Sat, Dec 10, 2016 | updated 06:16 PM IST

My Trade Box join hands with Lending Kart to provide SMEs with loans

Updated: Oct 25, 2016 18:55 IST

New Delhi [India], Oct 25 (ANI): India's first 'Assisted Bulk Buying' hybrid e-commerce start-up My Trade Box will assist SMEs to connect directly to the retailers through their association with fintech startup LendingKart, with a common aim to provide more loan access to more small and medium enterprises.

Both the firms will have a dedicated trade link on their websites to promote their association in their respective ways to reach out to the potential SME's.

Small and medium enterprises have been a backbone of Indian economy. In present MSMEs employs over 13.2 million people and account for 30 percent of India's GDP.

It also accounts for 40 percent of Gross Industrial Value and 50 percent of manufacturing exports. The sector has seen a new development after many programs have been launched by PM Narendra Modi like Start-Up Stand-Up India, Digital India, Mudra Yojna and Market Development Assistance Scheme etc.

Also, Union Minister for MSME, Kalraj Mishra launched "Online Finance Facilitation Centre", an initiative by CII to act as a one-stop-shop center for aggregating financing options for SMEs from various major financial institutions.

Thus, it is very true to say that Small and Medium Enterprises actually serves as the engine of growing Indian Economy.

"My Trade Box and LendingKart.com proudly join hands to provide more loan access to SMEs. It will hugely benefit the manufacturers and SMEs to expand their business and business related problems and become a major contributor in Indian Economy," said Co-Founder of MTB, Jayant Mehrotra. (ANI)