By Chandan Singh | Page 3 News Worldwide | New Delhi
New Delhi: India’s Micro, Small and Medium Enterprises (MSMEs) are set to evolve from being the backbone of the economy to becoming its primary growth catalyst as the country moves towards the vision of Viksit Bharat 2047, according to Bharat Khera, Secretary, Ministry of MSME.
Speaking during an exclusive edition of SMEStreet ViewPoint with Dr Faiz Askari on the occasion of World MSME Day 2026, Khera said the sector will play a pivotal role in driving innovation, manufacturing excellence, employment generation and integration with global value chains.
Highlighting the sector’s rapid formalisation, he said over 8.6 crore enterprises are now registered on the Udyam Portal, enabling wider access to government schemes, institutional finance and policy support.
Emphasising the importance of technology, Khera described Artificial Intelligence (AI) as both a major disruptor and an enabler, stating that MSMEs adopting AI and advanced technologies will become more productive and globally competitive. He also highlighted the Ministry’s expanding Technology Centre network, offering support in AI, robotics, IoT, advanced manufacturing, product design and skill development.
Addressing the issue of delayed payments, Khera said the government is strengthening payment discipline through the MSME Samadhaan Portal, Online Dispute Resolution mechanisms and mandatory adoption of the TReDS platform. He added that Credit Guarantee schemes and the Self-Reliant Fund are improving MSMEs’ access to debt and equity capital.
During the interaction, SMEStreet also announced its nationwide Campus to Commerce initiative, aimed at bridging academia and industry by connecting students, universities, startups and MSMEs through mentorship, entrepreneurship and leadership engagement.
SMEStreet Founder and Editor Dr Faiz Askari said the initiative seeks to prepare young talent for India’s evolving entrepreneurial ecosystem while reinforcing the role of media as an enabler of business growth and innovation.
The discussion concluded with optimism that greater formalisation, technology adoption and global integration will transform Indian MSMEs into globally competitive enterprises, accelerating India’s journey towards becoming a developed economy by 2047.
