Regional summit energizes India’s SME sector under national manufacturing push
On July 18, 2025, the city of Surat hosted the ET SME Make in India Regional Summit, reinforcing its position as a rising manufacturing powerhouse. The event was part of a nationwide series led by The Economic Times, in collaboration with the Ministry of MSME, to spotlight India’s small and medium enterprises (SMEs).
Themed “Building Global-Scale SMEs for New India,” the summit brought together policymakers, business owners, lenders, and investors. Together, they explored key areas such as finance, digitization, sustainability, and global trade. Notably, the event emphasized Surat’s growing role in driving innovation in sectors like textiles, chemicals, and diamonds.
SMEs power India’s economic ambitions
India has over 63 million SMEs, which contribute nearly 30% to GDP and around 45% of total exports. Since its launch in 2014, the Make in India initiative has aimed to strengthen these businesses through improved regulations, easier access to finance, and digital support.
Surat, Gujarat’s second-largest city, has become a hub for synthetic fabrics, garments, and diamond processing. Its strong entrepreneurial base and informal manufacturing clusters make it ideal for showcasing India’s evolving SME story.
Since 2023, The Economic Times has hosted similar regional events to bring SMEs closer to government bodies, financial institutions, and corporate buyers. The Surat edition stood out, drawing over 500 attendees from across Gujarat and western India. More importantly, it offered real-world solutions for entrepreneurs recovering from the pandemic’s economic impact.
Finance, formalization, and future markets
A major discussion point was access to finance. Institutions like SIDBI, ICICI Bank, and several fintech platforms introduced credit products aimed at helping small businesses expand digitally and meet working capital needs.
The Ministry of MSME outlined updates on government-backed schemes like the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and the Udyam Assist Platform. These programs are designed to help informal businesses access credit and begin their transition into the formal sector.
On the tech front, speakers emphasized how tools like the Open Network for Digital Commerce (ONDC) and AI-powered ERP systems can increase visibility, improve operations, and boost global competitiveness.
Export-focused SMEs also gained valuable insights into navigating trade agreements. Sessions explored opportunities under the India-UAE CEPA and the evolving India-EU trade framework.
In a key announcement, Gujarat’s Industries Commissioner unveiled a new incentive scheme. This included grants for green technology adoption, support for patent filings, and rewards for export diversification. These efforts aim to help SMEs move up the value chain and reduce their carbon footprint.
Surat emerges as a testing ground for industrial policy
This summit wasn’t just another industry gathering—it offered a glimpse into India’s decentralized growth model. While cities like Mumbai and Bengaluru often dominate headlines, tier-2 cities like Surat are shaping India’s future in manufacturing.
SMEs from these regions are now creating jobs, driving exports, and even becoming part of global value chains. The summit’s emphasis on digital tools, regulatory clarity, and export readiness shows a clear shift: from survival mode to scalable business models.
Hosting such events in cities like Surat sends a strong signal. Policymakers want growth to be inclusive and regionally balanced. Surat’s position along the Delhi–Mumbai Industrial Corridor (DMIC) and its logistics strengths make it a strategic player.
As India pursues its $5 trillion economy vision, unlocking the potential of regional hubs like Surat is not optional—it’s essential.
Turning regional clusters into global supply nodes
The ET SME Make in India Summit 2025 reflects a new chapter for India’s SME sector. With cities like Surat embracing innovation, sustainability, and export readiness, India’s manufacturing map is rapidly expanding beyond metro centers.
However, challenges remain. Many SMEs still operate informally and lack financial awareness. Digital skills are unevenly distributed, especially in traditional industries. Nonetheless, summits like this provide critical momentum for solving these problems through public-private dialogue.
More such regional events are planned in key industrial clusters such as Coimbatore, Kanpur, and Rajkot. These summits aim to ensure that policy benefits reach the grassroots and that SMEs across India can scale without relocating to metros.
Surat’s strong showing indicates what’s possible when local ecosystems are activated with national vision. Its performance offers a roadmap for how other regions can plug into global manufacturing trends.
Surat claims its place in India’s industrial growth story
The ET SME Make in India Summit 2025 made it clear: Surat is ready to lead. By linking its traditional strengths with digital tools, export incentives, and green manufacturing goals, the city is transforming into a modern manufacturing hub.
The summit proved that India’s SMEs are not just support players—they’re becoming growth engines. With the right mix of policy support, financial access, and digital adoption, these businesses can help India become a reliable global supply chain partner.
As India’s economic ambitions rise, Surat and other emerging industrial cities will play an increasingly important role. They are no longer just regional contributors—they are becoming national champions.
