JAMMU, Mar 17: Lieutenant Governor Manoj Sinha today addressed the MSME Conclave 2025, organised by Indian Chamber of Commerce, in Jammu.
In his inaugural address, Sinha welcomed the Entrepreneurs, Bankers, Investors, Industry Leaders and Experts to explore the opportunities in the MSME sector and foster strategic collaborations during the conclave.
He highlighted the pivotal role played by the Micro, Small and Medium Enterprises in shaping the economy, driving country’s manufacturing sector growth and boosting Make in India initiative & MSME sector has witnessed unprecedented growth and brought remarkable transformation to the Indian economy. MSMEs exports increased from Rs. 3.95 lakh crore in 2020-21 to Rs. 12.39 lakh crore in 2024-25.
This number shows MSMEs are playing crucial role in strengthening global trade. If we look at three important aspects of socio-economic growth, then MSMEs have proved to be our backbone on all three – employment generation, entrepreneurship promotion, and economic development.
LG added that this year’s budget by the Central Government will give new hope and momentum to MSMEs & spoke on the key reforms in the MSME sector sweeping through the UT of Jammu Kashmir.
He reiterated that the Government of India is committed to extend all the possible support to facilitate J&K’s Industrial growth.
The Lieutenant Governor said, we have created entrepreneurial ecosystem in J&K to make it a preferred investment destination. Thousands of Units have become operational in the past few years and we are determined to take MSMEs growth to a new level, a growth that is inclusive and sustainable.
For successful MSME ecosystem technology adoption, technology upgradation, innovation and skills development is the key. We have taken steps to address issues in a constructive manner and my aim is to establish J&K as a hub of entrepreneurial excellence and employment generation.
He said, the speedy economic reforms, accessible credit facility, improved ease of doing business, attractive incentives, world-class facilities, new Procurement and Startup Policies and many more such interventions have infused new hopes for the MSME sector of Jammu Kashmir.
Sinha also cautioned against irresponsible statements that may shake investors’ trust and confidence and create further hurdles in J&K’s journey towards a prosperous future.
He said that the Central Government has put in immense efforts for the industrial growth of J&K and this journey must continue without any hurdles for the benefit of people of the Union Territory.
The Lieutenant Governor further laid special emphasis on scaling up the business and upgradation of Micro and Small units into Medium Enterprises. He called upon the policy makers, industry leaders and stakeholders to focus on important aspects like marketing, brand-building, infrastructure creation and availability of raw material.
Apart from exports, MSMEs should also focus on PV Cells, EV Batteries and Electric Equipment for the domestic market, he added. Big dreams of developed India are growing in small enterprises.
Considering the export volume of MSMEs and its contribution of about 30% to GDP, the progress of this sector should be prioritized, the Lieutenant Governor said.
Vikramjit Singh, Commissioner Secretary, Industries and Commerce Department J&K; Rahul Sahai, Chairman, IIC Jammu Chapter; Debmalya Banerjee, Regional Director, Indian Chamber of Commerce; Dr Arun Kumar Manhas, Director, Industries & Commerce Department Jammu, senior officials, members of Indian Chamber of Commerce, young Entrepreneurs, Bankers, Investors, Industry Leaders and Experts were present. Vikramjit Singh, Commissioner/Secretary to Industries & Commerce said his department is committed to enhance and establish new industries and is very hopeful of extension of NCSS package and due consideration for local industries will be given.
The first plenary session, ‘Navigating the Modern Challenges and Opportunities for MSMEs’, focused on digital transformation, regulatory compliance, and global market access. Experts, including Dr. Vivek Deshpande, a leader in technology and Subhalakshmi Samanta, an AI-driven entrepreneur, provided insights on technology adoption.
M.R. Shashidhara, President, POSSPOLE and Gowhar Arif, General Manager, JKDFC, discussed strategies for overcoming supply chain challenges and accessing international markets.
The second plenary session, ‘Role of Banks in Financing MSME Development & Future Growth’, tackled financial access, government credit schemes, and digital banking solutions. Panelists included Anil Kumar Sharma, DGM, SIDBI, Rahul Sharma, Branch Manager, ECGC, Rohit Kumar, J&K Bank, Ravinder Singh, AGM, UCO Bank and Shafat Sultan, MD, JKLFC, who discussed funding opportunities and financial resilience for MSMEs.
Rahul Sahai, in his address, also urged the administration to consider the extension of the NCSS package and the formulation of a local industrial incentive policy to further support MSME growth in J&K.
He emphasized that fostering entrepreneurship, strengthening financial inclusion, and enhancing infrastructure would be key to unlocking the region’s economic potential.
Concluding the event, Rahul Sahai thanked LG Manoj Sinha for his continued support and encouraged MSMEs to embrace innovation, digital transformation, and financial literacy for a more prosperous future.
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