Forum for Internet Retailers, Sellers & Traders (FIRST) hosted “Future Proofing of Indian Enterprises”, a digitization summit in Surat. Significantly, the Surat Chapter of Confederation of All India Traders (CAIT) committed its support to the campaign aimed at creating awareness and supporting small businesses to go digital and become self-reliant.
The digitization boom in India offers a promising opportunity for MSMEs to leverage e-commerce platforms and unlock benefits such as wider customer reach, streamlined operations, and lower barriers to entry for exporting goods. E-commerce has enabled the digital transformation of MSMEs at minimal cost and investment while also contributing to their presence across markets. According to a recent retail report by FIRST, 72.5% of retailers have high acceptability for adoption of digital tools to improve store operations and offerings with 53% using it to improve collaboration across departments. Gujarat, known for its thriving MSME sector, boasts the fourth-highest number of MSMEs in India. With the recent surge in digitization and e-commerce growth, it has become imperative for these enterprises to embrace digital transformation and adopt e-commerce platforms to stay competitive in the market.
Pramod Bhagat, President, CAIT, said, “By embracing the digital revolution, you have the power to unlock new opportunities for growth, and build a sustainable and successful enterprise. Don’t wait for change to happen – be the change that transforms your business and sets it on a path to success.”
Mitesh Shah, Secretary General, Gujarat Chapter, CAIT, stated, “Study your business, plan to the maximum, network tirelessly, and embrace digital planning – these are the keys to future-proofing your business and making it sustainable. By committing to micro-planning and leveraging the power of technology, you can build a business that stands the test of time and continues to thrive for years to come.”
Vinod Kumar, President, India SME Forum, and Trustee and President, FIRST, said, “Embracing digital transformation is not an option, but a necessity for retailers and MSMEs to thrive in today’s world. Future-proofing your business starts with readying your business for future demands of the market & customers. By embracing technology and staying ahead of the curve, retailers and MSMEs can create a sustainable and futuristic business that can withstand any challenge and seize new opportunities.”