World MSME Day, celebrated on June 27th, is a global recognition of the vital role that Micro, Small, and Medium-sized Enterprises (MSMEs) play in driving economic growth, innovation, and job creation. This day highlights the contributions of MSMEs to sustainable development, promotes awareness of the challenges they face, and encourages support for their continued success and resilience. By honoring the entrepreneurial spirit and ingenuity of MSMEs, World MSME Day aims to foster a more inclusive and dynamic global economy.
Please find below some insights from industry experts:
“The logistics sector is currently undergoing significant reforms to tackle infrastructure and technology challenges. The logistics and supply chain industry serves as a critical lifeline for the MSME sector, enabling these businesses to deliver their products efficiently to the market. Given the constraints in capital and resources that MSMEs often face, they rely significantly on the seamless operations of their third-party logistics providers to enhance their market competitiveness and profitability.
Our aim is to cultivate an ecosystem where MSMEs can thrive, supported by robust logistics infrastructure and sustainable practices. Our commitment extends beyond providing logistical solutions; we actively engage in initiatives that enhance the operational efficiency and competitiveness of MSMEs. Through various programs, including capacity-building workshops and digital transformation initiatives, we support the growth and sustainability of MSMEs.
Our express distribution business, under Allcargo Gati Limited, offers last-mile delivery services tailored to the specific needs of MSMEs, ensuring their products reach all corners of the country. By connecting SME clusters with efficient logistics solutions, we help streamline their operations and unlock new market opportunities.”
Furthermore, Allcargo Gati Limited is dedicated to green and sustainable logistics practices. We leverage cutting-edge technology to optimize supply chain efficiency, reduce carbon footprints, and promote eco-friendly transportation solutions. Our sustainable initiatives ensure that SMEs not only benefit from efficient logistics but also contribute to a greener environment. By fostering a collaborative approach, we can create a resilient and future-ready logistics network that empowers India’s MSMEs to achieve lasting success.”
Saahil Goel, MD & CEO, Shiprocket
“At Shiprocket, we consider MSMEs to be the protagonists of Bharat’s growth story and a pivotal driver of our economy. On International MSME Day, we want to double down on our commitment to making eCommerce simple, accessible, and trustworthy for the MSMEs of Bharat. We strongly support the government’s vision for India@100 and believe that achieving this will require establishing an inclusive and accessible environment where businesses from every nook and corner of the country have equal opportunities and the right tools to thrive. Shiprocket acknowledges and celebrates the innovation brewing in different corners of Bharat; from Jaipur’s local businesses renowned for their handcrafted excellence to Bengaluru startups leveraging AI solutions for personalised customer experiences. These powerhouses will prove to be the engines of growth, contributing to the projected $300 billion Indian eCommerce market.”
Ms. Zaiba Sarang, Co-founder of iThink Logistics
“The logistics sector, a backbone of global trade, is witnessing a transformation driven by technology. Micro, Small, and Medium Enterprises (MSMEs) are at the forefront of this change, leveraging AI to create a more collaborative and future-ready business landscape. AI empowers MSMEs by optimizing supply chain operations, from inventory management to last-mile delivery. Predictive analytics help these businesses forecast demand accurately, reducing wastage and ensuring timely delivery. This technological edge enables MSMEs to compete with larger players, enhancing their market presence.
Collaboration is another critical aspect where AI plays a significant role. By integrating AI-driven platforms, MSMEs can seamlessly connect with suppliers, distributors, and customers. This connectivity fosters a cohesive ecosystem where information flows efficiently, and decision-making becomes more data-driven. For instance, real-time tracking systems powered by AI provide transparency and accountability, ensuring that all stakeholders are on the same page. AI also brings about cost efficiencies. Automation of routine tasks such as sorting, packaging, and route optimization reduces labor costs and minimizes errors. For MSMEs operating on tight budgets, these savings can be redirected towards growth initiatives and innovation.
At iThink Logistics, we are committed to empowering MSMEs by providing AI-enabled solutions tailored to their unique needs. By embracing AI, MSMEs are not only enhancing their operational efficiency but also paving the way for a more resilient and adaptive logistics sector. The future of logistics lies in this symbiotic relationship between technology and MSMEs, driving progress and creating new opportunities for all.”
