New Delhi, August 25, 2022: Lieutenant Governor Manoj Sinha on Thursday said that J&K’s economy has been “living up to the expectation after August 2019”. The LG was speaking after he inaugurated the 8th International MSME Expo, Trade Fair & Summit 2022 at New Delhi.

“After August 2019, J&K’s economy has been living up to the expectation. In FY 2021-22 MSMEs export registered 54% growth and importer-exporter registration has gone up by 173%. Strategic focus on food processing, handicraft & organic products has stimulated the economic growth,” Sinha said in a tweet.

He said J&K has one of the fastest-growing horticulture markets in the country. “Our strengths in natural resources & skilled workforce, best in class incentives through new Industrial scheme are well known and makes J&K an ideal MSME destination.”

Sinha said new strength, resilience and global competitiveness of MSMEs will make India a preferred destination for manufacturing for the world.

“Indian MSME sector today can be described as Magical, Steadfast, Magnificent Enterprises, which is contributing nearly 45% of overall India’s exports. The number of initiatives under Aatma Nirbhar Bharat Abhiyan is driving economic progress and social development,” he said.