Mastercard targets 5 lakh small businesses for digital tech adoption by 2025 under new programme financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Why small businesses need to embrace digital
The current business landscape across the globe is being led by digital technologies that are transforming the way systems and processes work.
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There is a high demand for digital and cognitive skills, and MSMEs need to react quickly by becoming digitally enabled. (Express Illustrations)
This year witnessed the worst global crisis of the new millennium, leaving the world gasping and forcing restructuring of the international economic order. The emergence of Covid-19 also affected the small businesses, or Micro, Small & Medium Enterprises (MSMEs), across the globe, forcing them to handle multiple challenges like inadequate cash flows and disrupted supply chains at the same time. It is important for Indian MSMEs to quickly recover from the losses, address cash flows and labour-related challenges to compete both at the domestic and international level, and for some to even survive.
CII program to educate MSME business owners on digital knowhow
The program aims to educate and train MSME business owners and entrepreneurs enabling them to integrate into the digital economy and access credit, expand their market access, diversify their customer base, digitise their financial operations and solidify their supply chain
Joe C Mathew | December 10, 2020 | Updated 20:53 IST
CII launches Digital Saksham for MSMEs
Apex industry chamber Confederation of Indian Industry (CII) has announced a strategic partnership with Mastercard and National Institute for Micro, Small & Medium Enterprises (ni-msme), an organistion of Ministry of MSME to launch the Digital Saksham Initiative - an expansive program designed to strengthen the competitiveness of MSMEs through digital knowhow and acceptance.
Synopsis
Stating how the GDP contribution from rural, tribal and 115 aspirant districts is negligible, the minister said that this is the time for MSME ministry and the industry to concentrate more on such districts.
Nitin Gadkari said that MSMEs present a huge potential for export and can help to make the vision of Prime Minister Narendra Modi a reality.
Emphasising how this is the time for AatmaNirbhar Bharat to make Indian economy strong and create more employment potential, Union Minister for Micro, Small and Medium Enterprises, Nitin Gadkari said that we need to consciously look at increasing our exports.
Speaking at the 17th Confederation of Indian Industry (CII) Global SME Business Summit on Wednesday, the minister said that MSMEs present a huge potential for export and can make the vision of Prime Minister Narendra Modi a reality. “MSMEs constitute a vital part of the economic structure of India. They contribute 30% to GDP and 48% to exports and have created 11 cr job