The Key to Helping Indian MSMEs Go Global

How does AI help in market expansion of MSMEs?

- RAJ PARAMESWARAN

In recent years, we’ve witnessed a radical shift in India’s business landscape, especially among MSMEs. With over 63 million MSMEs contributing to close to one-third of the nation’s GDP, these vital cogs in our economic machinery are now optimally utilising the power of AI to transcend national borders and make their mark on the global stage. In a recent whitepaper by Nasscom, titled Empowering India’s Growth – Unlocking AI’s Potential for Tech-Enabled MSMEs, 94% of the surveyed techenabled MSMEs acknowledged the ability of AI to drive business growth for them. This highlights the scope of growth that still exists for the sector to boost its technological efficacy in order to achieve unimaginable fruit.

The AI Revolution in Market Expansion

Advancements in AI are changing how Indian MSMEs view global markets. AI algorithms can identify opportunities for expansion, decode the behaviour of local customers and predict market trends more accurately by processing vast volumes of data. Through this approach based on data, the risks associated with entering new markets are significantly reduced, thereby allowing small businesses to make informed decisions about their expansion strategies.