Industry body Ficci today said it has decided to set up an office in Srinagar to handhold the industry in doing business in Jammu and Kashmir, a move that will also help the state attract investments.
"This is for the first time that a leading business chamber has decided to set up its office in Jammu and Kashmir," Ficci said in a statement.
The move comes at a time when the state has embarked on labour law reforms besides improving its industrial infrastructure in rural areas and joined the nationwide Goods and Services Tax (GST) to help businesses in J-K be part of the integrated indirect tax structure implemented from July 1, 2017, the chamber said in a statement.
Ficci Secretary General Sanjaya Baru said the industry chamber's J&K partnership initiative will focus on areas like tourism, food processing and skill development initially.
"The idea is to handhold 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," Baru said.
According to Drabu, the move by Ficci 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 said in the statement issued by Ficci.
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&K can attract investments.
Baru said 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.
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