Empowering MSMEs for a Viksit Bharat by 2047: A Strategic Pathway to Sustainable Economic Growth

The objective of “Viksit Bharat by 2047” is to establish India as a prominent global economic force, and MSMEs are poised to play a pivotal part in this metamorphosis. This paper investigates the strategic role of MSMEs in fostering long-term economic growth and meeting Viksit Bharat objectives. By analyzing the current state of MSMEs, their contributions to GDP, employment, and innovation, the study highlights the challenges they face, including access to finance, technology adoption, and regulatory hurdles. The research also examines the government’s initiatives to support MSMEs and proposes policy recommendations to enhance their growth and competitiveness. The findings underscore the need for a robust MSME ecosystem to ensure inclusive and sustainable development, aligning with the broader national vision of a developed India by 2047.