BuzzBytes Srinagar, Jammu & Kashmir 15 December:
In a recent meeting with Smt. Reenu Lata, Economic Advisor at the Ministry of Commerce & Industry in New Delhi, the President of Kashmir Chamber of Commerce & Industry (KCCI), Javed Ahmad Tenga, raised crucial concerns and discussed progress on several key economic matters.
- Establishing Pre-export Pashmina DNA Lab at Srinagar:
The KCCI emphasized the urgent need for a Pre-export Pashmina DNA Testing Lab, as ordered by the Union Commerce Minister earlier in March. Despite the on-spot orders, the lab’s establishment has faced delays, affecting export schedules and risking job losses in the artisan community. - Establishment of Inland Container Depot (ICD) at Srinagar:
The KCCI reiterated its long-standing demand for an Inland Container Depot (ICD) in Srinagar to boost the movement of export cargo, especially in the context of the growing international demand for Kashmiri products. Despite orders for its establishment, progress seems to be slow. - ROSCTL (Reference of State Central Taxes Levies) for Handicrafts:
The KCCI addressed anomalies in the Foreign Trade Policy 2023-28, particularly regarding the cap on incentives for woollen and Pashmina shawls. The chamber urged for a separate HSN CODE to cover Value Added & Pashmina Shawls to ensure fair benefits for higher-priced products, which currently receive the same incentives as lower-cost items. - High Rate of GST on Shawls:
The KCCI advocated for a reduction in the Goods and Services Tax (GST) on artisan-dependent cottage shawl products, currently at 12%. The appeal, directed towards the Union Finance Ministry, aims to support the development and rehabilitation of artisans facing uncertainties.
The Economic Advisor acknowledged the concerns raised and assured prompt resolution, echoing the commitment expressed by the Union Commerce Minister earlier. The KCCI, appreciating the positive approach, thanked the Economic Advisor for her attention.
