The Indian Institute of Management (IIM) Nagpur hosted a landmark roundtable discussion titled “MSME &Viksit Bharat @ 2047.” The discussion brought together an influential group of policymakers, business leaders, academicians, entrepreneurs, and financial experts to explore the critical role of Micro, Small, and Medium Enterprises (MSMEs) in realizing India’s ambition of becoming a developed nation by the year 2047.
The event was led by Shantanu Srivastava, Managing Director and CEO of Ishan International and Founder of the Ishan Foundation. Srivastava presented a compelling strategic roadmap for the MSME Sector, emphasizing its significance as the backbone of the Indian economy, contributing 32 percent of GDP and 45 percent of the nation’s exports.
He projected that with targeted policy support and ecosystem reforms, the sector has the potential to achieve an annual growth rate of over 15 percent. He also called attention to the need to increase startup success rates, improve integration with government schemes, and address long-standing structural and financial challenges that impede MSME growth.
Dr.BhimarayaMetri, Director of IIM Nagpur, reinforced the message by highlighting MSMEs as central to the Viksit Bharat vision. He pointed to India’s economic trajectory—from crossing the $1 trillion mark in 2007 to surpassing $4 trillion in 2024—as evidence of the country’s accelerating development. Referring projections from the International Monetary Fund (IMF), he noted that India will become the third-largest global economy by 2027-28. Dr.Metri also underscored Nagpur’s strategic importance as a potential net-zero city, serving as a model for sustainable urban and industrial development.
The roundtable witnessed rich discussions from over thirty distinguished participants representing diverse sectors, including government, industry, banking, journalism, and academia. The conversation delved into various pressing themes, including the urgent need to simplify regulatory compliances and streamline subsidy disbursement mechanisms.
Participants called for closing the gap between industry and academia, particularly through the practical application of university research and innovation in MSME operations. Improved access to finance in Tier 2 and Tier 3 cities was highlighted as a key enabler, along with the promotion of greater awareness around debt-equity funding options.
Additional insights focused on expanding the scope and reach of the Production Linked Incentive (PLI) scheme, addressing tax inconsistencies on subsidies, and developing policy-testing frameworks that allow for iterative feedback. The discussion also stressed the importance of implementing regular financial health assessments for MSMEs and building strong mentorship networks to support entrepreneurs and startups.
Broader systemic challengessuch as land availability, workforce skilling, logistical barriers, and digital infrastructurewere also explored. There was consensus that a centralized support mechanism could transform the sector.
In closing remarks, Mr. Srivastava introduced the phrase “Bharat to the Power of Infinity (Bharat^∞)” symbolizing the limitless potential of India’s MSME Sector to fuel inclusive and sustained national growth.
He announced that this initiative, inaugurated atIIM Nagpur, will be scaled across major Indian cities as part of a broader movement to align India’s grassroots enterprise ecosystem with the nation’s developmental aspirations under the Viksit Bharat 2047 mission.
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