MSMEs: Integration for 7-8% Growth - Bery

New Delhi, Mar 6 (PTI) Micro, small and medium enterprises (MSMEs) need to be integrated into larger supply chains to drive real competitiveness and achieve 7-8 per cent economic growth, NITI Aayog Vice Chairman Suman Bery said on Thursday.

Addressing an event organised by industry body CII, Bery further said growth happens through innovations and gains from trade, but sustaining momentum is harder when you are doing well.

"The challenge is to keep pushing forward -- India's corporate sector must step up, and MSMEs need to be integrated into larger supply chains to drive real competitiveness and achieve 7-8 per cent growth," he said.

Speaking on India's growth prospects, Bery said that the country has staged a remarkable economic recovery post-COVID, emerging as the fastest-growing large economy in the world, as acknowledged by the IMF.

"With moderate inflation and declining poverty levels, the country is on a strong growth trajectory. The challenge now is to sustain and accelerate this momentum," he said.

Bery noted that historically, India has functioned as a collection of regional economies rather than a single integrated market.

"But with GST and major infrastructure investments, we are now transitioning into a truly unified national economy. This integration will be one of the most powerful drivers of India's future growth," he said.

Highlighting the importance of sustainability, Bery said that as the world moves towards greener supply chains, Indian enterprises -- both large and small -- must adapt.

"Sustainability is no longer just about compliance; it is becoming a core factor in global competitiveness," he said, adding that MSMEs must be supported in this transition, ensuring they are part of a greener, more resilient industrial ecosystem.