IndiaMART.com ties up with SGS for rating Indian suppliers and exporters to promote trust in the online B2B marketplace

New Delhi, November 23, 2000: IndiaMART.com is close to finalising discussions that will integrate SGSonSITE services onto their portal in order to promote trust in the on-line B2B marketplace.

IndiaMART.com, the pioneer in promotion of Indian B2B segment globally on the Net, will integrate quality services of the SGS Group (Société Générale de Surveillance, Geneva) -the world-wide leader in inspection, testing and certification services for rating of Indian suppliers and exporters listed on its site. The ratings, along with other services like vendor verification, product sampling and inspection offered by the alliance will help buyers and importers dealing with Indian suppliers and exporters make informed purchasing decisions based on vendor reliability, thereby promoting trust in the on-line B2B marketplace.

“It is a sign of maturity in a marketplace when the businesses involved seek verification by a recognised body. This move by IndiaMART.com offers a major marketing boost to the businesses listed with their portal, in addition to the trust and confidence it will generate in the online B2B marketplace”, commented Dr Bill Spencer, Director – Global Marketing and Partnerships, SGS Group, on the eve of alliance.

“We have over 70,000 businesses in our database under hundreds of categories accessed by thousands of buyers and importers every month from around the world. The problem remained about trustworthiness of a listed vendor on-line, especially in case of international trade. Rating of vendors and suppliers by a world class verification body like SGS will build a high degree of trust in the buyer dealing with an unknown vendor”, said Mr Dinesh Agarwal, CEO IndiaMART.com.

The SGS Group is the global leader in verification, testing and certification, that acts as an independent “third party” providing assurance in on-line transactions by offering “Safe Internet Trading Environment” (SITE) services, providing the confidence buyers and vendors need to transact on the net. Utilising their world-wide verification and reporting network of 850 offices, the SGS Group is able to provide its comprehensive range of services in more than 140 countries. These services offer the following benefits to the participants in on-line transactions:

Advantages to buyers:

  • Reduce the risk of transaction failure by allowing buyers to make informed choices about products and vendors
  • Receive product samples drawn independently by SGS from vendors listed on IndiaMART.com
  • Review product specification sheets and order product inspections prior to shipment

Advantages to vendors:

  • Independent assessment of their recent successful e-trade transactions
  • Verification of self-declared product information
  • Flexibility to display seals on global e-marketplaces like IndiaMART.com
  • Differentiate themselves from non-sealed vendors

SGS Services for eBusiness@IndiaMART include:

SGSonSITE Rating: SGS conducts independent assessment of the vendors’ ability to meet agreed buyers requirements and rates the vendors depending on assessment scope and results. Vendors can use these ratings to differentiate from non-rated members
SGSonSITE.SpecSheets: Product specifications are verified by SGS and reported on IndiaMART. Vendors can use the sheets as independent evidence of the quality of their products
SGSonSITE.Sampling: SGS visits vendors and independently draws product samples before listing on IndiaMART, and then ensures that the same are available for immediate dispatch to buyers around the world. Buyers can obtain an independently drawn sample prior to making a purchase decision
SGSonSITE.Visual Inspection: After a buyer and vendor have agreed to transact, SGS can conduct inspection of goods that are ready for shipment as per the order specifications.