The ongoing crisis in West Asia is no longer a distant geopolitical issue discussed only on news channels. Its impact is slowly reaching factories, warehouses, transport operators and small businesses across India. For many MSMEs, the effects are already visible. Input costs are rising. Freight charges are fluctuating. Delivery timelines have become uncertain. In some sectors, sudden price spikes are increasing pressure on already thin margins.

While large companies may have the balance sheet strength to absorb temporary shocks, MSMEs often operate with limited financial buffers. Even a small increase in raw material costs or a delay in receivables can disrupt working capital cycles significantly. In this backdrop, the Government of India’s emergency credit support initiative comes at an important time. The move is expected to provide immediate liquidity relief to eligible borrowers and help businesses manage short-term disruptions.

The Real Problem Is Liquidity.

Many entrepreneurs assume business stress begins when profits decline. In reality, the first warning sign is usually cash flow pressure. A business may still be profitable on paper and yet struggle operationally because cash gets locked in inventory, receivables or rising input costs.

Consider what is happening currently across sectors:

• Imported raw materials have become costlier

• Logistics costs are fluctuating

• Commodity-linked industries are witnessing volatility

• Suppliers are tightening credit periods

• Customers are delaying payments to conserve cash

The result is simple. Businesses need more working capital to run the same operations. For MSMEs already operating with stretched limits, this creates immediate liquidity stress. 

Working capital is often misunderstood as just a finance term. In reality, it is the fuel that keeps a business moving every single day. During stable periods, businesses can plan cash flows with reasonable accuracy. But during external shocks, uncertainty increases across the supply chain. For example, a shipment delay may increase inventory holding costs, a sudden rise in fuel prices may impact transportation margins and customers facing stress may delay payments by another 30 days. Individually, these may appear manageable. Collectively, they can create a serious strain on MSMEs. This is exactly where timely credit support becomes important.

A Welcome Move by the Government

The emergency credit support scheme announced by the Government of India aims to address this short-term liquidity challenge. Many MSMEs have already started receiving communication from their banks regarding additional credit eligibility under the scheme. Reports indicate that eligible borrowers may avail additional working capital support of up to 20% of their peak working capital limits, subject to applicable norms and conditions.

The broader intent behind the move is important.

The government is acknowledging that external geopolitical developments can create temporary stress for businesses that are otherwise operationally healthy. Instead of waiting for stress to become a crisis, liquidity support can help businesses navigate the disruption early.

This is particularly relevant for MSMEs because they contribute significantly to employment, manufacturing output and economic activity in India.

Around 1.1 Crore MSMEs Could Benefit

One of the most notable aspects of the announcement is the potential scale of impact. Estimates suggest that around 1.1 crore MSME accounts could benefit from the additional credit support framework. That is significant.

For many businesses, access to timely liquidity during uncertain periods can make the difference between continuity and disruption.

More importantly, emergency support helps entrepreneurs avoid reactive decisions such as:

• Delaying salaries

• Cutting productive capacity

• Reducing inventory sharply

• Borrowing at very high informal interest rates

• Missing supplier commitments

When liquidity support reaches businesses quickly, it improves confidence across the ecosystem.

MSMEs Must Use This Opportunity Carefully

While additional credit support is helpful, businesses must also use this phase to strengthen financial discipline. Emergency liquidity should not become an excuse for weak cash flow management. Instead, MSMEs should use this period to review:

• Inventory cycles

• Customer credit policies

• Vendor negotiations

• Pricing structures

• Cash flow forecasting

• Working capital utilization

Many businesses track profitability monthly but do not monitor cash conversion cycles closely. During uncertain times, that becomes risky. Entrepreneurs must remember one important point. Growth problems and liquidity problems often look similar in the beginning. Both create cash pressure. But the solutions are very different.

A Reminder for Entrepreneurs

External crises are beyond the control of MSMEs. Geopolitical tensions, commodity volatility and global supply chain disruptions can emerge suddenly. But preparedness, financial discipline and timely access to liquidity can reduce the impact significantly.

This is why working capital management is not merely an accounting exercise. It is a survival capability for businesses. The current emergency credit support initiative is therefore more than just another banking announcement. It is a recognition that MSMEs need support during periods of uncertainty, especially when disruptions originate outside the domestic economy.

For entrepreneurs, this is also a reminder to build stronger financial systems, improve visibility on cash flows and remain prepared for volatility. Because in business, resilience is not built during stable times. It is tested during uncertain ones.

