Dear Members,

My Pranams and Greetings to each one of you!

I am delighted to present this June edition of Utkarsha, dedicated to a sector that is, without question, the bedrock of India’s economy - the Micro, Small and Medium Enterprises.

World MSME Day

June 27 is observed as World MSME Day, and the theme for 2026 “The Future Generation of MSMEs”  is an apt reminder of the imperative before us: nurturing human-centred entrepreneurship and innovation in an increasingly AI-driven economy.

The MSME Sector in Numbers

The numbers speak with authority. According to the Economic Survey 2025-26, MSMEs contribute 31.1% to India’s GDP, 35.4% of total manufacturing output, and nearly 48% of exports, while employing over 32 crore people across 7.47 crore registered enterprises, making them the second-largest employer in the country after agriculture.

As of February 2026, 7.86 crore MSMEs with a combined employment of 34.63 crore are registered on the Udyam Registration Portal and Udyam Assist Platform.

These enterprises are not peripheral to India’s growth story. They are the growth story.

The central government has introduced schemes to support the MSME sector spanning credit access, technology upgradation, cluster development, dispute resolution and entrepreneurship promotion. A curated summary of these schemes is carried elsewhere in this edition as a ready reference for members. We encourage you to familiarise yourself with this ecosystem, for every scheme represents an advisory opportunity, and every MSME client whose life we can meaningfully impact.

The success of MSMEs depends on the ecosystem of knowledge, compliance and advisory that surrounds them,  and that is precisely where our profession steps in. The Chartered Accountants are  indispensable partners in the growth story of India’s MSMEs.

The CA and the MSME Mandate

The Union Budget 2026-27 has placed an explicit mandate on our profession. The Finance Minister announced that ICAI, ICSI and ICMAI will design short-term modular courses to train a cadre of ‘Corporate Mitras’ accredited professionals, particularly in Tier-II and Tier-III towns to support MSMEs in navigating compliance, credit and governance at affordable cost.

This is an opportunity for women and young CAs to make an impact and penetrate India’s rural entrepreneurial landscape.

The Bengaluru Branch, through its series of professional development programmes, remains committed to equipping our members with the knowledge, tools and networks to serve the MSME sector with depth and distinction.

Yoga Day

While June celebrates enterprise and entrepreneurship through World MSME Day, it also reminds us of the importance of personal well-being through International Yoga Day.

June 21 marks the 12th International Day of Yoga, observed this year under the theme “Yoga for Healthy Aging”

The Bhagavad Gita’s timeless verse - योगः कर्मसु कौशलम् I ‘Yoga is excellence (skill) in action’.

This reminds us that Yoga, at its deepest, is not merely a physical discipline. It is the quality of complete, mindful engagement with what one does, excellence pursued with intention.

For us as Chartered Accountants, this resonates profoundly. Our Kaushalya, our skill, is what sets us apart. When we assist a client in compliance, plan its succession or navigate a complex situation for it, we are not performing a transaction. We are practising a craft. We are, in the truest sense, bringing yoga to our work: excellence in service of another’s growth.

Branch Activities in May 2026

May was a month of rich professional engagement at the Bengaluru Branch. From an intensive study of the new Income Tax Act 2025 across two seminar series, to a path-breaking FCRA deep-dive, GST and Income Tax Moot Courts, UAE Taxation and a Co-operative Societies seminar and one day seminar on FEMA our members stayed ahead of the curve.

We were also privileged to host the Income Tax Department’s Prarambh 2025 outreach programme on the new Income Tax Act.

Notably, on May 26, the Branch organised a Faculty Development Programme for faculty of Orientation Course, MCS and ITT,  training 81 around 90 faculty members on effective teaching for the Gen-Z cohort: a generation shaped by internet access, abundant information and shorter attention spans. How we teach is as important as what we teach, and this programme was a timely and important step in that direction.

It was not just a month of learning, May was playful too. The Bengaluru Branch along with Karnataka State Chartered Accountants Association (KSCAA) organised Pickleball and Box Cricket competition. It was an enthusiastic event and heartening to see our members coming together in true sportsmanship. Thanks to KSCAA for joining hands in not just making this event but also in making this event a grand success.

We also witnessed around 700 CAs get convocated on 23^rd May. The convocation ceremony was held in Bengaluru for the newly qualified members under aegis of the Members & Students Services Directorate of the Head Office.

A detailed list of May events is carried in this edition. I invite you to look ahead at the June calendar, a full slate of programmes awaits, and I encourage each of you to participate actively.

As I conclude, I want to gently remind each one of you, we work hard for our clients’ financial health, we work hard for this nation’s economic health. But who is working for ours? Let us resolve to take care of our own health. Take time to roll out that mat, make time for that walk. Breathe deeply, and rest amply. Remember, you cannot pour from an empty vessel.

Wishing each of you professional fulfilment, personal joy, and above all, good health!

Stay Healthy, Stay Fit!

Yours,

CA Kavitha Paramesh
Chairperson
ICAI Bengaluru Branch (SIRC)