The invoice discounting, factoring, and supply chain financing is a big market globally reaching over US$3tn. The estimation of this market in the coming four-seven years is likely to be worth around US$6-9tn, according to multiple studies. But where does the Indian market stand? It size is around US$6bn or 0.2 per cent of the country’s gross domestic product (GDP), according to a report by the Standing Committee on Finance. In fact, the factoring credit has only a 2.6 per cent share in the overall formal credit to India’s micro, small and medium enterprises (MSMEs).