Rattan Lal Gupta expresses serious concern over deteriorating industrial sector in J&K

 Urges Union Govt to establish DRDO Centre, Rail Coach Factory in J&K

Jammu, Jan 25: Rattan Lal Gupta, Provincial President of Jammu and Kashmir National Conference (JKNC), has raised serious concerns over the alarming condition of industrial units in Jammu and Kashmir, blaming the successive government for their apathetic approach towards the existing industrial sector.

 

Strongly reacting to the recent statement by Lieutenant Governor Manoj Sinha regarding the assurance from the Prime Minister and Home Minister on enhancing the Industrial Development Scheme for J&K, Rattan Lal Gupta said that no concrete efforts have been made in the past ten years to revive the struggling industrial sector. He lamented that while the government has been making lofty claims, industrialists continue to suffer due to lack of support and proper policy framework.

 

He highlighted that the industrial sector in Jammu is reeling under a severe economic crisis, with many units already shut down and others on the verge of closure. He asserted that despite repeated appeals, the government has failed to provide any substantial financial relief or introduce commerce- and industry-friendly policies to rejuvenate the sector.

 

The senior NC leader criticized the government for inviting investors from outside the Union Territory while completely ignoring the plight of existing industrialists. He stated that local entrepreneurs are struggling due to non-productive policies of the administration, which have remained unchanged for nearly a decade. He further said that the lack of communication between the government and industrial stakeholders has worsened the situation, leading to uncertainty and financial distress among local business owners.

 

Gupta stressed the urgent need for an expansion model for existing industries, stating that J&K lacks a proper startup ecosystem for industrialists. He pointed out that no major startup ventures have been visible on the ground, primarily due to the absence of well-formulated schemes and financial incentives.

 

He pointed out that since the abrogation of Article 370, no major industrial units have been established in the Jammu region, which contradicts the government’s claims of rapid industrialization. Instead, he said, industrialists are grappling with financial difficulties due to the government’s negligence and lack of proactive measures.

 

The Provincial President sought immediate financial support for both existing and new industrial units through Central and State fiscal incentives. He also urged the government to introduce reforms in GST reimbursement to ease the financial burden on industrialists.

 

Furthermore, he called for the establishment of a Defence Research and Development Organisation (DRDO) centre and a Rail Coach Factory in Jammu, which would not only boost industrial development but also generate significant employment opportunities for the youth of Jammu and Kashmir.

 

Rattan Lal Gupta reaffirmed commitment of NC Government headed by Omar Abdullah in supporting the business community and urged the administration to take immediate corrective measures to save the dying industrial sector before it is too late.