Google's Digital Push to Empower India's MSMEs

New Delhi, Dec 14 (KNN) Google plans to make a calculated investment in digital payments with the aim to strengthen the dynamic Indian Micro, Small and Medium Enterprise (MSME) market, said Sanjay Gupta, country head and Vice President of Google India, in an exclusive interview with Mint.

Google plans to expand its impact beyond payments, aiming to unlock India's MSME potential through financial inclusion and digital empowerment, noted Gupta, while speaking to Mint.

Recognizing the limited access to credit hindering MSME growth, Gupta said, “India still suffers deeply from lack of access to credit. We haven't built a great MSME part in this country. MSMEs only contribute 28 to 29% of GDP, whereas in the US and China, it goes to 55 to 60% because there is not enough capital (in India) which is easily accessible.”

He added, “If we can enable credit to be made affordable to every Indian in a simple and easy manner, it will be a game changer,” reported Mint.

Google Cloud's support for the Open Network for Digital Commerce (ONDC) aims to foster a thriving digital commerce ecosystem, further boosting MSME activity, Gupta told Mint.

Beyond just payments, Gupta stated, Google envisions smartphones as gateways to citizen services, leveraging AI to personalize and simplify access in local languages, overcoming the barrier of an English-dominated internet.

While the COVID-19 pandemic ravaged many industries, Google took a step to support the struggling media landscape. Recognizing the vital role of media in informing and engaging communities, Google implemented initiatives to help small and large publishers weather the storm.

One of the key initiatives involved opening up the Discover platform, a prime space for brand visibility, to a wider range of media publishers.

This provided small businesses with a valuable opportunity to showcase their brands to a vast audience, fostering brand awareness and growth.

Google offered access to cutting-edge technology and tools to help publishers optimize their content, improve user engagement, and generate revenue.

By opening up the Discover platform and investing in digital transformation initiatives, Google played a crucial role in helping small businesses and publishers not just survive but thrive during the pandemic.

(KNN Bureau)