Govt turning J&K into hub of entrepreneurial excellence: LG Sinha

Jammu, Mar 17: Lieutenant Governor Manoj Sinha Monday said that the government created an entrepreneurial ecosystem in Jammu and Kashmir to make it a preferred investment destination.

Addressing the MSME Conclave 2025, organised by the Indian Chamber of Commerce, in Jammu, LG Sinha said, “We have created an entrepreneurial ecosystem in J&K to make it a preferred investment destination. Thousands of units have become operational in the past few years and we are determined to take MSMEs growth to a new level, a growth that is inclusive and sustainable.”

In his inaugural address, he welcomed entrepreneurs, bankers, investors, industry leaders, and experts to explore opportunities in the MSME sector and foster strategic collaborations during the conclave.

The LG highlighted the pivotal role played by the Micro, Small, and Medium Enterprises (MSMEs) in shaping the economy, driving the country's manufacturing sector growth and boosting the 'Make in India' initiative.

“Under the leadership of Prime Minister Narendra Modi, the MSME sector has witnessed unprecedented growth and brought remarkable transformation to the Indian economy. MSMEs exports increased from Rs 3.95 lakh crore in 2020-21 to Rs 12.39 lakh crore in 2024-25,” he said. “This number shows MSMEs are playing a crucial role in strengthening global trade. If we look at three important aspects of socio-economic growth, then MSMEs have proved to be our backbone on all three - employment generation, entrepreneurship promotion, and economic development.”

LG Sinha said that this year's budget by the central government would give new hope and momentum to MSMEs.

He also spoke on the key reforms in the MSME sector sweeping through J&K and reiterated that the Centre was committed to extending all the possible support to facilitate J&K's industrial growth.

“For successful MSME ecosystem technology adoption, technology upgradation, innovation and skills development is the key,” the LG said. “We have taken steps to address issues constructively and I aim to establish J&K as a hub of entrepreneurial excellence and employment generation.”

He said that the speedy economic reforms, accessible credit facility, improved ease of doing business, attractive incentives, world-class facilities, new Procurement and Startup Policies, and many more such interventions had infused new hopes for the MSME sector of J&K.

LG Sinha also cautioned against irresponsible statements that may shake investors’ trust and confidence and create further hurdles in J&K’s journey towards a prosperous future.

He said that the centre had put in immense efforts for the industrial growth of J&K and this journey should continue without hurdles for the benefit of the people of J&K.

The LG laid special emphasis on scaling up the business and upgradation of Micro and Small units into Medium Enterprises.

He called upon the policymakers, industry leaders, and stakeholders to focus on important aspects like marketing, brand-building, infrastructure creation, and availability of raw materials.

“Apart from exports, MSMEs should also focus on PV Cells, EV Batteries and Electric Equipment for the domestic market,” LG Sinha said.

“Big dreams of developed India are growing in small enterprises,” he said. “Considering the export volume of MSMEs and its contribution of about 30 percent to GDP, the progress of this sector should be prioritised.”

Commissioner Secretary, Industries and Commerce Department J&K, Vikramjit Singh; Chairman, IIC Jammu Chapter, Rahul Sahai; Regional Director, Indian Chamber of Commerce, Debmalya Banerjee and Director, Industries and Commerce Department Jammu, Arun Kumar Manhas were also present on the occasion.