New Delhi, Jun 27: Vice President C. P. Radhakrishnan has underscored the pivotal role of the Micro, Small and Medium Enterprises (MSME) sector in driving India’s economic growth, highlighting its contribution to employment generation, innovation, and regional development.
Speaking at a national MSME conclave, Radhakrishnan said the sector forms the backbone of India’s economy, accounting for nearly one-third of GDP and providing livelihoods to millions. He emphasized that empowering MSMEs with technology, finance, and market access is essential to achieving the vision of Viksit Bharat 2047.
The Vice President noted that MSMEs are crucial in promoting inclusive growth, as they bridge rural and urban economies, nurture entrepreneurship, and strengthen supply chains. He urged policymakers, industry leaders, and financial institutions to collaborate in creating a supportive ecosystem for small businesses.
Radhakrishnan also stressed the importance of digital transformation, skill development, and sustainable practices in ensuring the sector’s resilience. He said that with the right support, MSMEs can become global champions, boosting exports and enhancing India’s competitiveness.
His remarks come at a time when the government has rolled out several initiatives to strengthen MSMEs, including credit guarantees, cluster development programs, and incentives for adopting green technologies.
