The surge of e-commerce in India is driving the growth of small and
medium enterprises (SMEs), which in turn is contributing to new job
opportunities and GDP contribution, a recent study shows.
The study, titled ‘Impact of Ecommerce on SMEs in India‘ jointly
conducted by domestic e-commerce player Snapdeal and market research
firm KPMG, which also claimed that e-commerce sector in India is
projected to cross $80 billion by 2020, examined the macro-impact of the
sector on the growth of SMEs and identified remaining gaps in the
ecosystem that needed to be plugged.
As per the report, 85% of SMEs who adopted e-commerce believe that it
is a cost effective medium for sales growth. The study also claimed
that SMEs who actively adopt the internet for business activities boast
51% higher revenues, which results in 49% more profit and a 7% broader
consumer base than their offline counterparts.
The study also highlighted the importance of SMEs in the country
which accounted for over 17% of the gross domestic product (GDP) in 2014
and contributed to 45% of the nation’s industrial output and 40% of the
total exports.
It also claimed that SMEs are capable of creating 1.3 million jobs per year.
“The fast paced growth of the e-commerce industry in India represents
an unprecedented opportunity for SMEs. We hope that the findings of
this report will assist policymakers, industry bodies and e-commerce
companies to strengthen the support ecosystem, which enables SMEs to
ride the e-commerce growth wave successfully,” Richard Rekhy, chief
executive of KPMG India, said.
Source: http://indianbizparty.com/news/e-commerce-driving-indias-sme-growth-projected-to-cross-80-billion-by-2020-says-study/
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