India’s micro, small and medium enterprises (MSMEs) will soon be marketed through a global e-commerce platform like Amazon and Alibaba. The Minister for MSMEs, Nitin Gadkari is aiming to take the small and medium enterprises onto the international arena.
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Gadkari said people from all over the world should be able to reach the micro and small entrepreneurs of the country through the platform. He said his ministry has already started working on the vision and have called for expression of interest to help set the platform up.
“The idea behind such an endeavor is to connect MSMEs, entrepreneurs, producers, manufacturers and artisans directly to the digital markets with a promise of good return. And offer MSMEs to expand their customer base, enter new product markets and rationalize their business and strategize MSMEs for success in domestic and international markets,” Gadkari said.
With domestic and foreign companies investing in ‘Make in India’ initiative, the MSMEs sector is expected to play a significant role in the emergence of the Indian economy. Experts say development of this segment is extremely critical to meet the national imperatives of financial inclusion and generation of significant levels of employment across, urban, rurban and rural areas across the country. It can also support and nurture development of new age entrepreneurs who have the potential to create globally competitive businesses from India.
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According to a report by KPMG, ‘The new wave Indian MSME – An action agenda for growth’, the Digital India Revolution provides a great opportunity to promote MSME participation in the Information, Communication and Telecommunication (ICT) sector in line with the government’s vision. “It is equally important that the MSME segment develops in all areas of agriculture, manufacturing and service sectors because each of these sectors will continue to be very relevant to the overall GDP growth as well as employment generation.”
The MSME sector will act as a catalyst to bring about a socio-economic transformation.