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Business
MSMEs to Power India's Growth Towards 'Viksit Bharat 2047': MSME Secretary
✍️ Smestreet In
🗓 28 Jun 2026, 03:32 AM
👁 2
Micro, Small, and Medium Enterprises (MSMEs) are set to become the primary drivers of India's economic expansion, transitioning from being the economy's backbone to a catalyst for growth by 2047, according to MSME Secretary Bharat Khera.
Micro, Small, and Medium Enterprises (MSMEs) in India are projected to play a pivotal role in driving the nation's economic progress towards the vision of 'Viksit Bharat 2047'. MSME Secretary Bharat Khera articulated that the sector is evolving beyond its traditional role as the backbone of the economy to become a primary catalyst for growth.
Speaking on World MSME Day 2026, Mr. Khera highlighted that this evolution will be fueled by increased integration into global value chains, enhanced innovation, and significant employment generation. He noted the remarkable formalisation within the sector, with over 8.6 crore enterprises now registered on the Udyam Portal, improving their access to finance and government support.
The Secretary emphasized the critical importance of technology adoption, including Artificial Intelligence (AI), for boosting productivity and competitiveness. The Ministry is actively strengthening its Technology Centre network to provide MSMEs with access to advanced manufacturing capabilities and skill development. Furthermore, the government remains committed to addressing persistent issues like delayed payments through mechanisms such as the MSME Samadhaan Portal and the mandatory adoption of the TReDS platform.
Speaking on World MSME Day 2026, Mr. Khera highlighted that this evolution will be fueled by increased integration into global value chains, enhanced innovation, and significant employment generation. He noted the remarkable formalisation within the sector, with over 8.6 crore enterprises now registered on the Udyam Portal, improving their access to finance and government support.
The Secretary emphasized the critical importance of technology adoption, including Artificial Intelligence (AI), for boosting productivity and competitiveness. The Ministry is actively strengthening its Technology Centre network to provide MSMEs with access to advanced manufacturing capabilities and skill development. Furthermore, the government remains committed to addressing persistent issues like delayed payments through mechanisms such as the MSME Samadhaan Portal and the mandatory adoption of the TReDS platform.