Digital portals, AI adoption and quality-focused growth to strengthen India’s MSME ecosystem and accelerate the journey towards Viksit Bharat 2047.
Key Highlights
- • Vice-President C. P. Radhakrishnan said MSMEs are the backbone of India’s economic growth and entrepreneurship.
- • Launched PMEGP 2.0, Samadhaan 2.0, MSME Global Mart 2.0 and several other digital initiatives.
- • Called for greater technology and AI adoption, saying innovation should be seen as an opportunity, not a threat.
- • Stressed that quality, continuous learning and easier access to finance are essential for MSME growth.
- • Urged every micro enterprise to aspire to become a small enterprise, and every small enterprise to grow into a medium enterprise.
News Story
New Delhi, June 27: Vice-President C. P. Radhakrishnan on Saturday said India’s vision of becoming a developed nation by 2047 will be driven by a strong and dynamic Micro, Small and Medium Enterprises (MSME) sector. Addressing the International MSME Day 2026 celebrations at Dr. Ambedkar International Centre in New Delhi, he described MSMEs as the foundation of entrepreneurship, innovation and employment generation.
Highlighting his own entrepreneurial journey, the Vice-President shared how he started a small garment business after graduation with financial support from his father. He said perseverance, continuous learning and dedication helped him build a successful knitwear export business before entering public life. He encouraged young entrepreneurs not to be discouraged by initial challenges and instead focus on learning and improving their skills.
Emphasising the importance of quality, he said businesses should never compromise on standards while reducing costs. According to him, sustainable success comes from delivering better quality products and services than competitors.
The Vice-President also called for greater ambition within the MSME sector, urging every micro enterprise to grow into a small enterprise and every small enterprise into a medium-sized business. He stressed that easier access to finance, policy support and investments are critical for enabling this transition.
Referring to the United Nations theme, “Human-Centered Entrepreneurship in an AI-Driven Future,” he said Artificial Intelligence and emerging technologies should be embraced as growth opportunities rather than feared. Drawing a parallel with the introduction of computers, he noted that technological change ultimately creates new employment opportunities and improves productivity.
On the occasion, the Vice-President launched several digital initiatives, including PMEGP 2.0 Portal, Samadhaan 2.0 Portal, Procurement and Marketing Support (PMS) 2.0 Portal, MSME Global Mart 2.0 Portal, Testing Centre Portal, the multilingual enablement initiative of the Ministry of MSME and the MSME Idea Hackathon 6.0. He also released e-books on the Self-Reliant India (SRI) Fund and PM Vishwakarma Scheme, while launching new products from the Khadi and Village Industries Commission (KVIC).
The event was attended by Union MSME Minister Jitan Ram Manjhi, Minister of State Shobha Karandlaje, senior government officials, industry leaders and entrepreneurs.
