KCCI demands special OTS scheme for distressed businesses

Javid Tenga led delegation meets CM, discusses trade issues 
Srinagar, Oct 29: A high-level delegation from the Kashmir Chamber of Commerce and Industry (KCCI), led by President Javid Ahmad Tenga, met Chief Minister Omar Abdullah at the Civil Secretariat, presenting a comprehensive reform agenda addressing critical challenges across Kashmir’s economic sectors.

The KCCI Executive Committee submitted a detailed memorandum highlighting the steep decline in handicraft exports, proposing the creation of district-specific clusters, upgrading GI-related infrastructure, and expanding the Craft Development Institute’s capabilities. The Chamber emphasized the need for a separate ITC code for Kashmiri handicrafts, reduced GST rates, and an international expo mart to revive the sector.
In the tourism sector, the delegation advocated for streamlining tourism registration licenses for hotels, houseboats, and restaurants. They proposed installing common sewage treatment plants and solid waste management systems at major tourist destinations, while pushing for the implementation of the 2012 Cabinet order promoting sustainability. The memorandum also addressed the need for promoting MICE tourism and adventure tourism opportunities, alongside rationalizing service charges for the hotel industry.
The horticulture sector received significant attention, with KCCI requesting its categorization as a priority lending sector. The delegation sought structured land allotment policies, diversification of CA infrastructure across North and Central districts, and promotion of crop diversification, emphasizing the need for crop insurance solutions and solar power adoption.
Industrial sector reforms dominated a substantial portion of the discussion, with KCCI advocating for simplified industrial policies, timely disbursement of turnover incentives, and efficient implementation of the New Central Sector Scheme for Jammu and Kashmir. The Chamber stressed the importance of establishing a cost equalizer mechanism and addressing challenges related to the Gem Portal.
A significant focus was placed on financial relief, with KCCI demanding a special One-Time Settlement scheme from J&K Bank without restrictions. The delegation requested restraint on publishing defaulters’ names and e-auction notices until the special OTS is announced, while also advocating for power amnesty for commercial consumers.
Environmental concerns featured prominently in the discussions, including wetland conservation, the impact of deep riverbed mining, and disaster management preparedness. The delegation also raised issues regarding market parking shortages, Smart City project completion, and the rising drug addiction crisis.
Chief Minister Omar Abdullah assured the Chamber of his administration’s commitment to supporting trade and commerce growth in the region. He announced that review meetings would be held every three months to monitor progress on the issues raised. The KCCI President expressed gratitude for this first opportunity to meet with the current administration, marking a significant step toward addressing the region’s economic challenges.
The meeting concluded with both parties expressing optimism about future collaboration and the potential for positive changes across Kashmir’s economic landscape. The comprehensive nature of the discussions reflected KCCI’s broad mandate in representing the interests of Kashmir’s business community across multiple sectors.