BIGROWTEC
CONSULTING PVT LTD
“India’s #1 Peer-Powered MSME Growth Hub”
Industries
The Indian MSME sector is the "backbone of the Indian economy" and has been at the center of attention for a long time now.
The importance of
Indian MSME sector
Because this sector itself contributes more than 40% of employment, contributes to approximately 50 percent of overall exports from the country, engine to improve the living standard of the population, important role in buffering India from global economic shocks and adversities, most dynamic and vital factor of progress in contemporary society, and 30% GDP of India.
The SME sector and its strategic and technological upgradation have a very vital role in fueling the economic growth of the country focus on them more now as India aspires to be a $5-trillion economy soon. The Indian MSME sector is the key element for India to become an economic powerhouse.
This is a very exciting time for the Indian MSME sector. However, despite over 70 million micro units, 0.33 million (3,30,000) small industries, and 10000+ medium industries across the country, MSME businesses in India are yet to prove their mettle globally. Sensing this gap between opportunity & reward, the Indian Government cluster development programs (MSE-CDP) is working for micro and small enterprises to enhance productivity, competitiveness & efficiency. MSMEs have to do their bit as well. In all fairness, the majority of the Indian MSMEs have still not fully leveraged technology in their business operations. This is one critical aspect that is keeping them away from getting national and international clients. Yes, SME automation is key to the growth of India.
SMEs
in India and developed countries.
First of all, In advanced countries, SMEs can grow faster than large companies by adopting the proven technologies and practices of larger enterprises. Second, start-ups, which are a critical subsegment of SMEs, have become important sources of innovation. Because they are unhindered by legacy systems and outdated strategies, new market entrants are often able to rethink established practices and cut through traditional industry boundaries. So, they can reach internationally and compete with. But,
The experts agree that Indian MSMEs lack quality, consistency, efficiency, standardization, and pricing, and mainly do not gain access to new technology and automation. Therefore, SMEs often end up with inefficient supply chain management which leads to business losses.
Since the turn of the new millennium and the 4th industrial revolution, the business landscape in India has undergone a major change, and one of the key drivers of that change is technology- and digitization. We wait for big digitization in the Indian SME sector- and see India as a powerhouse in the world. Improving the productivity and efficiency of Indian SMEs is, therefore, a worthwhile endeavor.
At BIGrowtec
we offer a-z growth strategies, consulting, and technology services for MSMEs of the following sectors- for a smooth transition to SME 4.0.
02
The food service industry refers to any company or business essential to the preparation and distribution of food products outside of the home. The food service industry has many facets. Hotels, Restaurants, catering, fast food, QSRs, and bars are all a part of it. The Indian food service industry (FSI) is expected to grow by nine percent CAGR over FY20-25E, said Motilal Oswal Financial Services. Indian Food Services Industry: Engine for Economic Growth & Employment.
03
In today's world Logistics is considered as the backbone of an economy. Being the fastest evolving industry the Indian logistics sector is currently growing at a rate of 10.5% CAGR since 2017 and estimated to be of $250 Bn by the end of 2025. "India's last-mile delivery market is moving in a similar direction to markets like China and USA, where the penetration has reached more than 10%
04
Market Size
1,368,100 crore (US$ 194.30 billion). In 2020, the Indian tourism sector accounted for 39 million jobs, which was 8% of the total employment in the country. By 2028, Indian tourism and hospitality is expected to earn US$ 50.9 billion as visitor exports compared with US$ 28.9 billion in 2018.
06
It is the world's largest producer of milk, pulses, and spices, and has the world's largest cattle herd (buffaloes), as well as the largest area under wheat, rice and cotton. It is the second largest producer of rice, wheat, cotton, sugarcane, farmed fish, sheep & goat meat, fruit, vegetables and tea
08
The education sector in India was estimated to be worth US$ 117 billion in FY20 and is expected to reach US$ 225 billion by FY25. India has over 250 million school-going students, more than any other country. Number of colleges in India reached 42,343 in FY20. India has the largest population in the world in the age bracket of 5-24 years with 580 million people, presenting a huge opportunity in the education sector.
09
Retail is one of India’s fastest-growing industries. According to Forrester Research, India’s retail sector was valued at $883 billion in 2020, and the retail market is expected to grow to $1.3 trillion by 2024. There are approximately 12 million retail distribution outlets in the country, the majority of which are family owned.
11
India's IT industry is expected to grow at a rate of 12 to 14%. This certainly shows that information technology is a sector that will be one of the emerging markets in the days to come, as India's economy needs more hardware, software, and other IT services.
IT has now become a part of every industry whether it is education, medical, food, and hospitality, all of them are gradually getting actively involved with IT products and tools, and services. From management, and billing to medicinal records, Uber cabs, and even train tickets, hotel booking, etc are all now internet and software. In short, all industries are now on IT products and services. Anything with computing systems for any business or work or service or management is now IT. Pro-services are Audit, Accounting & TaxAnalytics, Legal Consulting, Operations Consulting, Professional Services, Strategy & Management Consulting, Technology Consulting etc
12
According to a new report, the last mile delivery market in India is expected to reach US$ 6-7 billion by 2024, following a parallel trend with markets in the US and China where the penetration has attained >10%.
According to a report by RedSeer, a Bengaluru-based market research company, last-mile delivery in India comprises retail, e-commerce, FMCG, and other categories. Among segments, FMCG represents the highest share in the market followed by e-commerce.