How MSMEs are spearheading the digitisation of energy space
MSMEs will expand their presence across various sectors, producing a wide range of products consumed by millions regularly.
Today, MSMEs play a pivotal role by contributing approximately 30% to India’s GDP, as reported by the MSME Ministry’s FY23 annual report. The progressive ecosystem of India and the availability of required resources have enabled MSMEs to deploy cutting-edge technologies to transform the energy space. From how energy is extracted, managed, and consumed to how it is sold, MSME startups are playing a critical role in digitising and revolutionising the customer journey. Whether it's a smart fuelling station in Mumbai or an AI-driven oil rig in Gujarat, MSMEs are spearheading a digital transformation that promises to redefine the country’s energy future and drive sustainability in the Indian economy.
The need for digitisation in energy
India's energy sector faces several challenges, and the biggest challenge among them is the lack of monitoring and measurement systems. With digitisation, we can unlock multiple opportunities, such as promoting data-driven decision-making, enhanced forecasts and predictive maintenance, reduction in duplicate work, gauging market demand, improving fuel distribution networks, and understanding price fluctuations.
In a sector as crucial as energy, MSMEs are quietly emerging as the spark plugs of digital transformation. Let’s find out how:
Enhancing decision-making at oil rigs
Identifying, transmitting, extracting, and refining oil and gas can be incredibly complex,
