LIVE: Chief Economic Adviser speaks at CII Annual Business Summit

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[00:00:00]in which they operate and the challenges uh they face in the coming years. Uh so I'm going to try and uh use my limited time to address these two aspects. So how do we get micro and small enterprises into national and global value chains? If you look at the history of uh several other countries which uh uh in more peaceful and less uncertain times were able to get their manufacturing sector to have a large share of GDP. We all know that micro small and medium enterprises in those countries played a very important role and they are not technological backwaters. they in fact are at the forefront of technology and innovation in those countries whether you look at Japan, Germany, Switzerland, Sweden uh and Korea and more recently China etc. In all these cases micro small and medium enterprises were actually one of the fountain heads of innovation and technological sophistication.

[00:01:09]How do we get our microenterprises which are relatively smaller in size if you look at them more than 90% of them are in the employment strength of about between one and five including the founding entrepreneurs the more the first there are multiple areas to focus on I will focus on the importance of trade skills no manufacturing enterprise in the country regardless of the size can function without skilled human resources And those skills will also today have to be such that that makes them important and indispensable to the enterprise so that they are not replaced by either artificial intelligence or down the road by industrial robots.

[00:01:56]So trade skills where human judgment skill and craftsmanship are important would be the areas like carpentry, electrical, plumbing, mechanical, civil.

[00:02:10]So how do micro and small enterprises make sure that they address this aspect in their own enterprises so that their employees don't feel insecure and threatened by the technological developments and they can be a source of such human resources to large enterprises. The first step is to have the entrepreneurs themselves invest in such skills personally and set an example no matter how small their workforce is and making sure that even their employees no matter whether they are in service areas like human resources or accounting or inventory management etc also invest in at least one or two of these trade skills because that is also the pathway to growth. Even if the employment strength of the average microenterprise in the country from from the ratio from the range of 1 to5 were to double that itself would contribute hugely to employment generation even if the absolute number employed by each enterprise remains still relatively modest.

[00:03:20]So investing in trade skills personally and for their own employees is the way to integrate themselves into domestic and global value chains because all enterprises in the manufacturing space are facing this shortage regardless of the size. How do you invest in these trade skills then? And this is where I think tying themselves to the budget announcement of revamping the industrial training institutes makes a lot of sense. It serves two purposes in one stone. First of all, these micro enterprises can form themselves into clusters so that there is a critical mass of them and then they can not only contribute with the help of forums such as what the CIA has founded but also through their own resources whether it is financial or non-financial to reviving and revamping some of the industrial training institutes in their vicinity.

[00:04:18]In the process they make these inst industrial training institutes come alive and repurpose themselves and also provide themselves a center of knowhow and knowledge which they can then use to upgrade themselves and make themselves relevant to domestic and international value chains of scale. So it serves two purposes because the important thing is to make the industrial training institutes an aspirational place for our youngsters to go to. For them to be in dilapidated structures and buildings which don't look appetizing or inviting for youngsters is not the way to persuade them to embrace trade skills.

[00:05:02]So therefore pulling their limited resources and using resources from larger organizations or federations and even taking up one or maximum two institutions to revive and therefore benefit in the process is one way that microenterprises can keep themselves or make themselves more relevant to the global and international value chains and that also provides them an avenue to scale from whatever size that they are at at the moment. moment to take it to the next level and then allow the uh uh uh endogenous process to play itself out uh over the years. Coming to the other stakeholders in the system as to what they can do to facilitate such u uh an approach that could be taken by microenterprises is of course policy makers across the country have to pursue and I don't mean just one particular wing or arm of the governments across the country policy makers have to pursue simple transparent and trustbased regulation because we know that the regulatory architecture places a disproportionately large burden on micro and small enterprises given their limited bandwidth. They don't have that much time to devote to complain but they are required to do so. Uh larger enterprises can outsource such task.

