24 July 2024, Mumbai
E-commerce industry leaders and experts have welcomed the announcements made in the Union Budget 2024-25, highlighting their potential to boost economic growth.
Kalyan Krishnamurthy, CEO, Flipkart Group, states, the budget will help enhance India's human and organisational capital, remove supply chain bottlenecks and support MSMEs. The reduced TDS rate will free up working capital, boosting sellers' efficiency.
DhireshBansal, CFO, Meesho, adds, the reduction in TDS rates will improve liquidity for small businesses, enhancing working capital efficiency and fostering parity between online and offline operations.
A spokesperson from Amazon India notes, combined with the Amazon Global Selling program, the reforms announced in the budget will empower Indian MSMEs to reach global markets, moving closer to their goal reaching $20 billion in e-commerce exports by 2025.
Dinesh Gulati, COO, Indiamart Intermesh adds, the new schemes and increased Mudra loan limits will provide essential financial assistance, driving the sector's growth and global competitiveness.
