MSMEs have a new champion: How fintech firms have stepped in to help solve the credit problem
Fintech firms are lending MSMEs a helping hand with their disruptive processes, using alternative data sources and advanced analytics to make credit access easier for small businesses
Print Edition: Jul 21, 2024
Fintech firms are lending MSMEs a helping hand with their disruptive processes, using alternative data sources and advanced analytics to make credit access easier for small businesses
Small is beautiful. Take India’s micro, small, and medium-sized enterprises (MSMEs) for instance. They play a crucial role in India’s economic growth, often attributed to large conglomerates and corporations. These MSMEs—currently more than 60 million—are the crucial backbone of the Indian economy, generating thousands of jobs, fostering innovation and entrepreneurship, and contributing nearly 45% to India’s exports and 30% to the gross domestic product (GDP).
