Roadmap for digital technology to foster India’s MSME ecosystem—opportunities and challenges

Digital technology can significantly enable India’s MSME segment, provided the emerging infrastructure has joint buy-in from the government, solution providers and importantly users. The digital landscape catering to businesses has drastically changed in recent years, several elements have emerged that can start shaping the contours of a strong digital ecosystem. The challenges reside in addressing a complex and heterogeneous MSME segment, dominated by micro enterprises at different stages, and different levels of digital readiness. The enticement for businesses to fully embrace digital technology would be to provide a digital ecosystem that provides end-to-end solutions, from finance access, payments, operations, management to even skilling and knowledge sources that are convenient.