As the nation marches on towards the status of developed nation (‘Viksit Bharat’), a few developments should, rather must, happen. These include improvement in the ease of doing business, formalization of MSMEs and transformation of outsourcing from a transactional relationship to backward integration. All these issues are interlinked.

MSMEs form a very large part of the Indian economy, and their wellbeing is essential for the health of the economy. Improvement in ease of doing business will significantly benefit MSMEs as it will make them more efficient. The relationship between MSMEs and their more powerful clients is one-sided. However, if the large corporates invest in growth and development of their vendors/service providers, it will result in a win-win relationship. While this is recognized in all business excellence models such as Malcom Baldrige, TQM and ISO:9001, it is not easy to find corporates that implement this philosophy in spirit.

Outsourcing I