The Festive Lifeline: A Crucial Period for India's Small Businesses
The India SME Forum underscores the significance of the festive season for small Indian businesses, which accounts for a substantial portion of annual sales. Sudden regulatory changes, particularly GST adjustments, could threaten their viability. E-commerce platforms have empowered these businesses, necessitating a stable regulatory environment for their sustainability.
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The India SME Forum has shed light on the pivotal role of the upcoming festive season for millions of small businesses in India, considering it a critical period that accounts for 35-40% of annual sales for most. These businesses, having adopted digital commerce through platforms such as Amazon and Flipkart, face the risk of severe impact due to sudden changes in regulations.
Vinod Kumar, President of the India SME Forum, highlighted the dangers of immediate regulatory changes during this high-stakes period, emphasizing that it could devastate sellers who've invested in festive inventory. The Forum reiterated the importance of digital marketplaces in democratizing access to broader markets, allowing smaller businesses to stand toe-to-toe with larger counterparts.
Owners like Lakshya Kwatra and Amandeep Budhiraja echo these sentiments, stressing that any disruption could have dire consequences not only on their sales but on the wider supply chain, affecting artisans and manufacturers. They call for stable regulations to preserve trust in digital marketplaces, which are vital for business growth.
(With inputs from agencies.)
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- Amazon
- Flipkart
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