MSMEs drive India’s growth engine: Empowering through innovation and digital transformation

Updated: Nov 15, 2024 10:36:51 AM IST India’s ambitious vision of becoming the world’s third-largest economy by 2027 and a fully developed nation by 2047 hinges on the strength of its small businesses. At the heart of this transformation are micro, small, and medium enterprises (MSMEs), which contribute ~30% to the nation’s GDP and are anchoring the economy with employment and exports. As India embraces its entrepreneurial spirit and innovative edge, expanding these businesses will be key to driving prosperity at the grass-root level as well as growth for the macro economy. Entrepreneurial Spirit in the Oxford of the East Forbes India, in partnership with PhonePe Payment Gateway (PhonePe PG), hosted the fourth pre-event huddle of the marquee Small Business Summit in Pune, a city known for its burgeoning MSME ecosystem. Pune, which is home to over 4.5 lakh small enterprises across sectors like food processing, textiles, and services, exemplifies India’s entrepreneurial drive and dynamism. Themed “Pune Means Progress: Embracing New Innovations in India’s MSME Capital”, the event spotlighted strategies for sustainable growth and digital transformation through insightful panel discussions, keynote addresses, and a ceremony honouring Pune’s pioneering entrepreneurs. Blending Tradition and Innovation Evolving from its roots in automotive […]

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