Online marketplace Flipkart has signed amemorandum of understanding with Federation of Indian Micro and Small and Medium Enterprises (FISME) and National Centre for Design and Product Development (NCDPD).
The objective of the MoU is to provide a platform for small domestic manufacturers and artisans to reach out to buyers.
Following this MoU, the portal will host products from about 50,000 SMEs. Ankit Nagori, Vice-President-Marketplace, Flipkart, said, “We believe the marketplace model is best suited for an emerging economy like India with a huge population.
“This model has seen traction in the past three years, and we want to further use this platform to enable and encourage entrepreneurship in the country.”
This partnership with FISME and NCDPD would enable 50,000 small and medium enterprises and artisans to become self-reliant, improve their living standards and scale their business manifold, he added.
Flipkart will provide MSMEs infrastructural support in data analytics, marketing and customer acquisition. The partners believe this will benefit a lot of businesses, including first-time entrepreneurs as well as a large number of women entrepreneurs.
Anil Bharadwaj, Secretary General-FISME, said the partnership would “help the MSMEs sell their products directly to buyers across the nation and create huge employment opportunities even in the ancillary industries and reduce the migration of rural population to the urban areas.”