Ayekart partners IACOC to uplift SMEs, farmers in UP

Ayekart, a fintech startup that is empowering traditional businesses and farmers' communities in India, has joined hands with the Indo-American Business Chamber (IACOC) of SME-UP Chapter to empower and uplift MSMEs, SMEs and the farmer community.

The MOU is signed in order to establish a strategic collaboration between both the parties in developing a partnership to help MSME's, SME's and farmers' community. Furthermore, the partnership enables the chapter to leverage the multiple services like finance, technology, upstream and downstream linkages, domestic as well as global trade opportunities and digital presence among others.

The MSMEs sector has become the major contributor to the socio-economic development of India. The sector contributes vastly to Gross Domestic Product (GDP) of the country and exports. It has gained significant importance due to its contribution to entrepreneurship development especially in semi-urban and rural areas of India. As per IBEF (India Brand Equity Foundation) the number of MSMEs in India increased by a CAGR of 18.5 per cent from 2019 to 2020. MSME's are rapidly adopting digitization. The rise in digital adoption further enhances the growth of the sector.

Talking to Bizz Buzz, Debarshi Dutta, co-founder and CEO of Ayekart said, "IACOC and Ayekart currently have 4 active members using the Ayekart services. Over 800 members are active with IACOC." He added, "We have close to 40 proposals in discussion from various districts of UP currently. With this partnership, we aim to impact more than 500 MSMEs in a year's time frame." This partnership opens up immense opportunities for the traditional businesses, MSMEs, Agri-Businesses, Farmer Collectives (FPOs/FPCs/Co-operatives, etc.) supported by SME Chapter as well as Ayekart. As a fast-growing PaaS, Ayekart brings an integrated digital platform as an end-to end and one-stop solution for plugging the gaps in the supply chain.