By Archana Jahagirdar, Founder & Managing Partner of Rukam Capital
“Our Finance Minister, Nirmala Sitharaman, reiterated in her budget speech how MSMEs are driving India’s Viksit Bharat 2047 vision. She highlighted three key kartavya: accelerating and sustaining economic growth, fulfilling people’s aspirations, and building capacity while ensuring every family, community, and region gains access to resources. These priorities align seamlessly with the pillars of India’s maturing startup ecosystem.
MSMEs serve as a vital engine for growth. Initiatives like equity support through a dedicated ₹10,000 crore fund for future MSME champions, plus a ₹2,000 crore top-up to the Self-Reliant India Fund, empower entrepreneurs to invest in R&D and scale innovative products and services.
Liquidity measures-such as invoicing platforms, credit guarantees, and “Corporate Mitras” for compliance support- further catalyse the ecosystem.
As our finance Minister noted, the next growth phase for MSMEs will emerge from tier-II and tier-III cities, positioning them as new engines of progress. These budget policies not only support but propel the Indian startup ecosystem, enabling businesses to thrive and innovate.
In essence, by nurturing MSMEs, India is laying a robust foundation for inclusive, sustainable development. This strategic push will unlock entrepreneurial potential nationwide, propelling us toward government’s Viksit Bharat 2047 vision.”
“The proposed review of FEMA non-debt rules, alongside a renewed vision for NBFCs and banking reforms under Viksit Bharat, signals a decisive shift towards a more modern, efficient and investor-friendly financial ecosystem. By aligning regulation, scale, and technology with India’s next phase of growth, this Budget lays the foundation for deeper capital formation, stronger institutions, and sustainable long-term development”
“From Ayurveda and biopharma to textiles, semiconductors, urban finance and advanced manufacturing, this Budget clearly shows the government’s intent to systematically build and deepen critical ecosystems. By pairing long-term capital, institutional capacity and manufacturing scale with policy clarity, India is empowering existing start-ups to innovate, commercialise and compete globally in addition to budding entrepreneurs to innovate in segments. This ecosystem-first approach is exactly what will fuel the next wave of high-impact Indian startups under the Viksit Bharat 2047 vision while at the same time make India self-reliant and a global powerhouse”
