PRNewswire
New Delhi [India], June 25: 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.
- Senior counsellors and subject matter experts conduct regular visits, guiding MSMEs on their "Good to Great" journey.
Since January 2025, IFQM has launched clusters with ZF, Bosch, TVS Motors, Tata Steel, Lucas TVS, Padmini VNA, Sundaram Clayton, and the Coimbatore region. The first ZF cluster has already completed its inaugural year, with suppliers reporting measurable gains in productivity, defect reduction, and operational discipline. IFQM calls this a "Journey of Excellence" -- moving beyond small-q quality to embrace holistic business excellence (Big Q).
On the occasion of International MSME Day, Soumitra Bhattacharya, CEO & Director, IFQM, emphasized: "India's economic momentum is undeniable, yet our global trade share remains below 2%. The missing link between growth and competitiveness is quality. Germany's Mittelstand demonstrates how MSMEs can anchor exports through precision, systems, and supply chain discipline. India's 7.47 crore MSMEs must embrace the same ethos. At IFQM, we are equipping leaders with actionable frameworks--daily work management, continuous improvement, and adherence to global benchmarks. India's opportunity will not arrive by default; it must be secured through rigor and excellence. Quality is the lever that will position India as a trusted global partner."
Building on this foundation, IFQM convened its first MSME Symposium at Anna University, Chennai on March 20, 2026. Captains of industry from Biocon, TVS, Boeing, Motherson, Maruti Suzuki, Cummins, L&T, Bosch, ZF, and Deloitte engaged MSME leaders on quality, competitiveness, and digital transformation. The symposium addressed India's growth-competitiveness paradox head-on, presenting actionable frameworks, global benchmarks, and transformation case studies.
Five flagship initiatives were unveiled to move MSMEs from aspiration to execution:
- Cluster Development Programme to benchmark MSMEs against world-class standards
- IFQM Quality Excellence Prize (QEP) -- India's first industry-led excellence award designed for smaller enterprises
- Leadership Development Course through the IFQM Academy
- Zero Defect Manufacturing Course with SRM IST, Chennai and CIT, Chennai
- Excellence in Manufacturing Engineering Course with VelTech University
About IFQM
The IFQM Governing Council: Mr. N. Chandrasekaran, Chairman, Tata Sons; Mr. Dilip Sanghvi, Executive Chairman, Sun Pharmaceuticals; Dr. Kiran Mazumdar-Shaw, Executive Chairperson, - Biocon Group; Mr. TV Narendran, CEO & MD, Tata Steel Limited; Mr. K.N. Radhakrishnan, Director & CEO, TVS Motor Co; Dr. Randhir Thakur, CEO & MD, Tata Electronics Pvt. Ltd; Mr. Salil Gupte, President, Boeing India & South Asia; Mr. SN Subrahmanyan, Chairman & MD, Larsen & Toubro; Mr. Venu Srinivasan, Chairman Emeritus, TVS Motor Co & Chairman, IFQM; Mr. Vivek Chaand Sehgal, Chairman, Motherson Group.
IFQM on Web: https://ifqm.org.in/
LinkedIn: https://www.linkedin.com/company/ifqm
For more information, please contact:
Suman Nath
Brevanta Communications suman@brevanta.in, info@ifqm.org.in
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