India’s Viksit Bharat journey will be powered by MSME sector: Vice Prez

New Delhi, Jun 27: Vice President of India, C. P. Radhakrishnan, Saturday attended the International MSME Day 2026 celebrations at Dr. Ambedkar International Centre, New Delhi.
Addressing the gathering, he said that Micro, Small and Medium Enterprises (MSMEs) are much more than an economic category and embody the courage of first-generation entrepreneurs, the aspirations of youth, the determination of women entrepreneurs and the resilience of millions of small businesses that have transformed challenges into opportunities. He added that India’s journey towards Viksit Bharat @2047 will be powered by a vibrant and dynamic MSME sector.
Sharing his own entrepreneurial journey, the Vice President said that after completing his graduation, he started a small garment business with financial support from his father. Recalling the challenges during the initial years, he said perseverance, continuous learning and hard work enabled him to build a leading knitwear export businesses before entering public life. He urged young entrepreneurs never to be discouraged by initial constraints and to dedicate themselves wholeheartedly to learning their trade.
Recalling his tenure as Chairman of the Coir Board, Radhakrishnan said he had little prior knowledge of the sector but immersed himself in understanding every aspect of the industry. He said that by working closely with exporters and setting ambitious targets, the sector achieved remarkable growth. “If you decide to achieve something, work hard and learn everything about your field, success will certainly follow,” he said.
Emphasising the importance of quality, the Vice President said there can be no compromise on quality standards. He noted that cost reduction should never come at the expense of quality. “The real success lies in reducing costs while maintaining superior quality and better services than competitors,” he said, adding that quality remains the key to sustaining businesses in increasingly competitive global markets.
Calling for greater dynamism within the sector, the Vice President said every micro enterprise should aspire to become a small enterprise, and every small enterprise should grow into a medium enterprise. He observed that entrepreneurs who begin as cottage industries should not remain at the same level throughout their working lives. He also underlined the importance of adequate investment, policy support and easier access to finance to facilitate this transition.
He urged the Ministry of MSME to encourage universal registration of MSMEs, stating that better registration would improve data quality and enable more effective policy formulation based on the actual needs of the sector.
Referring to this year’s United Nations theme, “Human-Centered Entrepreneurship in an AI-Driven Future,” Radhakrishnan said technological change should be viewed as an opportunity rather than a threat. Recalling the apprehensions that accompanied the introduction of computers, he noted that technology ultimately generated new employment opportunities. He expressed confidence that Artificial Intelligence would similarly create new avenues for growth, provided it is adopted constructively.
Appreciating the contribution of the Khadi and Village Industries Commission (KVIC), C. P. Radhakrishnan said the organisation has brought about a remarkable transformation in sectors such as honey production and khadi garments. He observed that while khadi draws inspiration from Gandhian ideals, it must also continuously adapt to changing consumer preferences and technological advancements to remain globally competitive.