Sale of MSME products: Govt plans to launch E-Portal facility

Jan 21 2021 07:46 AM
Sale of MSME products: Govt plans to launch E-Portal facility

The Central government is now working on increasing the turnover of the village industry from Rs. 80,000 crore to Rs. 5 lakh crore in two years, union minister Nitin Gadkari said.

Accordingly, the govt is working with State Bank of India to launch an E-portal on the lines of Amazon to facilitate Medium, Small and Micro Enterprises (MSME)  to sell their products. At present, Amazon.com generates a business of around Rs.70,000 crore annually for Indian MSMEs, which can be enhanced by a dedicated E-Portal to enable them complete with global brands, he said at a webinar organized by All India Association of Industries President Vijay Kalantri.

Stating that the government aims to increase the share of micro, small and medium enterprises sector in total exports from the current 48 percent to 60 percent in the coming years, Gadkari said that this would go a long way in boosting the Atmanirbhar Bharat programme of Prime Minister Narendra Modi. On similar lines, the union minister said that the government is making efforts to increase the turnover of the village industry from the current Rs.80,000 crore to Rs.5-lakh-crore in next couple of years which will create jobs in rural, agricultural and tribal segments and eradicate poverty, he added.

Pandemic fuelling social fragmentation for years: WEF Research

Global economic growth: India seen contributing 15 pc of global growth by FY26: Report

China records lowest economic growth in 45 years