At ICC’s MSME Conclave, LG says Govt committed to extend all possible support for J&K’s industrial growth

18 March 2025

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JAMMU: Lieutenant Governor Manoj Sinha today addressed the MSME Conclave 2025, organised by Indian Chamber of Commerce, in Jammu.

In his inaugural address, the Lieutenant Governor welcomed the Entrepreneurs, Bankers, Investors, Industry Leaders and Experts to explore the opportunities in the MSME sector and foster strategic collaborations during the conclave.

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

“Under the leadership of Hon’ble Prime Minister Shri 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. This number shows MSMEs are playing 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. This year’s budget by the central government will give new hope and momentum to MSMEs,” the Lieutenant Governor said.

The Lieutenant Governor spoke on the key reforms in the MSME sector sweeping through the UT of Jammu Kashmir. He reiterated that the Government of India is committed to extend all the possible support to facilitate J&K’s Industrial growth.
The Lieutenant Governor said, “We have created 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.

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

He said, 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 have infused new hopes for the MSME sector of Jammu Kashmir.

The Lieutenant Governor 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 Central Government has put in immense efforts for the industrial growth of J&K and this journey must continue without any hurdles for the benefit of people of the Union Territory.

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

He called upon the policy makers, industry leaders and stakeholders to focus on important aspects like marketing, brand-building, infrastructure creation and availability of raw material. Apart from exports, MSMEs should also focus on PV Cells, EV Batteries and Electric Equipment for the domestic market, he added.

Big dreams of developed India are growing in small enterprises. Considering the export volume of MSMEs and its contribution of about 30% to GDP, the progress of this sector should be prioritized, the Lieutenant Governor said.

Vikramjit Singh, Commissioner Secretary, Industries and Commerce Department J&K; Rahul Sahai, Chairman, IIC Jammu Chapter; Debmalya Banerjee, Regional Director, Indian Chamber of Commerce; Dr Arun Kumar Manhas, Director, Industries & Commerce Department Jammu, senior officials, members of Indian Chamber of Commerce, young Entrepreneurs, Bankers, Investors, Industry Leaders and Experts were present.