Srinagar, Mar 2: Lieutenant Governor Manoj Sinha on Wednesday emphasised that peace and stability are the foundational pillars for the region’s progress, including its economic development, business growth, and tourism.
Addressing the ongoing challenges and future aspirations for Jammu and Kashmir (J&K), Sinha stressed that no industry, investment, or tourism can thrive without lasting peace. “The future of J&K is intrinsically linked to the peace and stability in the region,” he stated, reaffirming that efforts to disrupt harmony would not succeed.
Sinha, speaking at a NITI Aayog workshop on MSME investment, innovation, and industry promotion at IIM Jammu, highlighted the critical role of the Micro, Small, and Medium Enterprises (MSME) sector in driving the region’s economic growth. He urged for continued efforts to create a conducive environment for entrepreneurship, ensuring that peace directly contributes to the region’s economic prosperity.
During his address, Sinha pointed out that J&K is home to over 7 lakh MSMEs, including 5 lakh micro-enterprises, which provide employment to more than 11 lakh people. However, he emphasised that J&K’s contribution to the national MSME sector is only 1.19%, with the region’s share of MSME-generated employment standing at just 0.99%. “This gap needs urgent attention through structural reforms and policy support, particularly in key sectors such as textiles, food processing, and tourism,” he remarked.
He also cited the example of Switzerland, a country that has successfully transformed its MSME sector. “Switzerland’s MSME policies, particularly in agriculture and food processing, and its focus on digital transformation, could serve as a model for J&K. If we replicate these practices here, we can expand market access and boost competitiveness for our MSMEs,” Sinha said.
Acknowledging the challenges faced by J&K’s traditional sectors such as handloom, handicrafts, and food processing, he emphasised the need for targeted policy interventions. “These industries were hit hard by COVID-19, but new initiatives like e-commerce integration and branding are already yielding positive results,” he added.
Sinha said to the upward trend in J&K’s exports, particularly in textiles, saffron, walnuts, and other horticultural products. “We are establishing efficient marketing networks and infrastructure to help our artisans and entrepreneurs reach global markets,” he noted.
On the tourism front, Sinha called for increased private sector investment, stressing that the government alone cannot build world-class infrastructure. “With improved air, rail, and digital connectivity, private players need to step in to invest in hospitality and adventure tourism,” he said.
Sinha highlighted J&K’s remarkable achievement as the first Union Territory in India to implement 97% of the Ease of Doing Business reforms, with the goal of reaching 100% soon. “This progress positions J&K as a top destination for investment,” he stated.
Additionally, he pointed to the government’s commitment to supporting MSMEs through infrastructure and policy initiatives. “Under the Self-Reliant India Fund (SRI Fund), 145 enterprises have already received financial assistance this year. We need to raise awareness to ensure that all eligible entrepreneurs benefit from these schemes,” he said.
Sinha also addressed the security situation in J&K, reaffirming that the region’s future is firmly tied to India’s progress. “J&K is an inseparable part of India, and no external force can disrupt this bond. The turbulent times of the past will not return,” he emphasized.
Speaking on the role of the public in maintaining peace, he said, “Peace is not just the responsibility of security forces. The people of J&K must actively contribute to ensuring stability, as the future of their business, development, and prosperity is directly linked to peace.”
On the tourism front, Sinha announced that J&K has witnessed significant growth, with rising numbers of tourists visiting the region. “With increased tourism, we need better connectivity. The Jammu-Kashmir train service is expected to commence in April,” he revealed.
He further urged the private sector to invest in tourism infrastructure, noting that the hotel industry alone has already attracted over Rs 40,000 crore in investments. “The growing number of stakeholders in peace is crucial for sustaining progress,” he added.
Sinha reiterated that peace and development go hand in hand. “The path to sustainable progress in J&K requires collaboration from all stakeholders. Stability is the foundation upon which our economy, business, and tourism will thrive.”
