Ludhiana, July 05, 2024 (News Team): Medium, Small, and Micro Enterprises (MSMEs) are the backbone of India’s economy, currently contributing~30% to the country’s GDP. There are several studies that suggest MSMEs will boost their GDP contribution to 35-40% by 2027. Hence, it is crucial for MSMEs to adopt digital transformation to unleash their growth potential and play a pivotal role in making India a Viksit Bharat (a developed economy) by 2047. Recognizing the need for digital adoption, GoI has introduced several key initiatives and policies such as Make in India, Aatmanirbhar Bharat, Udyam Portal, Udyami Mitra and others to enhance productivity, streamline operations, and boost the overall competitiveness of the MSME sector.
As a steadfast partner to the GoI’s growth agenda, Vi Business, the enterprise arm of Vi, a leading telecom operator, has released a nationwide study – ‘Vi Business ReadyForNext MSME Growth Insights Study (Volume 2.0 2024)’, on World MSME Day. This comprehensive study delves into the digital maturity of MSMEs across 16 sectors namely, IT & ITes, Financial Services, Transportation, Construction, Retail, Agriculture, Media & Entertainment, Manufacturing, and others and how they are leveraging digitization and technology.
In addition to this, Vi Business has launched enhanced Digital Assessment Tool, both in English and Hindi as an extension of their dedicated MSME program, #ReadyForNext. The assessment focuses on three key pillars: Digital Customer, Digital Workspace, and Digital Business. Based on responses, the tool provides user specific report stating the digital maturity scores of business, benchmarked against the industry with relevant digital product recommendations.Click here to access the tool online: https://www.myvi.in/business/enterprise-segments/smb/msme-readyfornext
Commenting on the study, Arvind Nevatia, Chief Enterprise Business Officer at Vodafone Idea, said: "At Vi Business, we recognize the crucial role that MSMEs play in India’s growth agenda and their significant contribution to the economy. Our extensive MSME study, highlights the encouraging progress being made by small businesses in India as well as the challenges that remain in their digital transformation. Moreover, the findings of the study, arguably India’s largest MSME based digital assessment study, provide effective and useful insights on the way forward for such organizations. Vi Business is a steadfast partner to drive forward India’s digital economy and help MSMEs accelerate their growth potential.’’