ICAI Launches Major Initiative to Empower India's MSME Sector

ICAI announces a strategic initiative to bolster India's MSMEs, hosting a key conclave in Mumbai. The event aims to foster collaboration and growth across six vital enterprise areas. The drive emphasizes sustainable expansion, boasting over 75 lakh MSMEs contributing to 30% of India's GDP.

In a move poised to transform India's economic landscape, the Institute of Chartered Accountants of India (ICAI) has initiated a strategic push to empower Micro, Small, and Medium Enterprises (MSMEs). Dubbed the 'silent growth engines' of the country, these enterprises are set to receive a significant boost through the upcoming MSME Conclave 2025, scheduled for June 26-27 at Mumbai's Hotel Sahara Star.

The two-day conclave, a landmark event, will convene key stakeholders from across the nation, including entrepreneurs, financial institutions, and policy-makers. The focus is on collaboration, innovation, and sustainable growth, facilitated by an MSME help desk. The initiative targets six crucial growth areas - Finance, Accounting, Technology, Human Resources, Operations, and Management (FATHOM), offering comprehensive support beyond mere compliance.

CA Gyan Chand Mishra, the Chairman of the ICAI MSME & Startup Committee, stated that the initiative is a shift from 'informal hustle to structured success.' Vice Chairman CA Arpit Kabra underscored the importance of the movement, noting the critical role of MSMEs in India's economy. With these enterprises accounting for nearly 30% of the GDP, the ICAI's effort is timely and necessary to ensure their sustained growth.