Srinagar, Oct 5: Earlier we have worked with subsidies and interest subventions. It important to create securities in terms of pension schemes. Entrepreneurship is based on risks. The tax exemptions, fiscal incentives, subsidies doesn’t prepare you either for competition or long term sustainability.
Our most profitable business like handicrafts especially carpets have no competition or our horticulture. But every business here is in crises. For every Small scale industry in J&K is being driven by tax incentives. At some stage we have to build a viable, sustainable business models. No radical transformation has been made in past. (GNS)