Technology for MSMEs: Reliance Jio on Tuesday launched an integrated technology solution JioBusiness to ‘transform 50 million micro, small, and medium enterprises (MSMEs)’. Intended to bring efficiency in MSME operations and compete better with large enterprises, the solution included enterprise-grade fiber connectivity to offer voice and data services, digital solutions to help MSMEs manage and grow their business, and devices to enable digital solutions for such enterprises, according to the company. “Currently, in the absence of an integrated digital services offering and the knowhow to adopt advanced enterprise offerings, they are unable to leverage the power of digital technologies to run their businesses efficiently,” Akash Ambani, Director, Jio said in a statement. The monthly rental plan ranged from Rs 901 to Rs 10,001.
“Currently, a micro and small business spend between Rs 15,000 to Rs 20,000 per month towards connectivity, productivity and automation tools,” said Akash Ambani. He added that these solutions will be offered for less than 1/10th the cost, starting below Rs 1,000 per month. The solutions were spread across offerings related to connectivity such as unlimited fiber broadband and voice, fixed mobile convergence, and static IP; digital solutions including Microsoft365, Outlook Email, One Drive, Teams, Jio Attendance, JioOnline, JioMeet, and Microsoft Teams; and lastly device-as-a-service and special device offers from Reliance Digital under seven different tariff plans.
“With this step, I am certain that millions of micro, small and medium enterprises will propel towards prosperity and march towards creating a NEW ATMA-NIRBHAR DIGITAL INDIA,” said Akash Ambani.
Mukesh Ambani during Reliance’s 42nd annual general meeting in August 2019 had announced that the company would offer SMEs unlimited enterprise-grade voice and data services, video conferencing, security solutions, marketing, and sales solutions, etc., in partnership with Microsoft. “To run their (MSMEs) business, a bundle of connectivity, productivity and automation tools costs a micro and small business between Rs 15,000 and Rs 20,000 per month currently. For a similar service, customers abroad pay over 1,000 dollars per month.”
The market for digitising MSMEs in India is expected to grow from around $30 billion in 2019, at around 25 per cent CAGR, to around $85 billion in 2024, according to a Zinnov report. Out of the $30 billion opportunity size, only 53 per cent, that is, around $16-billion market was tapped with respect to helping MSMEs with connectivity and communication tools, discoverability of their products, enhancing productivity and technology sophistication. Moreover, from the existing number of SMEs, India would have a 105 million SME base in 2024 out of which 90 per cent of the enterprises would be ‘digitally influenced’ from the existing 70 per cent.