Digital Transformation an Inevitable Agenda for MSMEs to Survive, Surge Head and Succeed

Abstract

MSMEs segment is the backbone of the Indian economy. However, in past few years, MSMEs have been confronting some challenges viz demonetisation, supply chain bottlenecks, financial crisis and adopting to digital ecosystem.

Growing Importance of Digital MSMEs is not only the policy agenda but it is equally important for the survival and success of this segment. SMEs digitalization will not only improve their competitiveness, it will also benefit society at large because SMEs are the main service providers in the regional economic growth and innovations.

Though it is the buzzword, but anxieties about how to adopt it, what will be the impact of this transformation in business are still impairing many organisation

This article discuss the manner in which the digitalisation can help MSMEs in seizing better business opportunities, what are the major challenges MSMEs face in embracing digital transformation? How they can overcome these challenges?