Link to press release:  https://www.pib.gov.in/PressReleasePage.aspx?PRID=2258114&reg=3&lang=1

I was glad to reconnect with Mr. Raghunathan Ramarao a few weeks ago at a Rotary meeting. Our previous interactions had been nearly a decade back, so it was good to sit down with him over dinner and have a discussion. In our conversation, what struck me the most was his genuineness and the sincerity to make a difference in the lives of the less privileged. 

Just like any normal person, he could have led a comfortable life. Having worked with top MNCs and large corporations, it would have been easy to continue on that path. Instead, he chose a different route. In 2012, he started Kalpavriksha Seva Trust and since then has transformed 750+ lives through free education, skill development and community empowerment.

What stood out even more was that it is not just him. His entire family is involved in service, making it a shared commitment rather than an individual effort.

Here are three takeaways that stayed with me from this interaction. 

1. Being Prepared

Within an hour of our interaction, he sent across all details about the trust, the work they are doing and relevant video links. This clearly showed that everything was already in place. The documents were ready. The narrative was clear. There was no hesitation in sharing.

This was a big lesson for me.

Quite often, we don’t know whom we are going to meet and when. But it always helps to be prepared with our credentials, stories and proof of work. At the same time, this did not feel like a random forward. I am assuming it was shared after his own quick assessment. It was not a spray and pray approach, but a well thought out and intentional follow-up. On a personal note, I made a mental note to adopt this method. The intention was always there on my part but what lacked was consistent execution and speed of response.

2. Compassion

In a larger social context, many of us are inclined towards charity, philanthropy, or even social service. Many stop at sympathy or empathy. Compassion goes further. But only a few take that one extra step. It is the point where feeling becomes a willingness to act, consistently and without expectation. It is not a question of resources but one of heart and mindset. This compassion is what truly stood out during the interaction. Moving from a successful corporate career to dedicating time and effort towards social impact is not an easy shift. It requires a deep sense of purpose.

What struck me even more was the clarity with which he spoke about the trust and its beneficiaries. There was quiet conviction and genuine concern for creating long-term impact. The work done through the trust reflects a sincere commitment towards people and communities. It is not transactional or event-driven. It is a sustained effort over years. Compassion, in this context, is not just a feeling. It is a consistent action.

One more aspect that stood out was how deeply service has become part of the family’s value system. It is not restricted to one individual taking initiative. The involvement of the entire family sends a strong message about shared purpose and collective responsibility. When service becomes a shared value within a family, the impact naturally becomes larger and more sustainable. It moves beyond isolated acts of goodness and evolves into a culture.

The impact created through the trust is therefore not limited to direct beneficiaries alone. When one life is transformed through education or skill development, it creates a ripple effect across families and communities.

In many ways, this is also how meaningful legacies are built. Not through words, but through values practiced consistently over time.

Closing Reflection

Leadership is not always about scale or visibility. Sometimes, it is about quiet consistency, preparedness and the intent to make a difference.

My interaction with Mr. Raghunathan Ramarao reinforced a simple thought. When professionalism meets compassion and when intent is backed by action, the impact can be both meaningful and lasting.

The Tamil Nadu state election results were announced yesterday. It created an earthquake of sorts and ushered in a new political era. Vijay, among the top film stars, decided to leave his career at its peak and serve the people through electoral politics. He started Tamilaga Vettri Kazhagam (TVK) as an alternative to Dravidian (DMK & AIADMK) and National Parties (BJP & INC)

I keenly follow politics both at the state and national level. Though I thought it was a welcome move I had doubts about his ability to convert votes into seats. This is because winning is just about a simple majority. The first across the post. Tamil Nadu politics is deeply rooted in caste and community equations. Added to this are the regional powerhouses within each party plus the money (cash for votes) deployed in the final stages of the election. To be honest, I thought TVK will lose its deposit in many constituencies. Well, the people's mandate has proved everyone wrong. And I stand corrected and humbled. 

As I look back, this is a classic David vs. Goliath battle we all grew up listening to. In the modern political context, this is happening quite regularly. In fact, our neighbouring countries like Sri Lanka, Nepal have given positive verdicts to the challengers. This isn’t just a political upset. It’s a masterclass in strategy, positioning and execution.

In the business world we have seen this quite often. A startup or new innovation challenging an established company and taking them down - Apple vs. Blackberry, Netflix vs. Blockbuster, Marico vs. Unilever and so on. Seen through a business lens, this mandate offers some clear and practical lessons. Here are a few that MSMEs and startups can take away.

