Only 5% MSMEs have fully embraced digital technologies, says Yes Bank study - Express Computer
21 Jan 2019 12:09 AM GMT
Even though over 50 per cent of the digitally-enabled MSMEs highlighted several benefits (increase in profitability, operational efficiency and improved customer engagement), lack of know-how and skilled manpower emerged as key barriers for wider digital adoption
- Yes Bank conducted a five-month survey covering over 2,700 MSMEs across 20 industries from all over the country, to analyse the impact of digitisation on Indian MSMEs.
- According to the survey, while over 60 per cent of MSME respondents are digital users, only five per cent have fully embraced digital technologies.
- Greater digitisation of MSMEs has the potential to enhance the sector’s GDP contribution (from the current eight per cent share), heighten employment opportunities for India’s growing workforce and boost overall economic growth.
- Digitisation is becoming increasingly vital for long term survival and future growth.
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