India's MSMEs to focus on manufacturing, local supply chains for faster growth: Industry leaders

New Delhi, Nov 22 India’s MSMEs must shift their focus toward manufacturing and strengthening local supply chains to drive the country’s next phase of economic growth, industry leaders said on Saturday.

Speaking at an event organised by the PHD Chamber of Commerce and Industry (PHDCCI), the message was highlighted by Nivruti Rai, Managing Director & CEO of Invest India, who shared a forward-looking plan to boost investment, technology collaboration and the scale of small and medium enterprises.

Rai said India has long benefited from its strong services sector and domestic consumption. However, she stressed that doubling the country’s GDP will require MSMEs to invest more in technology-led manufacturing and reduce dependence on a few global suppliers.

"This is especially important in critical sectors such as semiconductors, logistics and advanced manufacturing," she noted.

To support this shift, Rai introduced Invest India’s new platform -- KYO & KYI (Know Your Opportunity and Know Your Investors) -- designed to connect Indian companies with global investors, technology partners and new market opportunities.

The platform aims to help businesses access capital, licences and global value chains more efficiently.

Rai also identified seven sectors where India is well-positioned to scale quickly: automotive, electric vehicles, electronics, pharmaceuticals, genetics, biology and clean energy.

She said India now offers one of the most attractive environments for global investors, backed by stable policies, strong returns and a focus on innovation.

Welcoming her remarks, PHDCCI President Rajeev Juneja said aligning government investment priorities with industry readiness is crucial.

He added that PHDCCI is committed to strengthening the MSME ecosystem and agreed that local manufacturing, supported by technology and strategic investment, will be central to India’s long-term competitiveness.

The engagement between Invest India and PHDCCI signals a deeper push to build a unified ecosystem for businesses of all sizes. Both organisations emphasised that stronger industrial capabilities, global partnerships and a focus on innovation will be key to positioning India as a leading global manufacturing hub.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor