Shruti Suman
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the Indian economy, playing a vital role in achieving the nation’s vision for Viksit Bharat 2047. These enterprises contribute significantly to economic growth, exports, and employment, accounting for approximately 30% of India’s GDP, 48% of exports, and employing around 110 million people. Government support, through regulatory frameworks and schemes, is crucial in fostering their development. Raising awareness at the grassroots level will further bolster the enthusiasm among MSMEs.
Mr. Piyush Singh, Founder of CeDISI, is spearheading a Digital MSME Yatra, a two-month journey that commenced on July 1, 2024, and will conclude in August 2024. An industry veteran and global consultant with over 16 years of experience in FinTech, inclusion, and MSMEs, Piyush is dedicated to advancing the growth of Nano and MSMEs worldwide. He believes that innovative technologies can significantly enhance business growth and skill development in this sector.
During the Yatra, Piyush is engaging with entrepreneurs across various segments—services, manufacturing, trading, wholesale, and retail—in Delhi, Noida, and Gurugram. From street vendors to enterprises with turnovers up to Rs. 250 crore, the initiative aims to cover the entire MSME spectrum.
The Yatra has three primary objectives: understanding the current level of digital awareness among MSMEs, identifying the challenges they face in digitalization, and raising awareness about government schemes that support entrepreneurship. Engaging with industry experts and associations, Piyush seeks to share and disseminate the pain points of MSMEs while encouraging them to leverage available resources for growth.
Reflecting on the Yatra’s progress, Piyush notes, “Nano and MSMEs are critical to our country’s economic growth. Leveraging technology and skill development is essential for their progress.” He acknowledges challenges such as the perception of government schemes as cumbersome and the reliance on basic digital tools like WhatsApp and Excel. However, he sees opportunities in generative AI and emphasizes a multi-stakeholder approach to address the industry’s unorganized nature.
Through CeDISI, Piyush aims to address the technological, business growth, and skill development challenges faced by MSMEs across India, collaborating with national and international stakeholders to share insights globally.
By collaborating with national and international stakeholders and donors, CeDISI wants to work and share its learnings globally, addressing the business growth and skill gaps that MSMEs face worldwide.
NI Bureau
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