The government will soon launch its e-commerce platform Bharat Craft. This is expected to kick-start growth for small businesses. This e-commerce site for Indian MSMEs is intended to facilitate huge growth for small businesses as they will be opened up to a new customer base online. MSMEs cover a range of industries such as handloom textiles, craft items, and jewellery. The portal will provide a direct interface between buyers and sellers. In the next 2-3 years it will bring a turnover of about Rs 10 lakh crore to the MSME sector.
The platform will also help to increase the MSME sector’s turnover from 29 per cent of India’s GDP at present to around 50 per cent in the next five years. The Union Government is pushing the MSME sector as the catalyst for India’s next round of economic growth. It expects the MSME sector’s current 11 crore-strong workforce to increase to 15 crore in the next five years as well.