India plans to launch Bharatcraft portal, its own version of Alibaba, Amazon

Union transport minister Nitin Gadkari. HT

Modi government is planning a big pre-Diwali gift for the MSME sector. Taking inspiration from e-commerce behemoths like Alibaba and Amazon, the Modi government is planning to launch its own desi version of an e-commerce portal. The government has named the portal Bharatcraft, which will provide a platform for MSMEs to markets and sell their products.

Union minister for MSMEs, Nitin Gadkari on Thursday announced the govt’s ambitious plan to launch Bharatcraft portal while speaking at 200th listing of an MSME company ‘Wonder Fibromats’ on NSE EMERGE.

Gadkari also added that the Bharatcraft portal has a huge potential to generate revenue worth 10 lakh crore in next 2-3 years.

“The Bharatcraft portal, which will be on the lines of Alibaba and Amazon, will provide a platform for MSMEs to market and sell their products and in turn boost the sector,” Gadkari said.

“We want to give a boost to the MSME sector which is currently contributing nearly 29 per cent to the manufacturing segment and 40 per cent to the exports,” Gadkari said.

Gadkari further said that payments have always been the issue for the MSMEs as the Government and public sectors delay their payments.

“A committee has been set up to study this aspect and we expect the report in the next few days. The government is planning to enable legislation framework, which would help the MSME sector get their payments faster, within 45 days of the bills being due. Any further delay in payments would lead to legal implications,” the minister said.

The article was first reported on livemint.com   

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.