It is interesting to note that Indian Micro, small and medium enterprises (MSMEs) are going towards digitilization in a speedy manner. This enables them to get connected to the stream of customers through e commerce means. This in turn has paved avenues for MSMEs to have a global marketing connection.
The Federation of Indian Chambers of Commerce and Industry and the Confederation of Micro, Small and Medium Enterprises (CMSME) details about the tremendous scope for the Indian exports through online platform.
It is noted that more than 70 per cent of the MSMEs are comfortably using computers, who inturn majorly also have internet connections. This means that there is good scope for expanding business through e-commerce, thus getting connected with overseas buyers. Further,
- In such a business transaction, e-mail was seen to be the main mode of communication, amongst the various MSMEs.
- Majority of the MSMEs revealed that though have a website, the same is put to use only for exhibiting their products, and not for any sales transactions.
- It is further noted that more than 1.4 billion people had made purchases through online mode, in 2015 and the same is expected to cross 2 billion in 2019.
An MSME (Micro, Small and Medium Enterprise) is defined by RBI/GOI differently for the Manufacturing and the Services Sector. Manufacturing sector refers to enterprises engaged in manufacture or production, processing or preservation of goods.