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India govt releases funds to boost J&K handicrafts

Feb '12
In its bid to boost the handicraft industry of Jammu & Kashmir, the Government of India has released a sum of Rs. 105 million for upgradation of 2000 conventional carpet looms in the State. This was announced by J&K Minister for Industries and Commerce, SS Slathia.

The Minister held a meeting with the members of the Kashmir Chamber of Commerce and Industry (KCCI) to workout the future course of action for development of trade and industry in the State.

Mr. Slathia presided over the meeting, which was attended by KCCI President Abdul Hamid Punjabi, SICOP Managing Director RK Razdan, Industries and Commerce Commissioner/Secretry Umang Narula, SIDCO Managing Director M Mauzam, JKI Managing Director Javed Iqbal, Handloom Development Department Director Chandra Gupta, Handicrafts Department Director Muzaffar Hussain and others.

The Minister also informed that the State government would soon begin its efforts to workout modalities for execution of the stimulus package for sick units under the Prime Minister's Task Force Programme. The Centre has approved a sum of Rs. 1 billion for the purpose and the State government would also contribute a matching share, he added.

The package, which is proposed to be implemented by J&K Development Financial Corporation, would prove to be of great help in providing a stimulus to industrial activities in the State, the Minister said, and urged the Industries and Commerce Department officials to start preparing a base for implementation of the stimulus package.

Fibre2fashion News Desk - India

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