[00:06:25]Small enterprises or microenterprises in particular cannot afford to do that. And therefore the task across the country and and I'm and I'm glad that the uh policy makers across the country have embraces with enthusiasm based on the evidence that we presented in the economic survey of the phase one deregulation that states are doing. In fact uh phase 2 has been launched as of January this year and that is even more ambitious than the 23 deregulation areas that phase one focused on. In case you have not yet uh read it, I would recommend that you read the chapter 16 uh of the economic survey that came out in January. So smart regulation, appropriate regulation, simple, transparent and trustbased of which deregulation is a part including selfcertification, consolidation, lengthening the amount of time for which a particular uh uh approval is valid.

[00:07:23]All these things are part of this architecture which also gives uh the micro entrepreneurs the bandwidth to focus on uh personal employee and selfdevelop and and enterprise development. Last but not the least larger enterprises in the country have to pledge to contribute to relieving the working capital requirements of micro and small enterprises. In general, empirical evidence around the country shows that uh micro small and medium enterprises are the source of working capital for large enterprises. It should be the reverse and because these uh enterprises have a much higher cost of capital. So large enterprises to depend on them for working capital and most of you here know what I'm talking about I think. So starting with uh acceptance of invoices, payment on time and helping them also source uh financial resources through formal banking system and other systems etc. is a very big contribution that large enterprises around the country can do. So that these enterprises provide them the feeder in terms of knowhow in terms of technological integration and assimilation and in the process create uh a successful positive bandwagon effect in terms of integration into global value chains. I hope these uh observations are useful and are important pointers for you to reflect on. I wish the micro entrepreneurs assembled here, sitting here and elsewhere in the country a lot of success and I reassured them that policy makers are presenting smart timer hob from Beyond Appliances. Bus gas on timer set or relax. Smart timer hob by Beyond Appliances. engineered to delight.

[00:09:28]>> Thank you Anna. I think really appreciate your inputs and I think the intent is very clear but we will come back to that in the summary in terms of how do we further actualize this. So maybe let me have a quick uh first round of questions to the rest of the panel and then I'll throw it open to the audience time permitting. So a quick question to Kamal Bali and Tar Rajan. I would call it a joint question. I mean both of you come from large enterprises and both of you understand that we want to become a globally competitive manufacturing base. How do we envisage small enterprises becoming integrated and how do we accelerate their cap capability development? If I can hear from you first uh Kamill followed by D.

[00:10:16]Yeah, thank you. Thank you chairman.

[00:10:18]Thank you Mr. DH. Uh first of all before we start I really want to compliment CI for this amazing initiative. We've been involved with this for the last one and a half two years and I can tell you that the kind of on ground results which we are seeing are are are tremendous and I think uh we've already covered a lot but of course a long long way to go. We are a very large country and we have to cover a very large mass of microenterprises to come up to speed.

[00:10:49]Yeah. to uh so DH to answer your question specifically typically organizations larger organizations like like ours and others uh the we are looking at uh being competitive and uh remaining on top of the overall global value chains for which we are looking at sustainability challenges we are looking at quality we are looking at AI a number of things which we have to look at and one of the very important things is our value chains our tier one suppliers our tier 2 suppliers we are started to work with them on all these I'm not don't want to get into details but all these very important attributes and imperatives to remain competitive in this global world so when we go down to tier one tier 2 suppliers then microenterprises then become part of our tier 2 and tier three suppliers so that's the connect reach which we have with microenterprises and I think that's a very very important connect and the message is very clear that we need to work in an ecosystem approach not a transactional approach with we need to see microenterprises as uh the CA also said we should look at them and not use them for our working capital in fact if at all anything we should provide them that working capital I mean I think that should not be the purpose of those micro enterprises we are killing them by using uh their working capital. So I I'm being very frank and candid about this. So I think that's one. Then of course a lot of new tools and uh when it comes to technology, when it comes to manufacturing processes, giving them the the actual guidance also sensitizing them on sustainability, people issues, governance. These are all important issues. They might sound very bookish but no they are not bookish. very fundamental to running a good business is required and I think that is the knowledge we need to impart to them. So and simple things like those. So I think that's one I I'm sure if we do this and if there is capability we develop capability commitment capital I think the microenterprises can actually turn around the entire manufacturing ecosystem of India something which we have already always wanted that manufacturing should be much more than uh 15 20% of our GDP and we've been struggling at 15% all the time and I think this is the reason and if we can get microenterprises into our our value chains, it will become a lot easier and Volvo is committed to doing this thing.

