FICCI to set up an office in Srinagar

FICCI has decided to set up an office in Srinagar as part of its drive to expand its operations across the country. This is for the first time that a leading business chamber has decided to set up its office in Jammu and Kashmir.

The move is also critical because it is coming at a time when the state has embarked on labour law reforms besides improving its industrial infrastructure in rural areas, and has already joined the nationwide Goods and Services Tax (GST) to help businesses in J&K be part of the integrated indirect tax structure implemented on July 1, 2017.

FICCI Secretary General Dr. Sanjaya Baru said that the industry chamber's J and K partnership initiative will focus on areas like tourism, food processing and skill development to begin with. The idea is to hand-hold the industry in doing business in Jammu and Kashmir. We are happy to accept the invite of Jammu and Kashmir Finance Minister Dr. Haseeb Drabu to help industry and government in the state.

According to J and K Finance Minister Dr. Haseeb Drabu, the FICCI move to set up its office in the state will help local businesses in networking with their counterparts outside the state.

"Their concerns will get a bigger and better platform nationally to get articulated. Otherwise the local businesses are isolated and their problems ignored," he added.

The oldest industry chamber in the country, FICCI has about 60 dedicated teams covering specific industry sectors, and heads of each team will now discuss ways to tap the opportunities in the state with the business leaders there.

Horticulture and Floriculture, Hydro-power, Information Technology and IT enabled services are some of the areas where J and K can attract investments.

Dr. Baru said that FICCI will provide all possible help to the state and its business leaders in getting investments from businesses operating in other parts of the country and abroad.