Online B2B marketplace IndiaMart.com has said that online activity of Small and Medium Enterprises (SMEs) in engineering sector saw almost double-fold growth in 2011 as compared to 2010. While there were over 25,000 companies active on its marketplace in 2010, the number rose to over 44,000 in 2011.
India’s engineering sector expresses the best of country’s economic development constituting 12% of the total economy and has emerged on top as a key contributor to the growth of SMEs in this sector.
Dinesh Agarwal, Founder and CEO, IndiaMart.com, said, “Engineering sector is the backbone of industrial infrastructure of any economy including that of ours, thus, a prominent sector. SMEs in this sector need to establish trust and adopt new technologies to build their global competitiveness and increase their customer base. On IndiaMart.com, we saw a huge surge in SME registrations last year. Such a move bodes well for the sector, and would expand its reach and deliver faster results. We are proud to have been a growth partner of these enterprises.”