Digital Transformation: Catalyzing Rural Entrepreneurship in the 21st Century

Introduction

The digitization of rural entrepreneurship is rapidly gaining significance, and it has garnered attention in policies aimed at both regional and global development (World Bank, 2022). This transformation introduces a range of fresh possibilities and challenges, all of which are rooted in the local knowledge potential inherent in the paradigm of rural Social Solidarity Economy (SSE) transformation. Additionally, digitization holds the potential to significantly impact economic advancement and promote regional growth (Baranauskas & Raisiene, 2022). However, it is important to note that previous discussions have primarily focused on the challenges, with limited attention given to the potential benefits.

Digital technology may clearly provide economic value, but in order to fully realise its potential for creating value, it's also critical to identify and take advantage of the opportunities it presents (Kreuzer et al., 2022). Therefore, our study's main goal was to find out how, in the particular context of India, technological digitalization is affecting rural entrepreneurship.

The Sustainable Development Goals (SDGs) are both challenging and advanced by the digitalization and technological transformation of entrepreneurship. Scholars and organisations have given this dual impact a great deal of attention (Qureshi & Woo, 2022; World Bank, 2022).

On the one hand, through encouraging innovation, improving access to resources and information, and generating new economic opportunities, digitalization has the potential to greatly accelerate progress towards the SDGs. But it's important to understand that the same digital revolution might also make economic inequality worse, which can make it difficult to accomplish these same objectives i.e. SDGs. Digitalization can exacerbate economic inequality by creating a digital divide. When some populations have limited access to digital technologies, skills, or resources, they may miss out on the economic opportunities and benefits that digitalization can offer. This inequality can make it challenging to achieve the goal of reducing inequality within and among countries (SDG 10-Reduced Inequality).

Issues related to data privacy, cybersecurity, and digital surveillance can undermine trust in digital systems and infringe on personal freedoms. This erosion of trust can hinder progress toward building strong and inclusive institutions (SDG 16-Peace, Justice, and Strong Institutions) that ensure equal access to justice and protection of human rights. The digital revolution, while offering efficiency gains, can also contribute to increased energy consumption and electronic waste, which may contradict efforts to combat climate change (SDG 13-Climate Action). Managing the environmental impact of digitalization is essential for aligning it with the goal of environmental sustainability. In summary, the difficulties in accomplishing the SDGs arise from the negative consequences associated with digitalization, such as economic inequality, privacy concerns, and environmental impact. To overcome these challenges, it is crucial to implement policies and practices that address these issues while harnessing the positive aspects of digitalization to accelerate progress toward the SDGs.

Concerns about the possible effects of digitalization, such as the possibility of rising unemployment and income inequality, are becoming more prevalent in industrialised nations like the US (Yusuf, 2021). Furthermore, despite their tremendous advancements in technology, developing nations like China and India are seeing a concurrent rise in inequality (Qureshi, 2019). The digital divide is widened by these discrepancies being further compounded by unequal access to high-speed internet, especially among low-income households (Chiou & Tucker, 2020).