Get All Access for $5/mo

Business Spending Market In India Is Expected To Reach $15 Trillion: Report The report also stated that while demonetization urged businesses to explore alternatives to physical modes of payment, the pandemic normalized it as business as usual and helped gain wider acceptance

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


A joint white paper published by EnKash, a prominent corporate cards and spending management platform, and Kearney, a consultant services provider, has said that the current business spending market in India is expected to reach at $15 trillion by the end of this decade. The report also stated that Covid-19 triggered a new digital dimension to businesses by aiding the migration from physical presence to online marketplace and also, increased adoption of digital payment methods and emergence of new age players who are enabling the transition at the micro level, and increased cross-border remittances.

"Given the thriving small and medium business landscape, it is critical that their adoption is encouraged and enabled through the technological, government enabled and regulatory interventions. We hope this paper starts a conversation towards this end, helping the industry surpass the $15 trillion estimates," said the executive summary of the whitepaper.

While acknowledging the Indian economy's sharp growth as the fifth largest economy in the world, the whitepaper stated that it was possible due to the transition into a manufacturing and services-enabled economy. It also added that while demonetization urged businesses to explore alternatives to physical modes of payment, the pandemic normalized it as business as usual and helped gain wider acceptance.

"The business spending market in India is at an inflection point with an ever-emerging need to transform age-old processes in business spends management. Through this insightful whitepaper in association with Kearney, we aim to identify the key challenges and list down potential solutions that will drive the digitization of the business spending value chain," said Hemant Vishnoi, co-founder of EnKash India, in a statement during the launch of the whitepaper.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

'Passing By Wide Margins': Elon Musk Celebrates His 'Guaranteed Win' of the Highest Pay Package in U.S. Corporate History

Musk's Tesla pay package is almost 140 times higher than the annual pay of other high-performing CEOs.

Growth Strategies

Learn business by doing business across the Globe: The next revolution in Entrepreneurship

As the startup ecosystem sees an influx of new entrepreneurs, the question arises: Is our current business education sufficiently equipping students for the entrepreneurial challenges they will face?


ChatGPT is Becoming More Human-Like. Here's How The Tool is Getting Smarter at Replicating Your Voice, Brand and Personality.

AI can be instrumental in building your brand and boosting awareness, but the right approach is critical. A custom GPT delivers tailored collateral based on your ethos, personality and unique positioning factors.

Growth Strategies

AMD Confident About Increasing Market Share In India

The semiconductor company is positive about the business environment in India on the back of growing investments in data centers and AI, Cloud repatriation, as well as technology refresh taking place across companies on both server side and client devices

News and Trends

Indigrid Technology and Hour4u Raise Early-Stage Funding

Here are the Indian startups that announced early-stage funding rounds.

Business News

You Can Now Apply to Renew Your U.S. Passport Online — But There's a Catch

The U.S. State Department officially launched the beta program this week.