BBIA hails Curtain Raiser Investor meet
22/01/2020
JAMMU, JAN 21: A meeting of members of the Bari Brahmana Industries Association (BBIA) was held today under the Chairmanship of Lalit Mahajan in the presence of Tarun Singla, Sr. Vice President, Ajay Langer Vice President, Viraaj Malhotra General Secretary, Rajesh Jain Secretary, Vivek Singhal Treasurer BBIA to discuss the Curtain Raiser Investor Meet. Industrial Fraternity of Jammu & Kashmir welcomes the initiative taken by Industry Department for holding the first ever Curtain Raiser Inverter Meet at New Delhi on 20-01-2020 under the able Guidance of Lt. Governor G.C Murmu which is a step towards to hold an Investor's Meet in the month of April 2020 a vision of Prime Minister Narenda Modi for rapid Industrialization in Union Territory of Jammu & Kashmir which will boost the Economy of the State by providing the Direct and Indirect Employment avenues to the Local peoples of the State. It is worthwhile to mention here that our State is a Landlocked State with the limited Marketing Aven-ues, Hostile Conditions since last 30 years, Surrounded by China & Pakistan, and keeping it in mind the above facts Govt. of India supported Jammu and Kashmir State to accelerate Industrial Develop-ment in the state and created an environment for Industrial Development by improving availability of capital and increase market access to provide a fillip to the Private Investment & accordingly to Jammu & Kashmir New Industrial Policy granted Package of Incentives in 2002 which was further extended for the period 15-06-2012 to 14-06-2017 and 15-06-2017 to 31-03-2022 due to which Jammu and Kashmir Divisions have together added (registered) more than 25804 units with a total initial investment of above Rs.3936 crores. The employment generation is close to 1,65,688 direct employment with the addition of indirect employment, the total figure touched approximately 4 Lac persons in private sector which is equivalent to State Govt. Employees till the adoption of GST by the J & K State under One Nation One Tax Regime.
It is pertinent to mention here that after the implementation of GST w.e.f. 08-07-2017 & non availability of State Fiscal Incentives to the New Units & the Units under Substantial Expansion resulting sharp decline in the Industrial Growth since last two & half years after the adoption of GST as per the data available with the Association
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