Site icon JK Newsline

ASSOCHAM proposes UT level Line of credit for Ladakh Industry

The Associated Chamber of Commerce and Industry of India (ASSOCHAM) today proposed UT level line of credit/winter loan for Ladakh industries and setting up Ladakh Trade Promotion Organisation (LTPO) on the line of JKTPO.

The ASSOCHAM delegation comprise of Mr. Gourav Mahajan, Regional Director, ASSOCHAM North and Mr. Amit Khajuria, Assistant Director, ASSOCHAM J&K, Ladakh accompanied with Mr Gelek Phunchuk, a local young entrepreneur today met the parliamentary standing Committee of Commerce, led by Hon’ble Member Parliament, Mr. V Vijayasai Reddy at Leh on Friday.

“Ladakh is a place which remains shut for almost six months and the manufacturers of this UT cannot sell their products in the market during that period. They need some financial support like line of credit or winter loan for this period at a lesser rate of interest, so that they can buy raw material by September-October and sell their products in the market in March-April,’ said Gourav Mahajan, Regional Director, ASSOCHAM North.

“Ladakh has lot of potential, but the entrepreneurs of this newly formed UT need government’s handholding and more awareness campaigns on government schemes and policies, specifically during this transition phase.,” he added.

Exit mobile version