goldmine

SMB and Cloud– The Great Indian Goldmine

India’s industrial landscape is largely dotted with small and medium businesses (SMB’s). More than 90% of income is generated from these businesses. As per data sourced from the Indian Chamber of Commerce and Industry, India has a staggering 48 mn SMB’s which contribute to about 60% of the country’s GDP. It is also one of the largest employers in the country and employs 60 mn people every year.Despite this, the segment faces challenges and the biggest challenge grappling the industry is its inability to adopt technology especially in a day and age where technology is the driving force of every business. According to a study conducted by Zinnov, only 12 mn SMB’s in the country have adopted technology. However times are changing and SMB’s are realizing the importance of technology for their business and are now adopting technology in a big way.