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Mint
4 days ago
- Business
- Mint
Tally MSME Honours 2025: Stories of resilience, innovation, and purpose
A silent force is at work in the story of India's growth into an economic superpower. It is reshaping markets and redefining success. It is a movement not born in boardrooms but in workshops, kitchens, and start-ups operating across the length and breadth of the country. It is the story of India's Micro, Small, and Medium Enterprises (MSMEs), and it is nothing short of a revolution. Figure this: In Kolkata, Raghav Agarwal of Umay Benaras is weaving heritage Bararasi traditions into high-street global luxury fashion. By blending age-old weaving traditions with modern design sensibilities, he has created a brand that not only commands a premium but also restores dignity for local artisans who are its heart. In Darbhanga, Shravan Kumar Roy turned a humble superfood 'makhana' into a gourmet snack brand by fusing his food-tech expertise with regional pride. His focus on value addition and smart packaging created new markets for a traditional product, making it aspirational and accessible. Gaurang Agashe's journey with Unbox Your Desire is one of bold reinvention. Starting with food delivery, he has now pivoted into a tech-first platform for pharma logistics and home services, proving that a single, purpose-driven idea can be the foundation for an entire ecosystem of solutions for real-world needs. In Burdwan, Nandini Bhattacharyya of APN Industries defied deep-seated social biases in the manufacturing sector to build a successful electrical components business. Her story is a powerful reminder that quality and persistence can overcome any prejudice. In Gurugram, Utkarsh Khandelwal's Infloso AI is not just building a business – it is defining the future of marketing. His AI-powered marketer, Molly, is already working with global giants and government bodies, showing that an Indian MSME can be a global leader in the most cutting-edge of fields. With 1.5M+ users, 11,000+ brands on the waitlist, and successful pilots with global giants like Lowe's USA, Suzuki, Panasonic, Zepto, and government bodies in Japan and India, Infloso is scaling rapidly across five countries. These are some of the stories that the fifth edition of Tally MSME Honours, held across 7 cities in early July, brought to light. Each of the 20,000+ entries was a powerful story of transformation, rooted in resilience, innovation, and purpose. They show that across India, MSMEs are not just surviving. They are innovating and proving that our country's economic future is not being built just by a few corporate giants, but the hard work of millions of small businesses who are dreaming big. From Tech Transformers, who are reimagining operations through digital tools, to inspiring participation from Tier 2 towns like Karad, Sivakasi, and Bhilwara, the scale and depth of transformation were noteworthy. 'One of the most striking trends from this year's Tally MSME Honours 2025 was the digital transformation led by legacy businesses, many of them run by seasoned entrepreneurs in their 60s - 70s. Particularly within the Tech Transformer category, it was inspiring to see these long-established business leaders embracing technology not as a disruption, but as an essential step to stay relevant and future-ready,' said Jayati Singh, Chief Marketing Officer & Interim India Business Head at Tally Solutions Pvt Ltd. Using digital as an enabler MSME's today contribute to about 30 per cent of our Gross Domestic Product (GDP) and account for almost half of the country's total exports. 'Digital transformation has become a vital enabler for MSMEs, helping them scale, stay resilient, and compete in an increasingly dynamic economy. From automating financial operations to leveraging digital channels for customer engagement, technology is no longer a choice; it's a necessity for sustained growth,' Singh added. This shift is particularly empowering in smaller towns and emerging regions, where businesses are now able to overcome the limitations of manual processes and limited market access. Going digital allows MSMEs to operate with agility, tap into data for better decision-making, and integrate more easily with formal financial and regulatory systems. Pressure points However, despite being engines of innovation and employment, MSMEs continue to face several fundamental challenges, including limited access to formal financing and digital infrastructure, as well as a lack of exposure beyond their immediate markets, particularly in non-metro and remote regions. Many still operate in silos, making it difficult to scale or gain visibility outside their local ecosystems. However, change is coming, and MSMEs are seeking new means to scale. A shift is being witnessed where an increasing number of businesses are building resilience, taking small but significant steps toward digital adoption, seeking visibility, and exploring new ways to grow. There has also been a rise in women-led enterprises and businesses emerging from Tier 2 and Tier 3 cities, pointing to a more inclusive and representative growth story. Key drivers of change There are three main levers powering growth for MSMEs and driving change – the government, corporates and technology providers. Each of these stakeholders brings something unique to the table, from the right policies to access, innovation, or visibility. Governments can make a deeper impact by tuning into real stories and ground realities to create targeted and effective policies. 