Union Minister Nitin Gadkari has announced that Union Ministry of Micro, Small and Medium Enterprises (MSMEs) will be launching an indigenous version of e-commerce marketing platform called 'Bharatcraft portal'.
Bharatcraft portal will be designed on the lines of e-commerce giants such as Alibaba and Amazon.
Bharatcraft portal will aim to provide a platform for MSMEs to market and sell their products and in turn boost the overall sector.
Bharatcraft portal will have the potential to achieve revenues of around Rs 10 lakh crore in the 2-3 years.
At present, the MSME sector in India contributes nearly 29% to the manufacturing segment and 40% to the exports. It has the potential to generate additional employment of 5 crores in the next five years.
Modi 2.0 Government has set a target to increase the contribution of MSMEs in the manufacturing sector to 50% in the next five years.