1. What problem are you solving?

This is the single most important factor. But given the population size, how does one go about identifying it? I think Vijay's team tackled this by identifying the competitor first and then working backwards to see the problem people had with them. He positioned the party as the answer to it.

Within that, there are multiple issues - corruption, nepotism, bureaucratic red tape, poor quality of government services, etc. Since there were many, they simply packaged it into one bundle and labelled it as evil. It was a strong analogy and very relatable for the customers. Many slogans were built around this.

2. What's your Ideal Customer Profile (ICP)?

It was very clear from the start because it was the fan base which got converted into the party. But the fan base alone won't suffice to win elections. They wanted to target multiple segments and this is where I think they created the concept of ideological leaders. To the uninitiated, there are 5 leaders from whom the party derives its ideology. Each leader represents a different strand of thought and identity. This way, even competing segments felt, “Ok, I’m included in this.”

So, in your business, who are you targeting?

3. Know your competitor

From the very start, the competitor was called out. Vijay didn't fight the battle on many fronts and lose energy. He concentrated all efforts on one competitor. In business, you can adopt this as long as there is an underlying distrust or discomfort among users. In this case, people were looking for an alternative and this was provided.

From our own backyard, I recollect stories of Zendesk & Freshdesk (now Freshworks). Freshworks simply called out the flaws of the competitor. They were able to do it only because they had a thorough understanding of the competitor’s product and features.

4. Consistent messaging

The focus was only on one competitor, with no deviations. The seeds were sown consistently in the minds of people. As the message kept spreading, even the fencesitters started noticing. Vijay was very strident in targeting one competitor on all platforms. He refused to acknowledge a tripolar contest and made it a bipolar contest. This way, the message he sent was very clear and simple - I’m the alternative.

So, what is the message you are leaving in your target market?

5. Branding

This is a case of personal branding coming to the fore. But equally important is the visual element of “Whistle”. I don’t know who chose that symbol, but the moment it was released, I felt this could be a gamechanger. Old timers know, people in rural, semi-urban and even in a few urban pockets blindly vote for the symbol. Think of Rising Sun, Two Leaves, or Mango. It is deeply embedded in people’s psyche. This is one reason why Naam Tamilar Katchi fought to get back the Farmer symbol.

It is not easy to popularise a symbol with a limited budget. That is why many parties look for a strong visual. Whistle is low cost, widely used, and hence creates an immediate connect. MSMEs and startups, think about your own logo. Is it connecting back to your core identity and values? Is it easy to make it popular?

6. Converting loyalists into evangelists

A loyalist stays true to you, but an evangelist does the work for you. Much like Apple fans or Harley owners, the evangelist carried the message. This is despite Vijay campaigning in very few places. In one statement, he said, “I may not be able to visit everywhere, but I will ensure Whistle enters every home.” This is where the loyalists got converted into evangelists and started carrying his message to every nook and corner.

They even forced people to vote as per their choice. This may not be right, because voting is a personal choice and a fundamental right. But the larger lesson here is about the raving fans who made it possible. In marketing, we have heard about decision-makers, influencers, etc. This is a classic example of influencers forcing decision-makers.

So, how are you going to get your customers to become evangelists?

Conclusion

In conclusion, this is a classic case study for all entrepreneurs and business owners. David didn't defeat Goliath by being stronger. He won by being smarter, focused and deeply connected to his cause. That is exactly what this election demonstrated and this is what every MSME and startup must internalise. Clarity beats resources. Consistency beats noise. And raving fans beat paid armies, every single time.

Kudos to the brilliant political strategists and the entire team behind the scenes who made this remarkable victory possible. 

FY2025-26 was demanding. Full of meetings, revised plans, deadlines and moments that tested patience in ways I hadn't quite anticipated. And yet, as I sit down to reflect on this year, the sharpest lesson didn't come from any of that. It came from a roadside shop.

I had gone to the e-sevai center to get a government certificate. It was crowded, so I decided to return the next day. On the way back home, I spotted this shop's signboard, Hello Xerox at Little Mount, Chennai. It was one of those ubiquitous shops dotting the roadside. Unremarkable on the outside. But this one offered a lot of added services. The person behind the counter was helpful and within five minutes, the work was done. The service charge was nominal. He told me I'd receive a notification from the Government once the certificate was ready and shared a link to check the status. Simple, neat and job done.

Well, the story is not about what happened till now. Nor is it about how Xerox became the default name for photocopying services. 

