New Delhi, (IANS) : Software major SAP India on Tuesday signed a memorandum of understanding with the Ministry of Micro, Small and Medium Enterprises (MSME) to jointly launch Bharat ERP — a programme to empower small businesses digitally.

According to a company statement, the initiative is aimed at digitally enabling nearly 30,000 MSMEs and youth in the next three years.

“As a part of the MoU, SAP India and the Ministry of MSMEs will collaborate to enable MSMEs become future-ready by helping them focus on innovation and business profitability,” it said.

The statement added that through this programme, MSMEs will be able to access SAP’s technology to streamline and integrate key processes such as financials, sales and inventory with a single business software.

“The MSME sector contributes nearly 38 per cent to the country’s GDP and generates nearly 120 million jobs; its growth plays a pivotal role in propelling India’s economy forward,” said Deb Deep Sengupta, President and Managing Director, SAP Indian Subcontinent.

“Our objective through Bharat ERP is to make digital technologies more accessible to micro and small enterprises, in line with our aim to help businesses of all sizes grow with SAP,” he added.