On World MSME Day, we celebrate the unwavering determination of Micro, Small, and Medium Enterprises (MSMEs) and their indispensable contribution to fuelling India. The MSME sector is steadily embracing digital means of conducting business. NeoGrowth‘s latest study on ‘Decoding Digital Payments – A Retailer Perspective’ revealed that 70% MSMEs believe UPI will be the driver of retail sales. This shift towards digital payments has become a game-changer, revolutionizing the landscape, and creating tremendous opportunities for digital lenders to serve the credit needs of India’s 6.3 Crore MSMEs. 

As we move forward, 2023 will be a crucial year for these enterprises on their journey toward India’s vision of a $5 Trillion economy. Access to a robust digital ecosystem will catalyze MSME lending, unlocking unprecedented growth and prosperity for both digital lenders and MSMEs. At NeoGrowth, we are proud to empower MSMEs through data and innovative technologies at the same time by nurturing their entrepreneurial mindset and fostering resilience – all integral elements in forging an inclusive, prosperous, and transformative future for them.