While addressing an event in Delhi, Union Minister for MSME, Nitin Gadkari stated the plans and measures to be taken by the government for upgrading the MSME sector
E-Commerce portal Bharat Craft will provide a direct interface between buyers and sellers. In the next 2-3 years this portal will bring a turnover of about Rs 10 lakh crore to the MSME sector
Access to credit is one of the most painful points among the MSMEs in India. However, with alternate data, GST data stack and AI-driven algorithms, MSMEs are hoping for a change in the credit positions - P2P lenders have stepped up to take up the challenge.
The easier and cheaper credit through digital lending has the potential to start a virtuous cycle of formalization, so much so that up to 85 per cent of MSMEs could be formal by 2023