Govt launches RAMP program to revive sick MSMEs in J&K

Srinagar, Mar 19: The Jammu and Kashmir government on Wednesday announced a series of initiatives aimed at reviving sick industrial units across the Union Territory, with a primary focus on the Raising and Accelerating MSME Performance (RAMP) program. The information was provided by Deputy Chief Minister and Industry and Commerce Minister, Surinder Choudhary, in response to a question raised by BJP MLA from Vijaypur (Samba) in the Legislative Assembly.
The Minister explained that the J&K Industrial Policy (2021-30), issued under Government Order No. 117-Ind of 2021, includes specific provisions for the rehabilitation of distressed industrial units. He also highlighted that the Ministry of Micro, Small, and Medium Enterprises (MSME) has established guidelines for early detection and structured revival of struggling businesses.
“These guidelines, in conjunction with the Framework for Revival and Rehabilitation of MSMEs issued by the Reserve Bank of India (RBI), form the backbone of our revival strategy,” Choudhary said during the session.
The department has laid key intervention in this effort is the RAMP program, which has been approved by the Ministry of MSME, Government of India, to support the survival and growth of MSMEs.
“The program aims to strengthen existing MSMEs through various measures, including MSME Udyam Registration, which formalizes businesses, and expansion of digital financing, providing easier access to credit,” it said.
The initiative also focuses on improving packaging and publicity for locally unique products under the Geographical Indication (GI) and One District One Product (ODOP) schemes, ensuring better market reach and branding.
To further facilitate business growth, the government has introduced buyer-seller meets, enabling MSMEs to connect directly with potential markets. A J&K MSME Health Clinic has also been set up to provide guidance and support to struggling units.
“Additionally, the program encourages the formation of MSME producer companies and associations for GI/ODOP/District as Export Hubs products, promoting collective business development. The initiative also includes Entrepreneurship Skill Development Programs (ESDP) to train and upskill business owners, along with management development programs aimed at enhancing the operational efficiency of existing MSMEs,” it said.
To ensure proper implementation, a J&K RAMP Monitoring and Evaluation (M&E) Dashboard has been introduced, allowing authorities to track progress and measure the effectiveness of interventions. This digital tool will help in identifying bottlenecks and ensuring that the support reaches the intended beneficiaries efficiently.
In addition to these measures, the Government of Jammu and Kashmir has constituted a high-level committee in April 8, 2024. This committee, chaired by the Principal Secretary, Finance Department, will oversee the implementation of the One-Time Settlement (OTS) scheme, in line with RBI guidelines.
“The OTS initiative aims to provide financial relief to sick industrial units by restructuring loans and offering a streamlined settlement process. We are committed to strengthen the industrial sector in J&K, ensuring that failing MSMEs receive the necessary support to recover and contribute to economic growth,” Minister informed the house.