Information Technology leading path of Indian MSMEs to march as Champions
Technology is very diverse in its forms; one of its branches is Information Technology (IT), which acts as a boon for MSMEs. IT has a great impact on all aspects of life and it is transforming the global economy in terms of ways of doing business. IT has a huge impact on most industries and usage of these technologies is reforming the rules of business, leading to the structural transformation of enterprises and businesses. Use of correct technology for businesses can lead enterprises touch sky-high successes, as accurately stated by Prime Minister Narendra Modi, “I see technology as a means to empower and as a tool that bridges the distance between hope and opportunity”. Information Technology plays an essential role in escalating the profitability of the organizations. It also gives rise to competitiveness among the Small and Medium Enterprises (SMEs) making them think about the research and development along with the availability of the latest technology. IT is a mechanism, which enables SMEs to respond to customers’ complaints and requirements efficiently by enabling information to be transmitted through various mediums including emails, telephonic, and social media channels. Enterprises can use various platforms of IT services for learning, marketing and advertising, selling their products and services, as well as trading, among various other uses of this technology.