India’s SMEs take centre stage at HSBC-CNBC-TV18 champion awards season 2

New Delhi: CNBC-TV18, in partnership with HSBC India, hosted the second edition of the SME Champion Awards on 25 July 2025 at the Taj Mahal Hotel, New Delhi.

The event highlighted the contributions of small and medium enterprises (SMEs) to India’s economic development, recognising businesses that have demonstrated resilience, innovation and community focus.

The evening opened with a welcome note from Shereen Bhan, Managing Editor, CNBC-TV18, who reiterated the network’s longstanding commitment to spotlighting India’s real economy. “It is a privilege to open Season 2 of the HSBC Presents CNBC-TV18 SME Champion Awards, a platform dedicated to celebrating the true engines of India’s economic momentum. Small and medium enterprises are not just businesses;

they are drivers of employment, innovation, and resilience. Over the last few years, SMEs have navigated challenges with determination, from pandemic disruptions to global supply chain shifts, and have continued to grow, adapt, and lead.”

The keynote address was delivered by the Guest of Honour, Jyotiraditya Scindia, Minister for Communications and Development of North Eastern Region, Government of India. 

Addressing an audience of entrepreneurs, policymakers, and jury members, he highlighted the importance of empowering SMEs through policy, credit, and infrastructure. “India’s true transformation is being written not in the towering glass buildings of metros alone, but in the silent, steady rise of entrepreneurs across every lane and landscape of this country. From small towns to remote villages, from hand-built workshops to digital storefronts, they are turning ideas into enterprises and ambition into impact. 

These are not just SMEs; they are the soul of India’s economy. What they lack in scale, they make up for in spirit. With innovation as their toolkit, resilience in their bones, and purpose lighting their path, they are reimagining what’s possible. 

What was once seen as local is now proudly global. And what was once called small is now leading the charge into India’s century. This is not the future; it is already underway. Today, entrepreneurs from even the most remote corners of India can brand, process, and sell their products in global markets, thanks to the power of digital infrastructure. A shining example of this is our UPI ecosystem, which has witnessed a staggering 2.16 trillion transactions annually, amounting to nearly $3 trillion. Remarkably, 46% of the world’s digital transactions now originate from Bharat. This is not just digital progress, it’s digital leadership,” he remarked.

Guest of Honour, Shobha Karandlaje, Minister of State in the ministry of MSME; and Ministry of Labour and Employment, GoI highlighted the government’s continued focus on SMEs. “India’s SMEs are not only engines of economic growth but also vehicles of social transformation. 

Whether it’s rural employment, women-led ventures, or value-driven exports, SMEs are ensuring inclusive development. Platforms like the SME Champion Awards play a vital role in recognising these silent contributors and inspiring others,” she said. 

She further added, “MSMEs have always been at the heart of India's development, from Mahatma Gandhi’s call to support small and cottage industries during the freedom struggle, to today’s rural entrepreneurs driving change on the ground. Today, 2.6 million women and 85% SC/ST entrepreneurs are registered on the MSME portal, clear proof that even in rural India, people are stepping forward to build their own businesses and shape their own futures. 

As we welcome a new year, the next generation will take the lead, and many will rise from India’s MSME sector. With Indian Government support through subsidies, tech upgrades, and export incentives, MSMEs are scaling up to meet global demands. This is no longer a growing sector, it’s a transforming force. By 2047, India’s rise as a global powerhouse will be driven not just by big business, but by millions of small enterprises building boldly and inclusively.”

The awards recognized outstanding enterprises across sectors such as manufacturing, exports, sustainability, digital transformation, and community engagement. Key highlights included the Special Jury Awards for SME Entrepreneur of the Year and SME Woman Entrepreneur of the Year, which acknowledged individuals for their resilience and innovation. Other award categories included Excellence in Tech Export Promotion, Goods Export Promotion, Community Engagement, and Sustainability Practices, which also featured a Special Jury Mention.

Awards were presented by Jyotiraditya Scindia, Minister for Communications and Development of North Eastern Region, Government of India; Smt. Shobha Karandlaje, Minister of State in the ministry of MSME; and Ministry of Labour and Employment, GoI and Rajesh Kumar Singh, Defence Secretary of India along with Ajay Sharma, Head - Banking, HSBC India.

Jury members who attended the event and participated in the final evaluation process included Dinesh Kumar Khara, Former Chairperson, State Bank of India; Subhash Chandra Garg, Former Finance and Economic Affairs Secretary of India; B Thiagarajan, Managing Director, Blue Star; Shashank Srivastava, Member, Executive Committee, Maruti Suzuki India; Subhrakant Panda, Managing Director, Indian Metals and Ferro Alloys. and Former President, FICCI; Chandrakant Salunkhe, Founder and President, SME Chamber of India and Start-up Council of India and Manish Singhal, Secretary General, ASSOCHAM.

A compelling fireside chat with Rajesh Kumar Singh, Defence Secretary of India, offered a strategic perspective on the role of SMEs in India’s defence sector,“Self-reliance in defense is not a destination, it is a layered process that demands trust in our own industrial base, commitment to indigenous innovation, and the courage to invest in long-term capability. From MSMEs supplying critical sub-systems to private players stepping into complex production roles, every link in the supply chain matters.

We cannot afford to rely solely on imports when the next conflict may demand speed, autonomy, and resilience. The real strength of a nation lies not just in the firepower it possesses, but in its ability to design, develop, and deliver that power from within”, he remarked.

Hitendra Dave, CEO, HSBC India, closed the evening with a strong message of support for India’s SME sector, “At HSBC, our role in the SME Champions Awards isn’t just about recognition, it’s about responsibility. Everyone talks about Viksit Bharat, but it won’t happen on slogans alone. Someone has to roll up their sleeves and do the work.

Entrepreneurs need global access, and that’s where we come in, we understand international buyers, their quality expectations, payment cycles, and reliability metrics. Through partnerships like this one with CNBC-TV18, we aim to bridge the gap and help Indian SMEs become key players in global supply chains. Honestly, running a multibillion-dollar company might just be easier than managing a Rs 20 crore one, so this is our way of saying, well done, we see you, and we salute you.”

The evening ended with a performance by Rajasthani folk artist Mame Khan.