'Udyam Registration is a gateway for all MSME schemes of the government. One of the biggest issues seen with MSMEs is that of cash flows and delayed payments. Towards this, the ministry introduced a Delayed Payments Act for MSMEs where any vendor who delays payments is liable to pay three times the bank interest as a penalty. Further, buyers cannot delay payments beyond 45 days, as stipulated by the government,' said Praful Umare, Assistant Director, Ministry of MSME, Government of India, at the Mumbai event. Furthermore, corporates can enable market access, offer mentorship, and create opportunities for collaboration, especially for MSMEs in underserved geographies. Strategic alliances with financial institutions can also help extend credit access to where it's needed most. Technology providers can play a pivotal role in simplifying tools, improving affordability and enabling digital adoption through education and localised support. Beyond access, inclusivity is essential, supporting women-led businesses, sustainability-focused enterprises, and first-time entrepreneurs is critical to building a more balanced ecosystem aligned with MSMEs. Spotlighting success stories Initiatives like Tally MSME Honours are a step in the right direction as they aim to spotlight success stories, not just to celebrate them, but to surface inspiration, build community, and encourage others to take that next step forward. 'We saw incredible stories in categories like Wonder Woman and NewGen Icon, where MSMEs were not just creating jobs but championing inclusive, purpose-led entrepreneurship. Equally inspiring were the Champions of Cause, businesses that are placing social impact and sustainability at the heart of their growth. Their stories reinforce our belief at Tally: that real change often starts small, but when supported, can ripple across economies and communities,' she further added. Beyond the recognition The Tally MSME Honours platform goes beyond just recognition. Winners from each edition are engaged throughout the year across multiple platforms. They are invited to participate in knowledge-sharing sessions, panel discussions, ecosystem events, and networking forums curated by Tally. Many also get the opportunity to represent their regions and sectors on larger platforms, helping amplify their voice and inspire others. 'Our intent is to foster a thriving community of entrepreneurs who can learn from one another, share their expertise, and continue growing together. Our larger goal is to build a connected ecosystem where small businesses don't just get recognised but are empowered to thrive,' Singh concluded.
Hindustan Times
4 days ago
- Business
- Hindustan Times
Tally MSME Honours 2025: Stories of resilience, innovation, and purpose
A silent force is at work in the story of India's growth into an economic superpower. It is reshaping markets and redefining success. It is a movement not born in boardrooms but in workshops, kitchens, and start-ups operating across the length and breadth of the country. It is the story of India's Micro, Small, and Medium Enterprises (MSMEs), and it is nothing short of a revolution. Celebrating the dreamers, doers, and disruptors — MSME champions from across India who are proving that big impact often starts with one bold idea. Figure this: In Kolkata, Raghav Agarwal of Umay Benaras is weaving heritage Bararasi traditions into high-street global luxury fashion. By blending age-old weaving traditions with modern design sensibilities, he has created a brand that not only commands a premium but also restores dignity for local artisans who are its heart. In Darbhanga, Shravan Kumar Roy turned a humble superfood 'makhana' into a gourmet snack brand by fusing his food-tech expertise with regional pride. His focus on value addition and smart packaging created new markets for a traditional product, making it aspirational and accessible. Gaurang Agashe's journey with Unbox Your Desire is one of bold reinvention. Starting with food delivery, he has now pivoted into a tech-first platform for pharma logistics and home services, proving that a single, purpose-driven idea can be the foundation for an entire ecosystem of solutions for real-world needs. In Burdwan, Nandini Bhattacharyya of APN Industries defied deep-seated social biases in the manufacturing sector to build a successful electrical components business. Her story is a powerful reminder that quality and persistence can overcome any prejudice. In Gurugram, Utkarsh Khandelwal's Infloso AI is not just building a business – it is defining the future of marketing. His AI-powered marketer, Molly, is already working with global giants and government bodies, showing that an Indian MSME can be a global leader in the most cutting-edge of fields. With 1.5M+ users, 11,000+ brands on the waitlist, and successful pilots with global giants like Lowe's USA, Suzuki, Panasonic, Zepto, and government bodies in Japan and India, Infloso is scaling rapidly across five countries. These are some of the stories that the fifth edition of Tally MSME Honours, held across 7 cities in early July, brought to light. Each of the 20,000+ entries was a powerful story of transformation, rooted in resilience, innovation, and purpose. They show that across India, MSMEs are not just surviving. They are innovating and proving that our country's economic future is not being built just by a few corporate giants, but the hard work of millions of small businesses who are dreaming big. From Tech Transformers, who are reimagining operations through digital tools, to inspiring participation from Tier 2 towns like Karad, Sivakasi, and Bhilwara, the scale and depth of transformation were noteworthy. 