#IFBA2021 | “Family businesses today contribute up to 80 percent to India’s GDP,” Jammu & Kashmir LG Manoj Sinha, who is the chief guest at Moneycontrol PRO’s Indian Family Business Awards 2021 event, said during his keynote address.

Family businesses provide utility to customers, generate jobs, fund startups and have a “key role to play in achieving the (USD) 5 trillion economy”, he added.

“IMF’s GDP projection pegs India at highest for 2022. This shows rapid growth can only happen due to swift economic reforms,” J&K LG Manoj Sinha said, adding that the credit should go to Prime Minister Narendra Modi for expediting the process of economic growth.

“Today, the state has investment proposals worth Rs 52,000 crore,” Jammu & Kashmir LG Manoj Sinha said, adding that the Union territory is witnessing an economic turnaround since the abrogation of Article 370 in August 2019.

“I am appealing all leading family businesses to come and invest in Jammu & Kashmir. I assure that the best facilities among all states and Union territories will be provided to you in J&K,” Sinha said.