Economic nationalism is imperative for our nation’s prosperity and sovereignty and we all need to subscribe to it, said Shri Jagdeep Dhankhar, Hon’ble Vice President of India

PR No – 37

16th February, 2024

New Delhi


Economic nationalism is imperative for our nation’s prosperity and sovereignty and we all need to subscribe to it, said Shri Jagdeep Dhankhar, Hon’ble Vice President of India


Startups and MSMEs are the backbone of Indian economy. They are not just business ventures but bearers of innovation, resilience, and the entrepreneurial spirit that defines us, said, Hon’ble Vice President of India, Shri Jagdeep Dhankhar in PHDCCI’s Bharat Startup & MSMEs Summit-2024 organised at Dr. Ambedkar International Center on February 16, 2024.

Startups and MSMEs are the birthplace of ground-breaking ideas and technologies, pushing the boundaries of what is possible. By providing local solutions, creating jobs, and promoting regional development, they play a crucial role in empowering communities, added shri Dhankhar.

MSMEs contribute significantly to employment generation, regional development, and inclusive growth. They account for about 30% of India’s GDP, 45% of manufacturing output, and provide employment to over 11 crore individuals.

Empowering the common person to think big beyond urban interests is crucial. While vertical growth is necessary, horizontal development is equally vital. Gender neutrality must be prioritized without delay, the reservation introduced last year isn’t political but indispensable. Women are excelling across sectors, from Defense to ISRO, driving national progress. To advance this momentum, our government has launched the Women Entrepreneurship Platform, bolstering female entrepreneurs. Economic nationalism is imperative for our nation’s prosperity and sovereignty, added Shri Dhankhar.

Let us all commit to supporting the growth of startups and MSMEs, to fostering an environment where innovation thrives, and to working together towards a future that is prosperous, sustainable, and equitable, added Hon’ble Vice President.

Shri Dhankhar appreciated PHDCCI towards its relentless efforts in mentoring and uplifting the Indian Startups and MSMEs & mentioned that today’s summit is another outstanding contribution from PHDCCI towards its contribution to Hon’ble PM vision of a Viksit Bharat by 2047.


Mr. Sanjeev Agrawal, President, PHDCCI in his address how the government’s emphasis on innovation and R&D has positioned India as a global hub for cutting-edge solutions. Initiatives such as the Atal Innovation Mission, SIDBI Fund of Funds and Startup India have catalyzed a culture of problem-solving and technological advancements, making India a cradle for innovation.

Cultivating an entrepreneurship culture has been at the forefront of the government’s agenda. By fostering an environment that encourages risk-taking, creativity, and resilience, the government has empowered countless individuals to turn their visions into realities, contributing to the nation’s prosperity.


Hemant Jain, Senior Vice President, PHDCCI, emphasised that the Government of India has been the backbone of our entrepreneurial ecosystem, launching numerous initiatives aimed at creating a conducive environment for startups and MSMEs. With more than 110 unicorns, India’s entrepreneurial landscape is a testament to our collective vision and relentless pursuit of innovation. The government’s focus on MSME development and entrepreneurship training ensures that this demographic potential is harnessed to its fullest, driving India towards unprecedented economic heights.

While moderating Yashraj Akashi, Co-Chair, PHDCCI Startup Committee, Appreciated the govt for its indispensable support towards building an effevtive statup ecosystem and assured PHDCCI’s continuous support in handholding and mentoring the startups and leading them to a path to become unicorns in the near future.

Dr. Ranjeet Mehta, Executive Director, PHDCCI, said, policymakers and industry leaders to entrepreneurs and investors, your collective wisdom and engagement will be invaluable in charting the course for transformative change in the startup and MSME ecosystem.



Warm Regards,

Media Division

PHD Chamber of Commerce and Industry