Exploring the Impact of Digital Transformation on Small and Medium-sized Enterprises (SMEs) in India: Opportunities and Challenges

Authors

  •  Riktesh Srivastava College of Business, City University Ajman
  •  Rajita Srivastava Faculty of Business, Banasthali Vidyapith, Jaipur – 304022, Rajasthan

DOI:

https://doi.org/10.53739/samvad/2023/v27/173288

Keywords:

Competitiveness, Digital Adoption, Digital Transformation, SMEs

Abstract

India’s Small and Medium-sized Enterprises (SMEs) are undergoing a dramatic transition as a result of the digital transformation. The current research examines the effects of digital transformation on SMEs, taking into account the sector’s heterogeneity. The advent of digitalization has opened up possibilities for increased productivity, broader customer bases, and data-informed decisions. To effectively reap the benefits, however, SMEs must overcome obstacles including price, cybersecurity, talent shortages, data privacy, and regulatory compliance. The literature study shows rising trends in digital adoption, the benefits to competitiveness and market development, and the difficulties encountered by SMEs. The promotion of digitization is mostly due to government efforts. Adoption of digital technologies, policy, and support from governments, availability of digital infrastructure, digital skills, and market performance are all factors evaluated in this research. The significance of the associations between these factors is confirmed by the data analysis, proving the validity of the framework. The study’s results stress the importance of digital adoption for SMEs and suggest that governments maintain their commitment to digital transformation. For India’s SME sector to maintain development and competitiveness, investments in digital infrastructure and digital proficiency among its employees are essential.

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Published

2023-12-21

How to Cite

(1)
Srivastava, R.; Srivastava, R. Exploring the Impact of Digital Transformation on Small and Medium-Sized Enterprises (SMEs) in India: Opportunities and Challenges. samvad 2023, 27, 89-95.

Issue

Volume 27, 2023

Section

Articles

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