Moving beyond subsidies and incentives, the government must build an agile and secure ecosystem to enable MSMEs, India’s economic backbone to thrive, said Priyank Kharge, Karnataka’s Minister for Rural Development and Panchayat Raj, IT and BT.

At the 4th edition of businessline’sMSME Growth Conclave, held in Bengaluru, policymakers, entrepreneurs, and industry leaders came together to explore the evolving role of MSMEs in India’s growth story.

Kharge emphasised the need to reduce dependency on foreign firms. “If we can manufacture at scale and at affordable prices, the domestic market itself is large enough,” he said.

Echoing this sentiment, Ananth Narayanan, Founder & CEO of BRND.ME, noted that entrepreneurship in India is entering a “golden phase,” citing greater global opportunity and increasing availability of risk capital.

The panel discussion on defence manufacturing further explored this momentum. Lt Col Velan, CEO, Elena Geo Systems, added that India must move towards global standards at par with the EU and the US. The discussion was moderated by Venkatesha Babu, Resident Editor, businessline.

In a candid fireside chat with Raghuvir Srinivasan, Editor of businessline, Srinivasagopalan Rangarajan, CMD, Data Patterns India, remarked that defence remains a tough sector. “Every end customer is the government, and the process is entirely government-controlled. That’s a tough environment to survive in.”

Supply chain shift, not just China+1

A session on MSMEs and Make in India highlighted the need for stronger public-private collaboration, better access to capital, and policy stability to enhance global competitiveness.

Vijay Peri, VP – India Industrials at Zetwerk, told M Ramesh, Consulting Editor, businessline, “India isn’t just an alternative to China. While China+1 gave us visibility, the current geopolitical climate is giving us urgency. Global players are actively diversifying supply chains.”

Rohit Punja, Administrator, Nitte Education Trust, closed the conclave by underlining the role of MSMEs in building India’s industrial future.

The conclave was held in association with Nitte Deemed to be University, and supported by NABARD, Canara Bank, Karnataka Soaps and Detergents Ltd, SSVM Institutions Coimbatore, Tally, Karnataka Milk Federation, Mysore Sales International Ltd, Milky Mist, Karnataka Udyog Mitra and Karnataka Industrial Areas Development Board. Puravankara served as the Office Space Partner, TransUnion CIBIL as the Insight Partner, and FICCI Karnataka as the Industry Partner.

Published on June 25, 2025