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As on : 07-Mar-2025

Economy - Reports
07-Mar-2025 10:40

MSMEs need to be integrated into larger supply chains to drive real competitiveness and achieve 7-8% growth: NITI Aayog VC at CII

Mr Suman Bery, Vice Chairman, NITI Aayog and Chairman, Economic Advisory Council to the Prime Minister Government of India, while speaking during CII National Conference on Responsive Supply Chain for Indian Manufacturing said that growth happens through innovation and gains from trade, but sustaining momentum is harder when you're doing well. The challenge is to keep pushing forward'India's corporate sector must step up, and MSMEs need to be integrated into larger supply chains to drive real competitiveness and achieve 7-8% growth.

Speaking on India's growth prospects, Mr Bery said that India has staged a remarkable economic recovery post-COVID, emerging as the fastest-growing large economy in the world, as acknowledged by the IMF. With moderate inflation and declining poverty levels, the country is on a strong growth trajectory. The challenge now is to sustain and accelerate this momentum. Mr Bery also said that 'Historically, India has functioned as a collection of regional economies rather than a single integrated market. But with GST and major infrastructure investments, we are now transitioning into a truly unified national economy. This integration will be one of the most powerful drivers of India's future growth.

Highlighting the importance of sustainability, Mr Bery said that 'As the world moves towards greener supply chains, Indian enterprises'both large and small'must adapt. Sustainability is no longer just about compliance; it is becoming a core factor in global competitiveness. MSMEs must be supported in this transition, ensuring they are part of a greener, more resilient industrial ecosystem.

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