Sandeep Marwah Addresses the 10th India International MSME Expo, Highlights the Vital Role of MSMEs in India’s Growth

New Delhi, September 2024: Dr. Sandeep Marwah, founder of Marwah Studios and President of the International Chamber of Media and Entertainment Industry (ICMEI), delivered an impactful address at the 10th India International MSME Expo, held at Bharat Mandapam, Pragati Maidan, New Delhi. In recognition of his significant contributions, Dr. Marwah was also recently inducted into the national board of the MSME Development Forum by its Chairman, Rajnish Goenka.

In his speech, Dr. Marwah emphasized the critical importance of Micro, Small, and Medium Enterprises (MSMEs) in driving India’s economic growth. He highlighted how MSMEs form the backbone of the country’s economy, contributing significantly to employment generation, innovation, and industrial expansion.

“MSMEs are the lifeblood of the Indian economy,” Dr. Marwah stated. “They represent over 90% of businesses in the media and entertainment industry, and supporting these enterprises is vital for the rapid development of India’s industrial sector.” He continued by stressing the need for tailored policies and government initiatives to bolster the growth of MSMEs, especially in industries that rely on creativity and innovation, such as media, entertainment, and arts.

With over 60 million MSMEs operating in India, they provide employment to more than 120 million people, contributing significantly to India’s GDP. Dr. Marwah further elaborated on how the media and entertainment industry, being largely composed of MSMEs, plays a crucial role in influencing culture, generating content, and providing services on both domestic and international platforms. Supporting these MSMEs, he noted, is essential for ensuring the growth of not just the industry but the nation’s economy as a whole.

Dr. Marwah encouraged stakeholders, including government bodies, private organizations, and individuals, to come together to empower MSMEs by offering them the necessary resources, tools, and platforms for expansion. “If we are truly committed to achieving rapid economic growth for India, we must focus on nurturing our MSMEs. By providing them with access to finance, technology, and a supportive ecosystem, we can help them scale their operations and reach new heights,” he said.

In addition to highlighting the media and entertainment sector, Dr. Marwah also discussed the importance of innovation and technology adoption in MSMEs across all sectors, including manufacturing, services, and agriculture. He lauded the initiatives taken by the government and urged for a continued focus on strengthening this sector, which is essential for India’s goal of becoming a $5 trillion economy.

The 10th India International MSME Expo, a key platform for stakeholders across various industries, brought together policymakers, industry leaders, and entrepreneurs to discuss the challenges and opportunities faced by MSMEs. Dr. Marwah’s presence and address were met with resounding applause, recognizing his continued efforts to support MSMEs and promote innovation within the media and entertainment industry.