The Hon. T.K. Jayasundara

¶ 01 Hon. Chairman, thank you for the opportunity to speak on the Head of the Ministry of Industry and Entrepreneurship Development at the 2026 Budget Committee Stage.

¶ 02 As an entry point, I refer to lessons from South Korea’s revival, from Prof. Samuel Undong’s work, translated by Prof. Padmalatha Siriwardhana, “How to Develop Our Village and Country.” The “Samuel Principles” emphasize collectivism, hard work, and self-help, and replacing the “we can’t” mindset with “we can.” Amidst today’s negativity, we must say, “We can build this motherland.”

¶ 03 This year, officials helped us immensely in executing this vision—across the Ministry and at District and Divisional Secretariat levels.

¶ 04 Our first task this year was to rebuild the entrepreneur’s confidence. An entrepreneur is not just a trader; he combines raw materials and human talent to create new products and value. Confidence is crucial. We inherited an economy with shattered international credibility. We are changing that; the rupee has stabilized; indicators from various research bodies are improving.

¶ 05 A major constraint to industry has been labour and the social damage caused by narcotics. Some claim we must first protect youth and later stop drugs—as a chicken-and-egg excuse. Without stopping drugs, the country suffers. Anyone arguing otherwise is abetting that business.

¶ 06 We also lacked focus in industrialization—efforts were fragmented across agencies, ministries and politics, even within villages. We are changing that. At district level, all relevant government bodies—our Ministry, Provincial Councils, central agencies—now work as one “unit.” We established and strengthened District Industry and Entrepreneurship Promotion Boards, and similar bodies at Divisional Secretariat level. We are bringing under one umbrella the Industrial Development Board, National Enterprise Development Authority, Small Enterprise Development Division, National Crafts Council, Export Development Board and others.

¶ 07 Some say we talk only micro, not macro. But macro emerges from strong micro—village-centered small industries scaling up. Digitalization is essential to link village economies to the wider market; India’s path shows this.

¶ 08 We are depoliticizing support—creating a level playing field for entrepreneurs and women’s groups, not distributing resources on party lines as before. With Anti-Dumping and Countervailing Duties, we are protecting domestic industry to compete internationally. We are prioritizing productivity—not just distributing goods—by improving entrepreneurship and financial literacy, introducing it to the school curriculum for the first time, and strengthening monitoring and evaluation.

¶ 09 With the Finance Ministry we are deploying credit mechanisms and targeting export-oriented sectors—cinnamon, tea, coir, wood-based products, spice-based products, food products, and gem-related products—bringing all actors together.

¶ 10 We have, within months, rebuilt trust—trust in Government, in our capacity to act, in international acceptance, in economic stability. Next year, we will intensify productivity, mobilize women and youth for production, and guide new entrepreneurs. Do not obstruct this journey. Korea’s Saemaul Undong took it to Asia’s fourth-largest economy within two decades; we can build a strong economy within a decade. Thank you.