Pictured: Laura Lane, EVP and Chief Corporate Affairs & Sustainability Officer, UPS, at Shakti National Convention 2023 in New Delhi, India.
A new small business survey from UPS found that small businesses in India have been steadily growing in the past two years. What’s driving this growth? Exports. By 2022, 31% of small businesses and 46% of medium-sized businesses exported to three or more markets. That's up from single-digit growth in 2020.
The survey also shows growth for women-led businesses. In 2022, 74% of women-led firms saw positive revenue growth, up considerably from 51% in 2020.
Removing barriers: While there are plenty of reasons to be optimistic about the resiliency of small businesses in India, there are barriers that make it hard to grow. Nearly half of the surveyed SMB exporters cited the quality of internet connections, duplication processes when shipping, and compliance with digital regulations as barriers.
UPS understands the needs and unique challenges of SMBs. In addition to advocating for trade policies that empower small businesses, we’re designing service solutions and training that help them succeed.
There’s no shortage of opportunity in India, and UPS is investing to help customers grow and connect with the rest of the world:
- A year ago, we started a joint venture with India’s InterGlobe Enterprises called MOVIN. The new logistics brand serves the needs of the fast-paced Indian market, offering a seamless integration across air and ground networks that help SMBs thrive.
- UPS expanded flight operations to Kempegowda International Airport, Bengaluru, opening more trade opportunities for SMBs. Combined with our largest facility in India at Delhi airport, we doubled our export and import handling capacity.
- We’re investing $15-20 million to expand our network of UPS technology centres to India. To staff three new centres, we expect to hire around 1,000 employees by the end of 2025. The first centre will open in Chennai.