The KCCI-SGCCI pact raises hopes of a global foray for Kashmir Inc

Srinagar, May 5: A day after the Kashmir Chamber of Commerce and Industry (KCCI) and the South Gujarat Chamber of Commerce and Industry (SGCCI) signed a crucial Memorandum of Understanding (MOU), Kashmir’s business leaders are hopeful that the cooperation will boost the economy. Valley’s horticultural exports and economy.

Speaking to Greater Kashmir, KCCI President Javid Tenga expressed optimism that the agreement will significantly benefit the Rs 13,000 crore fruit sector by improving market accessibility through SGCCI’s global presence.

“SGCCI has assured us that they will help bridge the market access gap for our fruit products,” Tenga said. “With their global reach, this pact could unlock new opportunities for our horticulturists.”

The MOU also aims to facilitate increased tourism and trade between the two regions. Tenga revealed that SGCCI has agreed to introduce two daily direct flights between Gujarat and Kashmir, a move that is expected to strengthen tourist inflows as well as business ties.

Moreover, the chambers are exploring potential joint ventures in the education sector to stem the outflow of capital as students from Kashmir travel outside the region for higher and professional studies.

“Every year we witness a capital flight of around Rs 2,500 crore as students pursue education elsewhere,” Tenga noted. “This collaboration could pave the way for quality local education options.”

As the contours of the partnership take shape, industry leaders in Kashmir are cautiously optimistic about the economic prospects offered by this inter-regional synergy with business powerhouse Gujarat.

KCCI and SGCCI signed a Memorandum of Understanding (MOU) at the KCCI office in Srinagar on Friday. The MOU was signed at a special executive meeting of the KCCI and SGCCI office bearers, graced by the presence of Commissioner Industries and Commerce, Vikramjit Singh, as chief guest, and Mehmood Ahmad Shah, Director of Handicrafts, Kashmir.

The Presidents, Javid Ahmad Tenga (KCCI) and Ramesh Vaghasia (SGCCI), signed the MOU on behalf of their respective chambers, paving the way for mutual cooperation in boosting trade activities, exchange of trade delegations and participation in trade fairs and exhibitions.

The MOU outlines provisions for effective consultation, cooperation and exchange of information on trade. Both chambers jointly organize conferences, meetings, seminars, workshops and presentations for their members to strengthen trade and explore new trade opportunities.

They exchange information on the economy, trade, publications, trade regulations, industrialization, economic legislation and business practices maintained within their respective chambers, expanding cooperation and support where necessary.

Highlighting the importance of the MOU, the SGCCI Chairman stated that under GLOBAL CONNECT MISSION it would open 84 doors for KCCI to connect with 84 Chambers of Commerce in India and 84 Chambers abroad, 84,000 entrepreneurs in India and 84,000 entrepreneurs abroad, and 84 embassies. in India, and 84 embassies of foreign nations in India.