibition in the month of February.
The delegation requested the Chairman for setting up of a Joint Advisory Committee comprising members from the bank & Industry to brainstorm on the progress & challenges in the sectors besides deliberating on the resolution of stressed assets of the bank in these sectors.
The President KCCI assured the Chairman that the Chamber would play an active role in resolution of such cases. Seeking Bank’s support he said that KCCI was coming up with a new Chamber House at Rajbagh and expected support from J&K Bank in its development.
The Chairman after hearing the delegation, appreciated the initiatives of the Chamber and said, “Bank has undertaken a strategic Shift in its lending operations which has been directed to the productive sectors of the state economy to revive growth in the core sectors of horticulture, tourism & handicrafts besides nurturing the entrepreneurial ecosystem in the state. The Bank is proactively working on enabling economic activity in J&K through capacity building interventions and improved outreach within the state. A total of Rs 12000 Cr of net credit has been added in the J&K state business over the last two years. Despite the evident stress in some of the sectors the bank has adopted the handholding approach for the business community and the assurance of the KCCI president to play an active role in resolution of some of the stressed assets is a welcome reciprocation”
“The Bank is very keen to replicate the successful model of Apple Project, wherein the Bank proactively collaborated with the apple growers, in the handicrafts sector for reviving the growth. Worthwhile to mention that the artisan who is the most important entity in the handicraft industry is empowered as was the focus of the Bank in case of Apple Project to empower the grower. Let us strengthen artisan by enabling him to innovate in line with the changing tastes of the global consumers besides preserving the heritage design. Thorough research was required to ensure development of the handicraft industry on modern lines” he added.
The Chairman also conveyed to KCCI to come up with a plan with regard to the development of village clusters in respect of handicrafts for better and directed interventions. This he said will also help in creating a conducive ambience for the artisans to work so that they can produce world class products.
During the meeting it was decided to constitute a Joint Advisory Committee Bank’s Executive President P K Tikoo, Presidents Mohammad Maqbool Lone and Arun Gandotra were nominated as representatives from the Bank while as KCCI nominated its Senior Vice President Nasir Hamid Khan, Secretary General Farooq Amin and Joint Secretary General Sheikh Gowhar Ali.
Meanwhile, president KCCI said that a proposal with regard to revival of carpet industry had already been submitted to the bank especially with Sumbal/Sonawari area in focus where there was a large number of active weavers.
The Chairman instructed the President Credit to look into the matter. Earlier during deliberations the Chairman also suggested the Chamber to encourage businesses to get them rated from the rating agencies for the larger benefit of their businesses.
On the demand of the chamber, the Chairman also directed for exploring option for creation of a new hassle free customized credit product for Tour & Travel industry and launch the product expeditiously. The meeting concluded by vote of thanks presented by Senior Vice President KCCI Nasir Hamid Khan.