Digital Transformation in Chhattisgarh's Informal Economy: The Role of Fintech in Empowering Unorganized Retailers

Abstract

The informal economy in Chhattisgarh plays a pivotal role in the state's economic landscape, with unorganized retailers forming a substantial part of this sector. This research paper explores the impact of digital transformation facilitated by financial technology (FinTech) on these unorganized retailers. By examining case studies, survey data, and interviews, the paper aims to uncover how FinTech innovations are empowering these retailers, enhancing their operational efficiency, and contributing to their financial inclusion. This study explores the potential of FinTech in driving digital transformation in Chhattisgarh's informal economy, with a specific focus on empowering unorganized retailers. Despite contributing significantly to the state's economy, these retailers face various challenges, including limited access to financial services, credit, and digital payment systems. FinTech solutions have the potential to address these challenges and improve the financial inclusion, efficiency, and productivity of unorganized retailers. Through a combination of literature review, case studies, and field research, this study investigates the current state of FinTech adoption in Chhattisgarh's informal economy, identifies key challenges and opportunities, and proposes strategies for leveraging FinTech to empower unorganized retailers. The findings and recommendations of this study can inform policy and practice, contributing to the development of a more inclusive and sustainable informal economy in Chhattisgarh.