Bhopal: Speaking at the Abhyudaya Industry Leadership Conclave 2026, session titled, “Role of MSMEs in Atmanirbhar Bharat” curated by Organiser Weekly, subject experts and economists asserted that MSMEs are the defining factor and engines of India’s economic growth. The Micro, Small and Medium Enterprises aid the prosperous and auspicious development of India. MSMEs add value to India’s growth story. They render economic direction and act as engines of economic nationalism as MSMEs are beacon of India’s cultural and grassroot ethos. The panelists thus hailed MSMEs as the pivotal pillar in the economic trajectory of India who fuel growth momentum.
Atmanirbharata is the solution to global trade hiccups
Speaking at the session, “Role of MSMEs in Atmanirbhar Bharat”, Ashwani Mahajan, Economist and National Co-Convener of Swadeshi Jagaran Manch reiterated that solution to not just India’s problems but to the world economic problems lies in the Micro, Small and Medium Enterprises of India. Atmanirbharata or the self-reliance of the Indian MSMEs is the only solution to the global economic problems in an era which is marked with weaponisation of trade, supply chains, tariffs etc, Ashawani Mahajan asserted.
In an era where even the global payment systems are also weaponised and are utilised to fulfill geopolitical motives or hegemonic aspiration, a strong domestic manufacturing ecosystem is the only solution. MSMEs indeed have this potential to demarcate the growth trajectory of India to protect the domestic economy from global disruptions, Ashwani Mahajan further added. He also hailed that the potential of MSMEs were not realised and harnessed efficiently due to license raj in the initial years of Independence.
Later during the 1990s, MSMEs were adversely affected due to dumping of foreign goods as an impact of LPG reforms and globalisation, the economist affirmed. However, now the time has arrived and the potential of MSMEs have been fully realized to make it a vital partner and integrate it into India’s growth story. India is fully equipped and prepared to be a major stakeholder in the 4th industrial revolution and MSMEs have a key role in this path, Ashwani Mahajan added. Thus, facilitating a strong domestic manufacturing network is the only solution to the global economic shocks and Indian MSMEs will indeed add value to build a resilient global supply chain, Ashwani Mahajan finally concluded.
MSMEs democratize India’s growth story
Speaking at the session, another panelist, Sandeep Singh, Author and Independent Director explained how the MSMEs are an emblem of India’s culture and Dharmic ethos and how they continuously protect the Dharmic principles of India along with ensuring economic growth. All the traditional commodities such as carpets, shawls, wooden and sustainable toys, traditional artifacts and handicrafts that reflect India’s rich cultural heritage are manufactured in the MSMEs, Sandeep Singh asserted.
He further hailed the MSMEs as shock observers. Various economic reforms such as GST rationalisation, demonetisation, covid era economic disruptions were successfully absorbed by the MSMEs. They keep the economy running irrespective of the global volatilities by rendering employment and fueling economic growth. Sandeep Singh further explained how MSMEs democratize India’s growth story as they are spread in hinterlands, rural areas, thus providing employement and empowering every man at the grassroots. They boost the growth momentum even in the interior regions where establishment of large industries is not feasible.
The government and the policymakers should thus not deem the MSMEs as just the beneficiaries of the policies or schemes but MSMEs are indeed the partners in growth and are in fact the nervous system in the economic and comprehensive journey of India, Sandeep Singh concluded.
