Micro, Small Scale Sector of JK on the verge of Closure: FOIJ
24/01/2020
JAMMU, JAN 23:An Urgent meeting of Federation of Industries was held under the chairmanship of Rattan Dogra in presence of Lalit Mahajan, Jatinder Aul, Ajit Lal Bawa, Vijay Aggarwal, Deepak Dhewan, Co-Chairmen FOIJ, Viraaj Malhotra Secretary General & other Executive Committee Members of Federation of Industries Jammu.
Federation of Industries Jammu raised serious concern towards the uncertainty prevailing in the mind of Micro and Small Scale Industrial Units of J&K due to inadequate Fiscal Incentives granted in post GST Regime to around 7000 to 8000 Units resulting great resentment amongst the Unit holders who are providing Employment to Local Youths.
It is worthwhile to mention here that the Micro & Small Scale Units set up by the Sons of the Soil working in the State facing Militancy since last 30 years, limited marketing avenue, higher production cost and keeping in mind the above facts, the State Govt. provided VAT Remission Incentives to the such Units from 2005 for their survival by selling their products within the State in Pre-GST Regime but the same Incentives as per the State Industrial Policy 2002 diluted in Post GST Regime and only Incentives of SGST Refund on the Value Addition was given w.e.f 08-07-2017 to existing units resulting most of the Units on the verge of Clouser which may be resulting into mass scale retrenchment of Local Industrial Workers.
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