Distributes ₹16.17 Cr in Loans to Boost Entrepreneurship
KD NEWS SERVICE
LEH-LADAKH, Nov 7: Reaffirming the Union Territory Administration’s vision of creating a self-reliant, inclusive, and prosperous Ladakh, Lieutenant Governor Shri Kavinder Gupta on Thursday said that economic empowerment and entrepreneurship will be the cornerstones of the region’s sustainable growth. The Lt Governor was speaking at the SIDCO Loan Distribution Ceremony held at the Rural Development Department Hall in Agling, Leh, where he distributed loans worth ₹16.17 crore among beneficiaries from Leh and Kargil districts.
Addressing a large gathering of entrepreneurs, artisans, and youth, the Lt Governor said that the Administration’s focus is on building an Atmanirbhar Ladakh — a region where every citizen has equal access to opportunities for growth and innovation. “Economic empowerment is the key to self-reliance, and every step taken today will shape Ladakh’s future as a model of sustainable development,” he emphasized.
He lauded the Sindhu Infrastructure Development Corporation (SIDCO) for its vital role in translating this vision into reality. “SIDCO has become a bridge of opportunity, helping people move from dependency to entrepreneurship,” he said, commending the organization for ensuring that government schemes and financial assistance reach the most deserving sections of society, including Scheduled Tribes, Scheduled Castes, minorities, persons with disabilities, and sanitation workers.
Highlighting Ladakh’s impressive economic progress, the Lt Governor revealed that over 13,600 MSME units have been established across the Union Territory, generating employment for more than 50,000 individuals. Additionally, 147 industrial estate units are now operational, promoting small-scale industries and local manufacturing. “These achievements reflect the determination of the people of Ladakh to contribute meaningfully to the region’s growth and prosperity,” he added.
Shri Kavinder Gupta also highlighted SIDCO’s targeted schemes such as the Virasat Scheme for traditional artisans, the Adivasi Mahila Sashaktikaran Yojana (AMSY) for empowering tribal women through self-employment, and the Educational Loan Scheme supporting students pursuing higher and technical education. He informed that loans are being provided at concessional interest rates ranging between 4% and 10%, ensuring affordable credit access for budding entrepreneurs.
The Lt Governor said that during the recent Project Implementation Committee meetings, 89 beneficiaries from Leh and 48 from Kargil were approved for loan disbursement under various schemes, amounting to ₹16.17 crore. These loans, he said, represent more than financial aid—they symbolize faith in the people’s potential and their ability to transform Ladakh’s economic landscape.
Acknowledging the government’s efforts to promote traditional livelihoods, he said that 4,188 artisans have been registered under the Pradhan Mantri Vishwakarma Yojana, giving a new identity to Ladakh’s craftsmanship and market linkages. He further highlighted that ‘Brand Ladakh’ showrooms established in Leh and New Delhi are helping showcase and promote Made in Ladakh products nationally. Under SIDCO initiatives, ₹1.19 crore has also been released as seed capital to women Self-Help Groups (SHGs), enabling them to emerge as successful entrepreneurs and community leaders.
Encouraging the youth to become job creators rather than job seekers, the Lt Governor urged them to leverage central government schemes such as the Prime Minister’s Employment Generation Programme (PMEGP), PM Vishwakarma Yojana, Start-Up India, and SIDCO’s entrepreneurship programmes. “Ladakh’s youth possess the creativity, courage, and determination to redefine the economic narrative of this region,” he remarked.
Concluding his address, Shri Kavinder Gupta said that the Administration’s developmental approach goes beyond financial inclusion—it is about restoring dignity, creating opportunities, and empowering individuals to realize their dreams. “Each loan must be treated not as mere financial aid, but as a responsibility to build Ladakh’s future. Together, we can build a self-reliant, confident, and prosperous Ladakh,” he stated.
Earlier, Bhupesh Chaudhary, IAS, Managing Director of SIDCO, delivered the inaugural address, tracing SIDCO’s journey since its inception in 2021 and its pivotal role in facilitating loans and promoting entrepreneurship in the Union Territory. Senior Managing Director Sonam Norboo presented the vote of thanks, expressing gratitude to the Lt Governor and dignitaries for their presence and continued support.
Among the dignitaries present on the occasion were Secretary Higher Education, Bhanu Prabha, IAS; Deputy Commissioner Leh, Romil Singh Donk, IAS; and several senior officials from SIDCO and the Administration.
