LG invites industry leaders, potential investors to invest in J&K

New Delhi: Lieutenant Governor Manoj Sinha Thursday invited the industry leaders and potential investors to invest in Jammu and Kashmir.

An official spokesman in a statement issued here said that inaugurating the 9th India International MSME Expo and Summit 2023 in New Delhi, the LG invited the industry leaders and potential investors to invest in J&K.

“New industrial development policy of J&K offers greater incentives, support for expansion, and opportunity to explore emerging possibilities in tourism, Information Technology (IT)-enabled services, agriculture and allied sectors,” he said.

Sinha commended the MSME Development Forum for its endeavours to bring together policymakers and entrepreneurs for the promotion of Micro, Small and Medium Enterprises.

“Micro, Small and Medium Enterprises are accelerating India’s economic growth and powering Prime Minister Narendra Modi’s vision of ‘Make in India’ and ‘Aatmanirbhar Bharat,’” he said.

The LG said that initiatives like MSME Expo and trade fairs provide an important platform to spread awareness about government schemes, policies, and to explore new business opportunities in the sector.

At the expo, he shared the key interventions of the J&K administration to facilitate the growth of MSMEs in J&K.

“MSMEs are the backbone of industrial growth and equitable development. Our commitment to industries, Small and Medium Enterprises and institutional support as well as infrastructural facilities in J&K is showing results,” Sinha said.

Highlighting the immense potential of the MSME sector in J&K, he said 2.81 lakh MSMEs had been registered on the Udyam portal in the last 3 years, reflecting the sector’s remarkable growth trajectory.

The LG said that districts like Shopian, Pulwama, Anantnag, Baramulla, Kulgam, and Bandipora were recording unprecedented growth of micro and small units.

He said that the number of new enterprises in small towns was growing faster and realising the dreams of new entrepreneurs.

Sinha underscored the important role of Small and Medium Enterprises in skilling of youth, promotion of One District One Product (ODOP) and handicraft and handloom sector in J&K.

He said that Micro and Small enterprises had also become a powerful medium for socio-economic change for women entrepreneurs.

“Today, more than 74,000 SMEs are being run by women in J&K,” the LG said. “For the promotion of Micro, Small and Medium Enterprises, the J&K administration had also taken an important decision and increased the total procurement of government departments and Public Sector Undertakings from MSMEs to 25 percent.”

He also launched the One District One Product (ODOP) Box of J&K.

Sinha said that all the districts of J&K were being developed as export hubs and efforts were being made to take the One District One Product Box launched today to the global market.

More than 40 exhibitors, supported by JKTPO, are participating in the 9th India International MSME Expo and Summit 2023, showcasing their innovative products, services, and solutions across diverse sectors.

The LG visited the stalls installed by MSMEs and other stakeholders displaying local products from J&K.

Chairman, MSME Development Forum, Rajnish Goenka; Trade Commissioner of Russian Federation in India, Alexander Rybas; Indian Diplomat Deepak Vohra; National Board member, MSME Development Forum, Sharad Kohli were also present on the occasion.