MSMEs need to adopt tech-based business models to grow: SAP India
New Delhi, July 25 (KNN) In order to keep up with the global market which is highly competitive, the Indian Micro, Small and Medium Enterprises (MSMEs) need to work on business models that are backed with digital solutions, German software MNC SAP – India said in a finding.
Highlighting the potential in the Indian MSME sector, SAP said that the industry in the country is efficient and in good shape. It must take its success a step further by becoming digital to be able to compete with the MSMEs from other countries.
Deb Deep Sengupta, President and MD of SAP India in a press interview emphasized that the MSMEs need to excel in three key areas, these include access, enablement and affordability.
He further informed that of the 8000 plus clients of his company, over 6,600 are companies belonging to the SME sector, which is a positive indicator that the SMEs in the country are willing to adapt digital models in doing business.
He also mentioned about the MoU that was inked recently between his company and the MSME Ministry, Under the MoU, a programme named “Bharat ERP” will be launched to enable digital transformation in the Indian MSMEs.
The program has set a target of extending training and digital infrastructure to over 30,000 MSMEs in the next three years. (KNN/ DA)