UP Govt launches E-Commerce initiative for MSMEs

A new E-Commerce portal for the benefit of micro, small, and medium enterprises (MSMEs) enterprises will be launched by the Uttar Pradesh government. It is being designed by the UP State Industrial Development Authority (UPSIDA) to link 155 industrial clusters. The idea is to provide support for over 50,000 units of manufacturing by bringing together raw material suppliers, manufacturers, and finished goods vendors. This will benefit the local companies by reducing the reliance on other outside suppliers, which in turn reduces the operating cost. Economic impact and employment opportunities This is an e-marketplace where the industries of Uttar Pradesh shall save logistics and warehousing of around ₹20,000 crores. Speaking to CEO, Mayur Maheshwari, the Chief Executive of UPSIDA, said: “It would fit into this ‘Make in UP‘ vision.’ Make in UP’ should turn Uttar Pradesh into a world manufacturing hub”. The e-marketplace would bring with it both enhanced industrial growth, as well as new employment. It is also expected to boost the state’s goods and services tax (GST) revenue by 7-10%. Strengthening local sourcing and transparencyThe e-marketplace will promote the local sourcing policy and simplify procurement processes. Through this, business transactions will gain transparency. Moreover, units engaged in packaging and marketing will be brought together, so a complete