Vice-President C.P. Radhakrishnan on Saturday said that quality, innovation and technology adoption will be the driving forces behind the long-term success of India’s Micro, Small and Medium Enterprises (MSMEs), asserting that the sector will play a pivotal role in achieving the vision of Viksit Bharat @2047.
Addressing the International MSME Day 2026 celebrations at Dr. Ambedkar International Centre in New Delhi, he described MSMEs as the backbone of entrepreneurship, representing the aspirations of youth, women entrepreneurs and millions of small businesses across the country.
Sharing his own entrepreneurial journey, the Vice-President recalled starting a small garment business after graduation with financial support from his father. He said perseverance, continuous learning and hard work helped him build a leading knitwear export business before entering public life. Encouraging young entrepreneurs, he urged them not to be discouraged by initial challenges and instead focus on mastering their chosen field.
Reflecting on his tenure as Chairman of the Coir Board, V-P Radhakrishnan said he overcame his lack of prior knowledge by learning every aspect of the industry and working closely with exporters, which helped the sector achieve significant growth. He stressed that reducing costs should never come at the expense of quality, adding that businesses can succeed in global markets only by delivering superior products and services while maintaining high standards.
The Vice-President also called for greater dynamism in the MSME sector, saying every micro enterprise should aspire to become a small enterprise, and every small enterprise should grow into a medium enterprise. He underlined the need for better access to finance, supportive policies and increased investment to facilitate this transition. He also urged the Ministry of MSME to encourage universal registration of enterprises to improve data quality and enable more effective policymaking.
Referring to this year’s United Nations theme, “Human-Centered Entrepreneurship in an AI-Driven Future,” V-P Radhakrishnan said Artificial Intelligence should be embraced as an opportunity rather than feared as a threat. Drawing parallels with the introduction of computers, he said technological advancements have historically created new employment opportunities and expressed confidence that AI would similarly open new avenues for growth.
Praising the Khadi and Village Industries Commission (KVIC), the V-P said the organisation has transformed sectors such as honey production and khadi garments, while emphasising that khadi must continue to evolve with changing consumer preferences and technological advancements to remain globally competitive.
On the occasion, the Vice-President felicitated the National Small Industries Corporation (NSIC) on its elevation to 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, the Ministry of MSME’s multilingual enablement initiative and the MSME Idea Hackathon 6.0. He further released e-books on the Self-Reliant India (SRI) Fund and the PM Vishwakarma Scheme, besides launching new products of the Khadi and Village Industries Commission.
Union MSME Minister Jitan Ram Manjhi, Minister of State for MSME Shobha Karandlaje, KVIC Chairman Manoj Kumar, MSME Secretary Bharat Khera, senior ministry officials, industry leaders and entrepreneurs attended the event.
