Online shopping portal for authentic tribal products launched

The Union Ministry of Tribal Affairs launched an online shopping portal for sale of authentic tribal products that will seek to create a ‘niche’ market for indigenous artisans.

About the e-commerce portal

  • This online portal is initially open for only Indian shoppers and for international buyers later.
  • Features 69 tribal products viz. textiles, metal artifacts and jewellery, etc.
  • Launched by Union Minister of Tribal Affairs Raj V Kishore Chandra Deo.
  • Objective:  To provide branding, source certification and developing standards for products.
  • Shawls, stoles and mufflers will be in available in Angora, sheep wool and Pashmina material from states viz. Orissa, Assam, etc.
  • Paintings from four states and dokra metal artifacts and jewellery from states viz. Nagaland and Himachal Pradesh will also be available.
  • Detailed write- ups of the products will also be available.
  • The Tribal Cooperative Marketing Development Federation of India Limited (TRIFED) is making special efforts to promote the sales of handicrafts. 

Future Plans: The Ministry of Tribal Affairs has plans to launch a new website for the minor forest produce viz. honey and tamarind.

IMF projected India’s FY’15 growth at 5.4%

The International Monetary Fund (IMF) projected 5.4% economic growth for India in 2014-15 and proposed to strengthen the inflation management polices and doing away with supply bottlenecks for better GDP.

The IMF forecast:

  • Consumer prices based inflation is expected to remain near double-digits in 2014-15, driven by high food inflation that feeds into wages and core inflation.
  • The tight monetary policy would slow the growth recovery.
  • For the fiscal year 2013-14, India’s growth will be 4.6% and will pick up to 5.4% in 2014-15 at factor cost. (These projections of India were a conclusion of its annual discussions with India).

As per India’s official estimates, the economy is probably to expand at 4.9% in 2013-14 as against 4.5% in the previous fiscal. The government expects to growth to pick up in the 2014-15 fiscal.