Small and medium businesses (SMBs) in India that use cloud and mobile
tools are reaping huge dividends, according to a report released by
Deloitte and Google.
The report states that moving from offline to an
advanced digital engagement could mean revenue growth of up to 27
percent more than those who have not begun their digital adoption
strategy.
Based on a national survey of 500 businesses, the report
states that digitally advanced SMBs can help India achieve its national
objectives of higher economic growth, creating jobs and aiding in more
exports.
Compared with SMBs without a digital footprint, those
with higher digital engagement are more likely to increase employment by
up to 84 percent, increase access to international markets by up to 65
percent, and are likely to offer new products up to 4.5 times, the
report said on Wednesday.
"India has huge potential to become one
of the biggest economies in the world and digitisation is one of the
important factors that can make a significant difference," said Prakash
C. Prabhakar, director, Deloitte India.
"While conducting this
study, we realised that two-thirds of Indian SMBs are missing out on a
huge digital opportunity. In today's time, technology is a critical
success factor and can be the differentiator between success and
failure," he said.
Interestingly, the report states that one-third
of Indian SMBs operate totally offline with no devices and having no
online presence.
"These businesses see their revenues declining
eight percent annually. However, those businesses that are digitally
advanced are growing 19 percent annually," Prabhakar said.
As per the report, digitising the SMBs can help in the creation of 50 million new non-agricultural jobs.
Mohit
Pande, country head Google for Work, Google India, said: "This report
puts some numbers to the great stories that I hear from our Google for
Work customers every day."
"From helping them grow, to going
global, or connecting and collaborating with employees more easily,
cloud and mobile tools can supercharge small businesses, and we look
forward to helping more of them unlock their digital potential," he
said.
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