'With GST implementation, 51mn SMEs will go digital'

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SME Times News Bureau | 16 Mar, 2017
With implementation of Goods and Services Tax (GST), India's 51 million small medium enterprises (SMEs) will take the digital route and this will significantly change the way of doing business across industries, said SAP Indian subcontinent's Marketing Head Krishnan Chatterjee said on Wednesday, in New Delhi.

"As many as 51 million SMEs will be taking the digital route with the implementation of GST. It will impact the way businesses are operating across industries and geographies," Chatterjee said at the launch of "GST in a box".

He added tat SAP India, a market leader in enterprise application software, is looking at the growth of SMEs.

"SAP India's future growth will come from SMEs. Our growth lies in the growth of the SME sector," he said.

The technology service provider has about 8,000 customers in India and out of that 80 per cent belongs to SME sector, he said.

"All of the technologies have been integrated into one construct. We have created a portal which is a online resource centre to help SMEs," added Chatterjee.

He said large enterprises have figured out GST and running up to GST, we are finding significant challenges with SMEs. These companies are struggling with how they should leverage it.

GST will be the "compelling event" which will push our country towards a uniform indirect tax code and it is going to be a trigger for growth.

He said India's economy currently at about $2.5 trillion and the country is looking at 10 trillion mark within the next dozen years. In this context SMEs have to outperform to contribute in the country's Gross Domestic Product (GDP). "We see growth as the strong underpinning factor for technology adoption," Chatterjee said.

He said the application service provider has planned for roadshows for covering 21 cities to reach out to customers.