ET Make in India SME Regional Summit, Thane spotlights resilience, innovation and inclusive growth

The ET Make in India SME Regional Summit in Thane, the first one in FY 2025-26, brought together a diverse group of industry leaders, SME associations, and small business owners on June 26 to exchange ideas and chart a collective vision for industrial growth and national development.

The ET Make in India SME Regional Summit is a series of nationwide on-ground events to bring together local micro-, small-, and medium-sized enterprises (MSMEs), policymakers, enablers, and key industry stakeholders. The Summit aims to unravel emerging opportunities, address critical challenges, and promote meaningful knowledge-sharing and networking to drive the next wave of growth for Indian MSMEs.

In Thane, the summit began with an insightful keynote from Dr Vijay Kalantri, Chairman of World Trade Centre Mumbai, and President, All India Association of Industries (AIAI). He talked in detail about the challenges faced by MSMEs in the Thane region and in other parts of the country, as well as ways to address them. “Instead of a single window, the government should enable a single desk to facilitate easy redressal of MSME issues,” said Kalantri.

After Kalantri’s valuable insights, Anjali Mirchandani, Deputy General Manager, The New India Assurance Co Ltd, joined the stage for an exclusive fireside chat on the topic ‘Safeguarding Success: The Essential Role of Business Insurance for MSME Resilience and Growth’.
Mirchandani talked in detail about how comprehensive business insurance can protect Thane-based MSMEs from the financial impact of monsoon-related flooding and ensuing accidents, which are likely in this industrial belt.

“When we talk of MSMEs, it’s known that they need to have a sustainable and price-conscious product as they operate on thin margins,” said Mirchandani. She also highlighted how The New India Assurance’s bundled coverage options offer comprehensive protection at affordable rates, making them particularly well-suited for MSMEs when compared to offerings from other insurers.

Then followed another interesting fireside chat with Nagaraj Garla, Executive Director, IDBI Bank, on the topic ‘Catalyzing Make in India Growth: IDBI Bank’s Strategic Imperatives for Empowering MSMEs’.
Garla spoke about IDBI Bank’s initiatives such as i-MSME Express and GeM Sahay, which are helping to break traditional credit barriers like collateral requirements and complex documentation. He also highlighted the growing role of AI and data analytics in shaping the next phase of MSME lending—enabling faster, more accurate, and more inclusive credit decisions. “Unmet demand of MSME credit is close to Rs 30 lakh crore. Demand is there; supply is not. IDBI has wide-ranging customisable products on offer to MSMEs under a single digital platform,” said Garla.

He also explained how IDBI Bank is tailoring financial solutions such as equipment finance and export credit to support manufacturing MSMEs in Thane, enabling them to scale operations and enhance their global competitiveness.

Thereafter, local industry leaders and association heads came together for an engaging panel discussion on the topic ‘MSMEs and Maharashtra's economic engine: Unlocking growth from Thane’.
“If MSMEs are to survive and grow at a faster pace, the government must not only support them but also provide sustained handholding. These enterprises often operate with limited manpower and resources, making them especially vulnerable to market fluctuations and regulatory burdens. Targeted assistance, simplified compliance, and access to capacity-building initiatives are essential to unlock their full potential,” said Raghuveer Kini, Director General, Basic Chemicals, Cosmetics & Dyes Export Promotion Council (CHEMEXCIL).

In the chemicals industry, navigating commodity fluctuations and market volatility remains a significant challenge. Additionally, a lack of awareness about local suppliers continues to hinder sourcing efficiency and supply chain optimisation within the sector,” said Aniket Malshe, Director, Nichem Solutions.

“When it comes to the challenges faced by MSMEs, the scenario remains largely the same—whether in Thane or elsewhere in the country. To stay ahead of the curve, MSMEs must embrace innovation and focus on their core strengths, adapting swiftly to changing market dynamics and consumer demands,” said C H Nadiger, Regional Director, Western Region, Engineering Export Promotion Council of India (EEPC India).

“The world is looking for solutions, and India holds the key. India’s MSMEs are at the heart of these solutions, driving innovation, resilience, and inclusive growth. This is the right moment to accelerate forward, harnessing the potential of our small enterprises to lead not just the national economy, but to contribute meaningfully to global challenges,” said Bhavesh Maru, General Secretary, Thane Small Scale Industries Association (TSSIA).
The insightful panel discussion followed a business presentation by Sameer Kenia, Business Manager, Canon India. “MSMEs play a big role for us. About 32-35% of our business comes from MSMEs,” said Kenia.

Towards the end came the special address by Kantharao Jinna, Chief Manager, National Small Industries Corporation (NSIC) Mumbai. Jinna highlighted various initiatives taken by NSIC to help MSMEs.

“We support MSMEs in areas such as raw material distribution and marketing. To strengthen this support, we have signed MoUs with most public sector undertakings (PSUs), ensuring cost advantages and improved access to resources for MSMEs,” said Jinna.
He also focused on the products introduced by NSIC for MSMEs. “The MSME Global Mart serves as a valuable platform that provides access to various tenders and market opportunities, making crucial business information more accessible and transparent for MSMEs,” said Jinna.

This concluded the SME summit in Thane, serving as a key platform that offered networking opportunities to a range of small businesses as well as industry stalwarts. The event sponsors were IDBI Bank as Banking & Lending Partner, The New India Assurance Co. Ltd as General (Non-Life) Insurance Partner, Canon as Tech Enabler, and World Trade Centre Mumbai and All India Association of Industries as Association Partners.

(On World MSME Day, on June 27, 2025, ET Digital opened registrations for its sixth edition of the ET MSME Awards 2025. The coveted award programme celebrates India’s top MSMEs for their achievements and contribution to the nation’s economic development)