Want to learn more?
CONTACT US
Contact Us
    We are committed to protecting and respecting your privacy. Please review our privacy policy for more information. If you consent to us contacting you for this purpose, please tick above. By clicking Register below, you consent to allow Orion Innovation to store and process the personal information submitted above to provide you the content requested.
  • This field is for validation purposes and should be left unchanged.

Here is an exclusive conversation between Jaepy Kurian Head of Delivery, India at Orion Innovation and Faiz Askari, Founder and Editor of SMEStreet. In this exclusive interview, the pivotal role of digital transformation in reshaping India’s MSME landscape is explained.  Also, explore the impact on sales, customer experience, productivity, innovation, and access to finance, propelled by initiatives like ONDC and ECLGS in this interview. Learn why digital evolution is imperative for MSME success, driven by innovation, government support, and collaborative efforts.

Here are the edited excerpts:

Digital Transformation Impact on Indian MSMEs

Q1. How is Digital Transformation likely to influence the Indian MSME sector?

The MSME sector relies heavily on digital transformation and the speed of adoption to thrive. Within this sector, there is a clear need for:

  • Increased sales: E-commerce platforms play a crucial role in facilitating direct sales to consumers, while online marketplaces provide extensive access to buyers. For instance, the Government of India’s ONDC (Open Network for Digital Commerce) fosters open interchange and connections among shoppers, technology platforms, and retailers.
  • Enhanced customer experience: Leveraging data analytics and insights enables the customization of offers and recommendations based on customer behaviour. Additionally, maximizing digital channels such as chatbots and social media avenues contributes to an improved customer experience.
  • Increased work productivity and improved efficiency: Cloud-based solutions offer easy access to various CRM, accounting applications, and software, facilitating the automation of mundane and repetitive tasks, thereby enhancing productivity.
  • Innovation: Innovative problem-solving approaches through data analytics and collaboration tools drive creativity within the MSME sector. For example, digital lending platforms leverage businesses’ digital footprint to facilitate credit access and uninterrupted growth.
  • Easier access to finance: Streamlining loan applications and approvals is critical for MSMEs. Initiatives such as the Government scheme ECLGS (Emergency Credit Line Guarantee Scheme) provide additional loans, while the surge in digital payment adoption post-demonetization and COVID has streamlined transactions and cash flow for MSMEs.

Read the full article on SMEStreet.in.

Keep Connected