Digital Technology and MSMEs: A Step to Strengthen the Sustainable and Resilient Economy

Digital technology can significantly help India’s Micro, Small, and Medium Enterprises (MSMEs) sector if the new infrastructure is supported by the Government, solution providers, and users. In recent years, the digital landscape catering to businesses has significantly transformed, and various aspects have developed that can begin creating the contours of a robust digital ecosystem. Addressing a complex and heterogeneous MSME segment characterized by micro-enterprises at multiple phases and levels of digital readiness presents problems. Incentives for enterprises to adopt digital technology would include an ecosystem that provides end-to-end solutions, including access to finance, payments, operations, and management, as well as skilling and handy information resources.