ICC Jammu flags war-time challenges; seeks financial package and urgent reforms 

Jammu: Amidst the ongoing crisis in Jammu & Kashmir, the Executive Council of the Indian Chamber of Commerce (ICC), Jammu, convened an emergency meeting under the chairmanship of Rahul Sahai to address the mounting economic and humanitarian fallout of the conflict. The meeting began with a two-minute silence in memory of security personnel and civilians killed in the recent Pahalgam terror attack.

The Council unanimously expressed solidarity with the Armed Forces and lauded the leadership of the Prime Minister for his decisive response to the attack. Council members also appreciated the active engagement of Lieutenant Governor Manoj Sinha and Chief Minister Omar Abdullah, both of whom visited conflict-hit border areas and remained in touch with trade and civil society stakeholders. ICC Chairman Rahul Sahai informed that both leaders had received recommendations for activating critical services like information, health, blood donation camps, and fire services.

The Council highlighted severe disruptions caused by the war, including:

• Damage to homes and mass displacement along border areas.

• Suspension of flights, trains, and business activity.

• Collapse of tourism and labour migration leading to 70% workforce shortages.

• Banking distress, delayed GST refunds, and zero insurance coverage under the “Act of War” clause.

Key demands and recommendations

The ICC called upon the Hon’ble Finance Minister to announce a special financial assistance package for Jammu & Kashmir, along with several sectoral interventions:

Labour retention and confidence building

The mass exodus of migrant workers has severely impacted industries. ICC urged the government to immediately launch confidence-building measures—such as free transport, toll-free helplines, and safety campaigns—to bring labourers back to J&K.

Insurance and credit relief

Insurance companies denying claims under the “Act of War” clause was flagged as a major concern. The ICC sought urgent intervention from the Finance Ministry and IRDAI to protect business properties and prevent banks from freezing accounts and CC limits.

Sector-specific measures proposed

• Pending Funds: Immediate release of GST refunds (₹20 crore pending at Gandhi Nagar Treasury), turnover incentives, and NCSS refunds.

• Power Relief: 50% rebate in power charges and no tariff hikes during the crisis.

• MSME Support: Six-month interest reimbursements, RBI credit score protection, and concessional working capital loans.

• Tourism Revival: Promote upcoming pilgrimages and festivals nationally, counter damaging hashtags like “Boycott Kashmir,” and engage influencers.

• Education: Ensure CUET exams are held within J&K, not outside UT. Expedite higher education exams and call back students of IITs/IIMs stuck outside.

• Logistics: Keep highways open 24×7; route military convoys via Mughal Road where possible.

• Policy Reforms: Urged formation of an Industrial Consultative Committee, disbursal of pending Ayushman Bharat payments, rollout of J&K Master Plan.

• Cybersecurity: Set up dedicated cyber response teams and audit vulnerable IT infrastructure.

• Schooling: Reopen schools only after full normalcy; opt for online learning in the interim.

• Transportation: Restore full flight and train operations.

• Rumour Control: Take legal action against fake news spread via social media.

Council members present

The meeting was attended by several key stakeholders, including Samardev Charak, Ashish Jain, Raj Dua, Anil Sharma, Varun Mahajan, Gajendra K Lodha, Ali Jaffery, Shantanu Gupta, Zeeshan Ahmed, Kuldeep Gupta, Amarjeet Kukreja, and Niranjan Surana.

The Indian Chamber of Commerce, Jammu, made an urgent appeal to the Central and UT Governments to implement these measures swiftly in order to restore stability, revive economic activity, and safeguard the livelihoods of people across Jammu & Kashmir.