Akash Gupta, Co-founder & CEO of Zypp Electric
At Zypp Electric, we firmly believe that embracing AI and technology is key to empowering MSMEs in logistics and creating a collaborative, future-ready enterprise. Our data shows that solution the use of AI can increase MSME productivity by a significant rate and operating cost benefit with strategic efficiency and demand. Forecasting and fleet management enable MSMEs to streamline operations, reduce waste and provide prompt and reliable customer service.
However, the real power comes when MSMEs collaborate and share data through secure AI-powered platforms. This allows them to collectively gain powerful insights, predict trends, and make intelligent decisions. Zypp is committed to building this collaborative AI ecosystem to help MSMEs thrive in an increasingly competitive export market. By harnessing technological potential and working together, we can unlock the full potential of India’s exports and foster sustainable growth for all major industries.
Mr. Roshan Shah, Co-Founder and CEO – VoloFin
On this MSME Day, we proudly recognize the steadfast spirit and ingenuity of small businesses worldwide. Through export factoring, we at VoloFin enable MSMEs to navigate global markets with confidence, we empower MSMEs to seize new opportunities and expand their operations providing crucial financial support and unlocking growth opportunities. By bridging cash flow gaps and mitigating credit risks, we empower MSMEs to expand their reach and amplify their impact on the global stage. Together, we celebrate their vital contributions to economies and communities, fostering growth, innovation, and job creation in India and beyond.
Manish Chasta, Co-founder & CTO at Eventus Security
“On World MSME Day, we at Eventus Security celebrate the invaluable contributions of Micro, Small, and Medium Enterprises to the global economy. In an increasingly digital world, the cybersecurity challenges faced by MSMEs are significant. Eventus is dedicated to empowering enterprises with state-of-the-art cybersecurity services, ensuring they thrive securely. By providing a wide range of managed services like SOC as a Service(SOCaaS), Managed XDR(MXDR) , Red Teaming, Threat Intelligence, etc., we help MSMEs build robust cyber resilience. Our commitment is to protect their innovations, and application, network, data, enabling them to focus on growth and success. Together, we can create a safer digital landscape for all businesses of all sizes.”
Raj Sivaraju, President, APAC, Arete
“On World MSME Day, we confront the stark reality that the economic backbone of our nation – micro, small, and medium enterprises – faces formidable cyber threats and risks. At Arete, we recognize cybersecurity as an existential imperative for MSMEs to thrive in the digital ecosystem. Our mission is to demystify cybersecurity, providing robust, tailored solutions that reinforce their defenses against relentless threat actors and cyber incidents. However, true cyber resilience transcends technology – it demands a profound cultural shift, where cybersecurity becomes deeply ingrained across every facet of an MSME’s operations, cultivating a security-first mindset that empowers them to navigate the digital landscape with confidence and agility. Today, we renew our commitment to arming these economic champions with the vital cybersecurity capabilities they need to conquer new frontiers undeterred, for when our MSMEs are cyber-resilient, our nation’s economic future burns brighter than ever.”
Vishal Salvi, CEO of Quick Heal Technologies Limited
“MSMEs account for approximately 30% of India’s GDP and provide employment to over 110 million people across various sectors, making them a crucial driver of economic prosperity. They are essential for realizing the vision of Atmanirbhar Bharat and contribute significantly to our nation’s economic prosperity. As India’s only CSMA-aligned solutions provider, Seqrite deeply understands that cybersecurity is indispensable for the growth and resilience of MSMEs as well as their unique challenges. Our commitment extends beyond protection; we empower enterprises with tailored cybersecurity solutions that bolster defenses and mitigate risks. This enables enterprises to operate securely, build trust with customers, and expand into new markets confidently while remaining compliant with regulatory acts like DPDP. By investing in robust cybersecurity measures, they can unlock new opportunities, streamline operations, and enhance their global competitiveness.”
Amit Kumar, Chief Technology Officer, Easebuzz
“India’s massive MSME sector, with over 63 million businesses, is the engine of our economic growth. By leveraging data and strong financial bundling via various Saas based services, these businesses can unlock even greater potential. Investing in digital payments infrastructure empowers them to make informed decisions, optimize operations, and reach new customers. The government’s focus on MSMEs, with initiatives like digital adoption, DPI orchestration and financial inclusion, is crucial for growth and scale. These policies create a supportive environment for entrepreneurs to thrive, and become part of the formal economy. As MSMEs contribute significantly to GDP and job creation, their success is vital to India’s economic growth. By working together, we can foster a thriving ecosystem that empowers MSMEs to become the backbone of a vibrant Indian economy.”
