Growing Dependence on Internet Services in India's Informal Sector

Friday, 5 July 2024, 14:44

Govt data shows a significant rise of nearly 50% in internet usage by informal sector companies for order processing and digital transactions in 2022-23. The surge correlates with the adoption of UPI payments and online commerce platforms, indicating a shift towards digitalization within small businesses. This trend emphasizes the growing importance of internet connectivity for business operations in the informal economy, reflecting an evolving landscape of technology adoption.
Moneycontrol
Growing Dependence on Internet Services in India's Informal Sector

Milestone Increase in Internet Usage

Govt data highlights a 50% surge in online activity for order placement and processing by small businesses.

Accelerated Digital Transformation

  • Adoption of UPI payments witnessed substantial growth.
  • Utilization of online commerce platforms played a crucial role.

Impact on Business Operations

  1. Digital transition in the informal sector is on the rise.
  2. Internet connectivity is becoming pivotal for business efficiency.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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