MSMEs Reach Global Markets Through Online Platforms

The “Atmanirbhar Bharat” vision drawn out by the current government hugely depends on the success of the MSMEs. Supporting that, Amazon global reported that Indian MSMEs had crossed 2 billion dollars in cumulative exports under its Global Selling Programme (GSP).

GSP Crosses 2 Billion

Amazon started the GSP programme in 2015, and through this MSMEs can sell their products via 15 Amazon websites. Also, this has been a boon to many MSMEs which have suffered due to weak domestic demand. Initially, the programme had a humble beginning, but it has now grown to have almost 60,000 exporters. Recently, Mr Amit Agarwal, senior VP and country head of Amazon India, noted that the Indian MSMEs had made exports worth Rs 30,000 crore under the said initiative. Further, he emphasized the importance of MSMEs in creating inclusive growth of the country and also job creation.

Indian MSMEs Reach Global Market through Amazon Platform
Indian MSMEs Reach Global Market through Amazon Platform

On a positive note, he also stated that Amazon would continue to help Indian MSMEs reach their full potential and make export easier. Similarly, he reiterated Amazon’s pledge of digitalizing 10 million MSMEs. In the process, the goal is to create around 1 million jobs and revenue of 10 billion dollars by 2020, he said.

Gadkari to Amazon: “Help Small Businesses Sell Globally”

In Amazon’s Exports Digest 2020, the Union minister in charge of MSMEs, Mr Nitin Gadkari requested the global giant to aid small businesses in India. In his statement, he also mentions the need for revamping Indian products to fit the global demand. Further, highlights that the quality of the products was excellent. But, they needed better designing and development to cater to the international market. According to him, this would be a win-win situation as it would help increase Amazon’s turnover but also greatly help the Indian Economy.

MSMEs Set to Contribute 60% to India’s Exports

In an interview with The Economic Times, Mr Gadkari stated that MSMEs currently contributes 48% to the overall exports. He vowed that his government would increase to 60% in the next two years. Accordingly, the government has introduced various schemes to help small businesses that have a good track record.

When questioned about the current policies, he outlines the importance of supporting local products for job growth. Nonetheless, it is crucial to stay afloat in the global market, he adds. Further, he firmly believes that all the goods that were imported from China can be produced locally. Though he critiqued that prices would rise in the initial phase. Mr Gadkari was confident that they would become reasonable as productivity increases.

A good relationship between the government, MSMEs and big players like Amazon are essential for taking the economy forward. For now, the developments seem promising and favourable to the Indian MSMEs.

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