Srinagar, Oct 12: A delegation of the Kashmir Chamber of Commerce and Industry led by its President Sheikh Ashiq Ahmed held an interaction with Suresh Prabhu, Union Minister for Commerce & Industry and Civil Aviation in his office chambers at Udyog Bhawan, New Delhi on Thursday.
Sheikh Ashiq Ahmed drew the attention of the minister towards the precarious condition of the State’s economy due to the after effects of September 2014 Floods, disturbances of 2016 and the subsequent economic slowdown and urged for special multi-level interventions to negate the effect of many disadvantages – natural and situational – that commerce and industry of Jammu and Kashmir is faced with.
Specific interventions for promotion and marketing of Handicrafts, Tourism, Horticulture and Industrial Sector were suggested and taken note of.
The minister was informed about the Trade, Commerce & Industrial Conclave being organized by the Kashmir Chamber of Commerce & Industry and were assured appropriate support in this regard.
He, while assuring the delegation of full support from his Ministry, facilitated a detailed interaction of the delegation with officials of the Commerce and Industry Ministry for charting out a roadmap for structured resolution of pending trade, commerce and industry related issues and formulation of policy interventions.
Among other issues relating to the industrial sector, the blockade of working capital of industrial units of Jammu and Kashmir on account of non-disbursal of GST Refund was discussed.
The requisite DIPP inspections for disbursal not being carried out being the reason, Uday Singh Mina, Director DIPP informed the delegation that the Ministry was already seized about the issue and had issued directions for disbursal of GST Refund without DIPP inspection for a period of six months.
Sheikh Ashiq Ahmad welcomed this intervention and said that this was an appreciable step for relieving financial stress from our industrial sector.
The issue of Geographical Indication of Saffron, Spices and Honey under Brand Kashmir was discussed with Susheel Satpute, Director Intellectual Property Rights (IPR) of the Ministry.
The minister issued on spot directions for examination and follow-up of the suggestions of the Kashmir Chamber of Commerce & Industry and showed particular interest in the promotion of Handicrafts.