The Jammu Confederation of Industry has asked Prime Minister Narendra Modi and Union Minister of Trade and Industry Piyush Goyal for reimbursement of road freight from Jammu and Kashmir to the nearest ports to encourage exports of manufactured goods to other countries.
Jammu Industry Confederation Chairman Lalit Mahajan conveyed congratulations to the Prime Minister and Union Minister for Trade and Industry on record exports of goods and services of US$770 billion in 2022-23.
While highlighting the issue, Mahajan drew the attention of the Prime Minister and Minister of Trade and Industry to the limited growth in exports of manufactured goods to other countries, which is only Rs 17.30 crores USD until January 2023 due to additional freight costs involved in importing Raw materials and finished goods export by road to ports due to strong competition from manufacturing bases near ports as Jammu and Kashmir’s industrial sector faces the problem due to location disadvantages and hostile borders with China and Pakistan.
It is important to mention here that there is a wide scope for exporting goods from the Union Territory of J&K to other countries, however, due to the unavailability of financial support for reimbursement of road freight to the nearest ports, as the shareholders are unable to compete in the international market and it is the need of the hour to incentivize road freight transport to the nearest port under the Make In India, Make for World Export Incentive scheme.
The FOIJ requested the Prime Minister of the Union for Trade and Industry to grant the tax incentive in the form of road freight reimbursement to industrial entities in J&K for exporting goods to the nearest port in order to encourage the export of manufactured goods to other countries.