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Amazon to help 2.6 million MSMEs in Telangana go online

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Info-tech

K V Kurmanath | Hyderabad, May 9 | Updated on: May 09, 2022

Signs MoU with FTCCI to equip small firms with technology skills to digitise businesses

About 2.6 million micro, small and medium enterprises (MSMEs) in Telangana will go online soon. Global e-commerce major Amazon will help these MSMEs expand their reach and tap the latent potential unrealised so far.

It will work with the Federation of Telangana Chambers of Commerce and Industry (FTCCI) to help the MSMEs equip themselves with technologies to offer e-commerce services. The two entities will handhold the MSMEs to digitise their operations and establish an online marketing network.

In the first phase, they will train over 500 SMEs through this initiative. They will open skill development centres in various districts. Amazon and FTCCI have signed a memorandum of understanding to roll out the digitisation of the MSMES in Telangana.

E-commerce, a game-changer

“E-commerce has proven to be a game-changer, especially for MSMEs. The size of the e-commerce opportunity is expected to grow to $200 billion by 2026 from $ 38.5 billion in 2017,” a FTCCI executive said. “During the Covid-19 pandemic in 2020, when the first lockdown was imposed, MSMEs were the worst hit. In the second wave too, MSMEs had borne the brunt of successive lockdowns and public hesitancy to move freely,” he said.

“There, however, are a few exceptions. They have not just survived the two waves, but thrived during the pandemic as they quickly adopted digital tools and leveraged technology,” he said.

“E-commerce played a major role in streamlining business processes right from receiving a product order to managing deliveries, keeping a track of stock and even analysing consumer feedback and data,” Jayesh Ranjan, who was present at the MoU-signing event, said.

He felt that it was a good move to on-board the MSMEs, which contributed 30 per cent to the Gross Domestic Product and 40 per cent of the exports, onto the e-commerce platform.

“MSMEs could survive the shocks with technology and digitisation of their processes, inventory management and interface with markets, either directly or via the e-commerce eco-system,” K Bhasker Reddy, President of FTCCI, said.

Published on May 09, 2022

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