Finance Minister Nirmala Sitharaman calls for industry-government collaboration to prepare youth for digital opportunities
The Indian Foundation for Quality Management (IFQM) hosted its second annual symposium in New Delhi, focusing on the theme “Quality & Innovation to Make India Globally Competitive”. The event brought together government leaders, global experts, industry captains, and academia to deliberate on strategies for transforming India’s MSME ecosystem and positioning the country as a dependable player in global value chains.
Honorable Finance and Corporate Affairs Minister, Nirmala Sitharaman, urged the industry to partner with the government to bridge HR gaps and prepare young talent for emerging digital opportunities. She emphasized, “If the government has been moving towards the direction that industry wanted, there should be no more hesitation to invest, expand the capacity, and produce more.” The Finance Minister applauded IFQM’s efforts in creating an ecosystem that nurtures future-ready talent while enhancing India’s global competitiveness.
Industry leaders and IFQM experts highlighted the need for integrating quality and innovation to drive excellence in manufacturing, productivity, and value creation. Key discussions included digital readiness, skill development, sustainable growth, and resilience in the BANI (Brittle, Anxious, Non-linear, & Incomprehensible) business environment. Leaders such as Mr. Soumitra Bhattacharya (IFQM), Mr. Vivek Chaand Sehgal (Motherson Group), Mr. Dilip Shanghvi (Sun Pharma), and Dr. Hans-Joachim Neumann (Merck Electronics) shared insights on fostering purpose-driven leadership, adaptability, and robust systems for MSMEs.
IFQM showcased initiatives aimed at transforming MSMEs, including 60+ experiential learning solutions, digital tools for productivity and skill enhancement, and industry-academia collaborations to develop a ready workforce. The organization has already operationalized three MSME clusters, with plans to scale to 100 companies by FY 2026. Support from 10 large companies is enabling MSMEs to adopt standards like Daily Work Management (DWM), Digital Drawing to Manufacturing (DDM), and Supply Chain Management (SCM).
The symposium also emphasized India’s strategic role in the global supply chain, with contributions from leaders including Mr. TV Narendran (Tata Steel), Mr. Salil Gupte (Boeing India), and Mr. R Mukundan (Tata Chemicals). Discussions focused on quality systems, policy frameworks, digital infrastructure, and customer-centricity as key drivers for manufacturing excellence and global competitiveness.
IFQM, established in 2023, is dedicated to institutionalizing a culture of quality across Indian industries, fostering continuous improvement in products and services, and elevating Brand India on the global stage. The organization plans to inaugurate the IFQM Academy near Bangalore airport in FY 2026–27, furthering its commitment to innovation, excellence, and transformation.
With its comprehensive initiatives, IFQM continues to act as a catalyst for MSME growth, global competitiveness, and sustainable industrial transformation, aligning with India’s vision of becoming a developed nation by 2047.
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