It begins a few days later. I had already checked the government link and downloaded the certificate myself. And then, a few minutes later, a WhatsApp message arrived from the shop with the certificate attached. He had been tracking it too. Quietly, without being asked. The job was done. Payment had been completed. There was absolutely no obligation for him to download that certificate and send it to me. It wasn't part of any brief. No one asked him to. But he did it anyway. And that one small gesture is what made all the difference. Now, he has a loyal customer. I go back to that shop for my documentation needs, without a second thought.

The lesson from that little shop: a small extra effort, offered consistently, compounds into something far greater over time.

Post-Sale Service: Where Most Businesses Drop the Ball

Here's the uncomfortable truth, most businesses, regardless of size, invest heavily in acquiring customers and almost nothing in retaining them. The sale is celebrated. What comes after is largely neglected. For MSMEs, this is a costly blind spot. These are the mistakes that play out repeatedly:

• The sale ends and so does the relationship: Once payment is received, attention moves to the next prospect. The existing customer is left to figure things out on their own. This is where trust erodes quietly, without a single complaint being raised because most dissatisfied customers simply don't come back.

• Process over people: Automated messages, standard responses, templated follow-ups none of these can replace the feeling of being genuinely looked after. Customers can tell the difference between a system responding to them and a person caring about them. MSMEs that rely entirely on automation for post-sale communication are solving the wrong problem.

• No confirmation, no closure: A transaction that ends without acknowledgment leaves the customer in uncertainty. Did it go through? Is everything in order? A simple confirmation as a message, a call, even a WhatsApp note costs next to nothing but signals professionalism

• Treating service as a cost, not an investment: When post-sale support is viewed purely as an operational expense, it gets understaffed and under-trained. The mindset shift that every MSME owner needs to make is that, “your most profitable customer is the one you already have”. Retention is cheaper than acquisition, every single time.

The MSME Advantage 

Large corporations have the budgets, the tools, and the playbooks. But they also have multiple layers of approvals, processes, and departments that slow down the very human instinct to simply help. MSMEs don't have that problem. You have proximity. You have agility. And you have the freedom to act on good intent without waiting for a policy to permit it.

The person at Hello Xerox didn't need a CRM system or a customer success framework. He needed thirty seconds and the right mindset. That is the entire playbook. So MSMEs simply Xerox this idea in your business. 

As an MSME owner, your edge isn't price or scale. It is the ability to make every customer feel like they matter because in a business your size, they genuinely do. Every business is unique, no doubt. But if you think it through, there are usually dozens of ways to genuinely delight a customer at zero cost to the company. It doesn't need a budget. It doesn't need a committee. It needs the right intent, and the willingness to go just one step further than expected.

That WhatsApp message took him thirty seconds. It earned him a customer for life.

As I close the books on FY2025-26, that's the thought I'm carrying into the new year, not a number, not a target. Just the quiet reminder that intent, expressed in small actions, is what builds something lasting.

Here's to FY2026. May we all find our thirty-second moments.

I first met Datuk Seri M. Saravanan around 2018. At that point, it was purely an introduction with no particular depth to it. I used to accompany my Rotary friends when they went to meet him and I was more of an observer than a participant in those early interactions.

Probably one of the first things I noticed was quite simple. He is a foodie. He genuinely enjoys exploring different cuisines. Being a foodie myself, I could immediately relate to that. In fact, many of the initial interactions happened over meals accompanying our Rotary friends to different restaurants whenever Datuk was in Chennai. Food, as it often does, created an easy and natural common ground.

But over time, that changed. The acquaintance slowly evolved into a relationship. The meetings became more frequent, the conversations more open, and what started as a formal interaction began to reveal the layers of the person behind the public image. I began to observe qualities that define leadership in a much deeper and quieter way.

He has also been a strong supporter of our Seyal forum and has been its patron for several years now. We had the opportunity to recognize him with an award through Rotary. Over the years, I have met him on multiple occasions, in different settings, across cities and even countries including the inauguration of the Singapore Chapter in November 2025, where he was the Chief Guest.

Three qualities about him that stand out for me.

1. A True People's Leader

He is almost always surrounded by people. But what is interesting is not the crowd. It is how he engages with them. There is no visible hierarchy in his interactions. He speaks to everyone. He listens. He acknowledges. There is a certain warmth in the way he connects with people that does not feel forced or political. It feels genuine and that distinction is not a small one.

One instance that stands out is from the COVID period. Many Malaysian Tamilians were stranded in Chennai due to the lockdown. It was a deeply uncertain time, travel was restricted overnight. With flights being cancelled, anxiety was high and people were far from home with no clear answers. During that phase, he took significant personal efforts to ensure their safety and well-being. There are many such instances I could point to, but what matters more than the actions themselves is the intent behind them.

