Push For MSMEs Required In Global Value Chain System: IAS Vimala

In a recent address at the Assocham Maharashtra MSME Sammelan, IAS R. Vimala emphasized the global significance of Indian micro, small, and medium enterprises (MSMEs). Vimala highlighted that MSMEs play a crucial role in addressing regional disparities, ensuring financial inclusion, and boosting productivity. She praised MSMEs for generating employment, aiding industrialization, and contributing to the value chain through the production of goods and supply of raw materials.

During the event, Ramanand N. Shukla from the Quality Council of India discussed India's demographic advantage and favorable government policies, suggesting an opportune time for MSME expansion. He emphasized the need for MSMEs to become more resilient and competitive globally, given India's marginalized position in the global value chain.

Jay Kumar Gupta, representing the Small Industries Development Bank of India (SIDBI), stressed the importance of providing MSMEs with transparent lending terms and solutions. He highlighted the necessity of UDYAM registration to formalize the large number of MSMEs operating in the informal sector, enabling them to access government benefits and subsidies.

Sushma Paul Berlia, Chairman of Assocham, National Council on Business Facilitation and Global Competitiveness, and Chairman of Apeejay Stya Group, shared the goal of increasing MSME exports by 60%. She suggested that MSMEs should integrate into global value chains (GVCs) by collaborating with large exporting firms. This collaboration, she explained, would enable MSMEs to adopt new technologies, reduce costs, enhance product competitiveness, and expand their market reach. Berlia envisioned this as a path toward making India self-reliant and achieving a USD 5 trillion economy, positioning the country as a global manufacturing and operations hub.