Whopping seller registrations by local MSMEs amid the COVID-19 pandemic: Flipkart

E-commerce giant Flipkart on Saturday revealed that amid COVID-19 pandemic, y h witnessed a massive surge of new registrations by local MSMEs. According to company, local sellers h begun to realise importance of a digital ecomy and how y needed to shift ir business online when selling through ir physical shops became difficult in wake of nationwide health crisis. It stated that between months of April to June, it h seen a whopping 125 per cent increase in new sellers signing up on online retail platform. 

"Local micro, small and medium enterprises (MSMEs) across nation have realised true value of e-commerce that enables m to stay connected with millions of customers," said Flipkart.

Flipkart stated that maximum new sellers that h registered mselves onto platform between se months hailed from Uttar Presh, Maharashtra, West Bengal, Delhi NCR and Tamil Nu.  categories that most of se sellers belonged to include women's clothing, personal care, food and nutrition, home improvement tools and baby-care products.

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Flipkart's Growth Capital Programme

To aid seller's tide through tough times, Flipkart has also launched a special offer on loans through Flipkart's Growth Capital Programme designed specifically to enable independence for MSMEs who operate online. Through ir program, retail giant hopes to attract more MSMEs via incentives such as credit at competitive interest rates, one-day approval rate and disbursal within 48 hours.

With three-month moratorium period that has been implemented on existing loans, sellers do t need to make immediate payments during this period. According to statement issued by Flipkart, any ditional amount on sellers' existing loans sanctioned during this period will have an extended financial limit with a six-month moratorium period. 

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(With ncy Inputs)