1 min read

KCCI seeks upgrading of GI tagging infrastructure 

May 8, 2024

SRINAGAR: Kashmir Chamber of Commerce & Industry (KCCI) led by President Javid Ahmad Tenga, engaged in an interactive meeting with Vikramjit Singh, the Commissioner of Industries & Commerce, on Tuesday

A KCCI statement issued here today said the discussions during the meeting covered various critical issues affecting the industrial landscape of the region. Among the prominent topics discussed was the urgent need to upgrade the Geographical Indication (GI) tagging infrastructure to meet the rising global demand for GI-tagged Pashmina and related products. The sluggish pace of GI certification due to limited infrastructure and manpower has resulted in significant delays in exporting merchandise, adversely impacting international trade. In response to this concern, the Commissioner directed prioritization in the GI certification process for shipments exportable under Letter of Credit.

Another significant issue raised by the KCCI was the inadequacy of the current Harmonized System of Nomenclature (HSN) Code for Pashmina and other value-added shawls in covering these products. The delegation highlighted the necessity of revising the HSN Code for Kashmiri shawls to ensure fair representation and adequate drawback caps.

The meeting also delved into broader industrial development concerns, including the expansion of the industrial base and the need for robust infrastructure in newly identified estates to facilitate operational efficiency. Proposals were made to revise land allotment policies, streamline NOC issuance through a single-window system, and extend the timeframe for initiating operations. The delegation also advocated for rational modifications to the ranking policy for land allotment, continuation of incentives under the 2016 Industrial Policy, and measures for rehabilitating sick units and facilitating changes in industrial activities.

In response, the Commissioner provided insights into government initiatives aimed at supporting industrial growth, including the Raising and Accelerating MSME Productivity (RAMP) program supported by the World Bank. He emphasized the government’s commitment to providing marketing assistance to industrial units and highlighted ongoing discussions regarding partnerships with Non-Banking Financial Companies (NBFCs) to diversify financial support for industrial units.

Discover more from The Kashmir Monitor

Subscribe to get the latest posts to your email.

Don't miss a beat! The Kashmir Monitor delivers the latest Kashmir news, sports highlights from every league, political updates, entertainment buzz, and tech innovations happening right now.

A Newspaper company in Kashmir

Leave a Reply