In a significant move to elevate India’s micro, small, and medium enterprises (MSMEs) on the global stage, Niti Aayog is launching a program focused on enhancing the country’s integration into global value chains. B V R Subrahmanyam, CEO of the government think tank, emphasized that while MSMEs face stricter regulations compared to larger corporations, recent initiatives by the Prime Minister aim to streamline these constraints.

Empowering MSMEs through Digital Excellence

At an event unveiling the Digital Excellence for Growth and Enterprise (Dx-EDGE) platform, Subrahmanyam highlighted the need for MSMEs to adopt modern tools and strategies. This initiative, led by the Confederation of Indian Industry (CII) with backing from NITI Frontier Tech Hub and the All India Council for Technical Education (AICTE), aims to drive digital transformation across the MSME sector.

• Key Objectives of Dx-EDGE:
  • Facilitate digital mastery for MSMEs.
  • Create a supportive ecosystem for future growth.
  • Enhance global competitiveness of Indian enterprises.

Subrahmanyam pointed to the influx of major manufacturers, such as mobile phone producers, as a testament to the success of the Production Linked Incentive (PLI) scheme. However, he noted a critical challenge: 95% of components utilized in mobile manufacturing are imported. He stressed the necessity of developing a comprehensive ecosystem within India to produce intermediate goods, which are essential for various production processes.

Building a Resilient Future

The establishment of the Dx-EDGE platform is seen as a crucial step in India’s digital evolution. By creating a network of digital transformation centers, the initiative aims to democratize access to technology and innovation, enabling MSMEs to thrive sustainably and contribute to the vision of a Viksit Bharat (Developed India).

During the launch, S C L Das, Secretary of the Ministry of MSMEs, underscored the importance of technology and digitalization in navigating global challenges. He stated that MSMEs must be at the forefront of domestic growth and export expansion while adapting to climate change and technological advancements.

A Collaborative Effort for Success

Das described Dx-EDGE as a pivotal advancement designed through a Public-Private-Academia Partnership (PPAP), which he believes will be crucial for its success. Debjani Ghosh, a Distinguished Fellow at NITI Aayog, echoed this sentiment, asserting that embracing digital technology is essential for MSMEs to remain competitive in an increasingly digital landscape.

• Key Benefits of Dx-EDGE:
  • Strengthening resilience among MSMEs.
  • Fostering a technology-driven culture.
  • Ensuring inclusivity in the digital revolution.

T G Sitharam, Chairman of AICTE, highlighted the growing influx of youth into the workforce and the importance of creating job opportunities. He remarked on India’s strength in STEM education, emphasizing the country’s role in providing quality engineering and management education globally.

CII Director General Chandrajit Banerjee reiterated the vital role of MSMEs in the Indian economy, asserting that initiatives like Dx-EDGE will help bridge the technological gap in this crucial sector.

By fostering a robust digital ecosystem, Niti Aayog’s initiatives aim to position India’s MSMEs as competitive players in the global market, paving the way for sustainable growth and innovation.