India Will Launch An E-Commerce Platform Bharat Craft, Specializing In Handicrafts, Textiles And Other Products.
It is reported that the Ministry of small and micro enterprises in India (MSME) announced plans to launch an e-commerce platform similar to Amazon and Alibaba. The digital platform was named Bharat Craft, which will be used to promote products from India homespun and rural industries, Handlooms, handicrafts, textiles, leather products and other industries.
According to the India economic times, the MSME industry is considered to be the backbone of India's economy. Its contribution to manufacturing output and exports is 45% and 40% respectively, producing more than 6000 products, and is well received by the global market, and the industry employs 40% of the workforce, second only to the agricultural sector. According to the India business intelligence and Statistics Bureau (DGCIS), between 2018 and 2019, the share of MSME related products in India's total exports was 48.10%.
The WASME believes that small and micro enterprises are struggling in many ways due to the help of the government and other associations. "Three major structural problems that affect India's growth of small and medium-sized enterprises are: difficulty in obtaining credit facilities, poor quality technology and difficulty in entering the market," said its executive secretary, Sanjiv Layek. They did not find the right platform to display their products, and the lack of marketing strategy made it difficult for them to compete with large enterprises in turbulent markets.
To emphasize the need to keep the industry in line with the latest practice, the Minister of trade union MSME said that the recent meetings emphasized the need to encourage research and innovation in the industry, cooperate with foreign companies, and introduce new technologies and marketing concepts. To this end, MSME is planning a portal where people can publish new ideas, suggestions and innovations, so that all stakeholders can share their suggestions, technologies and so on.
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