[00:13:33]>> Thank you. Thank you for that.

[00:13:36]Uh thank you D. Uh you know uh I keep reflecting what they don't teach in the business school or what they don't teach in the corporations I work for including blue star. Uh I learned it in CI numerous subjects. Um it has been a privilege to work with you. Uh he was the chair of uh Tamilad State Council. I worked under him as a chair of southern regional chair. Uh I worked under you and it's a privilege to work with you on this huge initiative where you and your family have invested heavily into this uh entrepreneurship and skill employability subject. Um very first thing is um you know uh Dr. Raneshwar and will measure it very accurately uh that uh 35 36% of India's G GDP coming from the MSM is uh ballpark calculation uh blue stars uh value addition 65% roughly comes from MS >> so it is not uh the BRSR report doesn't ask for it I think you should insist that the companies measure and report. Uh these MSMES are not only in manufacturing, they are in EPC contracting as subcontract.

[00:15:24]we speak we look for many more partnerships. Now uh the model according to me uh which has worked uh very well is to first say the assured business that is available uh like for example um our industry continues to import uh many components. If I were to say that here is a business worth 75 crores I import today. this business is for you.

[00:15:55]If you work with me and innovate and begin to manufacture, I will be ready to invest. That model works very successfully. Or if I were to say that uh data center industry is growing in about 6 months time or in a 6 month period I will need something like 5,000 uh workers or the MEP contractors which you mentioned mechanical electrical pump plumbing that is not available. If somebody is ready to tell me in Nawi Mumbai I'll be able to give 2,000 workers per day that's the business model I will be ready to partner with 65% of uh Ashok you are aware of this figure often 65% of the air conditioners are sold in tire 345 markets there are no uh dealers out there in sufficient numbers or the service providers if I were to tell you that these are the pounds I need and please set it up and that is a micro or uh small enterprises business. So where I'm coming from is there is an assured business that is available which I will not be able to do it myself and I am providing this opportunity and I am ready to help you. This is the model that will work.

[00:17:19]>> Thank you J. Let me move to you Lakshmi.

[00:17:22]I think you have been working many years in nurturing entrepreneurship in microenterprises.

[00:17:27]So actually what do you think is the most important connecting point in further scaling this up and making it grow?

[00:17:36]Thank >> Thank you D. Um you're absolutely right.

[00:17:40]We've been striving for over 30 years to create a conducive environment for uh micro entrepreneurs particularly at the startup phase. So I think of this platform as a rare treat uh to have someone like uh a top policy adviser like Anantanaguran not only have a sweeping knowledge of any everything from macro to the micro but actually spend time and interest in focusing on something like the microenterprise. I think these are rare times and uh definitely I think uh the CIL uh center DH and CI started is uh going to create a lot of spotlight shine a lot of spotlight on microenterprises.

[00:18:23]Um having said that I think some of the challenges we face particularly I'm going to address for the starting phase of these microenterprises. We create about 10,000 new startups every year.

[00:18:37]Um, if you go into the hintterlands of India into the small towns and aspirational districts. Frankly, people have no clue as to what it means to set up an enterprise. Leave alone how to go about it. They think small, they start small and if they are lucky, they survive.

[00:18:57]So for example, what is it that we can do to create awareness about the viability of a microenterprise? In a district like Kalahandi for example, we did some business idea contest. We created uh um awareness camps and uh we did uh mentoring and counseling. That year the percentage of more than 20% more enterprises were started in that very first year because of that. And not only that, the average loan size in the Kalahandi area was about one lakh uh because the banks just didn't have the confidence. After we did this, the average loan size now is five lakhs within that very first year. So I believe that awareness particularly we're talking about Lak, we talking about the northeast, we talking about even Lakshad and why not uh we should be thinking about this. So why not the government have a awareness campaign like a swatch or a Janganojana campaign?

