Key role of e-commerce in MSME | Namrta Rai | LawWiser Premium
The government has been taking several initiatives to accelerate e-commerce in India and to digitize the entire MSME ecosystem. MSMEs are encouraged to market and sell their goods and products on e-commerce websites, including on Government e-Marketplace, on which procurement of goods and services is done by the Government Ministries and Departments, Public Sector Undertakings and other apex autonomous bodies of the Central Government.
Watch now #LawWiser explainer on “Key role of E-Commerce in MSME” featuring Namrta Rai, Partner at Juris Corp sharing the insights on how ecommerce has helped msme.
Initially, when COVID started, manufacturing MSMEs, especially micro and small enterprises, were negatively impacted but e-commerce has helped them to be more economically stable and added to their growth, by breaking jurisdictional barriers, saving costs on expansion and providing a large customer base.
Some key initiatives taken by the government are:-
- “Samarth Programme” by Flipkart provides a local platform to promote local artisans, weavers and state handloom industries. The program seeks to empower skilled but deprived craftsmen, weavers and artisans to sell online through an online marketplace resulting in the development of the rural sector.
- The ‘Spotlight North East’ initiative by Amazon is designed to boost the local economy, create jobs and accelerate financial inclusion and empowerment of women and the tribal community across the North-Eastern region of India. This initiative by Amazon aims to bring together and provide online support to 50,000 weavers, artisans, a majority from tribal communities, and local small businesses.
- Paytm’s an initiative to offer collateral-free loans of up to Rs. 5 Lakh by Paytm to MSMEs, at a low-interest rate under the ‘Merchant Lending Program’ in Paytm for Business App. The entire process starts from loan application, approval to disbursal is digitized.
- Atmanirbhar Section’ by Shopclues: As part of this initiative and to help MSMEs sellers, Shopclues launched an online ‘Vocal for Local’ market platform, which includes ‘made in India’ products in various categories such as fashion, footwear, jewellery, groceries, beauty and appliances and many more.
Last but not the least,
Vedanta Limited, launched the ‘Vedanta Saathi’ programme, which aims at enabling MSMEs to grow their businesses by offering a bouquet of customized offerings and services. Such as MSMEs can avail financial assistance solutions like channel financing at attractive rates from a host of prestigious banks.
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