MSMEs most affected by regulations; must address their challenges in clusters: NITI Aayog CEO

New Delhi [India], March 26 (ANI): BVR Subrahmanyam, CEO, NITI Aayog on Wednesday noted that Micro, Small and Medium Enterprises (MSMEs) are most affected by regulations and MSMEs cannot exist in isolation and that their challenges must be tackled in clusters and groups.
Speaking at a launch event organized by the Confederation of Indian Industry (CII) today in New Delhi, Subrahmanyam said that medium enterprises of today (or MSMEs) are going to be the large enterprises of tomorrow. He said that the Government must handhold them and transform them from micro to small, small to medium and medium to large enterprises.
The NITI Aayog CEO underlined the three main challenges MSMEs face: improving technology, skilled workforce and issues related to quality certifications. He said that India cannot become a developed nation until it raises its standards and manufacturing systems across the country. He added that education & skills and MSMEs are the two most important areas in India's journey to become a Viksit Bharat.
Subrahmanyam also launched the Digital Excellence for Growth and Enterprise, or Dx-EDGE, a platform to empower MSMEs with the tools, knowledge and ecosystem needed to become future-ready, competitive and resilient.
Dx-EDGE is a national initiative spearheaded by CII with the support of NITI Frontier Tech Hub (NITI FTH) and All India Council for Technical Education (AICTE) to drive digital transformation across India's MSMEs.
To create an inclusive, digitally capable MSME ecosystem, this initiative will help build business and digital capacity, facilitate access to affordable technology, promote partnerships among MSMEs, academia and technology solution providers, and enable their participation in the global value chain.
"The CII and NITI Frontier Tech Hub Dx-EDGE platform marks a transformative leap in India's digital journey, designed to empower our MSMEs with cutting-edge technology and digital mastery. By establishing a nationwide network of digital transformation facilitation centers, this initiative democratizes access to skills and innovation, enabling MSMEs to scale sustainably, enhance global competitiveness, and play a pivotal role in realizing the Viksit Bharat vision," he added.
SCL Das, Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India, said that frontier tech, digitalization and technology have become a necessity to survive the global headwinds and emerging challenges and grow to become a developed nation. He said that the Government has been consistently providing enablers aligned with the national vision of Visit Bharat. He said that MSMEs have to be at the centre of the journey towards domestic growth, growth of exports, adaptability for climate change, for having the required resilience and technological growth.
Talking about Dx-EDGE, he said that it is a significant and novel step in the right direction, which has been designed the right way, with Public-Private-Academia Partnership (PPAP). He said that this particular design approach is going to be the key factor towards its success.
Debjani Ghosh, Distinguished Fellow, NITI Aayog and Chief Architect, NITI FTH, said, "Future-proofing MSMEs through digital adoption is no longer a luxury - it's a necessity for realizing Viksit Bharat. With Dx-EDGE, we are building an exciting ecosystem-led approach to empower MSMEs to embrace technology, strengthen resilience and thrive in an increasingly digital world. This initiative is a key pillar of NITI Frontier Tech Hub's vision to accelerate India's transformation into a frontier Tech nation, ensuring that no enterprise is left behind in the digital revolution."
Prof (Dr) TG Sitharam, Chairman, AICTE, noted that more and more youth are entering the workforce and underlined the need to create jobs. Underlining India's strength in STEM education, he said that India has delivered engineering and management education to the world.
Chandrajit Banerjee, Director General, CII, underlined the significance of MSMEs in the Indian economy and noted that this initiative, Dx-EDGE, will help bridge the gap in technology adoption in the segment. (ANI)