Srinagar: The Kashmir chapter of the PHD Chamber of Commerce and Industry (PHDCCI) has proposed a series of financial relief measures and infrastructure reforms aimed at revitalising the industrial and tourism sectors in Jammu and Kashmir during a stakeholders’ interaction meeting on Ease of Doing Business.
The meeting was chaired by Atal Dulloo, Chief Secretary of the Government of Jammu and Kashmir, where PHDCCI Kashmir Co-Chair Himayoun Wani presented a set of recommendations to improve the business environment and attract investment to the region.
During the interaction, Wani highlighted several challenges faced by businesses and stressed the need for a supportive ecosystem to boost industrial activity, encourage investment and generate employment opportunities for the region’s youth.
Among the key suggestions was the development of plug-and-play industrial infrastructure, which PHDCCI said would allow faster project implementation and attract investors to the region. The chamber also recommended granting freehold rights to industrial units allotted land more than 20 years ago, arguing that such a step would provide long-term security to entrepreneurs and encourage reinvestment and expansion.
The chamber welcomed the government’s revised housing by-laws, describing them as a progressive reform that could unlock investment potential, particularly in the tourism sector. It also called for greater awareness campaigns so that stakeholders can fully benefit from the changes.
In addition, PHDCCI urged the government to consider a one-time relaxation of CIBIL norms for businesses whose accounts were adversely affected by the turmoil of 2019 and the downturn in the tourism industry in subsequent years. Wani said such a measure would help stressed businesses regain access to credit and revive their operations.
The chamber also emphasised the need for time-bound delivery of essential online services, including issuance of Fard, demarcation reports and Girdawari, to improve transparency and efficiency in administrative processes.
Taking note of the suggestions, Chief Secretary Atal Dulloo constituted a three-member committee to examine the proposals raised by stakeholders. The committee will include the Additional Chief Secretary (Finance), the Commissioner of Industries and Commerce and the Managing Director of Jammu and Kashmir Bank.
According to officials, the committee will meet monthly to review progress and will hold quarterly consultations with stakeholders.
Welcoming the move, Himayoun Wani said the formation of the committee reflects the administration’s willingness to address ground-level concerns faced by businesses. He expressed hope that measures such as CIBIL relaxation and improved industrial infrastructure would help create a more competitive and investor-friendly environment in Jammu and Kashmir.
Wani also assured the government of PHDCCI’s continued cooperation in supporting economic development
