FCCI to setup office in Srinagar

Drabu welcomes decision, says it will help local industry

Srinagar, Publish Date: Jan 19 2018 12:32AM | Updated Date: Jan 19 2018 12:40AM
FCCI to setup office in SrinagarFile Photo

To help create business environment and boost investment in Jammu and Kashmir,  New Delhi-based industry chamber FCCI today announced to setup an office in Srinagar.

Federation of Indian Chambers of Commerce and Industry (FICCI) Secretary General Sanjaya Baru told Greater Kashmir over phone that the industry chamber’s J&K partnership initiative will focus on areas like tourism, food processing and skill development to begin with. Baru said the FICCI Srinagar office will be operational from March 1.

Tow all-India business bodies Confederation of Indian Industries (CII) and PHD Chamber are already operating in Kashmir for the past few years.  

“The idea is to handhold the industry in doing business in Jammu and Kashmir. We are happy to accept the invitation of Jammu and Kashmir Finance Minister Haseeb Drabu to help industry and government in the state,” Baru said.

“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 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 leadersin the state, Baru said, adding, horticulture and floriculture, hydro-power, Information Technology and IT enabled services are some of the areas where J&K can attract investments. 

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.

“First we have to prove ourselves on the ground and show how much we can go on the ground. We don’t have a local executive committee in Kashmir yet but let us first set up the office. There are many of our members who are investors in Kashmir and we look forward from their inputs,” Baru said.

Finance Minister Haseeb Drabu has welcomed FCCI’s decision to set up its maiden office in Srinagar.

Drabu, who had addressed the 90th Annual General Meeting of FICCI in December, 2017, on Thursday said 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," Drabu said.

To enhance efficiency and global competitiveness of J&K Sports and to expand opportunities both in domestic and foreign countries, J&K State Sports Council had engaged with FICCI as knowledge partner for drafting sports policy of the state and to create job opportunities in the state.

This site uses cookies to deliver our services and to show you relevant news and ads. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Service.That's Fine