Economics Current

Bharat Market

Confederation of All India Traders (CAIT) has announced to launch a national e-commerce marketplace Bharat market for all retail traders in collaboration with several technology partners. 
 
The government of India has taken several measures to develop e-commerce market in the country. Recently, around 200 mandis were added to the E-NAM platform. There are around 785 mandis operating under the platform presently. E-Nam is the National Agricultural Market that was launched in 2016. The Government of India has also announced that the Common Service Centres were to take over village level online retail chain.
 
What is CAIT? Confederation of All India Traders is an apex body of the trading community of India consisting of trading bodies of different states. It has access to over 20,000 such trading federations all over the country. 
 
Significance of Bharat market:
·The marketplace will integrate capabilities of various technology companies to provide end-to-end services in the logistics and supply chains from manufacturers to end consumers, including deliveries at home.
·The e-commerce portal will include a nationwide participation by retailers.
·It aims to bring 95% of retail traders on-board the platform, who will be the shareholders and the portal will be run exclusively by the traders.
·It is expected to play an effective role in getting the essential commodities to reach the consumers at their doorsteps in the wake of the covid induced lockdown period. 
·The initiative will receive active support and guidance of the Ministry of Commerce and Industry.
·The All India Traders body is focussing on enrolling about one crore retailers on this e-marketplace in 2020 and make it the world's largest and most-unique e-marketplace ever.

 




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