Meet the winners of the ET MSME Awards 2025

On the evening of March 24, 2026, in New Delhi, one of India's most respected business honour rolls got a little longer and a great deal more global.

The grand felicitation ceremony of the ET MSME Awards 2025 brought together entrepreneurs, industry leaders, policymakers, and for the first time in the award's history, delegates from foreign trade councils, including KOSME (Korea SMEs & Startups Agency), Austrade (the Australian Trade and Investment Commission), and the Embassy of Denmark in India. Their presence signalled that India's micro, small, and medium enterprises (MSMEs) are now participants in global conversations. As international trade bodies look to deepen engagements with India, the ET MSME Awards offered a room full of proven operators, scalable businesses, and decision-makers eager to build.

The evening was anchored by high-calibre panel discussions featuring thought leaders from manufacturing, services, exports, digital infrastructure, and sustainability. Conversations ranged from access to credit and global market entry to innovation ecosystems and the role of policy in enabling the next generation of MSME champions. These were substantive, debate-driven exchanges that reflected the ambition and urgency of the sector itself.


And of course, there were the awards.

The ET MSME Awards is among the most rigorous business recognition platforms in India. Businesses are assessed on financial performance, operational depth, innovation quotient, scalability, and demonstrated impact within their respective sectors. Here, winning is not a function of size or seniority, but a function of excellence.

On that note, here’s a full list of this edition’s winners, and the rationale for them coming out on top:

1. Automobile & OEM MSME of the Year
Precision engineering in the auto sector demands near-zero error margins. Evaluation criteria for this category included technical capability, supply chain reliability, and contribution to the domestic automotive value chain. The jury found an operation that doesn't just meet OEM standards, but helps set them.

Winner: Miba Drivetec India Pvt Ltd

2. Pharmaceutical & Healthcare MSME of the Year
In a sector where quality is a baseline requirement, consistent compliance and formulation excellence becomes a competitive advantage. For the jury, one company represented what pharmaceutical MSMEs in India are fully capable of becoming.

Winner: Maithri Drugs Private Limited

3. Electrical & Electronics MSME of the Year
The electrical and electronics sector is one of the most cut-throat in Indian manufacturing, characterised by rapid technology cycles, demanding specifications, and intense price pressures. The Awards jury recognised one company as a clear leader in a field that has no room for error.

Winner: Hi-Tech Radiators Pvt Ltd

4. Clothing & Apparel MSME of the Year
MSMEs competing within global apparel supply chains must meet international standards on quality, turnaround, and compliance. One company made the case, stitch by stitch, for India's place in world-class apparel manufacturing.

Winner: Ken Enterprises Limited

5. Listed SME of the Year
Listing on the public markets invites a level of scrutiny most businesses choose to avoid. The ET MSME Awards jury evaluated nominees not merely on their listing milestones, but on how they have performed since. And the verdict was emphatic.

Winner: Sika Interplant Systems Limited

6. Women Entrepreneurs of the Year
Across three size categories (micro, small, and medium), the ET MSME Awards recognised women entrepreneurs who built businesses in sectors where barriers to entry, access, and credibility are stubbornly high. These are awards for achievement, not aspiration.

• Winner of Women Entrepreneur of the Year (Micro): Aangan of Kutch
• Winner of Women Entrepreneur of the Year (Small): AITMC Ventures Limited
• Winner of Women Entrepreneur of the Year (Medium): Swati Spentose Pvt Ltd

7. India's Fastest-Growing MSMEs
Growth is easy to claim but difficult to validate. The jury applied rigorous scrutiny to submissions across the micro, small, and medium categories here, looking for businesses that demonstrated the operational foundations to sustain top-line momentum.

• Winner of Fastest-Growing MSME (Micro): digiCloud Solutions Private Limited
• Winner of Fastest-Growing MSME (Small): IMECO Overseas Private Limited
• Winner of Fastest-Growing MSME (Medium): Velvin Packaging Solutions Private Ltd

8. Indian MSMEs of the Year
This one represented the ET MSME Awards' highest recognition across the three fundamental modes of business operation. The winners are companies that the jury determined to be the finest examples of their kind in India today.

• Winner of Indian MSME of the Year (Manufacturing): West Bengal Chemical Industries Ltd
• Winner of Indian MSME of the Year (Service): WeVOIS Labs Pvt Ltd
• Winner of Indian MSME of the Year (Manufacturing): AGS Foods India Pvt Ltd

9. Top Exporter of the Year
India's export potential is sometimes debated at the policy level. But three enterprises demonstrated businesses that carry Indian quality, precision, and innovation to buyers worldwide.

• Winner of Top Exporter of the Year (Manufacturing): Freshara Agro Exports Limited
• Winner of Top Exporter of the Year (Service): Hidden Brains Infotech Pvt Ltd
• Winner of Top Exporter of the Year (Trade): Quality Biz Chem India Private Limited

10. India's Top Innovative MSMEs
Innovation at the MSME level can be brutal. Resources are constrained, risk tolerance is tested more acutely, and the distance between an idea and its commercial viability must be crossed quickly. Three companies represented the best of what Indian MSMEs are doing at the frontier of their respective fields.

• Winner of Top Innovative MSME (Micro): NICO Nanobubble India Co
• Winner of Top Innovative MSME (Small): Lifeline Medical Devices Private Limited
• Winner of Top Innovative MSME (Medium): Attero Recycling Pvt Ltd

A milestone evening for Indian enterprise
Twenty categories, 20 winners. And behind each one, a story of discipline, risk, innovation, and the kind of quiet ambition that consistently builds the foundations of an economy.

The ET MSME Awards 2025 felicitation ceremony was a statement about where Indian MSMEs are headed. The presence of international trade bodies underscored a reality that global markets are increasingly acknowledging: that India’s enterprises aren’t merely a support act for the larger economy, but the main event.

As the evening concluded, the conversations that had begun in panel discussions continued in corridors between founders and trade officials, creditors and innovators, and between companies that export Indian excellence and the markets that receive it. That, perhaps, is the truest measure of what the ET MSME Awards has built: not just a business awards platform, but a gathering point for the people and businesses shaping the next chapter of Indian enterprise.

The ET MSME Awards had IDBI Bank as the Banking and Lending Partner, The New India Assurance Co. Ltd. as the General (Non-Life) Insurance Partner, and CareEdge Ratings as the Evaluation Partner.