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The Bombay Chamber organised MSME Conclave 5.0 on the theme “MSMEs at the Forefront of Viksit Bharat 2047” at ITC Grand Central, Mumbai, bringing together industry leaders, technology experts, financial sector representatives and international trade stakeholders to deliberate on strengthening India’s micro, small and medium enterprises (MSMEs).

The conclave focused on strengthening MSME participation in strategic value chains, harnessing Artificial Intelligence (AI), unlocking international trade opportunities and improving access to finance. The discussions highlighted the need to build competitive, technology-enabled and financially resilient enterprises to support India’s long-term growth ambitions.

Welcoming the participants, Sandeep Khosla, Director General, Bombay Chamber of Commerce & Industry, set the context for the deliberations, emphasising the importance of strengthening the MSME ecosystem and enabling businesses to respond to emerging opportunities in technology, manufacturing and international trade.

In his special address, Sudhanshu Vats, President, Bombay Chamber of Commerce & Industry and Managing Director, Pidilite Industries, underscored the interdependence between MSMEs and large enterprises, comparing their relationship to the two wheels of a bicycle that must move together for progress. Drawing on Pidilite’s journey from a small enterprise to a large company, he highlighted the importance of sustained partnerships with MSMEs across the business ecosystem.

Vats identified the adoption of AI by MSMEs as a key priority for his presidential year at the Bombay Chamber. Drawing a parallel with the transformation brought about by digital technologies and UPI, he observed that AI could help MSMEs bridge gaps in capabilities, processes and access to trained talent without requiring every enterprise to build these capabilities independently. He encouraged MSMEs to view AI as an accessible and practical tool for business growth and reaffirmed the Chamber’s commitment to supporting its adoption. He also emphasised the need to strengthen the competitiveness of Mumbai and Maharashtra and highlighted the Chamber’s role in connecting industry, regulators and businesses of all sizes. Concluding with a call for sustainable growth, he stressed the importance of energy and water efficiency, waste reduction and responsible profitability, noting that Viksit Bharat 2047 cannot be realised without a strong and thriving MSME sector.

The deliberations explored how MSMEs could deepen their participation in strategic value chains and strengthen their capabilities to meet the evolving requirements of large enterprises. The session brought together perspectives from the defence, automotive and food and beverage sectors, with Vikas Kulkarni, Strategic Advisor and Operating Partner, moderating the discussion featuring Mahesh Phadke, Vice President and Head – Defence (Retd.), Larsen & Toubro; Kishor Sankhe, Vice President – Supply Chain Management (Auto Sector), Mahindra & Mahindra; and Ritesh Mathur, Founder, F2F Food and Beverage Consultants.

The role of technology in building future-ready MSMEs was another key focus. Hareesh Tibrewala, Co-Chair, Digitalisation Committee, Bombay Chamber and CEO, Anhad Digital Consultancy Services, delivered a presentation on “AI for Manufacturing Sector”, covering applications in manufacturing and supply chains, case studies and approaches to developing an AI adoption roadmap. A panel discussion featuring Aloke Palsikar, Managing Partner, Codincity Digital Technologies and Advisor and Mentor, ILSS; and Sameer Prakash, Head – Digital Enterprise (Retd.), Siemens Ltd., further explored the potential of AI to improve productivity, operational efficiency and business competitiveness.

The conclave also examined opportunities for MSMEs to expand their international footprint through trade agreements and global partnerships. H.E. Graham Rouse, Trade Commissioner and Consul-General – India and South Asia, New Zealand Trade and Enterprise, shared insights on opportunities for trade and innovation arising from India–New Zealand engagement, while H.E. Aliaksandr Matsukou, Consul General, Consulate General of Belarus in Mumbai, highlighted avenues for strengthening business partnerships with Belarus. Their perspectives underscored the importance of international collaboration in enhancing market access, fostering innovation, and enabling MSMEs to integrate into global value chains.

Shri S Sivasankar, Executive Director, The New India Assurance Co. Ltd. highlighted the importance of insurance and effective risk management in strengthening MSME resilience, mitigating business risks, and supporting sustainable growth.

Access to timely and affordable finance formed another important part of the deliberations. Moderated by R. Srinivasan, Co-Chairperson – MSME Forum, Bombay Chamber and Director, AIRA Consulting Pvt. Ltd., the session featured Suresh Venkatesan, Whole-time Director and CEO, CRIF Credit Information Services Pvt. Ltd.; Aditya Kanetkar, Partner, Kirtane & Pandit LLP; and Smt. Radha Kirthivasan, Head – Issuer Relations & Corporate Sales, BSE Ltd. The discussion covered the MSME credit gap, the shift towards cash-flow-based lending, the potential of TReDS, GST and Account Aggregator data to support credit assessment, and the role of capital markets in financing expansion. It also highlighted the importance of sound governance, accounting practices and accurate documentation in improving access to funding.

The programme also featured the launch of a book by Dr. Rajendra K. Sinha, Founder and Chairperson, Centre of Excellence in Banking, MSME advisor.com and JAGSOM. The conclave concluded with remarks and a vote of thanks by Rajan Raje, Chairperson – MSME Forum, Bombay Chamber and CEO, Nichem Solutions.

Through MSME Conclave 5.0, the Bombay Chamber reaffirmed its commitment to helping MSMEs strengthen their capabilities, adopt emerging technologies, integrate into domestic and global value chains, and access appropriate sources of finance. The conclave reinforced the importance of collaboration among businesses, industry institutions and international partners in building a competitive, inclusive and sustainable MSME ecosystem that can contribute meaningfully to the vision of Viksit Bharat 2047.