Jammu biz men seek CM's intervention in revival of ailing MSME sector

A body of industrialists on Thursday sought the intervention of Jammu and Kashmir Chief Minister Omar Abdullah to ensure revival of the MSME (micro, small and medium enterprise) sector of the Union Territory. Jammu-based Federation of Industries (FOI) hailed the formation of the National Conference-led government in Jammu and Kashmir and congratulated Abdullah and his cabinet colleagues. FOI chairman Lalit Mahajan said the industrial fraternity of Jammu has a lot of expectations from the new government and hopes it will ensure revival and strengthening of the MSME sector. He said the existing MSMEs, mostly run by the sons of the soil, are suffering due to dilution of fiscal incentives and stiff competition from new units being established under the New Central Sector Scheme (NCSS). In his meeting with the chief minister, Mahajan highlighted long-pending issues related to the existing MSME units, and asked for fiscal incentives for the next 10 years. He also urged the government to