Digital India's SME's Economy - Switching to Digital is a Necessity not a Choice !!!

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 and 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. 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, URL: http://www.ijtsrd.com/papers/ijtsrd18694.pdf