Mr Rahul Garg, CEO & Founder- Moglix.
“India’s MSMEs are the backbone of our economy. Micro-enterprises lead the charge, accounting for nearly 98% of Udyam Portal registrations. These are the engines of job creation and technological innovation, fostering incremental growth. They are essential for economic development, providing vital employment opportunities.
Presently, limited access to financing and complex regulations is a challenge to MSMEs, hence, there is a need for nuanced government framework that acknowledges the sector’s unique needs. Expanding the MSME definition can be a positive step. MSMEs’ adaptability, due to their human-centric nature, allows them to embrace circular economy models. Well-researched government programs, focused on geographically clustered MSMEs, could facilitate this. Moving forward, aligning state and national MSME laws is crucial. Alongside promoting new businesses, initiatives should ensure existing MSMEs thrive. Regulators should look to consider non-financial support beyond tax breaks and subsidies”
Mr. Sachin Alug, CEO, NLB Services
“Home to 633.9 lakh enterprises, India has the strongest growing cohort of Micro, Small & Medium Enterprises, generating mass-scale employment across India, especially in Tier II and Tier III regions. Today, small businesses which comprise 96% of industrial units are the second largest employment generator in the country. Overall the MSME ecosystem contributes to over 33% of the GDP, driving 62% of the employment on the domestic front. However, the average contribution of MSMEs in employment generation across other emerging economies stands at 77%, indicating untapped potential that can be explored in India.
Currently, the MSME sector employs about 120 million and by 2025 the sector is expected to generate over two lakhs jobs. The slew of new job opportunities will span across the services sectors and manufacturing sectors, both across urban and rural India. Incidentally, many emerging industries under the MSME umbrella like e-commerce, logistics, and supply-chain are also expected to witness a surge in new employment.
Driven by the surge in digitization and the post-pandemic shift in the workforce, MSMEs will witness an increased demand for roles in construction, manufacturing, transportation, and supply-chain, etc. The majority of the new roles will emerge across states like Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, and Telangana.
MSMEs are also playing a critical role in bridging gender parity, especially in fostering entrepreneurship. On the one hand, women-led enterprises stand at 20.44% of micro-businesses, 5.26% of small businesses, and 2.77% of medium businesses. Incidentally, compared to male-owned MSMEs, women-led MSMEs have registered better growth in income. However, there is significant potential to expand male to female ownership ratio in this ecosystem. Over the next 5 years, we expect another 20-25% surge in women-led MSMEs, which will further complement job creation.
To augment the potential of MSMEs in the economic landscape, a dedicated focus is required to promote regional industrial distribution, foster industrial development, simplify compliance & operations, optimize costs, and improve financial access. MSME’s pivotal role in employment, GDP, and exports highlights the need for targeted policies and initiatives to maximize their potential.”
Ravi Goel, Chief Business Officer, RapidShyp
“We recognise the vast potential of MSMEs to be a key driver of our nation’s economic progress in the next few years. They are on the path to contribute to over 50% of the country’s GDP by 2030. MSMEs lean heavily on the operational efficiency of their third-party logistic partners to strengthen market competitiveness and boost profitability. For MSMEs, fragmented supply chains, proper warehousing, and transportation infrastructure often become the bottlenecks in the growth trajectory. We believe creating great customer experiences right from the first interaction with buyers to the final delivery of products is crucial to their success. Committed to empowering these powerhouses, RapidShyp plays a pivotal role in removing entry barriers for MSMEs and enabling them to thrive through tech-enabled shipping solutions and AI-based tools, serving as their growth partners to keep pace with global growth trends.”
Rajesh Shet, CEO of- SahiBandhu
At SahiBandhu, we recognise MSMEs’ unwavering spirit and immense contribution to our nation’s economy and social development. As the backbone of the Indian industry, MSMEs foster innovation, generate employment opportunities, and ensure the accessibility of essential goods and services across the country.
We understand that MSMEs often face financial challenges. Therefore, Gold loans are one of the choices for MSMEs, providing a secure way to use assets for growth. SahiBandhu offers Gold Loan services through its banking partners with flexible repayment options to support MSMEs’ ambitions. And we stand firmly committed to empowering MSMEs by expediting access to financial resources.
SahiBandhu Gold Loans reaffirms its unwavering commitment to empowering MSMEs on this International MSME Day. We celebrate their achievements and pledge to continue working collaboratively to address their challenges and fuel their aspirations. Together, we can build a stronger, more inclusive, Aatmanirbhar Bharat, driven by the entrepreneurial spirit of our MSMEs.
