Nagpur: In a significant stride toward shaping India’s development blueprint, the Indian Institute of Management (IIM) Nagpur hosted a high-impact roundtable titled “MSME & Viksit Bharat @ 2047”, focusing on the strategic role of Micro, Small, and Medium Enterprises (MSME) in transforming India into a developed economy by 2047.
Led by Shantanu Srivastava, Managing Director of Ishan International and Founder of the Ishan Foundation, the session outlined an ambitious growth path for the MSME sector. Srivastava presented a detailed roadmap, asserting that with focused reforms, India’s MSMEs — already contributing 32% to GDP and 45% to exports — can grow at over 15% annually. He stressed improving startup success rates, reducing bureaucratic friction, and aligning the sector more closely with government support schemes.
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Dr. Bhimaraya Metri, Director of IIM Nagpur, echoed these views, emphasizing MSMEs as the backbone of India’s “Viksit Bharat” vision. He cited India’s rise from a $1 trillion economy in 2007 to $4 trillion in 2024 and projected its ascent to the world’s third-largest economy by 2027-28. Dr. Metri also highlighted Nagpur’s potential as a future net-zero city, integrating sustainability with economic expansion.
The roundtable brought together over 30 key stakeholders — from government, industry, finance, and academia. Discussions revolved around regulatory simplification, enhanced credit access in smaller cities, practical implementation of university research, and digital transformation of MSME operations.
Participants called for a centralized support mechanism to streamline subsidies, address tax inconsistencies, boost awareness of funding tools, and foster mentorship networks. Suggestions also included expanding the PLI scheme and introducing policy-testing frameworks with real-time feedback.
In a symbolic conclusion, Srivastava introduced the concept “Bharat to the Power of Infinity (Bharat^∞)”, reflecting the sector’s unlimited potential to drive inclusive growth. He announced plans to replicate this initiative across India’s urban centres, aiming to align grassroots entrepreneurship with the nation’s long-term development agenda under the Viksit Bharat 2047 mission.
