Union Minister Nitin Gadkari has announced that Union Ministry of Micro, Small and Medium Enterprises (MSMEs) is planning to launch Bharatcraft portal, a desi version e-commerce marketing platform. It will be based on the lines of e-commerce behemoths such as Alibaba and Amazon.
It will provide a platform for MSMEs to market and sell their products and in turn boost the overall sector. It has the potential to achieve revenues of around Rs 10 lakh crore in the 2-3 years.
Need for the portal:
MSME sector currently contributes nearly 29% to the manufacturing segment and 40% to the exports. It has the potential to generate additional employment of 5 crores in the next five years. Union Government has set the target to increase the contribution of MSMEs in the manufacturing sector to 50% in the next five years.