Many people believe that only those who are literate can innovate and create anything new, but in reality, innovations are all about applying simple and logical science, which anybody can try and imagine. With the help of qualified people, these ideas may be further refined and provided.

Recent years have witnessed some incredible inventions and success stories in India, when a man in a rural area or an MSME developed a ground-breaking idea or piece of equipment. Even though India is not as conscious of intellectual property as Western nations, it is nonetheless receiving attention on all fronts. We have seen numerous companies in the last  decade that have emerged as leaders,  trend setters, and risk takers. These are all the required qualities of a successful enterprise in the tough competitive market, but nonetheless, what is equally important is the ability to sustain and to survive.

I understand that some of us are not very receptive to innovate or to take challenges, but like they say, victory comes to brave. In the last two decades, I have seen over 75 MSMEs who took the risk and who survived, though in the initial period, they did not yield any result, but in the long term, they were all able to reap the benefits. Whenever I go for any meetings with some new and upcoming MSMEs, I personally make sure that they should take a risk, which has two approaches. The first one is a risk, which they consider is a little safe and will reap some benefits, and the second one is a risk with a higher degree of risk and a higher degree of reward also. However, there are a few considerations which I would like to highlight here, for example, the surplus capital, required skillset, in case there are some technological changes, cost of training, etc. Notwithstanding all these elements, there will always be a competitive edge, and furthermore, this will be an investment too. I have noticed that many entrepreneurs consider this more of an expense, and they are wrong in this approach. We have always been very skeptical when it comes to changes. We think that it will take away our comfort zone, but they don’t realize that it will upgrade their skillset and make them smart workers. I have worked in some of the top 100 companies in India, and there I have also seen many employees hesitant to upgrade their skills, but I always advise them that they should consider this as a great opportunity that makes them stand apart from the rest of their business competitors. Many MSMEs (micro, small, and medium enterprises) have become more advanced thanks to the government’s support in terms of finances and operations. The government aims for India to become the third-largest economy in the world, with a GDP of $5 trillion in the next three years and $7 trillion by 2030, driven by ongoing reforms. 

Ten years ago, India was ranked as the 10th largest economy, with a GDP of $1.9 trillion. Entrepreneurs recognize that strong domestic demand has helped the economy grow by over 7% in the past three years. This growth shows that there is ample opportunity for everyone, and even more growth is expected in the future. 

Therefore, my friends, I would like to conclude by saying that everyone needs to step up their game and always be ready to put their ideas to use. You can never predict what the future will bring, and it's even more important to remember what it might offer you in return.

I wish you all the best in your future endeavors and would love to see you all very successful in your respective fields to help India reach its goal of being the third-largest economy in the world.