Government, whether of any state or Centre, on various platforms, has always accepted the potential of Micro, Small, and Medium Enterprises (MSMEs) in India and the pivotal role they play in the Indian economy. No matter what the industry or domain is but MSMEs always contribute a major role in the growth of the particular sector. But, with the advent of the internet, the MSMEs have gained muscle like never before by catering to an online audience. Internet was once the weakness of MSMEs in India but with the passage of time, the weakness turned into the strength of MSMEs and eventually e-commerce proved to be a gamechanger for Indian MSMEs.
MSMEs Enhance Revenues
By embracing e-commerce platforms, MSMEs in India are surpassing existing revenues and business margins due to increased market reach and by establishing online connections with the new and unexplored markets. Moreover, it has been proved in many surveys and reports that MSMEs using the internet are making their jobs way easier as compared to MSME entities which are hesitant or challenged in any manner to embrace e-commerce.
India To Be 2nd Largest E-Commerce Market By 2034
Continuing with the positives that the MSME sector has received in the past due to e-commerce boon, it is expected to fetch likewise returns in the future as well. According to data cited by IBEF, the e-commerce market size in India on a never-before kind of run in India and if the same trend persists with an upward growth trajectory, the US will be surpassed by India to become the second-largest e-commerce market in the world by 2034. And, in turn, MSMEs too will get a huge shot in the arm for their revenue generation.
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How e-commerce has been a gamechanger for Indian MSMEs
INTERNET WAS ONCE THE WEAKNESS OF MSMES IN INDIA. BUT, WITH THE PASSAGE OF TIME, THE WEAKNESS HAS TURNED INTO A SOURCE OF STRENGTH, AND EVENTUALLY E-COMMERCE HAS PROVED TO BE A GAMECHANGER FOR INDIAN MSMES.
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Missing the Target
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ZED SCHEME FOR MSMES
This scheme is an extensive drive to create proper awareness in MSMEs about the Zero Defect Zero Effect (ZED) manufacturing and motivate the entrepreneur for assessment of their enterprises for ZED and support them.
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BACK TO THE WALL
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