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International Journal of Management (IJM)
Volume 15, Issue 3, May-June 2024, pp. 192-204, Article ID: IJM_15_03_016
Available online at https://iaeme.com/Home/issue/IJM?Volume=15&Issue=3
ISSN Print: 0976-6502 and ISSN Online: 0976-6510
Impact Factor (2024): 13.89 (Based on Google Scholar Citation)
© IAEME Publication
DIGITALISATION OF MSMES – AN ANALYSIS
Prerna Jain
Research Scholar, UIAMS, Panjab University, Chandigarh, India
Dr. Deepak Kapur
Professor, UBS, Panjab University, Chandigarh, India
Dr. Manjushri Sharma
Assistant Professor, UIAMS, Panjab University, Chandigarh, India
ABSTRACT
Aim: This insight paper's objective is to give a general overview of digitalization in
Indian MSME sector. Micro, small, and medium-sized businesses (MSMEs) in India
have experienced numerous breakthroughs in the past few years, such as the
implementation of the GST system and escalating global rivalry. These difficulties also
offer a chance to embrace digital technology in order to get over challenging
circumstances. MSMEs' innate capacity for growth and their use of digital business
practices will undoubtedly aid the industry in reaching its full potential. The MSME
sector has historically been one of the main engines of the Indian economy. As a key
component of this renaissance, digitalization is improving manufacturing efficiency,
resulting in higher-quality products, and assisting in the development of creative and
original business models. The foundation of emerging countries like India are
Micro small and medium-sized enterprises (MSMEs), which provide millions of families
with work and a means of subsistence. In a nation with a sizable labour pool and a large
demographic sector, MSMEs are essential to the expansion and growth of the economy.
By 2028, the MSME sector in India is estimated to add $1 trillion to the nation's exports,
accounting for about 33% of India's GDP. (pib.gov.in). There are 7.9 million small and
medium-sized businesses (MSMEs) registered in India. There are 7.9 million small and
medium-sized businesses (MSMEs) registered in India. These figures demonstrate the
overall economic influence that this nation's mid-sized enterprises have. Thus, the
authors' goal is to investigate the impacts and challenges of digitalization in the MSME
sector and additionally recommend appropriate corrective actions for improved
MSMEs' digitalization
Research Methodology: The study analysis is qualitative in nature. The information
was gathered from a number of publications, reports from the Indian government,
published research articles, the MSME annual report, and other pertinent organizations
and websites. The findings contain a conclusion and a list of suggestions.
Keywords: Digitalization, Export, Credit, Initiatives, Growth