ET Business Growth Summit-Ahmedabad highlights tech and innovation as next growth drivers

The ET Business Growth Summit in Ahmedabad on July 31, the first event of the 18-city national series this edition, saw strong participation from industry, underscoring the resilience of businesses in the region.

The summit opened with an address by Rajesh Barhatt, Joint Commissioner, Industries, Gujarat, who outlined the state’s evolving industrial ecosystem and key policy initiatives aimed at accelerating manufacturing and enterprise growth. “Gujarat ranks second in terms of medium enterprises. This reflects the state’s strong ability to help micro and small enterprises scale up and transition into medium-sized businesses,” said Barhatt.

“Gujarat accounts for one third of what India produces and 18% of its (the country’s) industrial output. This shows the industrial strength of the state,” added Barhatt.


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This was followed by an insightful fireside chat with Kumar Neel Lohit, ED,IDBI Bank, on the topic “Powering Gujarat's Next Wave of MSME Growth: Capital, Competitiveness & Confidence”

The next was an exciting panel discussion on the topic “How Ahmedabad’s MSMEs can lead India’s global ambitions.”

“Gujarat is a global chemicals hub, accounting for more than 50% of India’s chemicals and petrochemicals production and around 40% of the country’s dyes and chemicals exports. There is still a big potential to grow further and be competitive globally,” said Jaimin Vasa, President, Gujarat Chemical Association.

“MSMEs are still lagging in technology adoption, even though technology should be a key priority for businesses looking to scale and expand beyond geographical boundaries,” said Darshana Thakkar, National President, Entrepreneurship Development Council, Women's Indian Chamber of Commerce and Industry (WICCI).

Sachin Patel, MD of Sachin Industries, said, “Gujarat has extensive infrastructure, reliable power, and established sectors such as chemicals, pharmaceuticals, engineering, ceramics, and renewable energy. The next step is greater investment in automation, robotics, AI, and R&D.”

“Gujarat’s growth story extends beyond small and medium enterprises (SMEs) and large industries, with the state also emerging as a strong start-up ecosystem. Several initiatives are supporting start-ups and fostering entrepreneurship,” said Brinda Pandya, Head, Incubation Center, Karnavati University.

This was followed by an exclusive fireside chat with Abhijit Roy, Regional Manager, Ahmedabad RO, The New India Assurance Co. Ltd, on the topic “Building Resilient Businesses: The Strategic Role of Insurance in India's SME Growth Story.”

The next was a business success story with Rajesh Gandhi, President, Gujarat Chamber of Commerce & Industry (GCCI) and Director, Vadilal Industries Limited. “Pressure from investors or quarterly targets should never be an excuse to compromise on product quality. If you have to make a choice, adjust the quantity, not the quality. That’s how you build long-term trust with consumers,” said Gandhi.

“There is no magic shortcut to building a brand. It takes hard work, commitment, patience, and persistence. That’s what has helped me come this far,” added Gandhi.

It followed another success story with Haresh Karamchandani, MD and Group CEO, HyFun Foods. “Convincing my family about starting this business was challenging. I asked them: If our firm can sell 50-100 truckloads of potatoes every day, why can’t we sell one truckload of French fries? That helped make the case for entering the business,” said Karamchandani.

“While finalising equipment with a Netherlands-based supplier, I learnt that the company had gone bankrupt and we lost our initial down payment. But our conviction in the business remained strong, and we decided to go ahead,” said Karamchandani.

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The summit concluded on a strong note, highlighting how the region’s industries can leverage their core strengths and collaborate more effectively to drive collective growth. The event was sponsored by IDBI Bankas the Banking & Lending Partner and The New India Assurance Co. Ltd as the General (Non-Life) Insurance Partner. The focus now shifts to the ET Business Growth Summit Noida to be held on August 7, 2026.