Jammu: Jammu and Kashmir’s Lieutenant Governor, Manoj Sinha, on Monday cautioned against making “irresponsible statements” that may undermine investors’ trust and create obstacles for industrial growth in the Union Territory.
Addressing the Micro, Small and Medium Enterprises (MSME) Conclave, organised by the Indian Chamber of Commerce, he stated that the government has created an entrepreneurial ecosystem in Jammu and Kashmir over the past five years to make it a preferred investment destination.
“The Central Government has made immense efforts for the industrial growth of J-K, and this journey must continue without any hindrances for the benefit of the people of the Union Territory,” he said.
Without naming anyone, the Lieutenant Governor warned against “irresponsible statements” that could shake investors’ trust and confidence and create further obstacles in J&K’s journey towards a prosperous future.
In his inaugural address, Sinha welcomed entrepreneurs, bankers, investors, industry leaders, and experts to explore the opportunities in the MSME sector and foster strategic collaborations during the conclave.
He highlighted the pivotal role played by the MSME sector 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. MSME exports increased from Rs 3.95 lakh crore in 2020-21 to Rs 12.39 lakh crore in 2024-25. This figure shows that MSMEs are playing a crucial role in strengthening global trade,” he said.
He further stated, “If we look at three important aspects of socio-economic growth, MSMEs have proven to be the backbone in 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.”
Sinha spoke about key reforms in the MSME sector sweeping through Jammu and Kashmir and reiterated that the central government is committed to extending all possible support to facilitate J&K’s industrial growth.
“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 MSME growth to a new level — growth that is inclusive and sustainable.”
“For a successful MSME ecosystem, technology adoption, technology upgradation, innovation, and skills development are key. We have taken steps to address issues constructively, and my aim is to establish J-K as a hub of entrepreneurial excellence and employment generation,” he added.
He also noted that speedy economic reforms, accessible credit facilities, improved ease of doing business, attractive incentives, world-class facilities, new procurement and start-up policies, and many such interventions have infused new hope for the MSME sector in Jammu and Kashmir.
The Lieutenant Governor placed special emphasis on scaling up businesses and upgrading micro and small units into medium enterprises.
He called upon policymakers, industry leaders, and stakeholders to focus on important aspects like marketing, brand-building, infrastructure creation, and the availability of raw materials.
Apart from exports, MSMEs should also focus on PV cells, EV batteries, and electric equipment for the domestic market, he added.
He concluded, saying, “Big dreams of a developed India are growing in small enterprises. Considering the export volume of MSMEs and their contribution of about 30 percent to GDP, the progress of this sector should be prioritised.”
