Executive Council of Indian Chambers projects issues
May 17, 2025
JAMMU: The Executive Council of the Indian Chamber of Commerce (ICC), Jammu, convened a meeting under the leadership of Rahul Sahai, Chairman ICC Jammu to discuss the grave challenges faced by industry, trade and civil society during these unprecedented times of conflict and instability in Jammu & Kashmir.
The meeting began with a solemn two-minute silence in the memory of the brave security personnel, civilians, and all those who lost their lives in the barbaric attack in Pahalgam.
The Council members unanimously saluted the courage and determination of our Armed forces and the strategic leadership of the Prime Minister of India for steering the country through this difficult phase.
The Council appreciated the proactive engagement of Lt Governor Manoj Sinha and Chief Minister Omar Abdullah, both of whom have remained in constant touch with industry, trade, and civil society stakeholders.
Sahai informed that the LG had assured full support and accessibility to the public during his pre-war meeting at Raj Bhawan. Chief Minister Omar Abdullah, demonstrating remarkable commitment, travelled by road from Kashmir to Jammu during the conflict to meet civil society members and discuss necessary interventions.
ICC shared vital recommendations for activation of key services such as the Information Department, Medical and Fire Services, Blood donation camps, and support at Primary Health Centres. Council applauded acts of both leaders who visited several affected border areas to assess ground realities.
The meeting detailed the devastating fallouts of the war, including damage to homes and displacement of families in border areas; shutdown of businesses, grounding of flights, and stoppage of trains; panic-driven labour exodus leading to closure of establishments; collapse of tourism, near-zero business activity and income; banks threatening to block credit limits and classify loans as unsecured; regular interest charges despite ongoing crisis; late GST refunds and pending payments from Government departments and no insurance cover for properties under if the "Act of War" clause applies.
In light of these challenges, the Council urged the Finance Minister of India to provide a special financial assistance package to Jammu & Kashmir. Council also sought relief in power sector, MSME support, release of GST refunds etc.
