FIRST India workshop to fuel transformation of 24 Lakh MSMEs in Hyderabad
Telugu super news,Hyderabad,june 20,2023:Hyderabad, a home to approximately 26 lakhs MSMEs, of which 56% are in rural areas, is witnessing a remarkable digital transformation. In line with this, the Forum for Internet Retailers, Sellers & Traders, India (FIRST India) hosted “Future Proofing of Indian Enterprises”, a digitisation workshop in the city, aimed at creating awareness and supporting small businesses on the opportunities that will help them go digital and become self-reliant.
Hyderabad is at the forefront of the digitization wave, embracing cutting-edge technology and fostering a culture of innovation to drive profound transformations across various sectors. With initiatives like Digital Telangana and T-Hub, the city is emerging as a hub for MSMEs and technology-driven advancements. By leveraging the power of digitization, MSMEs in Hyderabad can greatly benefit from utilizing e-commerce platforms for their business operations. These online marketplaces provide MSMEs with a vast potential customer base, expanding their reach beyond the local market to a global audience, and opening new avenues for growth and revenue generation. E-commerce platforms offer cost-effective solutions for establishing and maintaining an online presence, eliminating the need for significant investments in physical stores or infrastructure. Moreover, these platforms provide tools and analytics that help MSMEs understand customer behavior, preferences, and trends, enabling them to tailor their offerings accordingly. Additionally, online marketplaces enable MSMEs to stay competitive in the digital age, fostering business sustainability and growth.
Mr. Vinod Kumar, President, India SME Forum, and Trustee & President, FIRST India said, “There is no doubt that the e-commerce boom in Hyderabad is accelerating technological innovations and acting as a catalyst for MSME growth and expansion. Our mission is to fuel this level of digitization among MSMEs to increase the contribution of the sector to the country’s economy, surpassing its current share. This would create more employment opportunities for India’s expanding workforce and stimulate a stronger business ecosystem.”
Ch. Krishna Gupta, Chairman, Federation of all India Vyapar Mandal said “We cannot stop online trade. Not one but thousands of companies use online trade in India. There are so many ways through which we can open avenues to sell what we sell online to B2C people. There is a need to negotiate the price with suppliers and bargain on the price, along with counter sales to generate revenue and scale business.”
An online seller from Hyderabad, Bhaskar Badugu of Chandana Cotton Creations, said, “E-commerce is a transformative bridge between manufacturers and customers. Marketplaces like Amazon are liberating us from traditional models to connect directly with customers, offer personalized experiences that transcend borders at reduced maintenance and inventory costs. As Amazon sellers, we are rewriting the traditional rules of doing business to enable growth and reach new heights, one customer at a time.”
These FIRST India workshops have also been conducted across various MSMEs clusters in India such as Delhi, Ahmedabad, Chennai and Kolkata, witnessing participation from eminent personalities and sellers from the industry.