In the dynamic landscape of Indian commerce, digital payments have emerged as a transformative force. BharatPe, a leading name in the fintech industry in India, has recently joined hands with the Ministry of Micro, Small, and Medium Enterprises (MoMSME) with the objective of empowering artisans and craftspeople across the nation.
The Pradhan Mantri Vishwakarma Scheme & DPAs
The Pradhan Mantri Vishwakarma (PM VISHWAKARMA) Scheme, overseen by MoMSME, aims to empower artisans and craftspeople who work with their hands using tools. One of its primary objectives is to bring these artisans into the digital fold, promoting formalization through digital transactions.
Enter digital payment aggregators (DPAs) like BharatPe. With a tech-savvy approach, we play a pivotal role in developing the digital ecosystem by providing tools such as durable QR codes, thereby creating a robust digital payment infrastructure and enabling digital transactions among merchants and consumers alike.
BharatPe, with its vast infrastructure, expertise, financial resources, and manpower, has entered into a Memorandum of Understanding (MoU) with the Ministry of MSME (MoMSME) to be a partner to drive the PM VISHWAKARMA scheme and drive digital adoption among the beneficiaries of the Scheme. Our role in this will be instrumental in enabling a whole new set of merchants (the artisans), bring them into the fold of the digital economy, and achieve the digital transformation envisioned by the scheme.
We will also be conducting training so the artisans and the craftsmen are well equipped to transact digitally.
The partnership between BharatPe and MoMSME marks a significant milestone in India's journey towards a digital economy. By digitally empowering artisans and craftspeople, this collaboration not only aligns with the government's vision but also brings financial inclusion and economic growth to the grass root level. It's a step forward in making India's artisans digitally active and self-reliant, ultimately driving the nation's progress.
This collaboration is a testament to the power of public-private partnerships in shaping the future of India's digital landscape. As we move forward, the impact of this initiative is expected to ripple across the country, touching the lives of countless artisans and craftspeople, and contributing to the growth of the Indian economy.