Vice President Highlights MSMEs’ Role in Building Viksit Bharat, Launches New Digital Platforms

New Delhi, June 27: Vice President C. P. Radhakrishnan on Friday described Micro, Small and Medium Enterprises (MSMEs) as a key driving force behind India’s vision of becoming a developed nation by 2047, saying the sector represents the aspirations of young entrepreneurs, women-led businesses and millions of small enterprises across the country.

Speaking at the International MSME Day 2026 celebrations held at the Dr. Ambedkar International Centre in New Delhi, the Vice President stressed that innovation, quality and technology adoption are essential for the long-term growth of MSMEs. He said businesses must focus on maintaining high standards while finding ways to improve efficiency and reduce costs without compromising product quality.

Sharing his own entrepreneurial journey, Radhakrishnan recalled starting a small garment business after graduation with financial assistance from his father. He said dedication, continuous learning and perseverance helped him build a successful knitwear export business before entering public life. Encouraging aspiring entrepreneurs, he urged them to remain committed to learning and not be discouraged by initial challenges.

Reflecting on his tenure as Chairman of the Coir Board, the Vice President said he had little prior knowledge of the industry but achieved success by understanding the sector in depth and working closely with exporters. He noted that determination and willingness to learn are crucial for business success.

Calling for faster growth within the MSME sector, he said every micro enterprise should strive to become a small enterprise, while small enterprises should aim to grow into medium-sized businesses. He also emphasized the need for easier access to finance, supportive government policies and increased investments to help enterprises expand.

The Vice President urged the Ministry of MSME to encourage universal registration of enterprises, stating that a stronger database would enable more effective policymaking and targeted support for businesses.

Referring to the United Nations theme for this year’s MSME Day, “Human-Centered Entrepreneurship in an AI-Driven Future,” Radhakrishnan said artificial intelligence and emerging technologies should be viewed as opportunities rather than threats. Drawing parallels with the arrival of computers, he said technological advancements often create new employment opportunities and contribute to economic growth.

He also praised the Khadi and Village Industries Commission (KVIC) for its contribution to sectors such as khadi and honey production, adding that traditional industries must continue embracing innovation to remain competitive in global markets.

During the event, the Vice President felicitated the National Small Industries Corporation (NSIC) on being elevated to the status of a Schedule ‘A’ company. He also launched several digital initiatives, including the PMEGP 2.0 Portal, Samadhaan 2.0 Portal, Procurement and Marketing Support (PMS) 2.0 Portal, MSME Global Mart 2.0 Portal, Testing Centre Portal, and a multilingual enablement initiative of the Ministry of MSME. The MSME Idea Hackathon 6.0 was also unveiled, along with e-books on the Self-Reliant India (SRI) Fund and PM Vishwakarma Scheme, besides the launch of new KVIC products.

Union Minister for MSME Jitan Ram Manjhi, Minister of State Shobha Karandlaje, KVIC Chairman Manoj Kumar, MSME Secretary Bharat Khera, senior government officials, industry representatives and entrepreneurs attended the programme.