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

A team of  ASSOCHAM delegation met the parliamentary standing Committee of Commerce, led by Member Parliament, V Vijayasai Reddy in Leh on August 28.

The delegation comprised of Gourav Mahajan, Regional Director, ASSOCHAM North, and Amit Khajuria, Assistant Director, ASSOCHAM J&K, Ladakh accompanied by Gelek Phunchok, a local young entrepreneur.

Gourav Mahajan, Regional Director, ASSOCHAM North said, “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,”

“Ladakh has a lot of potentials, 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.

ASSOCHAM also informed the committee that Ladakh has a lot of exclusive products which need to be showcased and promoted on national and international platforms.

Amit Khajuria, Assistant Director and state Head for J&K, Ladakh said, “To promote the exclusive products from Ladakh like Pashmina, apricot, seabuckthorn, etc. Ladakh needs a dedicated Trade promotion Organisation on the Line of the J&K Trade Promotion Organisation (JKTPO). Such organisation can help local entrepreneurs to take the Ladakhi products to international markets.”

“Most of the entrepreneurs of Ladakh are first-generation entrepreneurs, the labour is not skilled, and they are lacking exposure. Government should organise some skill development programmes in Ladakh so that they can produce the best quality products at competitive rates,” he added.

ASSOCHAM also suggested Subsidy/ Concession on Freight as it is a landlocked UT with very difficult terrain and most of the products are being exported and imported by air only.