[00:19:56]Why not have such a campaign to create awareness about the micro entrepreneurs?

[00:20:01]I think that kind of a knowledge on a wider scale would be useful. Second, the government has been um I think uh in 2025 they increased the um investment limit and the uh turnover limit in how you define a microenterprise. Now why that is good because it brings more people into the ambit. What really happens is when you're talking about the startup phase, the challenges and needs of these people get lost. The average loan size of a mudra today all three combined is 74,000 rupees. We are talking about now 2.5 crores as the investment and 10 crores as the turnover limit for definition. So in some sense what happens to all these people what are their challenges and what do they need? Perhaps the Odisa government I know a year ago created a category called nano entrepreneurs. So I don't know whether we should go on adding more categories but nevertheless the startup phase when you keep increasing the upper limit does have this problem. Uh another more broader um uh request or recommendation is the fact that very often we talk about subsidies we talk about uh GST compliance uh uh issues and so on and we talk in terms of size. Can we link to a situation where if you were to incubate a unit whether it is in a rural area or whether it is an IIT ruri doesn't matter when we incubate can we think of a timebound type of support rather than a size based support so within the first 3 years you have practically no compliances to be bothered with you get access to capital which is you know which is relatively easier to uh get and on top of it all of your needs and your training and your mentoring all gets taken care of in an intensive manner. What then we do is we create we focus all of our efforts in the first three years and thereafter we assume that these people have got the capacity already built in them to grow.

[00:22:09]But once we don't do that then people who have been there for 10 years are making use of the same subsidies whereas the people who are in the beginning are not getting enough subsidies or enough support of the kind that they need. So I think these are the two broader ones. Of course uh the issue about um the Mudra loan size being too small and not you need at least five to six lakhs today to create that 10 jobs. All of our entrepreneurs create 10 jobs direct and about 40 jobs indirect uh over the last 30 40 years is what you've seen but they need an initial capital investment of at least four to five lakhs uh to begin with. The second thing of course is when you want to integrate mentoring I believe that we are talking about training training institutes and so on can we adopt the same attitude that a Silicon Valley enterprise creates because when you start one of the first things the venture capitalist does is to provide mentoring without that it's a twin support both when VC and the mentoring but somehow when we come to these kind of startups and microenterprises we don't understand the importance of mentoring So we have been doing in the last uh several years embedding mentoring into the institutional framework any touch point to which a micro entrepreneur will start going to whether it be in educational institutes or whether it be banks, district industry commissions. So for example the mentoring program which is again structured the CA has said before that we should be looking at not uh these uh microenterprises as welfare recipients but we must capacity build them from the very beginning. If you were to take that attitude, the mentoring program that we have uh been adopted by IIT Rubi has been just as successful in the government politic in Beusarai and Bihar. So I think we need to start thinking about microenterprises as poor cousins. We need to be thinking not of startups and then there is microenterprise and within the microenterprise there is the absolute startup phase. A good beginning is well done half done. So if you don't start from them well um subsistence businesses are not going to scale.

[00:24:24]>> Very good points I think. Thank you for all those inputs. I think we will definitely I mean I think CA himself has heard it. So we will see how to inculcate that into our thinking itself.

[00:24:34]Uh we were supposed to have open questions but we have less than five minutes. Maybe I'll just take one question. Yes. Go ahead.

[00:24:46]Yeah know congratulations DH very quick analysts so one very quick observation CA very correctly talked about credit stress for MSMES there are fine companies which pay within 45 days there are many which don't and sir exports is becoming more of a challenge sir because the extended supply chains uh 35% of exports are from MSME sustaining it is going to be difficult if the situation continues. Thank you and fantastic job today. Thank you.

