Hotline: 1800 102 2007
X
Search Business Opportunities
2014-09-25

J&K govt seeks I-T exemption for handicraft, handloom sector

Sajad Kitchloo also demanded release of financial assistance to the tune of Rs 100 crore to the state for handicraft and handloom sector.

The Jammu and Kashmir government today sought income tax exemption for handicraft and handloom sector for at least two years in view of the damage caused by devastating floods in the state, says a PTI report.

 

The demand was made by Minister of State for Industries and Commerce Sajad Kitchloo at the Textiles Ministers' Conference at Delhi, an official spokesman said.

 

"In order to provide succor to the handicraft and handloom sectors in the state, Kitchloo proposed grant of exemption from payment of income tax for the next two to three years," the spokesman said.

 

Kitchloo also demanded release of financial assistance to the tune of Rs 100 crore to the state for handicraft and handloom sector.

 

The Minister highlighted the difficulties faced by the artisans and other stakeholders in Jammu and Kashmir following large scale devastation caused by the recent floods.

 

Kitchloo expressed gratitude to the Prime Minister and the Union Home Minister as well as other senior Ministers of the Union cabinet who visited the State at the height of the calamity and offered substantial support to the state government.

 

Apprising the Union Textile Minister about the massive damage caused to the government and private industrial infrastructure and property, he said thousands of artisans and weavers whose assets like looms, raw material, processed and finished goods have been damaged or completely destroyed have been rendered jobless.

 

The State Industries Minister also informed the gathering that the handicrafts and handloom exports from the state brings into the state about Rs 2,000 crore annually, which is next only to Tourism and Horticulture sectors of the state.

Related opportunities
  • Bars, Pubs & Lounge
    About : “Retox – The Social Fix” is a brand that..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Kids Entertainment Zones
    About Us: Little Kickers is UK’s biggest and most successful pre-school..
    Locations looking for expansion Oxon
    Establishment year 2002
    Franchising Launch Date 2002
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Blewbury Oxon
  • Preschools
    About Us: NO REVENUE SHARING MODEL, LOW INVETSMENT AND RISK, HIGH..
    Locations looking for expansion Haryana
    Establishment year 2010
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Ice creams & Yogurt Parlors
    About: Berrylicious is a fast growing chain of ice cream parlors..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts