The UN General Assembly has declared 27th June as International MSME Day. The Indian government offers different programs to boost development.
On MSME Day, delve into the integral contributions of Micro, Small, and Medium Enterprises (MSMEs) to the global economy. These businesses form the backbone of innovation, employment generation, and economic resilience, playing a crucial role in both local communities and the broader market landscape.
On this day, experienced industry names, from Arete, Quick Heal Technologies, Easebuzz, and Achilles Information Limited share their views and contributions to the MSME sector.
Raj Sivaraju, President, APAC, Arete shared insights -
"On World MSME Day, we confront the stark reality that the economic backbone of our nation – micro, small, and medium enterprises – faces formidable cyber threats and risks. At Arete, we recognize cybersecurity as an existential imperative for MSMEs to thrive in the digital ecosystem. Our mission is to demystify cybersecurity, providing robust, tailored solutions that reinforce their defenses against relentless threat actors and cyber incidents.
However, true cyber resilience transcends technology – it demands a profound cultural shift, where cybersecurity becomes deeply ingrained across every facet of an MSME's operations, cultivating a security-first mindset that empowers them to navigate the digital landscape with confidence and agility. Today, we renew our commitment to arming these economic champions with the vital cybersecurity capabilities they need to conquer new frontiers undeterred, for when our MSMEs are cyber-resilient, our nation's economic future burns brighter than ever."
Vishal Salvi, CEO of Quick Heal Technologies Limited said -
“MSMEs account for approximately 30% of India’s GDP and employ over 110 million people across various sectors, making them a crucial driver of economic prosperity. They are essential for realizing the vision of Atmanirbhar Bharat and contribute significantly to our nation's economic prosperity. As India’s only CSMA-aligned solutions provider, Seqrite deeply understands that cybersecurity is indispensable for the growth and resilience of MSMEs as well as their unique challenges.”
Furthermore, “Our commitment extends beyond protection; we empower enterprises with tailored cybersecurity solutions that bolster defenses and mitigate risks. This enables enterprises to operate securely, build trust with customers, and expand into new markets confidently while remaining compliant with regulatory acts like DPDP. By investing in robust cybersecurity measures, they can unlock new opportunities, streamline operations, and enhance their global competitiveness.”
Amit Kumar, Chief Technology Officer, Easebuzz shared his views -
"India's massive MSME sector, with over 63 million businesses, is the engine of our economic growth. By leveraging data and strong financial bundling via various SaaS-based services, these businesses can unlock even greater potential. Investing in digital payments infrastructure empowers them to make informed decisions, optimize operations, and reach new customers.”
Furthermore, “The government's focus on MSMEs, with initiatives like digital adoption, DPI orchestration, and financial inclusion, is crucial for growth and scale. These policies create a supportive environment for entrepreneurs to thrive and become part of the formal economy. As MSMEs contribute significantly to GDP and job creation, their success is vital to India's economic growth. By working together, we can foster a thriving ecosystem that empowers MSMEs to become the backbone of a vibrant Indian economy."
Smitha Shetty, Regional Director, APAC, Achilles Information Limited stated -
”On this MSME Day, we celebrate the entrepreneurial spirit and unwavering resilience that fuel the backbone of our economy. At Achilles, we are committed to empowering MSMEs through comprehensive training, immersive workshops, and direct engagement opportunities with key buying organizations. We understand that navigating complex regulatory landscapes and meeting the compliance expectations of larger organizations can be daunting. Our managed solutions help simplify these challenges and empower MSMEs to demonstrate their commitment to compliance. Our model has proven instrumental in driving compliance and robust corporate governance within the MSME community. By enabling MSMEs to meet and exceed industry standards, we unlock a world of potential investment, fueling their growth and contributing to a sustainable and innovation-driven MSME ecosystem. We remain steadfast in our mission to create an environment where small businesses can flourish, driving economic prosperity and resilience for future generations.”
Conclusion -
As we conclude our exploration of MSME Day, it is clear that Micro, Small, and Medium Enterprises are essential to the global and Indian economy. These businesses drive innovation, create jobs, and foster economic resilience. ]like Arete, Quick Heal Technologies, Easebuzz, and Achilles Information Limited emphasize the importance of cybersecurity, digital adoption, and compliance to ensure the growth and sustainability of MSMEs.
The insights shared by Raj Sivaraju, Vishal Salvi, Amit Kumar, and Smitha Shetty highlight the collaborative efforts needed to support these enterprises. By leveraging technology, enhancing cybersecurity measures, and embracing government initiatives, MSMEs can navigate challenges and seize new opportunities.
In the Indian Economy, MSMEs play a crucial role in economic development. Continued support and investment in MSMEs will drive the success, contributing to a robust and vibrant economy for years to come.