PHDCCI submits blueprint for trade, tourism revival
Srinagar, Sep 15: The Kashmir Chapter of the PHD Chamber of Commerce and Industry (PHDCCI) on Monday presented a detailed roadmap for boosting trade and investment in Jammu and Kashmir to the Department-related Parliamentary Standing Committee on Commerce, which is on a visit to the Union Territory.
The PHDCCI delegation was led by its Chairman, A P Vicky Shaw, along with Co-Chair Himayu Wani, General Convener Bilal Kawoosa, and Deputy Director Kashmir, Iqbal Fayaz Jan. They held an extensive interaction with Committee Chairperson Dola Sen and accompanying Members of Parliament including Renuka Chowdhury, Awasthi Ramesh, Yusuf Pathan, Shiv Pal Singh Patel, Sadanand Mhalu Shet Tanavade, Santosh Panday, Prasun Banerjee, and Prashant Yadaorao Padole.
The delegation pressed for immediate reforms to improve J&K’s ranking in the Ease of Doing Business index, stressing that cumbersome procedures and policy delays continue to discourage investment.
It proposed confidence-building measures for entrepreneurs, including banking sector support and relaxed lending norms for industries hit by recent disruptions.
Among its key recommendations, PHDCCI sought notification of Srinagar as a Special Economic Zone to attract investment, establishment of a mega cluster for leather, wool, and silk products under a PPP model, and creation of an all-weather logistics corridor with a dry port to prevent crises like the recent 18-day highway blockade that crippled horticulture and handicrafts. The Chamber also urged targeted relief for the tourism sector, including loan restructuring for entrepreneurs affected by the Pahalgam attack.
The delegation called for strict implementation of the 25% mandatory public procurement from MSMEs, extension of the expired central industrial incentive scheme, and easier credit access through J&K Bank. It also flagged adverse CIBIL scores from past disruptions, urging government-backed mechanisms for reassessment.
Other proposals included reforms in real estate to unlock employment opportunities, implementation of a genuine faceless single-window clearance system, ready-to-occupy industrial estates, and transfer of industrial estate management to stakeholder-led Special Purpose Vehicles. PHDCCI also demanded an independent Industrial Grievance Redressal Commission to resolve long-pending issues like land allotment and regulatory hurdles.
Committee Chairperson Sen assured the delegation that their concerns would be taken up seriously and a detailed note would be submitted to the Government of India.
PHDCCI expressed optimism that its blueprint, if acted upon, could set the stage for sustainable economic growth and position Jammu and Kashmir as an attractive investment destination.
