IndiaMart.com Becomes Key Contributor to the Growth of SMEs

SME Channels,

SMEs in engineering sector saw almost double-fold growth in 2011 as compared to 2010
IndiaMART.com has emerged on top as a key contributor to the growth of Small & Medium Enterprises (SMEs) in this sector. These enterprises are leaping ahead and capturing new markets with holistic online business solutions provided by IndiaMART.com.

IndiaMART.com provides an impressive dominance to these SMEs over both, domestic and international markets through its marketplace. The company informs that online activity of SMEs in engineering sector saw almost double-fold growth in 2011 as compared to 2010. While there were over 25000 companies active on its marketplace in 2010, the number rose to over 44000 in 2011. This shows that in volatile market conditions, SME units in engineering sector have been looking for low cost channels to market themselves. It also indicates that the level of internet acceptance has increased remarkably for such businesses.

Appreciative of this growth in online adoption among engineering sector SMEs, Dinesh Agarwal, Founder & 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”.