J&K Govt & NSE Pact: Boost for Local Businesses

Jammu, Nov 24 (PTI) The Jammu and Kashmir government and the National Stock Exchange on Monday signed an agreement to create awareness among local businesses about the benefits of formal listing, an official spokesperson said.

The memorandum of understanding (MoU) was signed between the Department of Industries and Commerce, and the NSE in the presence of Chief Minister Omar Abdullah, the official said, terming the pact as a significant step toward strengthening the financial ecosystem for small and medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs) in the Union Territory.

He said the pact aims to create greater awareness among local enterprises about the benefits of formal listing and to facilitate their potential listing on the NSE, India's leading stock exchange platform.

The initiative is expected to open new avenues of growth, investment, and market expansion for J&K-based entrepreneurs, the spokesperson said.

Abdullah appreciated the collaborative initiative, noting that the partnership with NSE will empower local businesses with improved financial literacy, enhanced visibility, and broader access to capital markets.

"The government is committed to enabling our MSMEs and SMEs to compete at national and global levels. This collaboration with NSE will help bring transparency, investment, and confidence to our entrepreneurial ecosystem," the chief minister said.