A delegation of garment manufacturers from Ludhiana city will soon meet LG Manoj Sinha to hold talks about setting up industrial projects in Jammu Kashmir.
A report by Times of India, quoting businessmen, said, “In view of incentives provided by the Centre to set up industries in Jammu Kashmir, the cost of production will be very low as compared to Punjab.”
Harish Dua, president of Knitwear and Apparel Exporters Organisation, said, “Our delegation is soon going to meet the LG and senior officials of industries and commerce department of J&K to hold discussions about setting up Jammu Kashmir. J-K is offering unmatched incentives to the industry, including 30% state capital investment subsidy, up to 5% interest subsidy on working capital, reimbursement and freight refund scheme.”
“Even if we are able to avail 3-4 incentives out of these after setting up new garment units there, our cost of production would be significantly lower as compared to our units in Punjab. Besides, the overall situation in Punjab is not so good at this moment because of which every industrial sector is eyeing expansion in other states. In such a situation, J&K is best alternative for us,” Dua added.
Atul Saggar, general secretary, Apparel Manufacturers Association Ludhiana, “Under the incentive package offered by Centre to investors in J&K, up to Rs 5 crore is being offered under central capital investment incentive for access to credit. Besides, investors can also avail reimbursement of Centre’s share of GST. In addition to these, the incentives of J-K admin combined will result in huge reduction in cost of production of garment units based in J-K as compared to Punjab.”