We salute the relentless spirit and significant contributions of MSMEs to India’s economic fabric and societal progress. As the cornerstone of the Indian industry, MSMEs are pivotal in fostering innovation, bridging the employment gap, and ensuring the widespread availability of vital goods and services.
We acknowledge the financial hurdles MSMEs frequently encounter. Gold loans emerge as a stellar financial instrument for MSMEs, offering a secure method to leverage assets for expansion and stability. SahiBandhu’s Gold Loan services and our adaptable repayment schemes are designed to bolster MSMEs’ growth endeavours. Our commitment to fortifying MSMEs is steadfast, as we accelerate their access to financial support.
On International MSME Day, SahiBandhu Gold Loans reiterates its dedication to the empowerment of MSMEs. Together, we aim to build a strong, self-reliant India, driven by the dynamism of MSMEs. Gold Loans are key to not only financial support but also to the job market’s growth and our economic self-sufficiency.
Mr. Dilip Modi, Founder & CEO of Spice Money
“On World MSME Day, we celebrate the indomitable spirit of our Micro, Small, and Medium Enterprises (MSMEs), the true drivers of India’s economic growth. They are not just businesses; they are the heartbeat of our economy, fueling innovation, creating jobs, and fostering inclusive development.
As we strive towards the $5 trillion GDP milestone, MSMEs will play a pivotal role in shaping India’s economic future. The 4.57 crore MSMEs registered on the Udyam portal, including the Udyam Assist Platform (UAP), stand as a testament to the sector’s resilience and potential. These enterprises have already generated 19.5 crore jobs, with over 4.3 crore women contributing significantly to the workforce. The support of NBFCs, fintechs, and banks is and will always be crucial in ensuring that these businesses reach their full potential, and have access to the financial resources they need to grow and thrive.
Spice Money recognizes the pivotal role that MSMEs and Nanopreneurs play in driving economic growth. In line with this, we are committed to supporting them through various initiatives, such as the zero investment program, which allows rural entrepreneurs to be a part of the Spice Money Adhikari network completely free of cost. Our extensive network of 14 lakh Nanopreneurs/Adhikaris stands as a testament to our dedication to creating entrepreneurship opportunities in emerging India. To further assist these entrepreneurs, we offer tailored loan programs that provide them with the capital needed to invest in their businesses, purchase inventory, and expand their operations. Spice Money is not only supporting these entrepreneurs but also actively creating opportunities and fostering economic growth in emerging India.
Looking ahead, we are optimistic about the future of MSMEs in India. As we await the upcoming budget, we expect the government to continue its efforts in promoting entrepreneurship, skill development, and financial inclusion. With these continued efforts, we are confident that MSMEs will continue to thrive, driving innovation, creating jobs, and shaping India’s economic landscape for years to come.”
Mr. Tarun Singh, MD, Highbrow Securities
“It’s important to focus on small and medium-sized enterprises to achieve the UN Sustainable Development Goals since they play a crucial role in the global economy. They provide 70 percent of global employment, offering opportunities to a diverse workforce, including young, older, and less-skilled workers. Neglecting SMEs puts our social, economic, and environmental progress at risk. Supporting these enterprises is not just economically wise but also morally necessary, as overlooking them threatens a country’s stability and self-reliance.
Similarly, SMEs are critical agents in transitioning toward a circular economy, advocating for responsible production and consumption. Their sustainable practices and innovation not only enhance environmental stewardship but also promote socio-economic well-being. Consequently, bolstering SMEs is fundamental for developing a resilient and inclusive global economy.”
Harjit Singh – MD, Tata Teleservices
“MSMEs have been instrumental in driving economic and social growth by providing employment opportunities, fostering entrepreneurship and contributing significantly to GDP.
The evolving digital market landscape requires MSMEs to embrace a ‘digital first’ ecosystem for long-term sustainability and growth. By harnessing technology effectively, these enterprises can enhance their competitive edge and build resilience against market fluctuations and business uncertainties. As the country continues its growth trajectory, MSMEs will undoubtedly remain vital, powered by the transformative potential of technology.”
