MSME Optimism Soars: Navigating Growth and Digitization
Kinara Capital's MSME Insights reveals strong optimism and growing formalization in the MSME sector, with 81% anticipating revenue growth. Despite increased GST registration, cash transactions remain high, indicating a need for digitization. The survey underscores the sector's resilience and the need for enhanced digital financial services.
Kinara Capital's latest MSME Insights report indicates robust optimism among Indian micro-small-medium enterprises (MSMEs), with 81% of surveyed business owners forecasting revenue growth within the next two years.
The comprehensive analysis highlights a trend toward formalization, as over half of the respondents are GST-registered, while also revealing a heavy reliance on cash transactions. Despite the strong growth outlook, 84.3% of MSMEs still conduct 25%-100% of their business in cash, underscoring the need for increased digitization.
Hardika Shah, Founder & CEO of Kinara Capital, emphasized the importance of digital payments to bridge the ₹30 lakh crore credit gap and boost financial transparency. The report's findings are drawn from over 9,314 MSMEs across various Indian states, shedding light on the sector's dynamic landscape.
(With inputs from agencies.)
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