Kozhikode, November 14, 2025: Axis Bank, one of India’s leading private sector banks, hosted the 10th edition of Evolve, its flagship multi-city knowledge series for MSMEs, in Kozhikode, Kerala. The session brought together over 100 entrepreneurs, industry leaders, and policy experts to discuss the theme “MSMEs Powering the $10 Trillion Economy”, focusing on opportunities and challenges that will define India’s growth trajectory from a $4.1 trillion economy today to $10 trillion by 2032.
Kerala, home to over 7 lakh registered MSMEs, nearly 47% of which are women-owned, contributes significantly to India’s economic growth by generating more than 44 lakh jobs and contributing 3.8% to India’s GDP. The state’s increasing focus on industrial corridors, digital adoption, and women-led enterprises reflects its progress toward inclusive and sustainable growth.
The event featured a presentation on the MSME ecosystem and Axis Bank’s dedicated initiatives for the sector by Mr. Vijay Shetty, President & Head – Commercial Banking Coverage Group (CBG), Axis Bank, and Mr. Brejesh Challil, Head – Treasury Market Sales, Axis Bank. This was followed by a panel discussion on Global Market Outlook featuring Mr. Ajil Muhammed, CEO, HiLITE Group, and Mr. M.A. Ashraf, Managing Director, Feroke Boards.
Speaking at the event, Mr. Vijay Shetty said,“At Axis Bank, we believe the next wave of India’s growth will be powered by MSMEs. We are committed to strengthening this sector through tailored financial solutions, technology enablement, and knowledge-sharing platforms like Evolve. Kerala, with its strong entrepreneurial base and nearly half of its MSMEs led by women, stands as a model of inclusive growth. Through Evolve, we aim to collaborate with business leaders across the region to unlock new opportunities and collectively drive India’s journey toward becoming a $10 trillion economy.”
Axis Bank’s Evolve initiative goes beyond traditional banking, equipping MSMEs with actionable insights and tools to improve operational efficiency, embrace digital transformation, and expand their market reach. Over the past decade, Evolve has engaged with more than 10,000 entrepreneurs across 50+ cities, helping them navigate evolving market dynamics and build sustainable, future-ready businesses.
As one of Kerala’s fastest-growing business hubs, Kozhikode—once renowned as the “City of Spices”—was chosen as the venue for this milestone edition of Evolve. The upcoming Kozhikode–Kannur industrial corridor, with a planned investment of ₹2,000 crore (FY25–28), is expected to further boost the regional economy and create significant employment opportunities.