With Multiple Schemes Launched, Here’s What Modi Govt Can Do Next To Help MSMEs Reach Full Potential

Technology for MSMEs: While in this year’s budget proposal, the government has made a few positive steps in helping small businesses with extending capital gains and exemptions, there are more measures that the government can focus on providing to help SMBs reach their maximum potential.

Technology for MSMEs: In the world recovering from the aftermath of the global COVID pandemic, it has been well established that small and medium businesses (SMBs) biggest hope to survive in the recovering market is digitalisation. According to a KPMG-Google report, digital SMBs are expected to grow revenues and rake up profits twice as fast as their offline counterparts. Small businesses have learned the importance of creating a presence in today’s digital marketplace amidst the pandemic-induced lockdown. Regardless of the large volumes, the SMB sector in India has not seen momentous growth. There are several reasons thought to be behind the reluctance to grow online including lack of infrastructure, financial help, gender gap, and absence of digital skills – all of which make the journey to go digital, a challenge for Indian small businesses.

Source: Financial Express

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