'One of the most striking trends from this year's Tally MSME Honours 2025 was the digital transformation led by legacy businesses, many of them run by seasoned entrepreneurs in their 60s - 70s. Particularly within the Tech Transformer category, it was inspiring to see these long-established business leaders embracing technology not as a disruption, but as an essential step to stay relevant and future-ready,' said Jayati Singh, Chief Marketing Officer & Interim India Business Head at Tally Solutions Pvt Ltd. Using digital as an enabler MSME's today contribute to about 30 per cent of our Gross Domestic Product (GDP) and account for almost half of the country's total exports. 'Digital transformation has become a vital enabler for MSMEs, helping them scale, stay resilient, and compete in an increasingly dynamic economy. From automating financial operations to leveraging digital channels for customer engagement, technology is no longer a choice; it's a necessity for sustained growth,' Singh added. This shift is particularly empowering in smaller towns and emerging regions, where businesses are now able to overcome the limitations of manual processes and limited market access. Going digital allows MSMEs to operate with agility, tap into data for better decision-making, and integrate more easily with formal financial and regulatory systems. Pressure points However, despite being engines of innovation and employment, MSMEs continue to face several fundamental challenges, including limited access to formal financing and digital infrastructure, as well as a lack of exposure beyond their immediate markets, particularly in non-metro and remote regions. Many still operate in silos, making it difficult to scale or gain visibility outside their local ecosystems. However, change is coming, and MSMEs are seeking new means to scale. A shift is being witnessed where an increasing number of businesses are building resilience, taking small but significant steps toward digital adoption, seeking visibility, and exploring new ways to grow. There has also been a rise in women-led enterprises and businesses emerging from Tier 2 and Tier 3 cities, pointing to a more inclusive and representative growth story. Key drivers of change There are three main levers powering growth for MSMEs and driving change – the government, corporates and technology providers. Each of these stakeholders brings something unique to the table, from the right policies to access, innovation, or visibility. Governments can make a deeper impact by tuning into real stories and ground realities to create targeted and effective policies. 'Udyam Registration is a gateway for all MSME schemes of the government. One of the biggest issues seen with MSMEs is that of cash flows and delayed payments. Towards this, the ministry introduced a Delayed Payments Act for MSMEs where any vendor who delays payments is liable to pay three times the bank interest as a penalty. Further, buyers cannot delay payments beyond 45 days, as stipulated by the government,' said Praful Umare, Assistant Director, Ministry of MSME, Government of India, at the Mumbai event. Furthermore, corporates can enable market access, offer mentorship, and create opportunities for collaboration, especially for MSMEs in underserved geographies. Strategic alliances with financial institutions can also help extend credit access to where it's needed most. Technology providers can play a pivotal role in simplifying tools, improving affordability and enabling digital adoption through education and localised support. Beyond access, inclusivity is essential, supporting women-led businesses, sustainability-focused enterprises, and first-time entrepreneurs is critical to building a more balanced ecosystem aligned with MSMEs. Spotlighting success stories Initiatives like Tally MSME Honours are a step in the right direction as they aim to spotlight success stories, not just to celebrate them, but to surface inspiration, build community, and encourage others to take that next step forward. 'We saw incredible stories in categories like Wonder Woman and NewGen Icon, where MSMEs were not just creating jobs but championing inclusive, purpose-led entrepreneurship. Equally inspiring were the Champions of Cause, businesses that are placing social impact and sustainability at the heart of their growth. Their stories reinforce our belief at Tally: that real change often starts small, but when supported, can ripple across economies and communities,' she further added. Beyond the recognition The Tally MSME Honours platform goes beyond just recognition. Winners from each edition are engaged throughout the year across multiple platforms. They are invited to participate in knowledge-sharing sessions, panel discussions, ecosystem events, and networking forums curated by Tally. Many also get the opportunity to represent their regions and sectors on larger platforms, helping amplify their voice and inspire others. 'Our intent is to foster a thriving community of entrepreneurs who can learn from one another, share their expertise, and continue growing together. Our larger goal is to build a connected ecosystem where small businesses don't just get recognised but are empowered to thrive,' Singh concluded.
