India, the world’s fastest-growing major economic powerhouse, is on the path to becoming the third-largest global economy by 2027 and a fully developed nation by 2047. At the core of this transformation are micro, small, and medium enterprises (MSMEs), which drive grassroots prosperity, innovation, and employment.
To celebrate MSMEs and support their aspirations, the Forbes India Small Business Summit, presented by PhonePe Payment Gateway (PG), brought together thought leaders, entrepreneurs, investors, and technology facilitators. The event aimed to accelerate MSME growth through technology, talent, government support, and funding.
Following successful meet-ups in Chennai, Lucknow, Indore, and Pune, the grand finale took place in Delhi, India’s capital of digital innovation and entrepreneurial energy. Themed “Delhi Means Innovation: Leading the Digital Transformation in India’s MSME Ecosystem,” the event underscored the city’s role as a hub for over 2.5 lakh MSMEs spanning technology, retail, and manufacturing.
With panel discussions and fireside chats, the half-day event provided actionable insights for inclusive growth, innovation, and funding access while serving as a networking platform for Bharat’s small businesses. A novel feature of the event was the Grow Billion Trees initiative, which planted a tree for every panellist, symbolizing sustainability alongside progress.
Visionary Voice
The event opened with a keynote by Ankit Gaur, Head of Payment Gateway & Online Merchants at PhonePe, who praised Delhi NCR’s unique blend of heritage and innovation. He highlighted how businesses in the region embrace digital tools as a model for India’s growth, saying, “Unlike larger corporations, small businesses are agile—they quickly pivot, move operations online, respond to customer needs, and adopt technologies like AI. This adaptability is your superpower.”
Reflecting on the summit’s journey, Gaur emphasized that India’s diversity is its strength, with entrepreneurs skilfully balancing tradition and transformation. He encouraged businesses to redefine possibilities, demonstrating that digital payments and other tools could unlock extraordinary outcomes.
Fireside Chats and Panel Discussions
The summit delved into critical themes essential for MSME growth, offering valuable insights through interactive sessions.
Digitization and Technology
A recurring theme was how MSMEs can leverage tools like AI, QR codes, and mobile payments to streamline operations and remain competitive. Panellists emphasized the role of digitization in expanding businesses across India, particularly in rural and semi-urban markets. They highlighted that digital marketing and payment systems simplify transactions, establish credit histories, and enhance scalability while fostering deeper consumer connections.
Human Resources
Discussions also focused on the human aspect of businesses. Panellists stressed building strong relationships within organizations and with customers, aligning strategies with consumer preferences, and fostering loyalty through innovation.
Talent acquisition and retention were key topics, with strategies such as personalized engagement, skilling programs, and ESOPs suggested to create motivated teams. These measures were seen as vital for sustained growth in a competitive environment.
Design and Innovation
Innovation in product design was another focal point, emphasizing the need to balance creativity and cost-efficiency. Panellists underscored aligning with market demands and adapting to regulatory changes while leveraging technology to drive innovation.
Across all sessions, the consensus was clear: collaboration, adaptability, and digital transformation are essential for MSMEs to thrive in a dynamic business environment.
Call for Collaboration
Chief Guest Shri Jitan Ram Manjhi, Minister of Micro, Small, and Medium Enterprises, delivered a keynote address emphasizing MSMEs’ role in India’s economy. Reflecting on Mahatma Gandhi’s vision of self-reliance, he remarked, “MSMEs are not just businesses; they are the heart of India’s progress. Empowering them means empowering our villages, our people, and our future.” He called for collective efforts to position India as a global leader in entrepreneurship and innovation.
Celebrating Excellence
The felicitation ceremony celebrated MSMEs that redefine innovation and drive growth. Pioneering businesses – Sirona, Rage Coffee, Gulabo Jaipur, P-Tal, SaveIn, Ekanek Networks, IndustryBuying, and LegitQuest – were honoured for their achievements, inspiring the audience with their transformative contributions to India’s economy.
Shaping India’s Future
The Delhi Chapter of the Small Business Summit highlighted the immense potential of digital transformation in driving MSME growth. Ankit Gaur aptly summarized the event’s spirit, stating, “Digital payments simplify transactions, build customer trust, improve cash flow, and open access to new markets. Whether serving a local customer or expanding nationally, the right digital solutions can be game-changers.”
With its emphasis on innovation, resilience, and sustainability, the summit left participants inspired and motivated to champion progress in India’s thriving MSME ecosystem. The event concluded with a networking dinner, cementing its legacy as a platform for collaboration and growth.
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