JAMMU, Feb. 2 -- Jammu & Kashmir's MSME sector is poised to gain significantly from the Union Budget 2025-26, with a host of favorable provisions designed to boost the region's economic growth. According to the latest data from the Udyam registration portal, a total of 486,102 MSMEs have been registered in Jammu & Kashmir from July 1, 2020, to February 1, 2025. The Udyam registration process is paperless, free of cost, and based on self-declaration, requiring no document uploads.
The revised classification of MSMEs announced in the budget will see around 99% of the registered units in Jammu & Kashmir classified as micro units, up from 98% currently. This change will allow these enterprises to access various government schemes and benefits,...