Dr Ranjeet Mehta talks about India’s MSMEs and Economic landscape
PHDCCI CEO and Secretary General Dr. Ranjeet Mehta discusses MSMEs, predicts India becoming a $34 trillion economy by 2047, and shares insights on the rupee slide. .
PHDCCI CEO and Secretary General Dr. Ranjeet Mehta discusses MSMEs, predicts India becoming a $34 trillion economy by 2047, and shares insights on the rupee slide. .
Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025-26, detailed the roadmap for India's continued economic expansion, placing emphasis on agriculture, micro, small, and medium enterprises (MSMEs), investment, and exports.
The Economic Survey 2025 has highlighted challenges in the regulatory environment for the MSMEs. It said the regulatory compliance burden holds back formalisation and labour productivity, limits employment growth, chokes innovation and depresses growth.
Industry experts and leaders were of the opinion that India has all the qualities of becoming the leading manufacturing hub in the world and that we just need to respect natural resources and act with responsibility.
It is heartening to note that the Government of West Bengal has adopted a new kind of economic model since the last couple of years that is showing excellent, all-inclusive and sustainable results.
While trying to understand how MSMEs can grow fast and create jobs – India’s foremost economic challenge we came across a remarkable example. Mr Jain, owner of an apparel firm from Mumbai turned a modest Rs 15 crore operation into a Rs 250-crore powerhouse in less than eight years.
In a significant step to give a boost to the startups, India and Australia collectively have invited applications from start-ups and MSMEs of both the countries.
This MoU will help MSMEs and emerging companies in the defence sector to scale-up their business operations, explore new markets and fund their R&D activities, it said.
He mentioned the importance of MSME related developments and their integration with the Global Value Chains.
It said that the initiatives highlighted in the budget will fortify the backbone of our economy, driving innovation, job creation, and sustainable growth.
