Indian SMEs in big digital shift in pandemic times: CRISIL
The year 2020 has ushered in drastic changes in every aspect of life as we used to know it. Popularly labelled as the “Year of the Pandemic”, the world reeled under shock as normal life came to a complete halt and people were compelled to stay within the confines of their own homes. All business sectors including textiles initially suffered large losses as both retail and wholesale market places were shut down completely for the larger part of the year. However, necessity is the mother of invention and SMEs, which were earlier restricted to local market areas decided to jump on the digital bandwagon to keep up with the changing times. This has led to a revolution in retail and distribution alike as Indian markets have now gone digital as part of the “New Normal”.