Micro, Small and Medium Enterprises (MSMEs) remain India’s most powerful platform for employment generation and inclusive economic growth, Union MSME Minister Jitan Ram Manjhi said, underscoring the sector’s central role in the country’s long-term prosperity.
Speaking during an interaction with MSME beneficiaries invited as special guests to witness the Republic Day Parade 2026, the Minister highlighted that no other sector matches MSMEs in their ability to create jobs at scale while driving grassroots economic development.
“If India is to become prosperous, there is nothing more effective than MSMEs,” Manjhi said, noting that the sector plays a decisive role in strengthening livelihoods, entrepreneurship, and regional development across the country.
Backbone of growth after agriculture
MSMEs are widely recognised as the second-largest contributor to employment after agriculture and form a critical pillar of India’s economic structure. According to the Minister, the sector not only supports industrial growth but also helps distribute economic activity beyond major urban centres, strengthening rural and semi-urban economies.
By fostering entrepreneurship at the local level, MSMEs help convert skills into sustainable livelihoods while creating supply chains that support larger industries and exports.
Showcasing diversity through flagship schemes
The Republic Day Parade invitation reflected the diversity and scale of India’s MSME ecosystem. Beneficiaries from multiple government schemes were invited, including artisans under the PM Vishwakarma Scheme, entrepreneurs supported through the Self Reliant India (SRI) Fund, women artisans under the Mahila Coir Yojana, and trainees from the Khadi Vikas Yojana.
Addressing the gathering, Minister of State for MSME Shobha Karandlaje described the event as a reflection of “Mini India,” bringing together beneficiaries from different regions, cultures, and trades.
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She emphasised that continuous training, skill development, and targeted schemes are being designed to ensure MSMEs can grow sustainably and move up the value chain.
Schemes aimed at skill, scale and self-reliance
Government initiatives such as the PM Vishwakarma Scheme and the SRI Fund are designed to offer end-to-end support—ranging from skill training and financial assistance to market access and equity funding.
The PM Vishwakarma Scheme focuses on strengthening 18 traditional trades by modernising skills and improving productivity, while the SRI Fund aims to provide equity support to growth-oriented MSMEs aligned with the vision of Aatmanirbhar Bharat.
Senior officials from the Ministry of MSME reiterated that sustained engagement with beneficiaries is essential to ensure that policy support translates into real economic outcomes on the ground.
MSMEs at the centre of India’s growth story
As India pushes towards higher growth and employment generation, policymakers continue to position MSMEs as the foundation of economic resilience. With the right mix of credit access, skill development, and policy stability, the sector is expected to play a defining role in shaping India’s future workforce and entrepreneurial landscape.
For the government, the message is clear: strengthening MSMEs is not just about supporting small businesses—it is about building a more inclusive, employment-driven growth model for the country.