MP for Mysuru Yaduveer Krishnadatta Chamaraja Wadiyar underscored the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in India’s economic transformation and to achieve the vision for a “Viksit Bharat” by 2047.
Mr. Yaduveer described MSMEs as one of the engines powering the country’s growth.
He was delivering the keynote address of the CII-MSME Summit 2025 here on Saturday, organised by the Confederation of Indian Industry (CII), Mysuru chapter.
Mr. Yaduveer touched upon Prime Minister Narendra Modi’s long-term vision for a developed India and said that for the first time in India’s democratic history, the leadership has taken a structured approach toward economic progress with a clear roadmap.
He said that the government has recognised the MSMEs’ potential to drive economic growth and pointed out special emphasis in the Budget for traditional toy manufacturing hubs like Channapatna and Koppal in the State.
Mr. Yaduveer urged industrialists to seize opportunities in sustainable toy production, which aligns with global trends favouring eco-friendly products.
“Koppal and Channapatana are heritage toy-making hubs and industrialists should seize the opportunity as global toy manufacturing is an area of significant focus worldwide. India has the potential to lead in sustainable toy making, creating products that are beneficial for children. Instead of using plastics, these toys can be crafted from organic materials, positioning India as the manufacturing hub for the entire world,” said Mr. Yaduveer.
He also addressed taxation reforms, emphasising the shift from a punitive tax framework to a taxpayer-friendly system, and cited increased income tax exemption limit and continuous enhancements to GST policies as examples of it.
Citing a recent GST revision on pepper in Kodagu, Mr. Yaduveer pointed out how government intervention has benefited agricultural producers.
Concerning the infrastructure push in Mysuru, Mr. Yaduveer referred to airport expansion and said that it would be ready within two years.
Referring to the Mysuru-Kushalanagar railway line, Mr. Yaduveer said that the State government had deferred its part of the contribution and that the Centre was working on how it could step in and intervene to kickstart the works.
Underlining its importance, he said that it would help MSMEs and agriculturists in Kodagu and reduce the cost of transportation. Regarding the greenfield Mysuru-Kushalnagar highway, Mr. Yaduveer said that the land acquisition process was going on at a fast pace.
Mr. Yaduveer also made a note of caution and urged industrialists to actively participate in policy-making and ensure sustainable development of Mysuru, learning from unplanned urban growth challenges faced by Bengaluru. “Mysuru is uniquely positioned to learn from the Bengaluru experience and has organic growth but that will be possible only if industrialists actively engage with policymakers,” he added.
The CII event was held to foster sustainable growth and accelerate Mysuru’s economic development, and senior industry leaders from the region and State were present.
Published - March 01, 2025 07:33 pm IST
