A car is an important asset that caters to various needs of people, whether it is for transportation, commuting purposes, as a status symbol, or easy access in case of an emergency. Many people buy cars just for the sake of enjoying the freedom and independence of owning a car.

With the advent of many players in the car selling segment, owning a car as per one’s needs is no more a herculean task. However, managing a car, maintaining it and tackling with the problems that arise out of owning one, requires lot of reading. Not every person owning a car has the knowledge and skills to maintain it. With the dearth of authentic, genuine car service stations and with the car dealers ruling the car service domain, car care has become even more challenging, resulting in loss incurred by all the stakeholders – car owners as well as the genuine, yet unrecognized car service workshops.

The Puncture Shop Dilemma

One of the most terrifying and precarious situations for anyone who drives a car is deflated tyres. Wobbling tyres are the worst nightmares for most of us, especially for the fact that the puncture shops in India are an unorganized segment. Whenever we face the situation of a breakdown due to deflated tyres or punctures, the first thought that comes to our mind is finding the nearest puncture shop. Along with that, comes the fear of being cheated by the puncture shop owner on the pricing part, depending upon the make of the vehicle.

Car owners’ lack of proper knowledge about tyres, unstructured tyre care industry and increasing demand for proper care, has led to the requirement of streamlining the industry, keeping in mind quality customer service.

Buying a Car

Buying a car could be the most confusing situation one faces unless guided by a proper, well read, genuine source. The presence of many car brands, selling cars of various price ranges to fit into the customer’s budget, has only made the experience more challenging.

Ever since the Government of India announced its plans to promote digital literacy within the country through the ‘Digital India’ campaign, both individuals and industry leaders have begun to witness an upsurge in initiatives that facilitate them to achieve the set goals. Be it the digitization of various business processes within SMEs or introduction of digital payment services, India is gradually all set to embrace the latest innovative technologies paving way to growth and success.

In recent times, it has been observed that Indian consumers have become smarter and more aware about latest market trends. They are open to try new products and services, and are the main driving force behind the immense success of the e-Commerce sector. Witnessing the same, many SMEs in the country have begun to utilize the power of technology to further upgrade their business operations and maximize their reach across a wider audience.

Going digital will certainly open more growth avenues for SMEs in India, enabling enterprises to become more cost-effective and efficient in the long run

Let us explore the various factors that are positively contributing towards the growth of Indian SMEs:

Increase in Internet User Penetration – According to latest market data, out of India’s total population, over 46 Crore individuals

had basic internet facilities in 2016, marking a 34.80 per cent increase in usage over the previous year. The increased use of internet to procure anything one desires has managed to pave the way for new businesses to explode the market scenario with their unique offerings. What’s more? Enabled by the digital push from various quarters, this development has managed to intensify over the past couple of months, and is expected to immensely benefit various Indian SMEs that have taken the digital route.

The Swift Increase in Mobile Users – As previously mentioned, the target audience of businesses across India has become more tech-savvy. With an increase in number of smartphone users, many individuals now have the liberty to choose, buy, or review various products and services with just a touch or tap of a button. According to a June 2016 report by Daze Info, the total number of mobile users in India was estimated to be over 371 million, out of which 262 million users were from urban areas, and 109 million users belonged to rural areas. Over the years, the increase in smartphone usage has significantly contributed to the growth of various small businesses, enabling them to maximize their reach to more customers.

The ‘Digital India’ Mission – Indian Government’s ‘Digital India’ mission is playing a key role in accelerating the growth of the Indian SME sector by promoting adoption of innovative technologies to improve and upgrade such businesses. Many entrepreneurs across the country have been able to augment their business reach by simply making an effort to digitize their companies, proving that such initiatives can play a vital role in paving the way to their future growth.

Automation – Automation of various business processes is playing a key role in enhancing the efficiency and productivity of SMEs to a large extent. By adopting such methods, several new ventures have been able to make their business operations more cost-effective and efficient.

Demonetization – The concept of achieving a cashless economy in India took a new leap following the Indian government’s decision to demonetize high denomination 500 and 1000 Rupee currency notes last November. Since most SMEs preferred to fulfil transactions with vendors and buyers via hard cash, the demonetization move exposed the vulnerability of cash-run businesses and strengthened the need to go digital, or lose lucrative deals. Although this sudden development posed initial challenges to both individuals and small businesses, its actual benefits were observed by many SMEs, as they started to realize the importance of going digital. Thus, in order to survive in the current economy, SMEs have chosen to upgrade their business operations via digitization, with many already witnessing steady rise in profits and better business management.

Increase in Digital Payment Services – Over the past couple of years, the rise in digital payment services has enabled many SMEs to send and/or receive payments from various sources quickly without having to worry about waiting in line for long hours. With more players entering the digital payment services space, competitive pricing in businesses is expected to surge, enabling healthy competition within this space, and further generate more revenue for such enterprises.

Apart from the above-mentioned factors that are opening new avenues for growth of Indian SMEs, there are some players that are utilizing the power of the internet to create online business platforms for SMEs to interact with each other. Such platforms are enabling sellers & buyers to interact and provide certain paid services to facilitate better placement, exposure or response that connects manufacturers, exporters, and other stakeholders to generate value from unlimited online trade opportunities and buyer enquiries. In addition, these unique marketplaces provide entrepreneurs with an easy procedure to register their companies in India, creating a database of registered businesses across the country that further fulfils the objective of ‘Digital India’.

Moreover, such online marketplaces have been able to uphold the fact that utilization of technology can help in significantly reducing the time, effort and investment required to build a successful business. Thus, it can be concluded that the move to go digital can certainly open more growth avenues for SMEs in India, enabling enterprises to become more cost-effective and efficient in the long run.