NEW DELHI , June 25, 2026 /PRNewswire/ -- As the world marks International MSME Day on June 27 , India's 7.47 crore Micro, Small, and Medium Enterprises stand at the heart of the nation's economic future. As stated in the Economic Survey 2025-26, with 31.1% of GDP, 35.4% of manufacturing output, and 48.58% of exports, MSMEs are the backbone of India's growth story.Yet, as of 2024, India accounted for an estimated 2.9 per cent of the global manufacturing GVA and only 1.8 per cent of global merchandise exports. This paradox underscores why International MSME Day is not just symbolic—it is a call to action for India to transform scale into competitiveness and embed its enterprises into global value chains.Since its inception in 2023, the Indian Foundation for Quality Management (IFQM) has championed a National Quality Mission to make Indian organizations globally respected. At the core of this mission is the MSME Cluster Development Approach , built on the IFQM Business Excellence Model – "The India Way."
Suppliers begin with self-assessment and quality visits by IFQM counsellors, co-creating roadmaps with sponsoring parent companies.
Year 1 focuses on fundamentals: Total Quality Management, Zero Defect Manufacturing, and Operational Excellence.
