This discussion paper aims to bring mitigation and adaptation to climate change to the Indian business mainstream by increasing awareness and encouraging constructive dialogue on business action towards reducing the impacts of climate change on the Indian economy. It provides Micro, Small and Medium Enterprises (MSMEs) the necessary background information on climate change impacts and opportunities as well as showcasing a few illustrative case studies. This discussion paper is hence an important step towards strengthening responsible competitiveness and implementing the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) released in 2011 by the Ministry of Corporate Affairs - specifically the environmental responsibilities stressed in the NVGs.