Paytm to spend 10 crore to mar­ket Make-in-In­dia prod­ucts

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Com­merce plat­form Paytm said it will spend about ` 10 crore to mar­ket MakeinIn­dia prod­ucts on its plat­form cov­er­ing prod­ucts rang­ing from phones to clothes and home fur­nish­ings.

The startup will launch a new sec­tion on its app and web­site for In­dian-ori­gin prod­ucts with greater vis­i­bil­ity, tar­get­ing at least 5,000 mer­chants by the end of the year. PM Modi’s Make in In­dia ini­tia­tive is aimed at turn­ing the coun­try into a man­u­fac­tur­ing hub to gen­er­ate jobs and lift in­comes.

“We see the abun­dance of tal­ent and ca­pa­bil­ity in man­u­fac­tur­ing and hand­i­crafts in our coun­try and aim to cre­ate a spe­cial plat­form where such in­dige­nous cre­ators can sell across the coun­try,” said Sud­han­shu Gupta, VP, busi­ness. Gupta said he ex­pects these sell­ers to reach about ` 100 crore monthly gross mer­chan­dise sales in the next few months.

The move comes a week af­ter Ama­zon said it had set up ded­i­cated Make in In­dia stores on its In­dia and US web­sites. Gupta said Paytm has a mul­ti­stage ver­i­fi­ca­tion and qual­ity con­trol process. “This helps us in iden­ti­fy­ing qual­ity sell­ers and prod­ucts,” he said.

Last month, Paytm said it ex­pects to triple gross mer­chan­dise value (GMV) to $10 bil­lion by De­cem­ber 2016 on the back of strong growth in trans­ac­tions on its mar­ket­place.

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