India’s Digital Transformation: Driving MSME Growth
Journal Title: IMPACT : International Journal of Research in Humanities, Arts and Literature ( IMPACT : IJRHAL ) - Year 2018, Vol 6, Issue 3
Abstract
“India is the arena’s biggest experiment, test in digitalization.” Digitalization of Indian commercial enterprise is majorly pushed via the hastily advancing digitization of customers. This has caused accelerated facts traffic and increased established the order of new tech-based totally startups to take advantage of the increase possibilities. The Micro, Small & Medium organizations (MSME) sector contributes approximately 8% of GDP. It also performs a pivotal function in the improvement of the financial system by means of using nearly eighty million human beings, contributing about 45% of the whole manufacturing output and 40% of exports of the country. But, in a swiftly digitalizing economy, these industries fail to hold a pace. On-line consumers in India are developing at a compounded annual growth price (CAGR) of 18% and could reach 220 million by the year 2020. Unfortunately, out of the 51 million SMEs in India, much less than 5-6% have an internet presence. India has embarked on a brand new monetary increase model this is well aligned with international technological and developmental trends. Constructing a hundred clever cities, rejuvenation transformation of round 500 existing mid-sized towns that have a populace of round 1,00,000, digitizing India, and making India an international production hub are a number of the pillars on which the new increase model rests. A thrilling aspect of these increase projects is the synergy among them and their sturdy linkages with manufacturing and carrier sectors. Those are large developing sectors and MSMEs are dominant stakeholders within the associated ecosystems.
Authors and Affiliations
Dr. J. Venkatesh, R. Lavanya Kumari
Keywords
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