Small businesses and traders play a vital role in the Indian economy. The 5.77 crore small businesses and traders account for 45 percent of India’s GDP and currently employ 46 crore people, far ahead of any other sector in the economy with an annual turnover of approximately Rs. 39 lakh crore. You are the heart and soul of India – the digital transformation and less-cash vision cannot be achieved without you.
Electronic payments create opportunities. They increase consumer buying power which, in turn, increases sales. They give merchants access to new customers and markets. They bring new consumers into the economy and they make government services better and more efficient. Most importantly, electronic payments drive profitability, economic growth and opportunity. Because of this CAIT has entered into a strategic partnership with MasterCard which has the technology and leading innovation to make that opportunity a reality for each of you. Working together we can change India and make an impact on the world as an example of the possibilities and potential for economic transformation through the “Less-Cash,” “World Without Cash” vision that we share.
Through this partnership and MasterCard’s commitment to CAIT, we are working together to unleash the true power and potential of India’s merchants and traders for the good of India.