Pune: The Pune International Business Summit – PIBS 2026 emphasized the growing importance of the MSME sector in India’s economic development, with policymakers and industry leaders highlighting innovation, entrepreneurship, and global integration as key drivers of growth.
Speaking at the inauguration of the PIBS 2026, Dr Rajneesh, IAS, Additional Secretary and Development Commissioner, Ministry of Micro, Small and Medium Enterprises, Government of India, said the government is committed to strengthening MSMEs through policy support, technology enablement, and improved financial access.
PIBS 2026 Focuses on MSME Reforms and Global Trade Expansion
The seventh edition of the two-day summit (PIBS 2026) has been organized by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) to create international opportunities for industry, trade, and investment in the state.
During the inaugural session, Dr Rajneesh spoke on “Preparing MSMEs to Drive India’s Global Trade Expansion” and highlighted the sector’s growing economic contribution. MCCIA President and Kirloskar Brothers Limited Chairman and Managing Director Sanjay Kirloskar, along with Director General Prashant Girbane, were present at the event.
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Dr. Rajneesh said, “MSMEs are not just a sector – they are the backbone of India’s economic resilience.”
He noted that MSMEs contribute significantly to the national economy, accounting for 31% of GDP, 45% of exports, and generating employment for nearly 32 crore people.
Dr. Rajneesh further said, “MSMEs form the backbone of the country’s economic growth, and their participation in innovation, entrepreneurship, and global value chains is steadily increasing.”
He added, “Our primary objective is to ensure that micro and small enterprises move beyond survival toward expansion, adopt new technologies, and enter international markets. Transactions on the Trade Receivables Discounting System (TReDS) platform have increased significantly. From ambitious space missions like Chandrayaan to defence equipment manufacturing, MSMEs have made valuable contributions.”
Highlighting growth potential within the sector, he said, “India’s MSME growth sweet spot lies between ₹1 crore–₹10 crore turnover. That’s where scale, resilience, and competitiveness truly emerge.”
Dr. Rajneesh also noted that while government procurement policy mandates a minimum of 25 percent sourcing from MSMEs, nearly 46 percent procurement is currently being made from them.
Also Read: National IP Yatra 2025: MSME IP filings Rise 40% Between 2021-2025
Collective Efforts Needed to Promote Indigenous Growth
Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company Limited, spoke on the theme “India’s Growth Story in a Changing Global Environment” at PIBS 2026.
He noted that automobile exports are growing significantly, supported by trade agreements with multiple countries.
He added that India is benefiting from global growth trends involving the United States and China. The ceramics industry is expanding rapidly, with major investments in clusters and innovation. He also cited Amul as a successful example of the cooperative model.
India at a Transformational Moment: Sanjay Kirloskar
Sanjay Kirloskar emphasized the need to strengthen relationships with the European Union, the United States, and other international partners to create new opportunities for Indian industries.
He said India is currently at a decisive stage of transformation driven by technology, innovation, and global integration. He added that the PIBS 2026 would serve as an important platform for meaningful dialogue, exchange of ideas, and strengthening international business partnerships.
Kirloskar also noted that industry leadership will play a critical role in shaping India’s economic future, and that along with large corporations, micro, small, and medium enterprises will continue to make equally significant contributions.
