Hello Mumbai National DeskÂ
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How do you view the significance of World MSME Day in recognizing the contribution of micro, small, and medium enterprises to the economy?
.Dr. Narendra Mairpady
World MSME Day is an opportunity to recognise and appreciate the immense contribution of MSMEs to the global economy, and especially to India’s growth story. MSMEs are not just business units—they are employment generators, innovators, and drivers of inclusive economic development.
As India moves towards the vision of Viksit Bharat @2047, MSMEs will be the torchbearers of this journey. To realise this vision, they need wholehearted support in every aspect—whether it is access to equity, affordable debt, technology upgradation, skill enhancement, product quality improvement, research and development, or market access both within India and globally. Celebrating World MSME Day is therefore a recognition of their contribution and a reminder of our collective responsibility to strengthen them.
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In your experience, what are the most important factors driving the growth and resilience of MSMEs today?
One of the biggest strengths of MSMEs is their flexibility. Across different sectors and industrial clusters, MSMEs have demonstrated remarkable resilience because of their lean structure, quick decision-making, and ability to adapt to changing market conditions.
Their entrepreneurial spirit allows them to innovate, customise products, and respond faster than larger organisations. This combination of agility and determination continues to be one of the strongest drivers of their growth.
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What are the key challenges currently faced by MSMEs in India, especially in the areas of finance, technology, and market access?
Dr. Narendra Mairpady
The biggest concern today is cash flow. Although there are regulations requiring payments to MSMEs within 45 days, delays still occur and significantly affect working capital and day-to-day operations.
Another challenge is the shortage of equity capital. Many MSMEs have the ambition to expand and modernise, but limited equity restricts investment in technology, automation, product development, marketing, and skilled manpower. In many cases, businesses become highly leveraged with debt, which impacts long-term sustainability.
Financial planning is another area that deserves attention. Sometimes short-term working capital is diverted towards capital expenditure, affecting the overall business cycle. Strengthening financial management practices is as important as increasing access to finance.
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How can collaboration between industry, government, and private organizations strengthen the MSME ecosystem?
Dr. Narendra Mairpady
The government has introduced several excellent schemes for MSMEs, but many businesses are either unaware of them or find the procedures too complicated to access. Greater awareness and easier implementation will significantly improve utilisation.
At the same time, corporates have an important role to play. Large companies that depend on MSMEs should work with them as long-term partners by supporting technology adoption, product development, skill enhancement, and market access.
A particularly important area is ESG compliance. As global markets increasingly prefer environmentally responsible supply chains, corporates can help MSMEs become ESG compliant and reduce carbon emissions. This collaboration will make Indian MSMEs more competitive internationally.
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What role do innovation and digital transformation play in helping MSMEs remain competitive in a rapidly changing market?
Dr. Narendra Mairpady
Innovation, technology, and fresh investment are essential if MSMEs want to become globally competitive.
Traditional manufacturing strengths must now be complemented with modern production processes, automation, digital technologies, and Artificial Intelligence. Businesses need to move from labour-intensive operations wherever appropriate towards smarter, more efficient production systems.
Equally important is becoming environmentally responsible. ESG compliance, green manufacturing practices, and carbon emission reduction are no longer optional—they are increasingly becoming market requirements for doing business globally.
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How important is mentorship and advisory support for small businesses and emerging entrepreneurs?
Dr. Narendra Mairpady
Mentorship has become more valuable than ever before. Entrepreneurs need guidance not only in finance but also in human resource development, governance, technology adoption, ESG implementation, marketing, exports, and business strategy.
Sector-specific mentors who understand the unique challenges of different industries can help MSMEs avoid costly mistakes, improve decision-making, and build lean, competitive, and globally accepted organisations.
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What policy measures or ecosystem improvements would you recommend to better support MSME development?
Dr. Narendra Mairpady
The Government and regulators have taken several positive initiatives to create a favourable ecosystem for MSMEs. The focus now should be on ensuring that these benefits actually reach businesses in a simple and effective manner.
I believe India should identify high-potential MSMEs and develop them as national champions. These enterprises should receive integrated support across finance, technology, branding, exports, and innovation.
India’s recent trade agreements also present significant opportunities. MSMEs should be enabled to leverage these agreements effectively. I strongly believe that with the right support, MSMEs have the potential to contribute nearly 50% of India’s GDP and 75% of India’s exports over the coming decade.
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How can MSMEs build stronger brands and expand their reach in domestic and global markets?
Dr. Narendra Mairpady
Building a strong brand requires consistent quality, reliability, innovation, and cost competitiveness.
MSMEs should work closely with corporates to improve product quality, adopt global standards, and strengthen brand management. At the same time, government agencies can play a larger role by promoting Indian MSME brands in international trade fairs, exhibitions, and emerging markets where Indian products have significant growth potential.
Strong brands are built through long-term trust, not just marketing.
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What message would you like to share with entrepreneurs and business leaders on World MSME Day?
Dr. Narendra Mairpady
My message is simple.
Be honest. Be ethical. Be open to change. Embrace emerging technologies without fear.
Invest in your people, create a positive workplace, and reward committed employees through better growth opportunities and ownership wherever possible. Most importantly, think beyond individual growth. Build partnerships, collaborate with others, and aspire to become globally competitive enterprises.
India has the talent and capability. Our MSMEs should aim to become Global MSME Champions.
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What is your vision for the future of MSMEs in India over the next decade?
Dr. Narendra Mairpady
My vision is ambitious but achievable.
I would like to see MSMEs contribute 50% of India’s GDP and nearly 75% of the country’s exports over the next decade. This will require stronger collaboration between government, industry, financial institutions, academia, and entrepreneurs.
If we continue investing in innovation, technology, sustainability, quality, and skill development, Indian MSMEs will not only lead domestic economic growth but also establish themselves as globally respected businesses.
That is the direction in which we must move as we march towards Viksit Bharat @2047.
