JAMMU, August 19, 2026 : Lieutenant Governor Manoj Sinha on Wednesday called Micro, Small and Medium Enterprises (MSMEs) the “true builders” of India’s economic resilience and self-reliance, while urging entrepreneurs and industry leaders to embrace technology, innovation and global opportunities.
Addressing the 2nd edition of the ICC MSME Conclave 2026 in Jammu, the Lieutenant Governor delivered a keynote address on the theme “Shaping the Future of MSMEs, Nano GCCs & Technology-led Growth.” He said the theme was both timely and visionary as India’s enterprise ecosystem undergoes rapid transformation driven by technology and innovation.
Sinha highlighted the critical contribution of MSMEs to the national economy, saying they account for 31.3% of India’s GDP and nearly half of the country’s exports, while remaining the second-largest source of employment after agriculture.
“MSMEs are the heartbeat of our economy and the true builders of India’s resilience and self-reliance,” he said.
Technology Opening New Doors for MSMEs
The Lieutenant Governor highlighted the growing emergence of Nano Global Capability Centres (GCCs), where small and specialised teams can provide high-value technological capabilities traditionally associated with large corporations.
He said technological advances, including artificial intelligence, automation and digital infrastructure, are reducing barriers to entry and enabling enterprises in Tier-II cities to develop and scale globally competitive capabilities.
Sinha said cities such as Jammu and Srinagar can benefit significantly from this transformation, urging entrepreneurs to view the Nano GCC model as a pathway to global relevance.
Jammu Kashmir Witnessing Economic Transformation
Highlighting the economic transformation of Jammu Kashmir, Sinha said investments in the Union Territory have witnessed a significant rise in recent years.
According to him, investments reached ₹5,824 crore in FY 2025–26, representing a 13-fold increase compared with pre-2021 averages. He said investments made during the last four years have exceeded those recorded during the preceding seven decades.
The Lieutenant Governor also highlighted the growth of entrepreneurship, noting that the number of startups increased from 69 in 2020 to 1,305 in FY 2025–26, while Udyam registrations rose from around 24,000 in 2021 to 6.16 lakh this year.
Four Key Priorities for MSME Growth
Sinha outlined key challenges facing MSMEs and called for a forward-looking policy framework focused on:
- Affordable and accessible credit
- Technology upgradation
- Supply-chain integration and market access
- Administrative reforms and reduction of red tape
He also stressed the importance of sustainable trade, encouraging MSMEs to adopt green technologies and renewable energy.
The Lieutenant Governor called for greater formalisation of micro industries to expand their access to institutional credit and urged stronger education-industry partnerships, incubation centres and design studios within industrial clusters.
Boosting J&K’s Export Potential
Sinha said Jammu Kashmir has significant potential to become a stronger player in the export economy because of its distinctive climate, cultural heritage and traditional production chains.
He advocated large-scale promotion of initiatives such as “One District, One Export Hub” to strengthen local industries and connect them with wider domestic and international markets.
“Our bright future rests upon the aspirations of small and medium businesses,” Sinha said, calling for an ecosystem that is globally competitive, environmentally conscious, inclusive and innovation-driven.
He added that young people should not merely seek employment but should be empowered to become job creators.
Call for Terror-Free and Corruption-Free Society
Addressing broader challenges facing the country, the Lieutenant Governor called upon industry leaders and stakeholders to contribute towards building a terror-free, corruption-free, merit-based and prosperous society.
He also spoke about the modernisation of cash-handling systems at the Shri Mata Vaishno Devi Shrine, stating that Cash Recycler Machines (CRMs) were being installed to replace manual counting and minimise direct human intervention in the process.
Sinha said two CRMs had already been installed and the remaining machines were expected to be installed within 15 days.
The conclave was attended by senior government officials, representatives of the Indian Chamber of Commerce, industry leaders, investors and members of various trade and business organisations.
Among those present were 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; and Dr Arun Kumar Manhas, Director, Industries & Commerce Department, Jammu.
MLA Nagrota Devyani Rana, Jammu Deputy Commissioner Dr Rakesh Minhas, Jammu Municipal Commissioner Devansh Yadav, CEO Mission Yuva Harvinder Singh, SSP Jammu Joginder Singh and other senior civil and police officers also attended the event.
