In today's rapidly evolving digital landscape, digital transformation has emerged as the linchpin for the success of Micro, Small, and Medium Enterprises (MSMEs) in achieving and sustaining global competitiveness.
The contribution of MSMEs to India's growth is undeniably central, with the sector accounting for nearly 30% of the GDP and 49% of exports, with manufacturing alone contributing 33%. A staggering 63 million MSMEs employing over 100 million individuals form the backbone of this sector, presenting a tremendous opportunity to create millions of new employment opportunities and significantly contribute to India's envisioned $5 trillion economy.
Impressive figures and statistics, indeed. However, a closer look reveals that many MSMEs struggle to break free from their small-scale operations. Hampered by legacy processes and systems, MSME leaders often find themselves preoccupied with addressing day-to-day challenges, preventing them from realizing their full potential.
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