India to launch ecommerce platform for MSMEs

Monday 23 September 2019 13:42 CET | News

India’s Ministry of Micro, Small and Medium Enterprises (MSME) has announced its plans to launch an ecommerce platform on the lines of Amazon and Alibaba.

The digital platform, to be called Bharat Craft, will be used to promote goods from Khadi and Village Industries, handloom and handicrafts, textiles, leather goods and other sectors.

According to the Economic Times of India, contributing 45% to manufacturing output and 40% of exports, the MSMEs sector employs around 120 million people. This sector is regarded as the backbone of the Indian economy, churning out over 6000 products, which are sought after across the global marketplaces. It employs 40% of the countrys workforce, next only to the agricultural sector.

According to Directorate General of Commercial Intelligence and Statistics (DGCIS), the share of MSMEs related products in total export from India during 2018-19 stood at 48.10%.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: India, ecommerce platform, eocmmerce, MSMEs, Alibaba, Amazon
Countries: World