India has one of the world’s largest digital economies supported by 500 million users
. The country is preparing itself to become a USD 1-trillion digital economy by 2025
. Are small and medium businesses capitalizing on the opportunities? Market data shows otherwise.
Even though India has a 63-million strong Micro, Small, and Medium Enterprises (MSME) sector, unfortunately only 32%
 are digitally connected today. However, the e-commerce sector is estimated to reach USD 30 billion in value by 2030
. So, the scope for small and medium businesses (SMBs) to benefit from online business remains very high but largely unexplored.
That said the COVID-19 pandemic has changed the world, as we know it. Therefore, the need of the hour in the new normal is that SMBs must also focus on digital channels. The good news is, as the economy takes baby steps towards revival, India’s retail spending has recovered to 90%
 from the pre-COVID level. This could be one of the best times to take your retail businesses online.