Digital India’s SME’s Economy – Switching to Digital is a Necessity not a Choice !!!

Mr. Paresh S. Khetal

Title:
Digital India’s SME’s Economy – Switching to Digital is a Necessity not a Choice !!!

Authors:
Mr. Paresh S. Khetal
DOI:
https://doi.org/10.31142/ijtsrd18694

Cite This Article :

Mr. Paresh S. Khetal "Digital India’s SME’s Economy – Switching to Digital is a Necessity not a Choice !!!" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry, October 2018, pp.150-153, URL: https://www.ijtsrd.com/papers/ijtsrd18694.pdf

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Abstract :
Digitalization of Indian business is majorly driven by the rapidly advancing digitization of consumers. This has led to increased data traffic and accelerated establishment of new tech-based start-ups to take advantage of the growth opportunities. The Micro, Small & Medium Enterprises (MSME) sector contributes about 8% of GDP. It also plays a pivotal role in development of the economy by employing almost 80 million people, contributing about 45% of the total manufacturing output and 40% of exports of the country. However, in a rapidly digitalizing economy, these industries fail to keep pace. Online shoppers in India are growing at compounded annual growth rate (CAGR) of 18% and will reach 220 million by the year 2020. Unfortunately, out of the 51 million SMEs in India, less than 5-6% have an online presence. The companies migrating to an online platform could potentially increase their revenues by 51%, improve operational efficiency and broaden their customer.

Keywords :
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Publication Details:

Unique Identification Number : IJTSRD18694

Published In : Special Issue | International Conference on Digital Economy and its Impact on Business and Industry, October 2018

Page Number(s) : 150-153

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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