Almost 60% of MSMEs plan to digitise their business processes by 2025: Vi

Almost 60 per cent of MSMEs plan to digitise their business processes, and 43 per cent plan to increase their digitalisation budget by 2025, according to a study by Vi Business, the enterprise arm of Vi (Vodafone Idea).

Medium, Small, and Micro Enterprises (MSMEs) are the backbone of India's economy, currently contributing nearly 30 per cent to the country's GDP, the report said.

There are several studies that suggest MSMEs will boost their GDP contribution to 35-40 per cent by 2027.

Hence, MSMEs must adopt digital transformation to unleash their growth potential and play a pivotal role in making India a Viksit Bharat (a developed economy) by 2047, it said.

The 'Vi Business ReadyForNext MSME Growth Insights Study' drew insights from 1.6 lakh respondents across 16 industries.

"In FY 2025, MSMEs are looking to prioritise digitalising business processes (59 per cent) over workspace optimisation (29 per cent), and customer engagement (12 per cent), indicating need for future-proofing