FCIK Optimistic About Revitalization of MSME Sector in Jammu & Kashmir

The Federation of Chambers of Industries Kashmir (FCIK) has expressed optimism that the new government will bring much-needed revitalization to the industrial sector in Jammu and Kashmir, which has faced significant challenges for over a decade.

In an Advisory Committee meeting chaired by FCIK President Shahid Kamili, members voiced concerns over the precarious state of local industries, emphasizing that many enterprises were on the brink of collapse due to neglect and indifference. The FCIK highlighted that the formation of the new government has rekindled hope among industrial stakeholders, who believe that prioritizing the revival and empowerment of the industrial landscape is essential for fostering growth and sustainability.

The FCIK has urged the government to engage in urgent consultations with stakeholders to tackle pressing issues affecting local industries. Members recalled that during the tenure of Omar Abdullah from 2009 to 2014, many critical challenges faced by various industrial segments were successfully resolved. One notable success was the resolution of issues faced by thousands of wood-based industrial units in J&K, located within 8 kilometers of designated forests, which had faced closure due to orders from the Supreme Court. Thanks to the prudent planning and decisions of the government at the time, these units were regularized, reflecting the government’s commitment to supporting local industries.

Members also highlighted the role of the FCIK President, who was included in two Prime Ministerial Committees during that period, which helped address the concerns of MSMEs and the issue of rising unemployment in the region.

While the FCIK lauded the involvement of stakeholders in the decision-making process during Omar Abdullah’s previous tenure, they expressed concern that local chambers have now been largely excluded from important boards and committees. This exclusion, they believe, has weakened the ability of industrial bodies to effectively advocate for local businesses.

The industrial sector in Jammu and Kashmir is currently contending with multiple challenges, according to FCIK members. The simultaneous application of three different industrial policies has created confusion, and they have called for the implementation of a unified, comprehensive policy that consolidates all available incentives from Central and Union Territory government schemes.

The FCIK hopes that the new government will prioritize these issues and bring about a much-needed revitalization to the MSME sector, ensuring its growth and sustainability in the coming years.

Disclaimer: The information provided in this article is based on the statements and opinions expressed by the Federation of Chambers of Industries Kashmir (FCIK) during an Advisory Committee meeting. The content aims to reflect the current discussions and concerns related to the MSME sector in Jammu and Kashmir. Please note that this article does not represent the official stance of the government or any related authorities.