Ecommerce exports offer tremendous growth potential for Indian MSMEs, but currently see only 1 per cent engaging in direct exports
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The sector is the second largest employer and contributes to over 30 per cent of the gross domestic product (GDP), making its growth crucial
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The Ministry of MSMEs receives allocation of Rs 22,137.95 crore under the interim Budget 2024-25 for implementing various schemes and technology upgrades
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Ealier, Finance Minister Nirmala Sitharaman hinted that the government may tweak the rule in the the union budget in July after MSMEs made their case
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While 49 per cent of micro enterprises with turnovers less than Rs 5 crore expressed a desire to reduce their cloud spending next year, 44 per cent of medium-sized enterprises, with turnovers ranging between Rs 100 crore and Rs 250 crore, indicated plans to increase their cloud expenditure for 2025
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PayNearby's 'MSME Digital Index 2024' shows 65 per cent of small businesses using digital tools, with a positive impact on operations and sales
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In a pre-budget meeting with union finance minister Nirmala Sitharaman, industry bodies such as PHDCCI, FICCI and Assocham suggest bolstering Indian micro, small and medium enterprises (MSMEs) and helping them overcome monetary hurdles
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Going forward, employment creation must be at the top of the agenda to absorb the growing young population in the country, says PHDCCI
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The MSME sector expects the new government to enhance access to credit, simplify regulatory frameworks, and provide robust support for digital transformation
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The Digital Competition Bill (DCB) threatens to disrupt this symbiotic relationship between MSMEs and large digital platforms, experts say
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