Small and Medium Enterprises (SMEs) will have to jump on the technology bandwagon or face the danger of being left behind.
Technology is sweeping the industry and e-commerce is changing the way businesses are done worldwide and no firm can be immune to it, said IT Secretary Jayesh Ranjan on Wednesday night.
He was addressing delegates at the SME Cluster Series 2016 organised by Dun & Bradstreet and Corporation Bank where he revealed that many SMEs did not even have an email ID, let alone keeping their books or accounts in order. Considering that the sector’s vast employability factor and contribution to the economy, the government was planning a technology assistance centre to help them become competitive.
IT major Accenture had been engaged to study a few SME verticals on how they were using the IT tools, why they were not, etc.
While there were 1.23 crore listed SMEs in the country, there were many more in the unorganised sector outside the institutional support although they generated 45 per cent employment, caused 50 per cent exports and 40 per cent of industrial output in the country, said Corp Bank chief general manager Dhananjay Majumdar.
Dun & Bradstreet Head Economic Analysis Group Jayesh Bahadur said Hyderabad has become a hub for SMEs in IT, pharma and others while the new industrial policy, IT policy and T-Hub were generating the right buzz.
Finance Secretary and Director of Industries Navin Mittal also spoke.
A report covering the socio-economic and industrial scenario of Hyderabad about companies with a turnover of less than Rs. 1,000 million was released at the event, showed that most firms were positive about ease of dong business and with availability of skilled labour and infrastructure, they were optimistic about the future growth.
