As India gears up for unlock 2.0 and after the resumption of online deliveries, beyond essentials, e-commerce platform Flipkart has seen 90% of sellers return to the platform along with a 125% increase in new seller sign-ups during April- June.
“The impact of pandemic has urged businesses across the country to re-think their usual mode of operating and identify newer ways to function. Local MSMEs across the country have realised truth value of e-commerce that permits them to mention connected with many customers,” Flipkart said during a statement.
Local MSMEs from Uttar Pradesh, Delhi, Maharashtra, Tamil Nadu and West Bengal operating in various categories ranging from women’s clothing, food and nutrition, personal care, and baby care products have shown interest in taking their businesses online.
“Since April 2020, Flipkart has enabled more than 90% of its sellers to resume business on the platform. The sellers are ready to leverage the advantages of this wide access with an efficient, transparent, and truly democratic functioning of their marketplace business.
Flipkart has introduced an insurance plan, to help MSMEs and sellers through this pandemic specific to COVID -19, to hide the sellers alongside their families and employees, at a special rate with coverage ranging between Rs 50000 to Rs 3 lakh per individual with annual premiums starting at Rs 369.
It also ran a special offer on loans through Flipkart’s Growth Capital program to deal with the sellers’ need for capital.
“As a homegrown platform, Flipkart features a huge emphasis on enabling the local MSME industry of the country, by making them more digital and reworking their work trip,” Flipkart said. It allows MSMEs, artisans and smaller traders in India to bring greater efficiencies in their operations with a robust market reach. E-commerce is further empowering these businesses to get livelihood opportunities
The transacting sellers can avail credit at competitive interest rates with an approval time of one day and disbursal within 48 hours. As informed by the company a 3-month moratorium period has been implemented on existing loans.
Also, an additional amount on sellers’ existing loans sanctioned during this period will have an extended financial limit with a 6-month moratorium period.