Transforming Human Capital in Indian MSMEs: A Comprehensive Study on Training and Development Initiatives in the Industrial Landscape

Abstract In today’s rapidly evolving industrial ecosystem, the role of human capital has emerged as a cornerstone of sustainable growth, particularly in India’s Micro, Small, and Medium Enterprises (MSMEs). This study explores the transformative impact of training and development initiatives on the performance and competitiveness of Indian MSMEs. Grounded in robust secondary data analysis, the research delves into the current practices, key challenges, and strategic opportunities within the training and development landscape. It highlights how capacity building and skill enhancement are not merely HR functions but critical drivers of productivity, innovation, and employee retention. The findings suggest a significant gap in structured training programs and underscore the urgent need for policy-level and organizational interventions. This research offers actionable insights for policymakers, industry leaders, and academicians seeking to align workforce development with industrial growth. It ultimately advocates for a more inclusive, adaptive, and technology-integrated approach to human capital advancement in MSMEs. Keywords: Human Capital, Training and Development, MSMEs, Industrial Growth, Skill Enhancement, Workforce Transformation.