IIM Ranchi hosted the 'MSME Conclave 2025'. The event, titled 'Venture Latitude: MSME Ecosystem and Innovation Solutions', aimed to inspire management students to explore micro and small-scale industries. Anand Kothari, Chairman, AHARI Committee of Federation of Jharkhand Chamber of Commerce & Industries (FJCCI), attended as the Chief Guest. Distinguished Guests included Shri Aditya Kumar and Shri Aditya Shah from FJCCI, Ganesh Khude from National Skill Development Corporation (NSDC), Vidyadhar Shah from National Thermal Power Corporation (NTPC), along with Shri Philip Mathew and Shivam Singh from Jharkhand Small Industries Association (JSIA).
IIM Ranchi Director Prof. Deepak Srivastava highlighted the objectives of the conclave, stating that entrepreneurship cannot be achieved through specific education or skills alone. It requires developing technology and products based on societal needs. Micro and small-scale industries are the foundation for envisioning large industries and require a fresh perspective. To sustain in the market, both competition and capital are essential. Establishing oneself as an entrepreneur demands innovative thinking and the proper utilization of opportunities. Through micro and small-scale industries, job creation for the community becomes possible.
Kothari discussed the potential of micro and small-scale industries in Jharkhand in the evolving times. He noted that India aims to become one of the world's major economies by 2030, which cannot be achieved through large corporations alone. Transforming social structures into economic growth requires the development of small-scale industries. Young people have a unique opportunity, as Jharkhand is abundant in resources. Today, many individuals are leaving high-paying jobs to establish agriculture-based industries in rural areas. Organic farming serves as an example, where businesses have started yielding significant profits by their third year.
During the conclave, a panel discussion was held with the distinguished guests, moderated by Prof. T Vijay. Experts shared valuable insights on establishing micro and small industries, including essential capital, strategy, technology, skilled workforce management, product classification, and import-export processes. Experts from various fields addressed students’ queries comprehensively.
The event also featured a case competition and presentation, where student teams showcased ideas related to MSME. Teams presented on topics like supply chain efficiency, financial management, workforce productivity and training, and leveraging technology. The winning awards went to the presentations by Team Synergy Squad, Team Rise, Team Neha, and Team Pinnacle Partners. Prof. Rajeev Verma and Prof. Varun Elembilassery played pivotal roles in organizing the conclave. The event was further honoured by the presence of the Dean of Academics at IIM Ranchi, Prof. Tanusree Dutta, along with Prof. Radha Yadav, Prof. Sobhan Sarkar, and other esteemed faculty members.
