Revitalizing Trade Finance for MSMES in India Through Blockchain Technology

Authors

  • Dr. Pramod Kumar Pandey Associate Professor Presidency University Bengaluru
  • CMA Ratnesh Kuma Singh AGM Treasury Bangalore International Airport Ltd Bengaluru

DOI:

https://doi.org/10.33516/maj.v57i10.80-82p

Abstract

Role of MSMEs in the economic and social growth of India is indispensable. However, trade finance is a major concern for most of the MSMEs in India. Blockchain technology can play here a crucial role by providing a secured and transparent digital platform thereby reducing both compliance time and cost. However, implementation of blockchain technology requires strong willingness, robust IT infrastructure, substantial changes in regulatory systems and basic IT skills on the part of the users. Given the vision of the Government of India to bring 60 per cent of the SMEs credit under digital umbrella by 2029, it can be contemplated that a new era will open for MSMEs in trade finance in India.

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Published

2022-10-01

How to Cite

Pandey, D. P. K., & Singh, C. R. K. (2022). Revitalizing Trade Finance for MSMES in India Through Blockchain Technology. The Management Accountant Journal, 57(10), 80–82. https://doi.org/10.33516/maj.v57i10.80-82p

Issue

Volume 57, Issue 10, October 2022

Section

MSME
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