International MSME Day: IFQM Calls for a National Quality Mission to Embed India's MSMEs into Global Value Chains
The Indian Foundation for Quality Management (IFQM) is advocating for a National Quality Mission to improve the competitiveness of India's MSMEs. By implementing business excellence models, the initiative aims to integrate these small enterprises into global value chains.
Why it matters
Improving MSME quality is critical for India to increase its share of global manufacturing and exports, which currently remains below 2%.
NEW DELHI , June 25, 2026 /PRNewswire/ -- As the world marks International MSME Day on June 2 7 , 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.
The article reports on a specific industry initiative and economic data without inflammatory language or partisan framing.
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