[00:25:18]Please I want to congratulate Naguran Sab who has given a very very right thing on the ground thing and I just want to make a comment on Agarvan Sab and Wangadeshwanji who has commented on something. So Nagarishan Sab has told the unlocking the working capital of the microenterprises. It is not only about the unlocking of the working capital but it will also unlock lot of time and inefficiency with this particular payment delayed payment and non-payment of the large enterprises or the government enterprises to the microenterprises you uh see the figures when nag sak was talking I was just checking the google that how many microenterprises we are having in the country we are having around 7.88 88 kores registered microenterprises. Apart from that there may be many unregistered microenterprises. We have 500 to 5,000 kores 7429 registered entities who lost the turnover of more than 500 crores. 5,000 crores it is 772 units. So it is just about the uh units which are having more than 500 crores of turnover. These are just 0001% of microenterprises. So I think so we have lot of working capital lot of energy what a time we have lot for these many of largest of the largest stakeholders on the vacantation I just commend that this the thing because when the microenterprises as a startup comes without any knowledge or any training they disrupt the system. We talk right now about the quality of the system, the quality of the product and the services.

[00:27:02]We also talk about the startup. I think so taking everything along we are losing the largest of the largest scope. What I think so the model should be that the training of the enterprises should be there. Definitely they should not barrier. We should not be creating barrier but when they are having the particular knowledge training then only they should be coming on the road because it will be like that license they have not they have not got the license and they are on the road to drive the car definitely the will be happening so congratulations for that and thank you >> thank you sorry one last question from the back and then we close >> I was actually looking for questions but I think we have got comments but yeah hi Good morning. My name is Son. So my question is large enterprises or a medium enterprises more than 300 400 companies. So they are spending lot of money on their MSME supply chain skill development. Whereas on other hand government is also you know initiating some kind of a certification program which is zero effect zero defect and lean MCLS and you know I am already serving to various large enterprises but I see the the pitch is very very low right now. Government is also having the similar problem. People are not changing their tire from micro to small to the medium. And here you know many large enterprises are here. Wonderful program.

[00:28:23]Many benefits for MSME but still lack of awareness and you know that is my question that skill building is available. Government is doing the same but it is not leveraging. On other hand lot of money is already spended and I will give a congratulation to the forum and also the similar scheme is already adopted by blue star team. we already supported them. So this is about the zero defect, zero effect sustainable certification scheme. Thank you very much.

[00:28:50]>> Thank you. So we have to unfortunately bring an end to this big moment and again at least people who have walked the talk we just wanted to use our having uh the CA here to facilitate them in his with just request the momentos to be handed over.

[00:29:15]>> Thank you sir. It is now an honor to recognize and felicitate organizations who have contributions had made a meaningful difference. May I request our chief guest Dr. Anant Nageshwaran, Chief Economic Advisor, Government of India and CIC CEL Chairman Mr. Adinesh to kindly felicitate our partners. We begin with Volvo Group Trust in appreciation of your support and unwavering commitment to the national micro and small entrepreneurs development program supporting entrepreneurs across 11 states. May I request Mr. Kamal Bali, president and managing director Volvo Group India to kindly come forward to receive the momentum.

[00:30:00]Distinguished panelists, ladies and gentlemen, uh you know the I must first of all commend CIA not only for setting up this session but also for a very succent blur for this session which sets the context very well particularly the last two sentences and I want to focus on them ensuring the effective integration of microenterprises into the evolving global and more importantly domestic value chains and the second sentence last sentence says the future of India's growth will be shaped by how inclusively these enterprises are enabled to adopt adapt scale and compete so I think that captures the world in which they operate and the challenge challenges uh they face in the coming years. Uh so morning to the members of the CI entrepreneurs development forum, distinguished panelists, ladies and gentlemen.

[00:31:12]Uh you know the I must first of all commend CI not only for setting up this session but also for a very succinct blur for this session which sets the context very well. Particularly the last two sentences and I want to focus on them. ensuring the effective integration of microenterprises into the evolving global and more importantly domestic value chains. And the second sentence, last sentence says the future of India's growth will be shaped by how inclusively these enterprises are enabled to adopt, adapt, scale and compete. So I think that captures the world in which they operate and the challenges uh they face in the coming years. uh so I'm going to try and uh use my limited time to address these two aspects. So how do we get micro and small enterprises into national and global value chains? If you look at the history of uh several other countries which uh uh in more peaceful and less uncertain times were able to get their manufacturing sector to have a large share of GDP. You all know that micro, small and medium enterprises in those countries played a very important role and they are not technological backwaters. They in fact are at the forefront of technology and innovation in those countries whether you look at Japan, Germany, Switzerland, Sweden uh and Korea and more recently China etc. In all these cases, micro, small and medium enterprises were actually one of the fountain heads of innovation and technological sophistication.

