SME Times is powered by   
Search News
Just in:   • Sensex sheds 382 point over profit booking, crude oil prices  • Weak rupee benefited Infosys in Q2: CFO  • JSW Energy's Himachal hydro plants unaffected by recent heavy rains  • Investment cycle rising since 2016, to last till 2022: RBI  • Centre working to achieve zero hunger by 2030: Minister 
Last updated: 16 Mar, 2017  

Data.Error.9.Thmb.jpg 'With GST implementation, 51mn SMEs will go digital'

india-industry
   Top Stories
» Investment cycle rising since 2016, to last till 2022: RBI
» Workshop on health of GeM organized
» Rupee slide not helping exports sector: Drip Capital CEO
» Naidu leaves for Belgium to attend 51-nation ASEM summit
» 45 Indian cos taking part in Expo Cihac in Mexico
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.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 17 Oct, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(8)
» Letter of Credit - a safe and secure payment mode?(1)
» Punjab to give unique number to plots of land to prevent frauds(1)
» Ashok Leyland to launch 13-seater passenger vehicle, LCV(1)
» Nearly 80 pc of Indian startups are unsuccessful: Survey(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter