Small and medium-sized businesses (SMBs) impact developing economies through job creation, credit offtake, and, perhaps most importantly, positive contributions to Gross Domestic Product (GDP). In India, SMBs contribute about 30% of the country’s GDP, which is a significant amount – after all, India is likely to reach $4T GDP by the end of fiscal year 2024-2025. But while SMBs play a crucial role in propelling India’s rapid economic growth, they continue to operate within a disorganised sector and face numerous challenges. As innovation weaves its intricate pattern across sectors, financial…
Fintechs Help Unlock Global Potential for Small Enterprises
