New Delhi [India], June 30 : India's next phase of economic transformation will depend on building MSMEs that are productive, innovative, technology-driven and globally competitive, Mr Bharat Khera, Secretary, Ministry of MSME, Government of India, said while inaugurating the CII MSME RISE Summit in New Delhi today. Emphasising that MSMEs contribute nearly one-third of India's GDP, close to half of the country's exports and remain the second-largest source of employment, he said the sector will be the principal catalyst in achieving the vision of Viksit Bharat 2047.
The Secretary noted that while geopolitical shifts, supply chain disruptions and rapid technological changes are reshaping global business, they also present new opportunities for Indian enterprises. Emphasising that technology adoption is now a business imperative, he called on MSMEs to leverage digitalisation, Industry 4.0, artificial intelligence, and innovation to enhance productivity and competitiveness.
Highlighting the government's enabling ecosystem, he noted that Udyam registrations have grown five-fold to over 8.8 crore enterprises in the last three years, institutional credit to MSMEs has increased from around ₹10 lakh crore in 2014 to nearly ₹37 lakh crore, while the Credit Guarantee Scheme has facilitated about ₹30 lakh crore of guaranteed credit. He also highlighted initiatives including 53 Technology Centres, the MSME Champions Programme, TReDS, the Self-Reliant India Fund, and expanded market access through digital commerce and public procurement platforms to help MSMEs scale sustainably and compete globally.
Mr Ateesh Kumar Singh, Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, said CII platforms provide valuable ground-level feedback that helps government refine policies and design future reforms. He encouraged MSMEs to actively leverage the wide range of government schemes covering finance, infrastructure, entrepreneurship, and skill development while also sharing implementation challenges to improve programme delivery. He also stressed the importance of responsible business practices, transparency, and tax compliance in building a stronger and more competitive business ecosystem.
Speaking on public procurement, Mr Mihir Kumar, CEO, Government e Marketplace (GeM), highlighted GeM's role in democratising access to government procurement. He noted that public procurement accounts for a significant share of the economy and informed that nearly 45 per cent of procurement through GeM is now sourced from MSMEs, well above the government's mandated target. He explained that GeM's completely digital and brand-neutral platform provides equal opportunities to enterprises irrespective of size while enabling transparent procurement, faster payments and wider market access. He urged MSMEs to strengthen their digital capabilities and fully utilise the platform's end-to-end online ecosystem.
Sharing the development finance perspective, Mr Prakash Kumar, Deputy Managing Director, Small Industries Development Bank of India (SIDBI), identified formalisation, digitalisation, sustainability, and quality enhancement as the key drivers of future MSME growth. He emphasised that integrating informal enterprises into the formal financial ecosystem would unlock greater access to government support and institutional finance. He highlighted SIDBI's initiatives promoting green finance, digital lending, capacity building, and enterprise development while encouraging MSMEs to invest in artificial intelligence, cybersecurity, energy efficiency and export readiness to remain globally competitive.
Underscoring the transformative role of Digital Public Infrastructure, Mr Utkarsh Goswami, Senior Vice President – Network Growth, Strategic Initiatives and Government Engagement, Open Network for Digital Commerce (ONDC), said India's approach to digital commerce is creating an open and competitive marketplace that lowers the cost of market access for businesses. He noted that ONDC, alongside platforms such as Aadhaar and UPI, is enabling MSMEs to participate more effectively in the digital economy by reducing barriers and fostering greater competition.
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Mr Sunil Chordia, Chairman, CII National MSME Council and CMD, Rajratan Global Wire Ltd, said the future competitiveness of Indian MSMEs will depend on five strategic priorities—policy advocacy and ease of doing business; finance, credit and risk management; productivity, domestic demand and global market access; and sustainability, digital transformation, innovation and capacity building.
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Mr Shreekant Somany, Chairman – Sustainability & CBAM Readiness, CII National MSME Council and CMD, Somany Ceramics Ltd, said India's MSME journey must now move beyond survival towards building enterprises that are competitive, resilient and capable of scaling sustainably. He emphasised that future competitiveness will increasingly be driven by productivity, quality, technology adoption, sustainability, skilled leadership and collaboration across ecosystems. He called for stronger industrial clusters, deeper OEM-MSME partnerships, harmonised implementation of policies across Centre and States, and common infrastructure to support sustainability and global competitiveness.
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