[00:33:01]How do we get our microenterprises which are relatively Importance of trade skills.

[00:36:03]No manufacturing enterprise in the country regardless of the size can function without skilled human resources.

[00:36:12]And those skills will also today have to be such that that makes them important and indispensable to the enterprise so that they are not replaced by either artificial intelligence or down the road by industrial robos.

[00:36:28]So trade skills where human judgment skill and craftsmanship are important would be the areas like carpentry, electrical, plumbing, mechanical, civil.

[00:36:42]So how do micro and small enterprises make sure that they address this aspect in their own enterprises so that their employees don't feel insecure and threatened by the technological developments and they can be a source of such human resources to large enterprises. The first step is to have the entrepreneurs themselves invest in such skills personally and set an example no matter how small their workforce is and making sure that even their employees no matter whether they are in service areas like human resources or accounting or inventory management etc also invest in at least one or two of these trade skills because that is also the pathway to growth. Even if the employment strength of the average microenterprise in the country from from the ratio from the range of 1 to5 were to double that itself would contribute hugely to employment generation even if the absolute number employed by each enterprise remains still relatively modest. So investing in trade skills personally and for their own employees is the way to integrate themselves into domestic and global value chains because all enterprises in the manufacturing space are facing the shortage regardless of the size. How do you invest in these trade skills then? And this is where I think tying themselves to the budget announcement of revamping the industrial training institutes makes a lot of sense. It serves two purposes in one stone. First of all, these microenter enterprises can form themselves into clusters so that there is a critical mass of them and then they can not only contribute with the help of forums such as what the CIA has founded but also through their own resources whether it is financial or non-financial to reviving and revamping some of the industrial training institutes in their vicinity. In the process they make these inst industrial training institutes come alive and repurpose themselves and also provide themselves a center of knowhow and knowledge which they can then use to upgrade themselves and make themselves relevant to domestic and international value chains of scale. So it serves two purposes because the important thing is to make the industrial training institutes an aspirational place for our youngsters to go to. For them to be in dilapidated structures and buildings which don't look appetizing or inviting for youngsters is not the way to persuade them to embrace trade skills.

[00:39:34]So therefore pulling their limited resources and using resources from larger organizations or federations and even taking up one or maximum two institutions to revive and therefore benefit in the process is one way that microenterprises can keep themselves or make themselves more relevant to the global and international value chains and that also provides them an avenue to scale from whatever size that they are at at the moment. moment to take it to the next level and then allow the uh uh uh indogenous process to play itself out uh over the years. Coming to the other stakeholders in the system as to what they can do to facilitate such u uh an approach that could be taken by microenterprises is of course policy makers across the country have to pursue I don't mean just one particular wing or arm of the government across the country policy makers have to pursue simple transparent and trustbased regulation because we know that the regulatory architecture places a disproportionately large burden on micro and small enterprises given their limited bandwidth. They don't have that much time to devote to complaint but they are required to do so. Uh larger enterprises can outsource such tasks.

