MSMEs accelerating India’s economic growth: LG

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Inaugurates 9th India International MSME Expo & Summit 2023 in New Delhi

 Lieutenant Governor Manoj Sinha Thursday inaugurated the 9th India International MSME Expo and Summit 2023 in New Delhi.

In his address on the occasion, the Lt Governor commended the MSME Development Forum for its endeavours to bring together policymakers and entrepreneurs for the promotion of Micro, Small & Medium Enterprises.

“Micro, Small & Medium Enterprises are accelerating India’s economic growth and powering Hon’ble Prime Minister Shri Narendra Modi Ji’s vision of ‘Make in India’ and ‘Aatmanirbhar Bharat’,” the Lt Governor said.

Initiatives such as MSME Expo, trade fairs provide an important platform to spread awareness about government schemes, policies and to explore new business opportunities in the sector, he added.

At the Expo, the Lt Governor shared the key interventions of UT administration to facilitate the growth of MSMEs in J&K.

“MSMEs are the backbone of industrial growth and equitable development. Our commitment to industries, Small and Medium Enterprises and institutional support as well as infrastructural facilities in J&K is showing results,” the Lt Governor said.

Highlighting the immense potential of the MSME sector in Jammu & Kashmir, the Lt Governor said, as many as 2.81 lakh MSMEs have been registered on the Udyam portal in last 3 years, reflecting the sector’s remarkable growth trajectory, he added.

He said, the Districts like Shopian, Pulwama, Anantnag, Baramulla, Kulgam, Bandipora are recording unprecedented growth of micro and small units. The number of new enterprises in small towns is growing faster and realizing the dreams of new entrepreneurs, he added.

The Lt Governor underscored the important role of Small and Medium Enterprises in skilling of youth, promotion of One District One Product (ODOP) and handicraft and handloom sector in the UT of J&K.

Micro & Small enterprises have also become a powerful medium for socio-economic change for women entrepreneurs. Today, more than 74,000 SMEs are being run by women in Jammu and Kashmir, the Lt Governor said.

The Lt Governor invited the industry leaders and the potential investors to invest in Jammu & Kashmir. New industrial development policy offers greater incentives, support for expansion and opportunity to explore emerging possibilities in Tourism, Information Technology Enabled Services, Agriculture & Allied Sectors, he said.

For the promotion of Micro, Small & Medium Enterprises, the UT Administration had also taken an important decision and increased the total procurement of Government Departments and Public Sector Undertakings from MSMEs to 25 percent, he added.

The Lt Governor also launched the One District One Product (ODOP) Box of J&K UT. He said, all the districts of J&K are being developed as export hubs and efforts are being made to take the One District One Product Box launched today to the global market.

More than 40 exhibitors, supported by JKTPO, are participating in the 9th India International MSME Expo & Summit 2023, showcasing their innovative products, services, and solutions across diverse sectors.

The Lt Governor also visited the stalls installed by MSMEs and other stakeholders displaying local products from UT of J&K.

Rajnish Goenka, Chairman, MSME Development Forum; Alexander Rybas, Trade Commissioner of Russian Federation in India; Dr Deepak Vohra, Indian Diplomat; Dr Sharad Kohli, National Board member, MSME Development Forum, foreign and domestic business delegates, investors, entrepreneurs and representatives of MSMEs were present on the occasion

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