In the Year ended 2018 Flipkart's revenue was approximately 27K crores and Amazon India's revenue was around 22K crores *
1) Two months ago, the government had proposed an Alibaba and Amazon-like e-commerce platform for MSMEs in the country.
2) The portal is on its way, and now we know that it would be named Bharatcraft.
3) The e-commerce portal will provide a platform for MSMEs to market and sell their products which in turn will boost the sector.
4) The MSME minister says that the project has the potential to reach around Rs 10 lakh crore revenue in the next 2-3 years. To give a context to the enormity of the target, in the financial year ending March 31, 2018, Flipkart had revenue of $3.8 billion (Rs26,925 crore) (excluding subsidiaries Myntra and Jabong), and Amazon’s revenue was $3.2 billion, according to a report by British investment bank Barclays.
5) Successful implementation of the E-commerce Portal can ramp up economic growth and employment opportunities.