Srinagar, Jan 23: The PHD Chamber of Commerce and Industry (PHDCCI) – Kashmir Chapter, today submitted a visionary set of pre-budget recommendations to the Hon’ble Chief Minister of Jammu & Kashmir. The delegation, spearheaded by Mr. Himayu Wani, Co-Chair, and Iqbal Fayaz Jan, Deputy Director, presented a detailed roadmap designed to unlock investment, empower local businesses, and accelerate sustainable development.

The comprehensive proposal focuses on three critical pillars: providing urgent relief to businesses navigating post-2019 challenges, radically simplifying regulatory frameworks, and directing strategic investments into high-potential sectors like Tourism, Information Technology, and MSMEs.
Key Recommendations for a Resilient J&K Economy:
Credit Score Relief from RBI: Advocate for a one-time relaxation in credit scoring norms for entrepreneurs impacted since 2019, seeking the UT administration’s intervention with the Reserve Bank of India.
Rationalization of CLU (Change of Land Use): Streamline land-use change procedures to fast-track investment approvals and project implementation.
Extension of J&K New Central Sector Scheme (NCSS): Urge the Government of India to extend the scheme’s registration window and enhance funding to capitalize on pending investor interest.
Adequate Budget for J&K Industrial Policy 2021–30: Ensure timely and sufficient fund allocation for effective policy execution, focusing on infrastructure, subsidies, and job creation.
Government Purchase Preference for Local MSMEs: Mandate all UT departments and PSUs to procure a minimum of 30% of their annual purchases from local MSMEs, supported by a revised market linkage mechanism.
Plug and Play Tech Center for IT: Establish a ready-to-use tech center with subsidized utilities to attract major IT companies, leveraging defunct buildings or new infrastructure in exchange for local youth employment commitments.
Homestay and Tourism Incentives: Adopt a subsidy model akin to Meghalaya (PMEGP 30% UT 30%) to promote homestays, tour operators, and culinary startups, boosting rural and community-based tourism.
Exhibition and Marketing Support: Allocate funds to JKTPO to sponsor MSMEs and artisans for national/international fairs and support industry bodies in organizing expos to showcase J&K’s products globally.
Boarding School Investments: Encourage private investment in boarding schools, following successful models in Uttarakhand and Himachal Pradesh, to enhance educational infrastructure and attract students nationwide.
Service Sector Land Allotment at Medicity: Propose reserving a portion of land within Medicity for the broader service sector to ensure optimal utilization and diversified investment.
Speaking on the submission, Himayu Wani, Co-Chair of PHDCCI Kashmir, stated, “Our recommendations are a balanced blend of immediate relief and long-term strategy. We have proposed concrete measures—from credit relief and easier land rules to strong support for local MSMEs and tourism—that we believe will significantly improve the ease of doing business, foster homegrown entrepreneurship, and generate widespread employment, setting J&K on a path of robust and resilient economic growth.
The chamber expressed confidence that the adoption of these recommendations in the upcoming budget will provide a substantial impetus to the region’s economic revival and inclusive prosperity.