THE ROLE OF MSMES AND E-COMMERCE PLATFORMS IN THE ECONOMIC GROWH OF ANY NATION..

Micro, Small and Medium Enterprises (MSMEs) forever remain the backbone of any country's economy because these Enterprises employ major population of the country both skilled and unskilled making use of their basic capabilities to the root and produce related products as well as make their services available for the population at a balanced price thus keeping the major economic chain of activities going..

The MSMEs sure are the golden gate to many people of a country as

• They can easily be set up nearer to people of a particular area..

• They often use raw materials of the neighborhood..

• These Enterprises easily adapt to local weather conditions..

• The control of these MSMEs is well possible by Local Ruling Agencies..

The MSMEs have basically 3 problems..

• They don't often have proper storage facilities of finished products..

• They can't directly reach consumers all by themselves..

• They don't have time too to set up these facilities as their productions are continuous, the weaker section labor needing at many places immediate wages and the sale prices having been optimized with min profits as they don't often carry a brand concept of their own..

Here sure, E-Commerce facilities come to their rescue as these remain the live stop gap arrangement between Enterprises and direct user/consumer..

The E-Commerce facilities sure are a boon to people as these alone became the real suppliers of basic needs during indefinite lockdowns imposed due to the spread of covid infection the rest playing low operations and beyond continue..

Since 2014, the Govt of India has bought out initiatives such as Digital India, Make in India, Start-up India etc. to accelerate E-Commerce growth equally encouraging MSMEs to sell their products thru' these sites..

These platforms carried transactions worth of about Rs 55 crores till end of Sept' 20. As part of Digital India initiative, the Ministry of MSME undertook numerous initiatives to digitize entire MSME system, wherein all of their offices have been digitally empowered and efforts have been made to spread awareness on benefits of digital payment solutions..

MSME businesses have unprecedented opportunity to embrace digital transformation with the support built by the current Govt..

In recent years, the rise and emergence of online markets thru' E-Commerce has boosted and had a positive impact on MSMEs. By adopting E-Commerce, MSMEs stand to gain significant advantages such as increased revenues and margins, improved markets, reach access to new markets, savings in marketing spending, customer acquisition and enhanced customer experience and helped a lot in carrying out timely business activities of certain MSMEs in spite of continuous lockdowns imposed in the country..

In conclusion, we can emphatically say that it is imperative in today's market conditions, for MSMEs and E-Commerce Platforms travel together all along both remaining as the true back bone of the Nation's growth and economic activities!

Written as part of Blogchatter's campaign #ECommerceInnovation. Read more posts in the campaign..

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Keywords: MSMES, E-COMMERCE,    #ECommerceInnovation