Various surveys have reported that majority of MSMEs have not only faced plummeting sales but even closures in the face of precipitous fall in demand as well as disrupted supplies
30% of MSMEs commencing ecommerce website since the beginning of the lockdown on account of Covid-19
While Covid-19 has spelt disaster for businesses, ironically enough, it has also catalysed the rise of several new-age technology startups
As humanity stands on the cusp of the fourth industrial revolution or Industry 4.0, businesses worldwide including in India are reinventing themselves. Ironically enough, the MSME sector in the country has remained on the periphery of this industrial resurgence and reinvention.
Limited to basic level technologies and processes adopted by manufacturing and services, it is time for the MSME sector to take that technological leap of faith and pick up its pace in keeping with the rest of the industry and indeed the world. For a sector which contributes to 29% of GDP, 45% of…