Committee Constituted to Boost Ease of Doing Business for MSMEs in J&K

Srinagar: Government of Jammu and Kashmir on Wednesday constituted a high-level committee to facilitate ease of doing business and streamline compliance mechanisms across departments to facilitate working and functionality of Micro, Small, and Medium Enterprises (MSMEs) in Union territory.

The committee will comprise senior administrative and institutional figures including representatives from the Finance Department, Industries & Commerce, Labour & Employment, IIM Jammu, IIT Jammu, NABARD, SIDBI, RBI, J&K Bank, and other industry stakeholders. The Administrative Secretary, Finance Department will head the committee as Chairman, with the Administrative Secretary, Industries & Commerce acting as Member Secretary.

The committee’s ‘Terms of Reference’, as per the order, include suggesting measures to improve the business ecosystem for MSMEs in the UT, reviewing current regulatory frameworks and identifying ways to reduce compliance burdens. It will also work on identifying non-regulatory barriers, such as access to credit or infrastructure issues, and suggest strategies to integrate unregistered MSMEs into the formal economy.