[00:40:57]Small enterprises or microenterprises in particular cannot afford to do that. And therefore the task across the country and and I'm and I'm glad that the uh policy makers across the country have embraces with enthusiasm based on the evidence that we presented in the economic survey of the phase one deregulation that states are doing. In fact, phase 2 has been launched as of January this year and that is even more ambitious than the 23 deregulation areas that phase one focused on. In case you have not yet uh read it, I would recommend that you read the chapter 16 uh of the economic survey that came out in January. So smart regulation, appropriate regulation, simple, transparent and trustbased larger enterprises in the country have to pledge to contribute to relieving the working capital requirements of micro and small enterprises. In general, empirical evidence around the country shows that uh micro small and medium enterprises are the source of working capital for large enterprises. It should be the reverse and because these uh enterprises have a much higher cost of capital. So large enterprises to depend on them for working capital and most of you here know what I'm talking about I think. So starting with uh acceptance of invoices, payment on time and helping them also source uh financial resources through formal banking system and other systems etc. is a very big contribution that large enterprises around the country can do. So that these enterprises provide them the feeder in terms of knowhow in terms of uh technological integration and assimilation and in the process create uh a successful positive bandwagon effect in terms of integration into global value chains. I hope these uh observations are useful and are important pointers for you to reflect on. I wish the micro entrepreneurs assembled here, sitting here and elsewhere in the country a lot of success and I reassured them that policy makers are keeping their growth and aspirations very much at the center of all the uh policy initiatives that have been taken in the last decade or so and will continue to be taken keeping their interests and aspirations in mind because the country's aspirations are intertwined with theirs. THANK YOU VERY MUCH.

[00:44:00]THANK YOU ANAND. I THINK REALLY appreciate your inputs and I think the intent is very clear but we will come back to that in the summary in terms of how do we further actualize this. So maybe let me have a quick uh first round of questions to the rest of the panel and then I'll throw it open to the audience time permitting. So a quick question to Kamal Bali and Tar Rajan I would call it a joint question. I mean both of you come from large enterprises and both of you understand that we want to become a globally competitive manufacturing base. How do we envisage small enterprises becoming integrated and how do we accelerate their cap capability development? If I can hear from you first Kamill followed by D.

[00:44:48]>> Yeah thank you. Thank you chairman.

[00:44:50]Thank you Mr. DH. Uh first of all before we start I really want to compliment CI for this amazing initiative. We've been involved with this for the last one and a half two years and I can tell you that the kind of on ground results which we are seeing are are are tremendous and I think uh we've already covered a lot but of course a long long way to go. We are a very large country and we have to cover a very large mass of microenterprises to come up to speed.

[00:45:21]Yeah. to uh so DH to answer your question specifically typically organizations larger organizations like like ours and others uh the we are looking at uh being competitive and remaining on top of the overall global value chains for which we are looking at sustainability challenges we are looking at quality we are looking at AI a number of things which we have to look at and one of the very important things is our value chains our tier one suppliers our tier 2 suppliers we have started to work with them on all these I'm not don't want to get into details but all these very important attributes and imperatives to remain competitive in this global world so when we go down to tier one tier 2 suppliers then microenterprises then become part of our tier 2 and tier three suppliers so that's the connect which we have with microenterprises and I think that's a very very important connect and the message is very clear that we need to work in an ecosystem approach not a transactional approach with we need to see microenterprises as the CA also said we should look at them and not use them for our working capital in fact if at all anything we should provide them that working capital I mean I think that should not be the purpose of those micro enterprises we are killing them by using uh clear working capital. So I I'm being very frank and candid about this. So I think that's one. Then of course a lot of new tools and uh when it comes to technology when it comes to manufacturing processes giving them the uh the the actual guidance also sensitizing them on sustainability, people issues, governance. These are all important issues. They may might sound very bookish but no they are not bookish. very fundamental to running a good business is required and I think that is the knowledge we need to impart to them. So I'm simple things like those. So I think that's one I I'm sure if we do this and if there is capability we develop capability commitment capital I think the microenterprises can actually turn around the entire manufacturing ecosystem of India something which we have all always wanted that manufacturing should be much more than 15 20% of our GDP and we've been struggling at 15% all the time and I think this is the reason >> and central lines fellow metal head. Very funny, bro.

[00:48:27]Mr. Racer, if you're here, then who's handling the valley?

[00:48:30]>> Racing is the real thing, bro. Unlike you who headbangs even at a gazelle.

[00:48:36]>> Wait a minute.

[00:48:47]There's a watch for every fixation. Fast track. Never same, never sane. The target of developed country bharat said by our honorable prime minister Modi gi we need to grow in the range of 7 to8% in the next uh 2020