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New Delhi, June 27. Vice President C.P. Radhakrishnan on Saturday said micro, small and medium enterprises (MSMEs) are the backbone of India’s economy and the goal of ‘Develop India 2047’ cannot be achieved without a strong, innovation-based and tech-enabled MSME sector. He called upon the entrepreneurs to adopt quality, innovation and modern technology and said that this is the basis of long-term success.

Addressing the International MSME Day-2026 celebrations organized at the Dr. Ambedkar International Centre, New Delhi, the Vice President said that MSME is not just an economic sector, but a symbol of the courage of first generation entrepreneurs, the aspirations of the youth, the determination of women entrepreneurs and the struggle and success of millions of small businessmen.

Share your entrepreneurial life experience

Sharing the experience of his entrepreneurial life, the Vice President said that after completing his graduation, he started a small clothing business with the financial support of his father. Facing initial challenges, she built a successful knitwear export business through continuous learning and hard work. He told the youth that instead of being afraid of initial difficulties, they should learn their work with full dedication and try to move forward continuously.

There can be no compromise on quality in the era of global competition.

C.P. Radhakrishnan said that in the era of global competition, there can be no compromise on quality. Reducing costs is important, but it is even more important to ensure that the quality of products and services remains superior to competitors. He advised every micro enterprise to aim at becoming a small enterprise and every small enterprise to become a medium enterprise.

He also stressed on universal registration of MSMEs, saying that comprehensive registration will provide accurate data to the government and more effective policies can be formulated on that basis. He appreciated the efforts being made by the government to connect MSMEs with the formal economy, increase the availability of bank credit and adopt new technologies.

There is a need not to be afraid of AI and new technologies, but to convert them into opportunities.

Referring to this year’s UN theme ‘Human-centred entrepreneurship in an AI-driven future’, he said that Artificial Intelligence (AI) and new technologies should not be seen as threats, but as new opportunities. He said that just as computers created new jobs and possibilities, similarly AI will also open new doors of development.

Honor of National Small Industries Corporation

During the program, the Vice President honored National Small Industries Corporation (NSIC) for getting the status of ‘Schedule A’ company. He launched the PMEGP 2.0 Portal, Samadhan 2.0 Portal, Procurement and Marketing Support (PMS) 2.0 Portal, MSME Global Mart 2.0, Testing Center Portal and Multilingual Facilitation Initiative of the Ministry.

MSME Idea Hackathon 6.0 launch

On this occasion, MSME Idea Hackathon 6.0 was launched and e-books on Self-reliant India (SRI) Fund and PM Vishwakarma Yojana were also released. Union MSME Minister Jitan Ram Manjhi, Minister of State Shobha Karandlaje, senior officials of the ministry and industry representatives were also present at the ceremony.