Assessing the impact of digitalization on Micro, Small and Medium Enterprizes in India
Assessing the impact of digitalization on Micro, Small and Medium Enterprizes in India

Summary/Abstract: India is the fastest developing economy in the world. The Indian economy is the seventh biggest economy in the world in terms of GDP and the third biggest by purchasing power parity after the US and China. The Indian economy has seen a lot of changes from acting self-dependent to opening its entryway for worldwide exchanging by introducing Liberalization, Privatization, and Globalization in 1991 under the Finance Minister Mr. Manmohan Singh. And from that point in time, India is growing at a great pace. Economic Survey 2015-16, the Indian economy will keep on growing more than 7%in 2016-17 and gradually increase to 8% by FY 2018-19, driven by the gradual usage of changes in the economy, higher disposable income, and change in financial action. The current strides of the Indian government have indicated positive outcomes in the growth of the GDP. In India, most of the transactions are in cash nearly 90% of the stores in the market are accepting money. Micro and small-scale enterprises not only contribute significantly to improved living standards, but they also bring about substantial local capital formation and achieve high levels of productivity and capability. In this situation, this research study takes the initiation to analyze the impact of digitalization on MSMEs as they are one of the major players in the economic development of industrial areas like Karnataka.

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