PHDCCI shares industry inputs on proposed amendments to Industrial Policy

Srinagar, Dec 31: The Jammu and Kashmir chapter of the PHD Chamber of Commerce and Industry (PHDCCI) participated in a virtual meeting with the Industries and Commerce Department to discuss proposed amendments to the J&K Industrial Policy 2021–30.

The meeting was chaired by Commissioner Secretary Industries and Commerce Vikramjit Singh and Director of Industries, Jammu, Rakesh Manhas.

The PHDCCI delegation was led by Rakesh Wazir, Chairman, Jammu Region. From the Kashmir region, the delegation included Himayu Wani, Co-Chair; Javaid Anim, Co-Chair; Bilal Kawoosa, General Convenor, PHDCCI Kashmir; and Deputy Director PHDCCI Iqbal Fayaz Jan.

During the meeting, the PHDCCI presented a set of priority suggestions aimed at making the industrial policy more robust, inclusive and aligned with the goal of sustainable industrial growth in the Union Territory. The department advised the chamber to submit its inputs in a detailed written format, with key recommendations flagged separately, a commitment the PHDCCI agreed to fulfil promptly.

The session also featured an awareness segment on the MSME Health Clinic portal, highlighting its role as a support mechanism for the revival and strengthening of micro, small and medium enterprises.

The PHD chamber shared summarised suggestions covering critical areas, including inclusion of the service sector within the policy framework, rationalisation of tax exemptions and SGST reimbursement mechanisms, enhancement of solar subsidy provisions with higher incentive capping, and extension of incentives to existing industries undertaking substantial expansion.

Other suggestions included exemption of stamp duty and court fees for all CLU-approved industrial land, both within and outside notified industrial estates, including cases involving changes in constitution, such as dissolution, induction or retirement of partners. The chamber also proposed the formation of special-purpose vehicles for industrial estate management, along with stronger marketing support and purchase preference provisions.

Rakesh Wazir said the interaction with the department was productive and welcomed the government’s openness to stakeholder consultation. He said the suggestions were practical and focused on simplifying procedures, improving competitiveness and creating an ecosystem in which both existing and new industries could grow sustainably.

Commissioner Secretary Vikramjit Singh appreciated the inputs shared by the PHDCCI and assured that the department would examine the comprehensive written submission once received.

Himayu Wani said the PHDCCI remains committed to working closely with the Government of J&K to refine the industrial policy so that it serves as an effective catalyst for economic growth and employment generation in the Union Territory.