Srinagar, Feb 15: The various trade bodies across Kashmir on Monday welcomed the doing away of NOCs and other measures taken by the UT administration for increased ease of investment and business.

Heads of various trade bodies, while talking to Rising Kashmir, welcomed the changes in the rules.

While talking to Rising Kashmir, President of the Federation of Chambers Industries Kashmir (FCIK) Shahid Kamili said: “The structural changes in the process of registration will definitely help in laying a new foundation for creating a long desired entrepreneurial-conducive atmosphere along with other required measures.”

Kamili however said that only easing the process of registration might not be able to reverse the perilous state of the economy in Jammu and Kashmir, and that only a slew of other measures would supplement the ease of doing business in J&K. "The measures that require to be taken include marketing support, capital infusion, liquidity crunch, rehabilitation of sick industry, OTS schemes etc.”

Spokesperson of the Kashmir Traders and Manufacturers Federation (KTMF), Farhan Kitab said that this was a positive sign, but expressed curiosity about the existing “sick industries” which have been incurring losses from the last two and half years owing to back to back lockdowns.

“The new industrial policy is fine to maintain a sustained growth in productivity and enhance gainful employment, but the government should provide capital infusion and relief packages to revive the sick industries in J&K,” he said.

President, Kashmir Youth Entrepreneurs Federation, Babar Chowdhary said that it was their long pending demand. “We welcome this new industrial policy, but only if it is implemented 100 per cent.  We have witnessed announcements of many policies in the past which were launched but were not implemented fully. This would be a good step if implemented properly,” he said.

President of the Kashmir Chamber of Commerce Industries (KCCI), Sheikh Ashiq, while talking to Rising Kashmir, said that they also welcome the move. “But one needs to see whether the policy is implemented on ground, as previously entrepreneurs had to run from one office to another.

“Let our local entrepreneurs take the lead and start working on their projects as the government has eased a lot of work by creating a single window and we pray that the policy is implemented in letter and spirit,” he said.