Blending of Information & Communication Technology with the International Business Techniques of Small and Medium Enterprises in India

Abstract:     
Small and Medium Enterprises all over the world have been recognized as the silent drivers of a nation's economy. This Sector occupies an important place in Indian Economy, especially in terms of creation of employment opportunities that provide a source of living to millions of people and their regional dispersal. There has been a rapid growth in electronic commerce worldwide. In a world where the Internet and good communications had helped in accelerating the globalization process and providing a competitive advantage to the organizations and countries. Information and communications technology has a key role to play in driving innovation and competitiveness for small and medium enterprises all over the world. Information Technology can help reduce the costs of the products, enable more efficient development processes and bring products to market more quickly and efficiently than the traditional ways. In today's business world, equipping the labor force with the right skills and providing them access to high-tech infrastructure are essential if the full potential of ICT is to be harnessed for SMEs. The major barriers to optimal use of IT are limitations to broadband roll-out in member states and a workforce in need of training on how to embrace emerging technologies. This paper makes a modest attempt to examine the challenges, constraints, opportunities and strategies for adoption of Information Technology for competency development, technological upgradation, quality improvement and relationship of strategies with overall performance for Small and Medium Enterprises in the context of growing economy. The data for this study has been acquired from an extensive survey of Small and Medium Enterprises in the National Capital Region of Delhi and from the experienced bankers and Officials/Policy Makers of Government of India.

Number of Pages in PDF File: 20

Keywords: globalization, industrial units, technological upgradation, strategies, constraints, performance

working papers series