J&K SICOP

Incorporated on November 28, I975 as a fully owned J&K Government Undertaking under the Indian Companies Act 1956. J&K Small Scale Industries Development Corporation Limited (SICOP) has authorized share capital of Rs. 100.00 crore and paid up capital of Rs. 89.91 crore. Main objective of SICOP is promotion and development of the Small Scale Industries in the State of Jammu & Kashmir.

Functions of SICOP are -

• - To provide infrastructural facilities in the form of developed Industrial Estates for MSMEs.
• - To provide Marketing Cover to the products being produced by the local industry in the J&K.
• - To provide various types of raw materials to the industrial units/Govt. Departments;
• - To undertake various developmental works “called deposit works” of various Government    departments/organization;
• - To provide testing facility to the products being manufactured by the local industry in the J&K.
• - To provide IT enabled service to cater IT requirement of Industries & Commerce Department to carry forward    the business reforms besides other Govt./Semi Govt. Departments/Agencies

SICOP is profit earning organization and is not receiving any budgetary support from the government. All the Revenue Expenditures are being generated internally and has no statutory/ non-statutory liability as on date. During the financial year 2018-19, SICOP has achieved turnover of Rs 684.39 Crore with cash surplus of Rs 5.88 crore. During financial year 2019-20 (ending 3rd Quarter), SICOP has achieved turn over of Rs 507.57 crore against target of Rs 700.00 crore with cash surplus of Rs 4.43 Crore

• - Consignment cum Handling Agents of Steel Authority of India (SAIL) in Kashmir
• - Consignment Agent of M/S. Reliance India Limited (RIL) in J&K for distribution of Plastic Granules.
• - Consignment Agent of Bharat Petroleum in J&K for distribution of Bitumen.
• - Nodal Agency for providing SAIL/ TISCO/ RASTRIYA ISPAT material to all Govt. Departments of J&K.
• - Nodal Agency of Coal India Limited (CIL) for distribution of Coal to brick kiln units.
• - Implementing Agency for setting up of Raw Material Bank (RMB) Scheme of Ministry of Textiles Government    of India for procurement of Raw Pashmina from Ladakh and its sale among the artisan/ viewers.