A new portal named Bharatcraft coming up!
The Government is soon going to launch this new e-commerce portal, which will be similar to Alibaba and Amazon.
So, what’s Bharatcraft going to offer?
It’s a much-needed platform to MSMEs to sell their products, facilitating both the e-commerce industry and the MSMEs together.
Speaking on the scope of this venture, Union Minister Nitin Gadkari on Thursday said that the e-commerce marketing portal has the potential to achieve revenues of around Rs. 10 lakh crore in the coming 2-3 years.
On the event of having listed its 200th MSME company, ‘Wonder Fibromats’ on NSE EMERGE, the Minister said, “We want to give a boost to the MSME sector which is currently contributing nearly 29 per cent to the manufacturing segment and 40 per cent to the exports.”
Through this platform, the Government is looking at increasing the contribution of MSMEs to manufacturing sector to 50 per cent along with boosting their contribution in exports, while enhancing additional employment opportunities of 5 crore in next 5 years. This will also help tackle the issue of delayed payments by public and government sectors.
“At a time when we have nearly 6 crore MSMEs in the country, we have only 200 listings on such a platform. There are MSMEs who have larger exposure to exports. I want such companies to come forward and use this instrument. This will boost the sector,” Gadkari said, adding that if small investors start investing in such platforms, it will open a new gateway for development.
Speaking at the event, MD and CEO of NSE, Vikram Limaye said, “NSE has always been at the forefront of strengthening and supporting small and medium enterprises. We believe the SMEs are crucial not only for economic growth, but also for employment and inclusive growth.”
The event also witnessed the migration of two SME companies Madhya Bharat Agro Products and Krishana Phoschem to the mainboard of NSE. The listed SMEs on NSE are from 16 states.