Vishal Rally – Sr. Vice-President- Product and Marketing, Tata Teleservices
“MSMEs play pivotal role in driving country’s economic growth, creating employment opportunities while nurturing local communities. With digitalization advancing at an incredible pace, Indian MSMEs have achieved greater efficiency, maximized growth, and expanded market reach with the power of digital transformation. At Tata Tele Business Services (TTBS), we take pride in the fact that we are focused on empowering MSME segment by democratising technology and making them future-ready by providing advance digital solutions that drive agility, scalability, and unparalleled efficiency.”
Pravir Dahiya- CTO, Tata Teleservices
“In today’s digital world, technology has been playing a vital role in shaping the growth journey of MSMEs. With the aid of digital solutions, enterprises have been elevating their overall performance, staying at the forefront of innovation, and earning a competitive advantage. This MSME day, let’s celebrate the role of micro, small, and medium-sized enterprises in driving progress as they continue to harness the power of technology and unlock new potential. At TTBS, we are committed to providing robust digital infrastructure to empower MSMEs to compete on a global scale.”
Joyjeet Bose – Sr. Vice- President, Tata Teleservices
“In today’s digital age, it’s critical for MSMEs to embrace technological advancements and improve digital literacy to enhance operational efficiency and expand their market presence. It is also pertinent for MSMEs to continuously Dream for simplification: how they want their business processes to be simplified, have more customer friendly operations and adopt nimble – Do it yourself (DIY) solutions . Once MSMEs dream what they want then technology can be worked around to give the desired solution. Today technology can help everyone, provided they can dream what they want out of technology. At TTBS, we recognize the pivotal role that digital infrastructure plays in empowering MSMEs, and we are committed to enable a digital ecosystem that champions MSMEs’ growth, resilience, and prosperity, propelling India’s economy to new heights. DREAM and make it success, never give up.”
To foster the sustainable development of MSME/SME exporters and help them compete in broader markets, Air8 is committed to providing green financing options to qualified SMEs with an environmental and social focus.
Kami Viswanathan, President, FedEx, MEISA
“It’s essential to acknowledge the crucial role Micro, Small, and Medium Enterprises (MSMEs) play in bolstering the economic strength of nations.
In India, MSMEs contribute 30% to GDP, 45% to manufacturing output, and employ 11 crore people. The government’s proactive support, including the INR 1 lakh crore corpus for interest-free loans and initiatives like the revamped credit guarantee scheme and the Skill India Digital Platform, has created a robust ecosystem for MSME growth.
At FedEx, we see ourselves as growth enablers, helping small businesses connect to global opportunities, achieve digital transformation, increase online presence, and access e-commerce shipping tools. Through our ‘SME Connect Program’, we engage directly with small enterprises, gathering valuable feedback and delivering customized and smart logistics solutions to meet their unique needs. For instance, our tailored first-mile offerings for the Howrah industrial goods cluster have enabled faster connections to the U.S. and major European markets within two to three days.”
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the Indian economy, accounting for approximately 30% of the GDP and creating 120 million jobs [Forbes Advisor India]. By transforming MSMEs, we can close the employment gap and boost economic growth. According to NASSCOM, digital adoption by MSMEs could generate up to 1.1 million jobs by 2024.
Digital transformation is critical to this evolution. With increased internet penetration, MSMEs are leveraging digital platforms to broaden their reach, invest in online marketplaces, and streamline operations, creating jobs in digital marketing, e-commerce management, IT support, data analytics, SEO, and social media marketing. The focus is to enhance their online presence and drive sales.
The rise of e-commerce has opened new employment avenues in logistics, supply chain management, and customer service. MSMEs also require marketing specialists, human resources professionals, and financial analysts, creating a variety of job opportunities.
Government initiatives like the Digital India program and MSME Digital Saksham scheme are providing training and resources to help MSMEs adopt digital tools, boosting job creation. By focusing on innovation, skill development, and technology integration, MSMEs can significantly bridge the jobs gap in India’s dynamic economy.
Small Industries Development Bank of India (SIDBI)
“On this auspicious occasion of MSME Day, we celebrate the incredible contributions of Micro, Small, and Medium Enterprises (MSMEs) to our nation’s economy. These enterprises are the backbone of our industrial ecosystem, driving innovation, creating jobs, and fostering inclusive growth across India. In India, MSMEs account for 30% of India’s GDP and over 45% of the exports.
As we reflect on the resilience and determination of MSMEs, we reaffirm our commitment to supporting their growth and prosperity. At SIDBI, we recognize the vital role MSMEs play in our supply chain and ecosystem. We pledge to continue nurturing partnerships that empower these enterprises to thrive, innovate, and succeed.
