As the Union budget 2025 nears, there is a hope that MSMEs (Micro, Small and Medium Enterprises) will see added benefits including steps to ensure that those operating in remote areas and smaller towns are among the beneficiaries. Stakeholders in the sector want innovation hubs in smaller towns to support MSMEs that always struggle to get access to easy credit.
“We hope to see measures that drive inclusive growth, particularly in regions like Northeast India, which hold immense potential for innovation and entrepreneurship. Strengthening digital infrastructure, expanding support for MSMEs, and enhancing access to emerging technologies like AI-driven automation and blockchain could significantly boost regional development and economic progress. Additionally, we look forward to incentives that encourage R&D and digital skill development, enabling businesses to stay competitive in a rapidly evolving global market. Prioritising cybersecurity and long-term financial support for technology adoption will be pivotal in ensuring sustainable growth and innovation across the nation,” remarked Anjan Pathak, CTO and co-founder of Vantage Circle.
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There are also expectations from MSMEs with regard to setting up innovation hubs in smaller towns so that many of them get access to newer technologies. Besides this, new skilling programmes are also expected for different MSME stakeholders. "Initiatives such as R&D tax credits and dedicated innovation hubs, particularly in Tier-2 and Tier-3 cities, have the potential to promote entrepreneurship and provide new possibilities. Skill 2.0 programmes and skill credits could be game changers for MSMEs, allowing them to strengthen their workforce and remain competitive on a global scale,” observed Manish Kumar Goyal, managing director at Finkeda.
Tax benefits for MSMEs are also expected as they have the potential to help businesses to scale up operations, attract investments, and provide job opportunities “A skilled and employed workforce equals more discretionary income, which strongly correlates with growing online buying and service demand. Rising prices, particularly in rural regions, influence purchasing power. Measures like Direct Benefit Transfers (DBTs) and agricultural supply chain changes have the potential to stabilise rural demand, and improving measures could considerably enhance the sector's rural growth,” said Siva Balakrishnan, founder and CEO of Vserve.
