Jammu, Oct 10 (JKNS): In a significant development for Jammu and Kashmir’s industrial landscape, Deepak Gupta, Convener of the Bharatiya Janata Party (BJP) Industrial Cell, submitted a comprehensive memorandum to Leader of Opposition Sunil Sharma, urging his intervention in resolving the mounting challenges faced by the local industrial sector.
The memorandum, prepared after extensive consultations with industrial associations across Jammu, highlights a series of critical issues that demand immediate policy attention in the upcoming Assembly Session.
During the meeting, Deepak Gupta apprised the Leader of Opposition of the absence of a comprehensive industrial framework in J&K. He noted that the last Industrial Policy lapsed without renewal, leaving the Union Territory without a guiding document to attract investments or support existing enterprises. While the New Central Sector Scheme (NCSS) 2021 provides central-level incentives, Gupta emphasized that a state-specific industrial policy is urgently needed to harmonize central schemes with the Startup Policy 2024 and the needs of small and medium enterprises (SMEs). This, he said, would restore clarity, confidence, and stability in the business environment.
Gupta also raised concerns over the delayed disbursement of turnover incentives promised at 3%. He revealed that only around 10% of the claims for FY 2021–22 have been released, while subsequent years’ claims remain pending. Such delays, he said, have hurt business morale and jeopardized the sustainability of several industrial units. He called for the immediate release of all pending incentives as per official commitments.
Another key issue outlined in the memorandum pertains to land allotment in industrial estates. Gupta pointed out that many entrepreneurs have deposited full premium amounts but are yet to receive possession of their plots due to incomplete estate development. This has led to capital blockage for investors. He urged the government to expedite estate development and pay interest at a minimum rate of 8% per annum on collected premiums until possession is granted.
The memorandum further emphasized the revival of the Small Scale Industries Development Corporation (SICOP) — described by Gupta as the backbone of small-scale industries in J&K. He noted that SICOP’s workshops and testing laboratories are crucial for small units lacking independent infrastructure. Reviving SICOP, he said, would facilitate local procurement and prevent contracts from being monopolized by large outside firms, ensuring that economic benefits and employment remain within the Union Territory.
Gupta also proposed the adoption of a Local Procurement Policy guaranteeing at least 60% purchase preference for J&K-based industrial units. Such a measure, he said, would strengthen local entrepreneurship and advance the Prime Minister’s ‘Vocal for Local’ vision.
Addressing another long-standing demand, Gupta suggested that the Government grant ownership rights in selected urbanized industrial estates, particularly those developed and maintained by SICOP. He observed that many industrialists had invested heavily in these plots on faith in government policy, and that ownership rights would recognize their contribution while ensuring long-term security for investors and their families.
The memorandum also advocates for a research-based, region-specific industrial policy promoting sustainable investment in sectors where J&K holds natural advantages including tourism, mineral-based industries, and food processing. Gupta proposed a capping mechanism on external investments to ensure that incentives benefit genuine local entrepreneurs rather than large external entities.
In addition, he called for the immediate release of pending SGST refunds from previous financial years, citing severe liquidity challenges among small industrial units. Timely refunds, he said, would provide much-needed cash flow relief to sustain operations.
Gupta stated that the memorandum reflects the collective voice of Jammu’s industrial community, which has consistently supported government reforms in a spirit of partnership. He expressed confidence that LoP Shri Sunil Sharma Ji would raise these vital issues during the upcoming Assembly Session to ensure that industrial revival remains a legislative priority.
Reaffirming the BJP Industrial Cell’s commitment to entrepreneurship, job creation, and self-reliance, Gupta reiterated that the Cell stands aligned with the party’s broader vision of economic empowerment and inclusive growth in Jammu and Kashmir. (JKNS)
