Itanagar, March 16 (NationPress) - The Governor of Arunachal Pradesh, Lt Gen K.T. Parnai (Retd.), has called on local entrepreneurs to invest in creating productive assets in sectors that can greatly advance the state’s development. He emphasized the necessity for investment-focused initiatives that will promote economic growth and ensure sustainability.

During the launch of the Business Transformation Programme for Micro and Small Entrepreneurs in Itanagar, the Governor noted the significant turnout of entrepreneurs participating in this year-long membership and mentorship program aimed at fostering entrepreneurship.

While addressing the attendees, Lt Gen Parnai (Retd.) encouraged entrepreneurs to focus on creating assets that would aid in the growth of the state.

He pointed out the potential in areas like hospitality in tourism, waste management, coaching for competitive exams, preservation of local languages, and community information and service kiosks, among others.

The Governor urged entrepreneurs to leverage the workshop's resources by actively engaging in learning and applying the insights gained to build successful and sustainable businesses.

He also highlighted that although access to finance and infrastructure is critical, the success of enterprises is equally reliant on enhancing entrepreneurial skills.

Essential skills include business planning, financial management, marketing strategies, and the adoption of modern technologies, which he stated are vital for the growth, innovation, and market access of enterprises.

Commending the State Department of Skill Development and Entrepreneurship along with the Confederation of Indian Industry (CII) for organizing this initiative, the Governor expressed optimism that it would bolster the state’s skill development and entrepreneurial ecosystem.

He welcomed CII’s initiative to set up a Multi Skill Training Institute (MSTI) in the state, aimed at providing industry-relevant training for the youth.

Stressing the importance of the sector, he remarked that Micro, Small and Medium Enterprises (MSMEs) are pivotal to India’s economy, contributing nearly 30% to the national GDP and around 45% of exports, while offering employment to over 110 million people nationwide.

In Arunachal Pradesh, MSMEs are also on the rise, with approximately 50,000 businesses registered in sectors like food processing, tourism, hospitality, retail, handloom, handicrafts, construction, and small-scale manufacturing.

“These enterprises are crucial for fortifying local economies across various districts,” he stated.

The Governor added that innovation and startups are on an upward trend within the state.

Over the last four years, the Arunachal Pradesh Innovation and Investment Park has successfully incubated 106 startups, with 38% of these ventures spearheaded by women.

He further mentioned that the state was recognized as a 'Best Performing State' under the National Startup Ranking Framework in January 2025 by the Department for Promotion of Industry and Internal Trade, Government of India.

Secretary of Skill Development and Entrepreneurship, Bullo Mamu, also shared insights on various initiatives that the state government has implemented in this sector.