India’s Trade Receivables Discounting System (TReDS) is poised for significant expansion, with industry participants projecting a 70–80 percent surge in transaction volumes by FY27. The growth outlook is driven by a government mandate requiring central public sector enterprises (CPSEs) to route payments to MSMEs through TReDS platforms. M1xchange, a leading operator in the segment, has already facilitated over Rs. 3 lakh crore in transactions.