Small and Medium Enterprises plays an imperative role for the growth of the Indian economy by contributing more than 45% of the industrial output. Despite being the backbone of India’s economy, it is also the most challenged sector.
Here are some of the day to day problems that pose a major challenge for the Indian SMEs.
According to a recent report in July’16 published by MasterCard, India has one of the strongest small and medium enterprises sector in the Asia Pacific region, but poor infrastructure and insecurity over government regulations are a dampener.
SME Business Environment Index tells the suitability of the market environment and the ease of doing business in a market, India scored a decent 50.4 along with other top performers like China (53.8), Australia (52) and Indonesia (51.5), with a score above 50 indicating a ‘Positive outlook’ and above 60 indicating ‘exceptional rating’.
“In line with the high growth GDP forecast (7.5 per cent in 2015 and similar forecast in 2016), business owners have a positive outlook on the economic and business conditions for growth and also business owners feel positive about their ability to respond the changes and adapt to new situations,” says the report which explains India’s score of 60 in economy, growth and financing category.
Being a country with the largest youth using Internet, India also scored a total of 63 in the Digital Engagement Category.
To make up for the challenges that the SME sector faces several plans have been rolled out. Cluster Infrastructure development through PPP model, solid ICT networks to let them compete globally, easy capital generation means and relaxation in Government regulations & policies will facilitate the ease of doing business in India.
Trusted by 60,000+ customers worldwide
With technology taking a new shape now and then, it’s natural for business leaders to be mistrustful of technology,...
The manufacturing industry is not immune to this unexpected and difficult time. The past few months have been tough...
With light hovering over the lockdown tunnel, many small and medium-size businesses have ramped up their preparations for a...
Streamline your business processes and improve productivity using our cutting edge ERP solutions & service offerings custom built for small and medium enterprises.
Our e-Governance solutions enable the government to reduce operational complexities and help citizens, businesses & government bodies to leverage technology to access public services with ease.
Our products portfolio comprises of business automation software’ that helps you focus on high-value tasks and improves organizational efficiency by automating repetitive human tasks, process workflows, data capture & decision making.
Get actionable business insights with our cutting edge BI products & consulting services. Make informed decisions and improve business efficiency with real-time analytics.