Axis Bank hosts 10th Edition of Evolve in Indore, empowering MSMEs to drive India’s $10 Trillion Economy Vision

•    Evolve, Axis Bank’s flagship knowledge-sharing series for MSMEs, empowers entrepreneurs with the knowledge, networks, and growth tools required to scale their businesses.
•    This mission resonates strongly in Madhya Pradesh, a state that is home to over 44 lakh registered MSMEs, which contribute roughly one-third of its GSDP and employ ~85 lakh people.
•    Indore, the commercial capital, drives robust Tier-2 MSME growth in pharmaceuticals, food processing, engineering, textiles, and trade, powering inclusive economic expansion.

Indore, 12 December 2025: Axis Bank, one of the largest private sector banks in India, hosted the 10th edition of Evolve, its multi-city knowledge series for MSMEs in Indore, Madhya Pradesh. The event brought together entrepreneurs, industry leaders, and policy experts to discuss opportunities and challenges shaping India’s MSME landscape, under the theme “MSMEs Powering the $10 Trillion Economy”.

With over 120MSME promoters and founders in attendance, the session served as a platform to discuss growth pathways and challenges defining India’s next phase of growth—from a $4.1 trillion economy today to $10 trillion by 2032. The event featured a presentation on the ecosystem and Axis Bank’s focus on MSMEs by Mr. Vijay Shetty, President & Head - Commercial Banking Group, Axis Bank; and Prashanth T.S., President & Head - Mid-Corporates & Medium Enterprises Group, Axis Bank.This was followed by a panel discussion featuring Mr. Anand Bangur, Founder and Chairman of Shriji Polymers; Mr. Gaurav Anand, Chairman of Anand Jewellers; and Mr. Jiten Shadija, Director of Shiv Offset India Pvt Ltd, who shared their insights on growth trends and emerging opportunities in the sector. 

Through Evolve, Axis Bank provides practical insights and actionable strategies to help MSMEs enhance operational efficiency, embrace technology, and expand their market presence. The initiative goes beyond conventional banking, equipping entrepreneurs with the knowledge and tools to navigate disruptions and scale sustainably. The launch of Digital Evolve further strengthens this commitment by extending expert guidance to MSMEs through a dedicated digital platform. 
“At Axis Bank, we believe MSMEs will drive India’s next wave of growth. Our focus is on strengthening this sector through tailored financial solutions, knowledge-sharing, and technology support. With over 44 lakh registered MSMEs, Madhya Pradesh remains a priority market, offering sustainedopportunities in manufacturing and trade. Through Evolve, we aim to collaborate with business leaders across the region to unlock growth opportunities and collectively power India’s $10 trillion economy ambition,” said Mr. Vijay Shetty, President & Head - Commercial Banking Group, Axis Bank.

As the commercial hub of Madhya Pradesh, with strong industrial clusters in pharma, food processing, and engineering, Indore remains a high-potential market supported by lower credit penetration. Manufacturing and trade-related businesses together account for nearly 70% of MSME credit requirements in the region, presenting a significant opportunity to deepen financial access. 

Over the past decade, Evolve has connected with over 10,000 entrepreneurs across 50+ cities, providing them with practical strategies to embrace technology, improve operational efficiency, and scale their businesses sustainably. By fostering knowledge-sharing and facilitating connections with industry leaders, the program continues to support MSMEs to navigate changing market dynamics and seize new growth opportunities.
About Axis Bank

Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. It has 5,976 domestic branches (including extension counters) and 13,177 ATMs and cash recyclers spread across the country as on 30th September 2025. The Bank’s Axis Virtual Centre is present across eight centres with over ~1,786 Virtual Relationship Managers as on 30th September 2025. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.

For further information on Axis Bank, please refer to the website: https://www.axis.bank.in/

For media inquiries on Axis Bank, please contact:

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Navneet1.Bhamrah@axisbank.com
   

Himanshu Seth
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