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Last updated: 09 Nov, 2021  

Internet banking generic THMB Internet-driven marketplace

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SME Times News Bureau | 09 Nov, 2021

The total number of Internet users in India has risen to 825.30 million at the end of March 2021, from 795.18 million at the end of December 2020, according to a recent report. Among them, the number of wired Internet users is 26 million and that of wireless subscribers is 799.31 million. These numbers are increasing every day, and as far as the number of active internet users is concerned, it stands at 718.74 million as of 2020, comprising 54.29% of the population.

The above figures, while encouraging, also indicate the increasing importance of Internet as a channel of commerce. Globally also, the Internet user-base is expanding at a rapid pace, and with this, Internet presence has become imperative not only for domestic traders and suppliers but also for exporters and importers dealing in international trade. In today’s world, we can’t help but admit the fact that Internet is changing the fundamental way of doing business.

Several researches conducted from time to time show that small and medium enterprises that use a wide range of Internet tools to market, sell, and support customers witness comparatively more revenue growth. Also, such SMEs usually have larger national and international customer base. These findings are not surprising at all, and with the ever expanding Internet user-base, it is high time for every small business to actively be part of the Internet revolution.

With the availability of Internet to a large part of the population, SMEs today need to revamp their models for efficiently reaching out to customers. It has become essential for them to adopt specific trends, including web-presence and digitisation. They need to learn how to use social media platforms, CRM, B2B marketplace, and so on. We all must rise to the challenge of a new Internet driven-marketplace if we want to survive and compete.

I invite your opinions.

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