On Thursday, New Delhi’s Lieutenant Governor Manoj Sinha extended an invitation to Jammu and Kashmir’s business elite and prospective investors.
In a statement released from here, an official spokesperson said that the LG has urged industry leaders and prospective investors to invest in J&K at the opening of the 9th India International MSME Expo and Summit 2023 in New Delhi.
He said that the state of Jammu and Kashmir’s new industrial development programme provides increased incentives, support for growth, and the chance to investigate uncharted territory in the fields of tourism, IT-enabled services, agriculture, and associated industries.
Sinha lauded the efforts of the MSME Development Forum to facilitate communication between policymakers and business owners for the benefit 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.
According to the LG, events like the MSME Expo and trade fairs serve as a crucial stage for disseminating information about government programmes and policies and discovering new avenues for economic growth.
While there, he discussed the state government’s initiatives that have helped micro, small, and medium-sized enterprises (MSMEs) flourish in J&K.
Small and medium-sized businesses (SMBs) drive economic expansion and promote social justice. Sinha said that the state of Jammu and Kashmir was finally beginning to reap the benefits of the government’s investment in the industrial sector, SMEs, and related institutions, as well as infrastructure.
He said that 2.81 lakh micro, small, and medium-sized enterprises (MSMEs) have registered on the Udyam site in the previous three years, which is indicative of the sector’s exceptional development trajectory and the enormous potential of the MSME sector in J&K.
Shopian, Pulwama, Anantnag, Baramulla, Kulgam, and Bandipora are among the areas where the LG has seen an increase in the number of micro and small businesses.
He said that new businesses were sprouting up at a greater rate in smaller cities, making good on the hopes of aspiring business owners.
Sinha emphasised the significance of SMEs in J&K’s handicraft and handloom industry, youth skill development, and promotion of One District One Product (ODOP).
He said that women business owners now have a potent new tool at their disposal to effect social and economic change because to the emergence of micro and small firms.
In 2018, the LG of J&K said that women owned and operated over 74,000 small and medium sized enterprises. “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 introduced the J&K ODOP (One District, One Product) Box.
Sinha said that all J&K districts were being established as export centres, and that the One District One Product Box that was shown today will be exported across the world.
More than 40 exhibitors are presenting cutting-edge goods, services, and solutions across a wide range of industries at the 9th India International MSME Expo and Summit 2023, which is sponsored by JKTPO.
The LG toured the booths set up by MSMEs and other J&K stakeholders to showcase their wares.
Attendees included MSME Development Forum Chairman Rajnish Goenka, Russian Federation Trade Commissioner Alexander Rybas, Indian Diplomat Deepak Vohra, and MSME Development Forum National Board Member Sharad Kohli.