Leadership, in such moments, is not about position or visibility. It is about responsibility and the willingness to show up for people even when no one is watching.

2. He Values Friendship

In many public roles, relationships tend to become transactional over time. Meetings are scheduled. Conversations are measured. Interactions are often driven by necessity rather than genuine connection. But with him, there is a visible and consistent effort to maintain friendships beyond the formal context. He remembers people. He stays connected. He makes time and that, in itself, says a great deal about him.

I have had the opportunity to meet him along with a small group at his home. In that setting, away from public events and formal gatherings, he was a perfect host - warm and  attentive. That ability to transition from a public leader to a personal friend, without effort or pretence, is a quality that is rare.

3. Energy That Sustains

Energy is an underrated leadership trait. Not the performative kind that appears on stage and disappears backstage, but the kind that remains consistent regardless of the setting or the hour. There is no visible fatigue in how he interacts with people. No drop in enthusiasm. No sense of disengagement. Perhaps the positive people around him play a role in sustaining that energy. 

I have seen him at the airport well past midnight, after long and demanding travel schedules, engaging with the same ease as he would at any formal event. He also maintains his physical fitness with evident discipline. I am not entirely sure how he finds the time for it, but it reflects something important. Discipline, more often than not, sits quietly behind sustained energy and sustained energy is what keeps a leader going long after the initial enthusiasm has faded.

Over the years, what started as a casual introduction over shared meals turned into a series of meaningful observations across very different settings. Not every leadership lesson comes from a structured conversation or a formal exchange. Sometimes, it comes from simply watching how a person shows up - consistently, unhurriedly, and with the same warmth across situations, across years, and across the distance that time can often create.

A lot has been said about AI. One statement from Mr.Vinod Khosla caught my eye. To quote - “By 2050, it'll be very clear that nobody needs jobs because with enough production of goods and services that are near free, you won't need jobs.”

This made me wonder, could it be possible? And secondly, what if it is possible?

Let us understand the base concept first.

The earliest form of economic activity started with the barter system. Over time, value got attached to particular produce and it started attracting better yields. This led to the introduction of money as a concept of value and today we are here.

Across this evolution, two constants remained:

• Buyer and seller

• Product or service of value

This unit transaction is what builds the economy at a larger level.

Machine and AI per se cannot create an economy. They are tools to create. But value perception is driven by human needs and wants. Even assuming super-intelligence, the trade that happens between machines will create only virtual value unless it ultimately serves human utility. Without human participation, perception and demand, it is difficult to anchor a real world economy.

Economy, at its core, is human.

In the future, it is quite possible that the scale of production, both products and services, due to AI might be so high that costs plummet to abysmally low levels.  Basic needs such as:

• Food

• Shelter

• Clothing

• Healthcare

• Transportation

• Communication

can be revolutionized through technology at scale.

This might lead to a phase where these are commoditized. I believe this is the point Mr. Khosla is trying to raise. Even with very little work done, one might be able to fulfill basic needs. It is also possible that Governments run social programs at scale to meet these needs efficiently.

People with aspirational needs might have to do more. This is where I see the barter system making a comeback, though in a very different manner. Not necessarily exchange of goods, but exchange of skills, creativity, reputation and intellectual contribution.

However, there is also a risk of dystopia if Governments fail to bridge the divide between the haves and the have-nots. Abundance without fair access can deepen inequality instead of solving it.

As someone who works closely with entrepreneurs, MSMEs and capital formation, I keep returning to one question - If survival becomes easy and production becomes automated, what becomes the true driver of value creation?

Capital, incentives and human aspiration may still matter deeply. Technology can reduce effort, but it cannot replace ambition, purpose and the desire to build. Interesting times ahead.

What are your thoughts about the future?

A few weeks ago, I had the opportunity to meet Rotary International Director (RID) and incoming Rotary International (RI) Vice President Rtn. AKS Muruganandam M (MMM). It is a matter of pride that a leader from Tamil Nadu is stepping onto the global stage. He is the fourth Indian and the first person from Tamil Nadu to become the Vice President of Rotary International. Leadership journeys like these do not happen by accident. They are built over decades.

I have known him for the past few years, much before he became RI Director. During our interaction, I also shared my experience as an Assistant Governor in Rotary District 3233. What stood out in our conversation was not about positions, but perspectives. At that level of responsibility, clarity of thought, prioritisation, and disciplined execution are not optional, they are essential.