MSMEs- the pillar of the Indian economy

Punit Thakkar, MD & CEO, Shivaami Cloud Services

The key trends 
Known as the backbone of the country’s socio-economic development, MSMEs contribute significantly to the GDP and ensure employment to over 40 percent of India’s workforce. By moving to cloud solutions they have enhanced and stabilized their growth in the market. MSMEs were able to add more value to their data by using cloud solutions. With the use of the cloud, we will see the following trends in the MSMEs market:
Cloud will act as a catalyst for business efficiency and agility
Use of data analytics tool to study the market

Cloud to scale the customers’ business 
Cloud solutions has changed the way businesses function in India and all over. By shifting to the cloud, you basically moved your apps, software programs, desktops, and data and aligned your entire business infrastructure on the cloud. As the working scenario has changed over the last few years, hybrid mode became a necessity. Cloud helped businesses in the transformation to the hybrid model. Now businesses would work from anywhere at any time with the cloud. Therefore MSMEs were able to continue to fulfill the demands of their consumers.  As a cloud solution vendor, we can help customers in understanding the power of cloud solutions and help them in upgrading to one. 

The latest technology adoption trends in MSMEs 
MSMEs are the pillar of the Indian economy. They help in generating employment at the local level and are very important for a country like India.  But in the last few years, the world has faced an unusual situation that forced MSMEs to move to the cloud. Cloud solutions helped them in streamlining their business from anywhere at any time. It assisted them in expanding their market reach at domestic and international levels. With these technological trends in place, MSMEs will be able to make a place for themselves in the market.

New Tools for Marketing: 
With the increase in the growth of technology and the accessibility of the internet, MSMEs are learning to focus and enhance their presence in the market by creating a website, using WhatsApp for Business, and much more in order to connect with the customers. 

Make a financial plan for the future:
Prepare a financial plan for your business, in order to save your business from uncertain situations. Alter your existing financial strategies to make up for any shortcomings. Keep a check on the competitors, as to how they plan for the future. These are some of the adoption trends in the Indian MSME market, which has helped in strengthening their relationship with the customers.