J&K’s MSME sector witnesses remarkable growth: LG   
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J&K’s MSME sector witnesses remarkable growth: LG   

 •          Invites industry leaders, potential investors to invest in J&K  •          Launches One Dist One Product Box of J&K UT •          Over 74,000 women-led SMEs thrive in J&K •          J&K's MSMEs register remarkable growth, 2.81 lakh registered in last 3 yrs

Post by RK News on Friday, August 11, 2023

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New Delhi, Aug 10:  Lieutenant Governor Manoj Sinha inaugurated the 9th India International MSME Expo and Summit 2023 in a grand ceremony held in New Delhi. 
The event, organized by the MSME Development Forum, was applauded by the Lt Governor for its dedication to fostering collaboration between policymakers and entrepreneurs in the Micro, Small and Medium Enterprises (MSME) sector, a crucial driver of India's economic growth.
In his address at the event, Lt Governor Sinha lauded the pivotal role of MSMEs in advancing Prime Minister Narendra Modi's visionary initiatives, such as 'Make in India' and 'Aatmanirbhar Bharat'. He emphasized the significance of platforms like the MSME Expo and trade fairs in disseminating awareness about government schemes and policies while also facilitating exploration of novel business prospects within the sector.
During the Expo, Lt Governor Sinha took the opportunity to outline key interventions undertaken by the administration of the Union Territory (UT) to bolster the growth of MSMEs in Jammu & Kashmir. He underlined the paramount importance of MSMEs in driving industrial development and fostering balanced progress. The Lt Governor expressed optimism about the results of the commitment to industries, Small and Medium Enterprises, and the provision of institutional support and infrastructure in the region.
Highlighting the remarkable potential of the MSME sector in Jammu & Kashmir, Lt Governor Sinha revealed that a substantial 2.81 lakh MSMEs had been registered on the Udyam portal over the past 3 years, signalling an impressive trajectory of growth within the sector. Noteworthy growth of micro and small units was observed in districts like Shopian, Pulwama, Anantnag, Baramulla, Kulgam, and Bandipora.
The Lt Governor also underscored the role of Small and Medium Enterprises in youth skilling, the promotion of the One District One Product (ODOP) initiative, and the thriving handicraft and handloom sector in J&K. He celebrated the transformative role of Micro & Small enterprises in driving socio-economic change for women entrepreneurs, with over 74,000 SMEs being run by women in the region.
Lt Governor Sinha extended an invitation to industry leaders and potential investors, encouraging them to consider investment opportunities in Jammu & Kashmir. He highlighted the new industrial development policy, offering enhanced incentives, support for expansion, and avenues to explore emerging possibilities in Tourism, Information Technology Enabled Services, Agriculture & Allied Sectors.
As part of its commitment to the promotion of MSMEs, the UT Administration has increased the total procurement of Government Departments and Public Sector Undertakings from MSMEs to 25 per cent.
In a significant moment during the event, Lt Governor Sinha unveiled the One District One Product (ODOP) Box of J&K UT. He shared the vision of developing all districts of J&K as export hubs and endeavors to take the recently launched ODOP Box to the global market.
The 9th India International MSME Expo and Summit 2023 witnessed participation from more than 40 exhibitors, supported by JKTPO, who showcased their innovative products, services, and solutions across diverse sectors. Lt Governor Sinha visited these stalls, engaging with MSMEs and other stakeholders to explore the array of local products from Jammu and Kashmir.
Distinguished attendees at the event included Rajnish Goenka, Chairman of MSME Development Forum; Alexander Rybas, Trade Commissioner of the Russian Federation in India; Dr. Deepak Vohra, Indian Diplomat; Dr. Sharad Kohli, National Board member of MSME Development Forum, along with foreign and domestic business delegates, investors, entrepreneurs, and representatives of MSMEs.
Kashmir becoming mini-Europe: LG  
Lieutenant Governor Manoj  Sinha Thursday said that in the last four years a lot has changed as Kashmir is becoming a mini-Europe while night life has returned to the Valley after so many decades.
Addressing 9th India International MSME Expo and Summit 2023 in New Delhi, the LG, as per news agency—Kashmir News Observer (KNO) said that many people question as to 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 sun set,” the LG said. He said that street violence, Pakistan sponsored terror, terrorism, separatism, closure of schools for 150 days a year is a history now.
“Cinemas are functioning normally and people are enjoying the night life. Youth could be seen going home late night with guitars and ice-creams in their hands,” the LG said.(KNO)

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