Srinagar, May 22: Representatives of the PHD Chamber of Commerce and Industry (PHDCCI) Kashmir on Thursday held detailed deliberations with the Parliamentary Standing Committee on Industry, highlighting issues related to credit guarantee schemes, revival of sick industries and marketing support for key sectors of the Kashmir economy.
The discussions were held between Tiruchi Siva and members of the committee with a delegation led by A P Vicky Shaw and Co-Chairman Himayu Wani.
The meeting focused on a comprehensive review of Credit Guarantee Schemes for Micro, Small and Medium Enterprises (MSMEs) and issues affecting industries and entrepreneurs in Jammu and Kashmir.
During the interaction, A P Vicky Shaw informed the committee that PHD Chamber of Commerce and Industry Kashmir had recently organised what he described as a first-of-its-kind awareness workshop in collaboration with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and leading banks operating in the Valley.
He said such awareness programmes were essential for bridging information gaps and improving credit flow to small businesses and entrepreneurs in the region.
The PHDCCI delegation also highlighted concerns regarding sick industrial units and stressed the need for urgent revival strategies to support struggling industries in Jammu and Kashmir.
Another major issue raised during the meeting was the need for stronger marketing support for viable industries in Kashmir to help them access larger domestic markets and improve their competitiveness.
A P Vicky Shaw also informed the Parliamentary Committee that the Jammu and Kashmir administration was working towards improving ease of doing business in the Union Territory.
“We are hopeful that a new industrial scheme will be introduced, one that significantly eases doing business in the region,” he said.
Special emphasis was laid on the fragile nature of Kashmir’s economy, with the PHDCCI leadership stressing that sectors such as tourism, horticulture, handicrafts and handloom required generous and easily accessible financial support from banks and lending institutions.
The delegation said that given the unique economic vulnerabilities of Jammu and Kashmir, customized financial assistance and sector-specific support were essential for sustaining livelihoods and generating employment.
Himayu Wani and A P Vicky Shaw also underlined the importance of strengthening institutional financing for allied sectors linked to tourism and horticulture.
According to the statement, Tiruchi Siva and members of the committee acknowledged the concerns and assured that the issues raised, particularly regarding implementation of credit guarantee schemes and sector-specific support for Jammu and Kashmir, would be examined in detail.
I’ve been looking into this exact trend and your points on stitched
fashion is incredible. Love the insight!