Flipkart, one of the biggest e-commerce companies in India, based out of Bengaluru, is all set to bring 50,000 MSMEs (medium and micra, small and medium enterprises) onto its platform by the end of 2019.
The step taken by the Walmart-owned company to foster the MSMEs will enable it to source the maximum number of product categories locally, cut down logistics cost and aids in faster delivery of orders.
The development will also support Flipkart to expand their presence in Tier-III cities and small towns.
“Our knowledge and understanding of the Indian ecosystem allow us to construct frameworks such as ‘Growth Capital’ through which sellers can scale their businesses, prosper, create more employment opportunities, and continue to transform the country’s economy,” said Kalyan Krishnamurthy, group CEO at Flipkart.
Flipkart, owned by Walmart, is based out of Bengaluru, founded by Sachin Bansal and Binny Bansal together in 2007. The company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.
Flipkart claims to have around 100,000 MSME sellers on their platform already. In a non-festive month, the company sells over 20 million product units of which a significant 70 per cent come from these small sellers.
“Our aim is to ensure that India’s internet economy becomes a hub for innovation and as a home-grown company. We want to solve unique Indian problems through technology. We are committed to making it happen through our initiatives focused on MSMEs, agriculture, Make in India, skilling, and building partnership with kiranas,” said Rajneesh Kumar, chief corporate affairs officer for Flipkart Group.
The company expects the new move to generate at least a million secondary jobs to support the necessary logistics to be set in place for rapid growth.
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