KCCI, J&K Bank join forces to boost local exports

Srinagar, July 3: In a significant move to bolster the export sector in Jammu and Kashmir, J&K Bank and the Kashmir Chamber of Commerce & Industry (KCCI) hosted a groundbreaking interactive session with local exporters at SKICC on Tuesday. The event, the first of its kind, brought together key stakeholders including senior officials from J&K Bank, Customs, and ECGC.

Presided over by J&K Bank's Managing Director, Baldev Prakash, the session saw active participation from exporters who raised various issues faced in their operations. KCCI President Javed Tenga commended J&K Bank's role in the state's economic development and highlighted Prime Minister Narendra Modi's recent praise for the bank's performance in reducing NPAs from 11% to 4.75%.

Tenga called for an OTS Scheme without cap and a longer time frame to further support local businesses. He also addressed problems exporters face with J&K Bank, Customs, DGFT, and ECGC.

MD Baldev Prakash emphasised the bank's efforts to enhance services and underscored the crucial role of exports in achieving India's $5 trillion economy goal. Additional Commissioner of Customs, Joginder Singh, acknowledged systemic issues affecting exporters and promised swift resolution.

ECGC representative Rahul Sharma presented various schemes available to exporters, adding valuable information to the discussion.

The session's highlight was the on-the-spot resolution of several exporter issues by J&K Bank's MD, demonstrating the bank's commitment to supporting local businesses. The event concluded with a resolution to hold such interactions regularly, marking a new chapter in the collaborative efforts to boost J&K's export sector.