{"id":28415,"date":"2026-08-20T02:51:11","date_gmt":"2026-08-20T02:51:11","guid":{"rendered":"https:\/\/kashmirthunder.in\/?p=28415"},"modified":"2026-08-20T02:51:11","modified_gmt":"2026-08-20T02:51:11","slug":"msmes-true-builders-of-indias-economic-resilience-lg-sinha","status":"publish","type":"post","link":"https:\/\/kashmirthunder.in\/index.php\/2026\/08\/20\/msmes-true-builders-of-indias-economic-resilience-lg-sinha\/","title":{"rendered":"MSMEs true builders of India\u2019s economic resilience: LG Sinha"},"content":{"rendered":"

Outlines 4 priorities: affordable credit, tech upgradation, supply-chain integration, cutting red tape<\/strong><\/p>\n

Jammu, Aug 19: Lieutenant Governor Manoj Sinha on Wednesday highlighted the crucial role of MSMEs in India\u2019s economic growth and resilience, saying these are the backbone of the nation\u2019s economy, contributing over 31% to GDP, nearly half of India\u2019s exports, and providing the second-largest employment after agriculture.<\/p>\n

Inaugurating the 2nd Edition of the ICC MSME Conclave 2026 in Jammu, the LG, in his keynote address, highlighted the transformative role of Micro, Small and Medium Enterprises (MSMEs), the rise of Nano Global Capability Centres (GCCs), and the centrality of technology-led growth in shaping India\u2019s economic future.<\/p>\n

The Lieutenant Governor underscored that India\u2019s economy stands at a defining crossroads where agility, innovation, and technology are rewriting the rules of enterprise. He said the theme of the conclave- \u201cShaping the Future of MSMEs, Nano GCCs & Technology-led Growth\u201d – is timely and visionary.<\/p>\n

The Lieutenant Governor reaffirmed that MSMEs are powering employment, driving exports, and nurturing entrepreneurship across the nation.<\/p>\n

\u201cMSMEs are contributing 31.3% to GDP and nearly half of India\u2019s exports. They are also the second-largest provider of employment after agriculture. MSMEs are the heartbeat of our economy and the true builders of India\u2019s resilience and self-reliance,\u201d he said.<\/p>\n

The Lieutenant Governor highlighted the emergence of Nano Global Capability Centres (GCCs), where small, specialized teams deliver high-value capabilities once reserved for large corporations. \u201cI strongly believe that this is democratization in its truest sense. It really means that a mid-sized enterprise in a tier-two city can now build, own, and scale world-class technology capability on its own terms. And behind all of this is technology as the very engine of growth. Artificial intelligence, automation and digital infrastructure are compressing timelines, lowering barriers, and opening doors that were once closed to all but the largest players. This gives cities like Jammu, Srinagar a new sense of confidence and I believe today’s conclave is more than just fire-side chat. It is a call to action. A call to reimagine what our MSMEs can become and to embrace the nano GCC model as a genuine pathway to global relevance. It is a call to place technology at the very heart of India\u2019s next chapter of inclusive growth,\u201d he said.<\/p>\n

The Lieutenant Governor said the Union Territory of Jammu Kashmir is a vibrant example of all-round transformation in the country. Since 2021, investments worth Rs. 5,824 crore in FY 2025\u201326 alone marked a 13-fold increase compared to pre-2021 averages. Over four years, investments exceeded those made in the preceding 70 years. Start-ups rose from 69 in 2020 to 1,305 in FY 2025\u201326, while Udyam registrations surged from 24,000 in 2021 to 6.16 lakh this year.<\/p>\n

The LG also outlined four pressing challenges for MSMEs including affordable credit, technology upgradation, and supply-chain integration to ensure market access and brand-building for small entrepreneurs. He also called for administrative reforms, wherever required to eliminate the red tape to create an enabling environment.<\/p>\n

He called for a forward-looking roadmap with sustainable trade that will encourage MSMEs to adopt green technologies and renewable energy. He also stressed on formalisation of micro industries to Expand institutional credit access. The Lieutenant Governor asked the participants to focus on education\u2013industry partnerships and establishment of incubation centres and design studios within industrial clusters.<\/p>\n

\u201cThe fourth objective is to strengthen export competitiveness, and I believe that this opportunity is especially significant for Jammu Kashmir. Our climate and distinctive cultural and traditional production chains provide us with an exceptional position in the export sector. Therefore, initiatives such as \u201cOne District, One Export Hub\u201d need to be promoted on a large scale,” the Lieutenant Governor said.<\/p>\n

The Lieutenant Governor emphasized that India\u2019s economic progress cannot be complete without acknowledging the perseverance and entrepreneurial spirit of MSMEs.<\/p>\n

\u201cOur bright future rests upon the aspirations of small and medium businesses. Let us build an ecosystem that is robust, globally competitive, environmentally conscious, and inclusive. On the strong foundation of MSMEs, we must develop an economy, in which every region, every section, and every talent in Jammu Kashmir finds opportunities to advance, and where young people do not merely seek jobs but create employment,\u201d he said.<\/p>\n

The Lieutenant Governor also spoke on the challenges that the country is facing today. He called upon the industry leaders and all the key stakeholders to make their significant contribution in building a terror-free, corruption-free, merit based and prosperous society.<\/p>\n

“There is a lot of discussion in the country regarding temple offerings. A respected member of Shri Mata Vaishno Devi Shrine Board suggested in a meeting that the manual counting process should be stopped. So, two Cash Recycler Machines (CRM) have been installed there, and the remaining CRMs will be installed in 15 days. The human interface itself has been eliminated. No employee of the Shrine Board or the bank will have any direct involvement in it,” he said.<\/p>\n

Vikramjit Singh, Commissioner Secretary, Industries and Commerce Department J&K; Rahul Sahai, Chairman, ICC Jammu Chapter; Vikramaditya Singh, Trustee, Dharmarth Trust; Rakesh Sinha, CEO, Quintes Global; Dr Arun Kumar Manhas, Director, Industries & Commerce Department Jammu, senior officials, members of Indian Chamber of Commerce, Industry Leaders and Experts, Investors and representatives of various trade and business organisations attended the conclave.<\/p>\n

Devyani Rana, Member of Legislative Assembly from Nagrota, Dr Rakesh Minhas, Deputy Commissioner Jammu, Devansh Yadav, Municipal Commissioner Jammu, Harvinder Singh, CEO Mission Yuva, Joginder Singh, SSP Jammu, senior officers of civil and Police administration, were also present.<\/p>\n","protected":false},"excerpt":{"rendered":"

Outlines 4 priorities: affordable credit, tech upgradation, supply-chain integration, cutting red tape Jammu, Aug 19: Lieutenant Governor Manoj Sinha on Wednesday highlighted the crucial role of MSMEs in India\u2019s economic growth and resilience, saying these are the backbone of the nation\u2019s economy, contributing over 31% to GDP, nearly half of India\u2019s exports, and providing the […]<\/p>\n","protected":false},"author":2,"featured_media":28416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[2,32],"tags":[],"class_list":["post-28415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","category-kt-front"],"_links":{"self":[{"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/posts\/28415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/comments?post=28415"}],"version-history":[{"count":1,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/posts\/28415\/revisions"}],"predecessor-version":[{"id":28417,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/posts\/28415\/revisions\/28417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/media\/28416"}],"wp:attachment":[{"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/media?parent=28415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/categories?post=28415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmirthunder.in\/index.php\/wp-json\/wp\/v2\/tags?post=28415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}