SAP India, a market leader in enterprise application software, is looking at the growth of small medium enterprises (SMEs) particularly in the Goods and Services Tax (GST) regime for its future growth, a company official said on Wednesday.
"SAP India's future growth will come from SMEs. Our growth lies in the growth of the SME sector," SAP Indian subcontinent's Marketing Head Krishnan Chatterjee told reporters here.
The technology service provider has about 8,000 customers in India and out of that 80 per cent belongs to SME sector, he said.
"As many as 51 million SMEs will be taking the digital route with the implementation of GST. It will impact the way businesses are operating across industries and geographies, he said at the launch of "GST in a box".
"All of the technologies have been integrated into one construct. We have created a portal which is a online resource centre to help SMEs," added Chatterjee.
He said large enterprises have figured out GST and running up to GST, we are finding significant challenges with SMEs. These companies are struggling with how they should leverage it.
GST will be the "compelling event" which will push our country towards a uniform indirect tax code and it is going to be a trigger for growth.
He said India's economy currently at about $2.5 trillion and the country is looking at 10 trillion mark within the next dozen years. In this context SMEs have to outperform to contribute in the country's Gross Domestic Product (GDP). "We see growth as the strong underpinning factor for technology adoption," Chatterjee said.
He said the application service provider has planned for roadshows for covering 21 cities to reach out to customers.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)