Union Minister Piyush Goyal on Sunday (July 6) acknowledged that he would advocate lowering the Items and Providers Tax (GST) on handicrafts and handloom merchandise to assist the sector in Jammu and Kashmir.
The minister acknowledged that the matter was raised by a number of delegations on the FTII: Merchants Conclave – 2025 in Srinagar.
Goyal suggested them to submit a proper request to the Finance Ministry and guaranteed them that efforts can be made to cut back the GST fee on these things from 12 per cent to five per cent.
This step would assist in the promotion of handicraft and handloom industries, notably in Jammu and Kashmir, the minister mentioned.
In a separate replace on social media platform X, Goyal acknowledged that he had held an in depth dialogue with the MSME Improvement Discussion board of Jammu and Kashmir. They mentioned varied strategies to strengthen native companies, together with steps to enhance the competitiveness of MSMEs, simplify enterprise processes, and higher join them to nationwide provide chains.
He additionally met with members of the Kashmir Chamber of Commerce and Business to debate methods to empower native industries, promote financial progress, and create a extra business-friendly setting.
Moreover, the minister met with representatives of the Jammu-Kashmir Fruits and Vegetable Processing and Built-in Chilly Chain Affiliation (JKPICCA) in Srinagar. He mentioned they mentioned methods to assist industrial growth within the chilly chain and agro-processing sectors, that are essential for strengthening the area’s agricultural economic system and growing exports.
Listed here are highlights of what the minister mentioned on the occasion:
- There’s a have to arrange packaging items that use fashionable designs and applied sciences to advertise native merchandise similar to handicrafts, horticulture gadgets, pashmina shawls, and handlooms extra successfully.
- The Centre of Excellence for Packaging and Design will quickly be established in Jammu and Kashmir.
- Requested officers to work with the Indian Institute of Packaging to start a challenge centered on enhancing the standard of packaging and design. An appropriate location for this centre is at the moment being recognized.
- Would converse with NTPC and the Photo voltaic Power Company to discover the opportunity of establishing photo voltaic lighting or energy technology amenities within the area. This initiative would assist producers label their items as eco-friendly, probably permitting them to earn higher costs in worldwide markets.
- There are discussions about establishing one other Centre of Excellence geared toward enhancing storage know-how, chilly chain infrastructure, and supporting new startups and entrepreneurs.
