Jammu and Kashmir LG Manoj Sinha Warns Against Irresponsible Statements That Could Undermine Investor Trust

Jammu and Kashmir's Lieutenant Governor, Manoj Sinha, has urged caution against making statements that could harm investor confidence and hinder industrial growth in the region. Speaking at the MSME Conclave organised by the Indian Chamber of Commerce, he emphasised the importance of maintaining a supportive environment for investment. The government has worked to create an entrepreneurial ecosystem over the past five years to make Jammu and Kashmir an attractive investment destination.

The Central Government has been instrumental in promoting industrial growth in Jammu and Kashmir. Sinha stressed that this progress must continue without disruptions for the benefit of the region's people. He warned against "irresponsible statements" that might undermine investor trust and impede Jammu and Kashmir's path to prosperity. The Lieutenant Governor welcomed entrepreneurs, bankers, investors, industry leaders, and experts to explore opportunities in the MSME sector during the conclave.

MSME Sector's Role in Economic Growth

Sinha highlighted the significant role of the MSME sector in shaping India's economy. He noted its contribution to manufacturing growth and the Make in India initiative. Under Prime Minister Narendra Modi's leadership, the MSME sector has seen remarkable growth, transforming the Indian economy. MSME exports increased from Rs 3.95 lakh crore in 2020-21 to Rs 12.39 lakh crore in 2024-25, demonstrating their crucial role in global trade.

The Lieutenant Governor pointed out that MSMEs are vital for employment generation, entrepreneurship promotion, and economic development. This year's central government budget aims to provide new hope and momentum for MSMEs. He reiterated that key reforms are underway in Jammu and Kashmir's MSME sector, with the central government's commitment to supporting industrial growth.

Creating a Thriving Entrepreneurial Ecosystem

Sinha stated that thousands of units have become operational in recent years as part of efforts to establish an entrepreneurial ecosystem in Jammu and Kashmir. The goal is to elevate MSME growth to a new level that is both inclusive and sustainable. He emphasised technology adoption, innovation, skills development, and technology upgrades as essential for a successful MSME ecosystem.

The Lieutenant Governor also highlighted various measures taken to support the sector, including economic reforms, accessible credit facilities, improved ease of doing business, attractive incentives, world-class facilities, new procurement policies, and start-up initiatives. These interventions have infused new hope into Jammu and Kashmir's MSME sector.

Focus on Scaling Up Businesses

Sinha placed special emphasis on scaling up businesses by upgrading micro and small units into medium enterprises. He called on policymakers, industry leaders, and stakeholders to focus on marketing, brand-building, infrastructure creation, and raw material availability. Additionally, he encouraged MSMEs to explore opportunities in PV cells, EV batteries, and electric equipment for the domestic market.

He concluded by stating that "Big dreams of a developed India are growing in small enterprises." Given MSMEs' export volume and their contribution of about 30 percent to GDP, prioritising this sector's progress is essential.