Srinagar, Mar 26 (KNS): Jammu and Kashmir has drawn inspiration from the economic models of Switzerland and Germany to foster self-reliance, digital adoption, and investor-friendly policies, Lieutenant Governor Manoj Sinha said at a workshop on MSME promotion at IIM Jammu.
Speaking at the event, organized by NITI Aayog, Sinha emphasized the crucial role of MSMEs in employment generation, economic progress, and public service delivery, while calling for seamless reforms and deeper stakeholder engagement.
The workshop focused on challenges and opportunities in three key sectors of J&K’s economy—textiles, food processing, and tourism. The LG highlighted that under Prime Minister Narendra Modi’s leadership, MSME exports have surged from ?3.95 lakh crore in 2020-21 to ?12.39 lakh crore in 2024-25, demonstrating the sector’s growing importance. He also reaffirmed the government’s commitment to fostering an entrepreneurial ecosystem in J&K, stating that thousands of new industrial units have become operational in recent years.
Sinha identified key areas essential for MSME growth, including technology adoption, innovation, skill development, infrastructure creation, and improving ease of doing business.Click Here To Follow Our WhatsApp ChannelHe also urged MSMEs to expand into manufacturing photovoltaic (PV) cells, electric vehicle (EV) batteries, and electric equipment to strengthen both domestic and export markets.
He further emphasized the need to enhance food processing performance, develop new tourist destinations, and boost infrastructure in the tourism sector. Expressing pride in the revival of J&K’s handloom industry, he noted that improved market linkages have led to global recognition of local products. He encouraged entrepreneurs to embrace new challenges and capitalize on emerging opportunities.
Calling for greater focus on marketing, brand-building, and business scaling, Sinha stressed the importance of upgrading micro and small enterprises into medium-sized units. He concluded by underlining MSMEs' vital role in India’s economy, noting that they contribute nearly 30% to GDP and play a significant role in global trade.
"The big dreams of a developed India are being built on small enterprises. Considering their growing export volume, the progress of this sector should remain a top priority," he remarked. (KNS)