Digitisation helps significantly in ease of doing business for MSMEs: Survey

According to an extensive survey of more than 5,000 MSMEs, conducted by PHD Research Bureau of PHD Chamber of Commerce and Industry for Ease of Doing Business (EODB) for MSMEs, the overall EODB for MSMEs has been observe at 64 on the scale of 100, of which EODB for manufacturing MSMEs is at 67 and service MSMEs is at 61.

The Industry Body PHD Chamber of Commerce and Industry, in collaboration with the Department of Commerce, Delhi School of Economics (DSE), Delhi University, has conducted a survey study on 'Ease of Doing Business for MSMEs in India: Percolating EODB Reforms at Factory Level'.

The Study is based on a pan India stratified random sample survey of MSMEs from manufacturing and services sectors, through a structured questionnaire on 25 parameters of ease of doing business.

Sumita Dawra, Additional Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, released the survey report on Thursday.

The survey reveals that the adoption of digitisation has been the top scoring parameter for ease of doing business for manufacturing MSMEs, followed by availability of information on business procedures & compliances, adequate power supply availability, process of tax registration and tax compliances and availability of Infrastructure (internet, telecom and other utilities), said Pradeep Multani, President, PHD Chamber of Commerce and Industry.

The top scoring parameters for ease of doing business for services sector MSMEs include availability of information on business procedures & compliances, processes and procedures for starting a business, regulatory environment, dissolution of business and adoption of digitization.

Whereas, the low scoring parameters for ease of doing business for manufacturing MSMEs came out to be the Government support for marketing, reduction in time taken to obtain credit and reduction in cost of power. (ANI)