As India has entered the Amrit Kaal, a prosperous era of growth and development, Micro, Small, and Medium Enterprises (MSMEs) play a crucial role. With over 63 million MSMEs in the country, these enterprises are the backbone of the Indian economy, contributing significantly to employment generation and overall economic growth. In recent years, a wave of Indian enablement platforms has emerged, providing MSMEs with the necessary tools and support to grow their businesses effectively. Here’s how these platforms are empowering MSMEs to thrive in the competitive business landscape.
- Shiprocket:
Shiprocket, India’s leading E-Commerce Enablement platform and 106th unicorn, simplifies business establishment and expansion by connecting retailers, carriers, and consumers nationwide and globally. The platform is a true ‘partner in growth’ for MSMEs. With comprehensive tech integrations, the platform offers seamless e-commerce solutions for merchants, including marketing automation and post-purchase services. It supports international expansion, enabling merchants to effortlessly sell globally. Serving over 3 lakh sellers monthly, Shiprocket processes 20 million transactions, leveraging AI-driven products backed by a billion data points. Their vision is to empower small Indian brands to succeed globally within the next five years.
- Razorpay:
Razorpay is a leading Indian online payment gateway that provides secure and hassle-free payment solutions to MSMEs. With its user-friendly interface and a range of payment options, including payment links and subscription billing, Razorpay enables MSMEs to offer convenient payment methods to their customers. This platform helps MSMEs build trust, improve cash flow, and expand their customer base.
- Indifi:
Indifi is a homegrown fintech startup on a mission to help small businesses thrive with seamless, timely, and customized access to credit. Indifi is a digital lending platform that is committed to helping small businesses grow by offering loans to underserved, yet credit-worthy businesses. This is made possible by keeping technology at the core of its business. By harnessing the power of AI, Analytics, and Machine Learning, Indifi circumvents challenges that traditional lenders face. Indifi has disbursed over 68,000 loans to over 30,000 MSMEs in 450 cities, with 20% going to women entrepreneurs
- Zoozle:
Zoozle is an emerging Indian platform that specializes in digital marketing for MSMEs. It offers comprehensive solutions for search engine optimization (SEO), social media marketing, content creation, and analytics. By leveraging Zoozle’s services, MSMEs can enhance their online presence, drive traffic to their websites, and increase customer engagement, resulting in business growth. Zoozle has built a network of more than 14,000 resellers and facilitated over 1,000 transactions. The company’s goal is to have a network of two million resellers by the end of 2024.
5.Khatabook:
Khatabook is an Indian digital ledger and accounting app that primarily targets small and medium-sized businesses. It helps MSMEs maintain digital records of their transactions, track receivables and payables, generate invoices, and manage customer accounts. Khatabook simplifies bookkeeping for MSMEs, making it easier for them to monitor their finances. With a presence in more than 700 Indian locations, KhataBook aspires to digitalize the informal economy by giving small companies access to technology.
The rise of Indian enablement platforms has provided a significant boost to MSMEs, enabling them to navigate the complexities of business growth. These platforms are equipping MSMEs with the necessary tools, technologies, and support to reach a wider customer base, and increase profitability. As MSMEs flourish, they contribute to the nation’s journey towards India@100. Through these platforms, MSMEs are not only driving their own success but also playing a pivotal role in shaping India’s economic landscape for the better.
