Intel takes an SME byte

MUMBAI: Intel is tapping the growing small and medium enterprises (SME) market in India.

Intel India has collaborated with ICICI Bank, India’s largest private-sector bank, to provide easy and affordable financing option for purchasing IT solutions in small and medium businesses. It has also tied up with the Small Industries Development Bank of India (SIDBI) to cater to the growing automotive manufacturing sector by offering loans up to Rs 25 lakh.

Talking to DNA Money, John McClure, managing director (South Asia), sales & marketing, Intel Technology India, said, “The Indian SME sector is growing and it will become a huge market in the coming years, especially in tier-II cities, where technology is yet to penetrate.”

India has about 22 million SMEs, out of which only about 50% are in the top 20-odd cities. This translates into the fact that the rest of the SMEs in the country may be totally untouched by technology. The Intel collaboration and tie-up is a move to reach the space and bring the other 50% of the SME space into the fold of technology, and provide them with customised office solutions.