India, June 3 -- Indian small businesses have made remarkable strides in their digital evolution. More than 63 million small and medium businesses are operating in India, and many of them now sell online through digital marketplaces. This has seen exponential growth in the last decade. These platforms made it easy, unlocking access to logistics, payments, and demand.

However, they also created a dependency: businesses can sell, but not really build a brand or grow. As competition intensifies and margins tighten, those limitations are becoming critical. However, a closer examination of their current position reveals a more complex landscape.

While marketplaces offer undeniable advantages in reach, they fundamentally limit control. Market...