As digital technology has tremendous potential to unlock numerous business opportunities, MSMEs in India should rely on new-age technology to tap such opportunities and propel their growth. By leveraging digital technology, MSMEs can reach a wider consumer base, access easy credit, address supply chain leakages, and accelerate their business operations. Optimum utilization of new-age technology can also help ensure customer retention and stock availability and enhance marketing efforts and supply chain management, which will boost the MSMEs’ growth trajectory. Hence, to increase operational efficiency and accelerate the business growth of MSMEs, the need of the hour is to integrate digital solutions.
