STATE TIMES NEWS
JAMMU: Jammu Kashmir Trade Promotion Organization, under the aegis of Department of Commerce & Industry, Government of J&K, on Monday had a fruitful discussion with SIDBI to understand industry practice and highlight strategy to promote industry and commerce. The virtual session also witnessed participation from other state bodies of Punjab, Haryana,Himachal Pradesh and Maharashtra.
Ankita Kar, Managing Director JKTPO highlighted the strengths of the Union Territory for national and international business enterprises and the policies on investment opportunities provided as a part of recent initiatives by the Department. SIDBI also showcased roadmap and interventions that can be planned for Government of JK to promote the Union Territory.
SIDBI highlighted the initiatives for MSME and incentives for organizations in terms of business loan, collateral free lending, bill discounting and others to boost business for entities in Jammu and Kashmir.
Ankita Kar said, “Jammu and Kashmir is offering one of the best business ecosystem, policies and procedures in different sectors. The Government is working hand in hand with allied agencies to ease out processes for business and trade communities of Jammu and Kashmir. With SIDBI’s initiative, trade fraternity shall get a lot of support to accelerate in near future.”
A spokesperson from SIDBI said, “we have also taken the initiative to provide collateral-free lending up to Rs 200 Lakhs to the prospective entrepreneurs in the UT through various banks under CGFT (Credit Guarantee Fund Trust). We are organizing Capacity Building Program in J&K to educate the bankers about the collateral-free lending under CGFT scheme.”
Kar said these initiatives have certainly proved to be instrumental in wooing the prospective investors and entrepreneurs to invest in Jammu and Kashmir.
The meeting concluded with Q&A session, Ankita Kar, Managing Director, JKTPO delivered the vote of thanks to all investors and members. With an aim to put Jammu and Kashmir on an accelerated investment growth phase, various similar interactions are planned across sectors to connect the stakeholders.