As we navigate through unprecedented challenges, let us harness the spirit of collaboration and entrepreneurship to build a stronger, more resilient MSME sector. Together, we can create a brighter future for MSMEs in India and uphold their significance in our economic landscape.
Today, as we commemorate MSME Day, we celebrate the immense impact of Micro, Small, and Medium Enterprises (MSMEs) on our economy and society. These enterprises are not just economic engines but also catalysts for innovation, employment generation, and regional development.
In India, MSMEs contribute significantly towards employment and play a crucial role in realizing our nation’s economic potential. They embody the entrepreneurial spirit and resilience that define our industrial landscape.
At SIDBI, we take pride in our association with MSMEs, recognizing them as invaluable partners in our journey of growth and success. Through collaborative efforts, we have tried to address their capacity to adapt, innovate, and thrive in diverse sectors, from manufacturing to services.
As we move forward, we shall address the challenges posed by global dynamics and technological advancements, it is imperative that we continue to support MSMEs with tailored initiatives, access to finance, skill development, and market linkages. These efforts not only enhance their competitiveness but also contribute to sustainable development goals and inclusive growth.
On this special day, let us renew our commitment to nurturing an enabling ecosystem for MSMEs, fostering a culture of entrepreneurship and harnessing digital technologies to unlock their full potential. Together, we can build a future where MSMEs flourish, driving equitable prosperity and socio-economic progress across India.”
Manish Gupta, VP-Trucks, Porter
“We acknowledge and appreciate MSME sector’s valuable contribution to our economy. On MSME Day we stand by our commitment to serve the sector with efficient and technological solution to “Build a stronger future together. Logistics and technology are the growth pillars of the industry and we at Porter converge the two to offer innovative, efficient, cost effective and sustainable logistics solutions to support and accelerate the growth of MSMEs.”
Mr. Krishna Bansal, MD & CEO, Q1 Technologies
“In celebration of MSME Day 2024, we recognize the indispensable role that MSMEs play in propelling economic growth and technological innovation. As the driving force of our economy, your resilience, creativity, and dedication are commendable. At Q1 Technologies, we are committed to supporting your journey with our technology integration solutions. Together, we can achieve a sustainable and prosperous future.”
Abhishek Singh, COO, Lendingkart
“MSMEs are the backbone of our economy, contributing significantly to the GDP, manufacturing output, and exports. They provide employment to millions, fostering entrepreneurship and innovation.
We at Lendingkart are committed to simplifying finance for MSMEs by leveraging technology to provide quick, hassle-free loans, helping MSMEs meet their financial needs and grow their businesses. We are proud to be contributors to the MSME sector, driving India’s economic growth and development.
On this MSME Day, we celebrate the unyielding spirit of MSMEs and their significant contribution to the Indian economy.”
Mr. Jasmeet Bhatia, General Manager, Impact by Honeywell, India.
Brief- Unlocking MSME Potential: Pathway to India’s $5 Trillion Economy
“India’s MSME network—currently housing 633.9 lakh enterprises—holds immense potential to drive India’s mission of becoming the third-largest global economy by 2027 and achieving Viksit Bharat by 2047. Currently contributing to 33% of India’s GDP, MSMEs have emerged as the backbone of India’s economy and are playing a critical role in propelling innovation across the country. On World MSME Day, it is crucial to acknowledge both the vast potential and the unique challenges faced by this growing sector. Despite its substantial economic capability, the MSME space faces unique challenges. Limited access to capital, smaller scale of operations, and a higher dependency on manual operations make these visionary companies come across cost, performance, and compliance issues. However, over the past decade, collaborative efforts between India Inc., the MSME industry, and governing bodies have strategically addressed the roadblocks encountered by the MSME ecosystem. Critical policy reforms have simplified credit access and compliance, and industry-developed solutions have optimized costs and operations for MSMEs, enabling them to grow exponentially.
Understanding the potential of the sector, Honeywell also curated an exclusive brand for the mid-segment in India. Driven by the mantra of ‘local for local,’ we at IMPACT by Honeywell have curated cutting-edge solutions tailored specifically for India’s mid-segment, helping them modernize and operate at the maximum possible efficiency, without financial pressures. We are confident that with the right support and collaboration among the government, private enterprises, and MSMEs, India can effectively harness the potential of this sector, driving sustained economic growth and innovation towards becoming a $5 trillion economy.”
