New Delhi- Lieutenant Governor, Manoj Sinha on Thursday invited industry leaders to invest in Jammu & Kashmir with an assurance that the new industrial development policy offers greater incentives, support for expansion and opportunity to explore emerging possibilities in tourism, ITeS, agriculture & allied sectors.
“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 after inaugurating the 9th India International MSME Expo and Summit 2023 here on Thursday.
Highlighting the immense potential of the MSME sector in J&K, the LG said as many as 2.81 lakh MSMEs have been registered on the Udyam portal in the last 3 years, reflecting the sector’s remarkable growth trajectory.
He said that districts like Shopian, Pulwama, Anantnag, Baramulla, Kulgam, and Bandipora are recording unprecedented growth of micro and small units.
“The number of new enterprises in small towns is growing faster and realizing the dreams of new entrepreneurs,” he added.
The LG 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 the UT.
“Micro & Small enterprises have also become a powerful medium for socio-economic change for women entrepreneurs. Today, more than 74,000 SMEs are being run by women in Jammu and Kashmir,” he said.
Extending an invitation to the industry leaders and the potential investors to invest in J&K, Sinha said that in the last four years a lot has changed as Kashmir is becoming a mini-Europe as night life has returned there after so many decades.
He also said that the new industrial development policy offers greater incentives, support for expansion and opportunity to explore emerging possibilities in Tourism, Information Technology Enabled Services, Agriculture & Allied Sectors, he said.
“For the promotion of Micro, Small & Medium Enterprises, the UT 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 said.
Lieutenant Governor said that many people question what has changed in Kashmir in the last four years. “Let me put it on record that Kashmir is becoming a mini-Europe. The night life has returned to a place where people were seen rushing to their homes just after sunset,” the LG said. He said that street violence, Pakistan sponsored terror, terrorism, separatism, closure of schools for 150 days a year is history now.
“Cinemas are functioning normally and people are enjoying the nightlife. Youth could be seen going home late at night with guitars and ice-creams in their hands,” the LG said.
Earlier, the LG commended the MSME Development Forum for its endeavours to bring together policymakers and entrepreneurs for the promotion of Micro, Small & Medium Enterprises.
“Micro, Small & 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.
“Initiatives such as MSME Expo, trade fairs provide an important platform to spread awareness about government schemes, policies and to explore new business opportunities in the sector, ” he added.
More than 40 exhibitors, supported by JKTPO, are participating in the 9th India International MSME Expo & Summit 2023, showcasing their innovative products, services, and solutions across diverse sectors.
LG also launched the One District One Product (ODOP) Box of J&K UT. He said all the districts of J&K are being developed as export hubs and efforts are being made to take the One District One Product Box launched today to the global market.
Rajnish Goenka, Chairman, MSME Development Forum; Alexander Rybas, Trade Commissioner of Russian Federation in India; Dr Deepak Vohra, Indian Diplomat; Dr Sharad Kohli, National Board member, MSME Development Forum, foreign and domestic business delegates, investors, entrepreneurs and representatives of MSMEs were present on the occasion.
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