MSME: Good news for small businesses .. e-commerce portal in line with Amazon and Alibaba
The Central Government has announced an e-commerce portal called BharatCraft in mid-2019. It has been in similar work ever since. Nitin Gadkari clarified that they are going to create an e-portal like Alibaba to support the marketing of MSMEs.
The Center has good news for micro, small and medium enterprises (MSMEs). As part of the facilitation trade, the ministry introduced a new policy. State Bank of India (SBI) will launch an e-commerce portal for MSMEs. This portal helps them to market and sell their products in India. It also has the same MSAE platform internationally as Amazon and Alibaba. Union Minister Nitin Gadkari made the announcement at a webinar organized by the All India Association of Industries.
The Central Government has announced an e-commerce portal called BharatCraft in mid-2019. It has been in similar work ever since. Nitin Gadkari clarified that they are going to create an e-portal like Alibaba to support the marketing of MSMEs. "This is a direct gateway to take MSME products to the global market, so we are working with the State Bank of India," he said. Dheema expressed that they will prepare it themselves as soon as possible.
The government currently has a business-to-business government marketplace to assist in selling MSMEs to government agencies and departments. Is preparing plans to buy from MSMEs for private businesses. With the launch of the state-owned B2C marketplace where MSMEs can sell directly to consumers, it will compete with other private executives, including Phil Cart, Amazon India and Snapdeal. Gadkari said he expects to see a turnover of Rs 10 lakh crore on the platform soon, which will benefit MSMEs on a large scale. MSME is ranked 200th according to the National Stock Exchange Emerge Platform 2019.
The Indian e-commerce market is projected to grow from $ 50 billion in 2018 to $ 84 billion in 2021. It is projected to grow to $ 188 billion by 2025. Byne & Company, Flipkart reports that it will have 300-150 million online shoppers in India from 100-110 million by 2020 to 2025. The e-retail market led by Amazon, Flipkart, Snapdeal, etc. leads to a CAGR of about 30% of the gross value. It will increase from $ 30 billion in fiscal year 2020 to $ 100 billion by 2025.
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