Technology Readiness and The Indian MSME Sector
India’s on a digital drive and the situation has never been better! The emergence of digital connectivity has ensured that the e-business sector in the B2B space is all set to explode in the years to come. For decades, our businesses have been limited by geographical and psychological boundaries that have made the possibility of exponential growth defunct. But now, thanks to the initiatives by the government, the barriers to business are being broken by high-speed internet connectivity in tier 3 and 4 cities along with villages at panchayat levels. Furthermore, the implementation of GST has decimated all boundaries and opened out profitable avenues of doing business across states and geographies.
Our economy can truly be on the path to growth with the advent of e-commerce in the B2B sector. What India needs is a platform that allows MSMEs to transact digitally on the B2B space. Buying and Selling in bulk needs to be made easier; the old ways need to be replaced by newer, more efficient and effective mechanisms. The great news is that ,digitally, all this is possible!
GlocalBazaar has ensured that this technology drive is utilized well and has empowered all its members to transact in bulk and take advatange of the new measures to find new avenues and grow their businesses by becoming a part of the new digital wave.
Below is a quick excerpt from www.makeinindia.com re-iterating the fact that India is well and truly on a fast track to digital readiness.
More than 100,000 Gram Panchayats or Village Councils now have access to high-speed broadband, thanks to Government of India’s BharatNet project. BharatNet is probably the world’s largest rural broadband project. As on December 31, 2017, 254,895 km of optical fibre cable had been laid across 109,926 Gram Panchayats as part of the project1. BharatNet is expected to make digital delivery of services for health, education, livelihood, skills training, e-agriculture and e-commerce available to the rural poor, in addition to generating massive employment opportunities.
Apart from BharatNet, India has more than 1 billion mobile phone subscriptions and 462 million Internet users. India improved its ranking on the Technology Readiness Pillar of the World Economic Forum’s Global Competitiveness Index 2017 by three places(1).