Digital India Spurs Revenue Growth of IT MSMEs
As per the findings of the global analytical company, CRISIL, the small and medium enterprises operating in the country’s IT and ITeS space have garnered significant growth with Government of India’s ambitious initiatives like Digital India.
The initiative includes offering the last mile broadband connectivity to citizens and creation of a digitally empowered society.
The analytics firm has highlighted that in its analysis of 128 IT MSMEs, the companies registered a Compound Annual Growth Rate (CAGR) of 23 per cent in their revenue for the years 2012-13 and 2013-2014, inflating their total sales from INR 14.89 crore to INR 22.42 crore.
As per CRISIL these organizations will further witness an improved growth with Digital India initiative, as it will empower citizens via reinforcing public IT infrastructure, strengthening governance etc.
Utilization of open source platform and availability of low cost human resources is another factor which will work in favor of these MSMEs in competing with larger established firms in the fields of mobility, analytics and cloud applications.
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