Bangalore/Mumbai: According to the India Digital SME Credit Report 2023, which was published today in association with Redseer Strategy Consultants and GetVantage, a possible US$ 220 billion credit shortage might be a barrier to the economic development of millions of digitally transformed enterprises.
After accounting for sick and financially unviable firms, Redseer experts predict that US$ 165 billion of the present US$ 220 billion requirement (as of FY22) is serviceable. The market received US$ 53 billion in FY22 through a variety of methods, but the working capital shortfall is still US$ 112 billion at this point. As the number of digital SMEs doubles over the next five years, the consultants forecast in the paper that the demand for loans will surpass US$ 570 billion.