Good news for small businesses and especially for those businesses having MSME Registration. Flipkart is about to onboard 1.2 lakh MSME Registration new sellers. This move will have a positive impact on Economic growth as well as the development of MSMEs. MSMEs are the backbone of the country and play an important role in producing various goods and services. Thus, Flipkart is all set to carry out this venture and help MSMEs to grow on their platform. This article shall discuss the importance of MSME registration and how Flipkart to onboard 1.2 lakh MSME registration will help small businesses sell on, one of the largest e-commerce platforms, Flipkart.
What is MSME and MSME Registration?
MSME stands for Micro, Small, and Medium enterprises. The various enterprises classified under MSME Registration are as follows.
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Micro Enterprises
It is an enterprise whose investment is < INR 1 crore and annual turnover is < INR 5 crores.
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Small Enterprises
It is an enterprise whose investment is < INR 10 crore and annual turnover is < INR 50 crores.
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Medium Enterprises
It is an enterprise whose investment < INR 20 crore and annual turnover is < INR 200 crores.
If you meet the above eligibility criteria and want to avail benefits from the Central or State Government and the Banking Sector then you must get MSME Registration.
Impact of onboarding Flipkart to onboard 1.2 lakh MSME Registration.
- Flipkart states that by this December, it will onboard 1.2 lakh new sellers and medium, small and micro enterprises on its platform on priority. Consequently, the entrance of new enterprises will create both direct and indirect job opportunities. Experts estimate nearly 4 lakh new jobs will be created by this move.
- By the end of 2021, the e-tailer will have over 4.2 lakh sellers and MSMEs, up from 3.75 lakh at the moment.
- According to the organization, the majority of these new vendors and MSMEs will come from Tier 2 and Tier 3 marketplaces such as Agra, Indore, Jaipur, Panipat, Rajkot, and Surat.
Chief Corporate Affairs Officer of Flipkart Group says, on this Initiative
“This festive season, MSMEs and sellers ecosystems throughout the country have come forth even more resilient and revitalized to provide a wide array of products on our platform,” said Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group.
Every small business, MSME, female entrepreneur, artisan, weaver, or handcraft maker will be involved in the upcoming festive season. As part of our last-mile delivery program, our cooperation with Kiranas is also fastly expanding.
Thus, it seems Flipkart will be a good opportunity for many entrepreneurs and MSMEs looking to enter into an online marketplace.
Accordingly, if you’re planning to sell on an E-commerce platform, you should obtain MSME registration to get onboard on Flipkart easily.
If you want any other guidance relating to the MSME Registration & Udyam Registration please feel free to talk to our business advisors at 8881-069-069.
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