Online integration important for MSMEs to survive and scale: Findings from ICRIER report

Posted under: MSME
Date: 2023-10-08
Online integration important for MSMEs to survive and scale: Findings from ICRIER report

A latest survey ‘Leveraging E-commerce for the Growth of MSMEs‘, done by the Indian Council for Research on International Economic Relations (ICRIER), conducted between November 2022 and January 2023, covering 2007 MSMEs registered on the UDYAM platforms was done to ascertain the level of digital integration and the benefits it brings for MSMEs in India.  Of the 2007 MSMEs, 65% of the businesses were micro, 19% were small and the remaining 16% were medium. The findings of the survey revealed that MSMEs integrated with E-commerce platforms have been able to achieve greater market access, with digital adoption and technology may be posing a survival threat than an opportunity for businesses who are yet to join e-commerce platforms in India. MSMEs integrated with e-commerce platforms have reported significant benefits, including increased sales and profit margins.