Flipkart to help this state’s small businesses, artisans sell online; to offer incubation, training, more

Flipkart leads Q4FY21 international net sales for Walmart

The CEO said that although the penetration of e-commerce in the country is low, it is growing rapidly. “We are well positioned to grow as an emerging middle class spends more money through mobile phones. In India, our momentum and potential for growth make this a unique opportunity.”

Technology for MSMEs: Tamil Nadu had recently announced its MSME Policy 2021 and set a target to attract new investments worth Rs 2 trillion in the MSME sector by 2025 along with additional employment opportunities for 2 million people.

Flipkart will offer market access training and support to small businesses under the initiative.

Technology for MSMEs: Walmart-owned Flipkart has expanded its Samarth programme to small businesses and artisans based in Tamil Nadu. The e-commerce company on Thursday announced a Memorandum of Understanding (MoU) signed with the state’s MSME Trade and Investment Promotion Bureau (MTIPB) to onboard local artisans, weavers, craftsmen, and small businesses of the state onto its marketplace. MTIPB will support Flipkart Group’s engagement with state-owned/affiliated enterprises and undertakings such as Tamil Nadu COIR Cooperative Marketing Federation, tea co-operative federation Indcoserve, co-operative society for sago and starch manufacturers Sagoserve, Industrial Co-operative Societies, etc., that work with local artisans, weavers, crafts producers, and farmers. Flipkart will offer market access training and support to small businesses under the initiative.

“There are 294 Industrial Cooperative Societies functioning under the department. Many of them are involved in the production of handicraft items including GI registered products. This MoU will provide these societies with a new vigour and link them to a national market for their products,” said Anu George, IAS, Industries Commissioner and Director of Industries & Commerce, Govt. of Tamil Nadu in a statement. The state government had recently announced its MSME Policy 2021 and has set a target to attract new investments worth Rs 2 trillion in the sector by 2025 and create additional employment opportunities for 2 million people.

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Small business lender U GRO Capital expands to unorganised micro businesses; to lend up to Rs 15 lakh

Credit and Finance for MSMEs: U GRO also announced the expansion of its distribution network by adding 25 branches across Karnataka, Tamil Nadu, Gujarat, Telangana, and Rajasthan.

“The program seeks to break entry barriers for local artisans & weavers by extending incubation support, which includes benefits in the form of seamless onboarding, cataloging, marketing, account management, business insights, and warehousing support,” said Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group. Flipkart Samarth programme was launched in 2019 and is now able to support the livelihood of more than 7.5 lakh artisans, weavers, and craftsmen in India, Flipkart said. The company had entered into similar partnerships with different state governments and government organisations including Uttar Pradesh, Jharkhand, Punjab, Gujarat, etc., under its Samarth initiative.

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Two-wheeler rental startup Vogo raises funding from existing investors; eyes profitability by year-end

Launched in 2016 by the alumni of IITs and IIMs – Anand Ayyadurai, Padmanabhan Balakrishnan, and Sanchit Mittal, Vogo caters to personal mobility solutions to daily commuters.