Mint
29-06-2025
- Business
- Mint
Centre court to Oval: Cricket and tennis to drive demand for high-end sport tourism this month
As summer travel heats up, a growing segment of affluent Indian travellers is steering away from conventional vacations in favour of high-end sports tourism, with events like Wimbledon and the India-England Test match at The Oval drawing interest. With package costs starting from ₹2 lakh per day and reaching beyond ₹10-15 lakh per person for multi-day experiences, this form of travel remains niche but aspirational—and demand is rising. Companies such as Bharat Army, Indulge Global and DreamSetGo are witnessing steady bookings from high-net-worth individuals (HNIs), entrepreneurs and even millennial families for curated experiences abroad. These range from Centre Court seats at Wimbledon to dinners with sports stars, combining travel with exclusive sports access. For example, Raghav Agarwal, an entrepreneur from Kolkata, is spending £245 a day, or about ₹28,000, on tickets for The Oval through Bharat Army and combining his 14-day trip with a visit to Wimbledon. 'Late June and early July is also the sweet spot for sports fans like me visiting the UK, as a lot of the holiday makers are returning home. We've lined up Day 2 at Wimbledon and Days 1 and 2 at Lord's. It's the ideal mix of tennis and cricket," he said. Karan Bhangay, founder of Indulge Global, noted growing inquiries for future global events. 'We see that a lot of our sports tourism clients are high networth individuals (HNIs), and a handful are also serious fans who save up for such experiences. Some are ultra-networth individuals (UHNIs) too, but mainly it is the HNIs who have started to live better, travel well and are in touch with global trends thanks to Instagram and other platforms." Appeal widens Rakesh Patel, founder of Bharat Army, said many Indian travellers now prefer sports tourism that doubles as a family vacation. 'We're seeing that Indian travellers don't just want to go to locations just to watch these sports but also to explore locations where they can do holidaying along with their travel," he said. Bharat Army has already sold 12,000 travel packages for the ongoing England tour, catering not just to India-based travellers but to the global Indian diaspora. Although largely HNI-driven, sports tourism is no longer limited to just the ultra-wealthy. Millennials and Gen Z travellers, often from metros and emerging cities such as Pune, Mohali and Raipur, are seeking experiential and curated packages. Travel companies such as Thomas Cook and SOTC report a mix of interest from both families and corporate clients. 'We have successfully managed corporate bookings for race viewings at the premium Turn 1 grandstand at Abu Dhabi and Monza this year. Additionally, within our leisure business, due to the demand, we have introduced trips specially for the upcoming India-England Test match and Wimbledon," said Rajeev Kale, president and country head, holidays, meetings and visas, at Thomas Cook. 'With the release of the 2025-2026 global football fixtures as well, we're witnessing early interest for high-demand matches—with more momentum expected to build in the coming months." The India-England Test Series will be about ₹1.8-2.5 lakh per person (for 6-7 nights), according to Thomas Cook and Wimbledon will set you back ₹2.5-3.5 lakh per person (for 4-5 nights in London). For the 2025-26 Fifa football fixtures in the US, costs will be about ₹3-4 lakh per person (for 6-7 nights, mostly on the east coast). The costs for the events are on a twin-sharing basis, or two people per room, and do not include airfares. DreamSetGo, owned by Dream Sports, took around 1,500 Indians to the Champions Trophy in Dubai earlier this year, with 600 flying in just for the India-Pakistan match. The company expects demand for Wimbledon to triple this season, according to chief executive officer Monish Shah. 'The price value of these (events) is quite high, and that would require premium corporate movements like wealth managers taking their top clients for these events," he said. Love for sports Around 40% of DreamSetGo's business for events like Wimbledon comes from corporates, while the rest comes from individuals or families. Most of their travellers are HNIs. A majority—60%—still only want tickets for these events, which are priced upwards of several thousand to a lakh. They don't always want the whole package, which can then go into several lakhs per person. For instance, a one-day ticket for The Kia Oval Test match costs ₹2.3 lakh per person, excluding flights and accommodation. A four-day match experience could easily reach ₹10-15 lakh per person for Indian travellers. India's sports tourism market is still in its infancy but poised for rapid growth. A 2024 KPMG report valued the sector at $10.87 billion and projected a compound annual growth rate (CAGR) of 18%, nearly double that of general leisure travel. Even niche sports like Formula 1 are gaining traction. A three-day race pass for Abu Dhabi F1 in December costs ₹3.5 lakh via DreamSetGo. Attending live sporting events has become a bucket list goal, said S.D. Nandakumar, president and country head, holidays and corporate tours, SOTC. 'This was once quite niche, but it now has a broader appeal to extend to families and young millennials and Gen Z travellers, particularly from cities like Bengaluru, Mumbai, Pune, Surat and Ahmedabad. Event-based tourism is expanding."
