IAMAI, govt join hands to create 10M digitally-enabled micro-enterprises by 2024

Internet and Mobile Association of India (IAMAI) plans to work closely with the Government of India to create 10 million digitally-enabled micro-entrepreneurs by 2024.

IAMAI recently released a report tracing the micro-entrepreneurship ecosystem in India, providing a framework of policies, suggestions, and action points, which can be used to achieve the same under the DReaM or Digital Resilience and Maturity Programme.

According to India Brand Equity Foundation, India is home to about 6.3 crores of micro, small and medium enterprises (MSMEs). Of these, more than 90 percent belong to the micro-enterprises category.

The report highlighted that more than 50 million micro-entrepreneurs are individuals or Own Account Enterprises (OAEs,) which employ over 65 million people, forming a major portion of the informal sector in India.

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While launching the report, Rajeev Chandrasekhar, Union Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship, said,

“In the last 75 years, a large number of those years have been wasted on account of misguided socialism, misguided sense of central planning that put true energy of India back. The growth model totally dependent upon a few families, groups, rather than the combined energy of millions of young Indians."

He added, "Entrepreneurship has been deeply ingrained in the DNA of India. So, the economic model we are building is a combination of thousands of millions of Indians.”

The report also revealed that micro-entrepreneurs showed resilience to the negative impact caused by the COVID-19 pandemic, including lockdowns, restrictions, supply chain disruptions, and more, as compared to others.