New Delhi
According to a report released on Wednesday, fueled by India’s rapid digital transformation, half of small and medium enterprises (SMEs) are using cloud technology to expand their businesses. The study, conducted by Tata Tele Business Services (TTBS) and Cyber Media Research (CMR), indicates that about 58% of these SMEs consider themselves digitally mature and are leading the charge in this digital shift.
Vishal Rally, SVP of Product and Marketing at Tata Teleservices, highlighted that cloud technology offers a unique opportunity for businesses to enhance their agility, improve collaboration, and gain a significant competitive advantage while also boosting customer experiences.
The report shows that 52% of SMEs are taking advantage of the scalability and cost-effectiveness of public cloud services. Approximately 20% of SMEs have migrated over 50% of their workloads to the cloud, with 51% prioritizing cloud solutions for customer support.
Security compliance is a key reason for cloud adoption among nearly half of the SMEs, emphasizing its importance in strategic business decisions. Prabhu Ram, head of the Industry Intelligence Group at CMR, noted that Indian SMEs are quickly adopting cloud solutions for their efficiency, reliability, and adaptability, enabling them to transform their operations.
Looking ahead, the number of micro, small, and medium enterprises (MSMEs) in India is expected to rise from 6.3 crore to 7.5 crore, growing at an anticipated annual rate of 2.5%, according to IBEF.
