“An investment in knowledge pays the best interest.” – Benjamin Franklin
This is something that IndiaMART as an organization understands and promotes. Encouraging the employees to learn more, acquire more knowledge and break the barriers, has been IndiaMART’s innate goal.
We consider education as an investment and hence over the years we have curated special educational programs that would bolster our employees skill set further. One such immensely successful initiative is iLEAP, that was launched in 2014. Over 400 employees availed this sponsored opportunity, and successfully acquired their desired degree from the best institutions of the country. Through this program we aimed at offering our high-potential employees with a unique opportunity to empower themselves with knowledge, design and develop their existing skills, and enhance their ability for future leadership roles.
Besides this, IndiaMART continued to unearth various other avenues to hone our employees abilities further. With the aim of equipping our
mid- level managers to face bigger challenges at work we wanted to create a program that would take them through a journey that will expand their horizon and broaden their perspective on the overall organization, specifically keeping the internet based service industry in mind.
Hence, with the interest in creating the future leaders, IndiaMART launched the Emerging Leaders’ Development Program (ELDP) in partnership with one of the best institutions of the country, Faculty of Management Studies (FMS). ELDP was a 7 month long program. During this period mid-level managers learnt the trick to augment their managerial skills, decision making skills and develop holistic problem solving capabilities. Varied participants were selected for this program from across the verticals. This helped in promoting cross-learning and cross-functional understanding away from an office environment.
Mr. Sumit Maheshwari, CHRO, IndiaMART
“For most of the candidates this opportunity was very aspirational. An association with an institute of repute was something that did excite a lot of people. With this what came along was a very high expectation about what they will be taught. Hence, we created an extremely focused curriculum, unlike most of the management programs which are more often than not generic in nature and are designed for enabling someone with basic management concepts.”
ELDP was like a case based learning program, and involved people sharing their experiences and their challenges. The curriculum revolved around understanding the importance of managing data and analytics, understanding the customer orientation, and nurturing the problem solving attitude.
Many of the candidates were actually MBA aspirants and they at some point were chasing the ‘red building of dreams’. On receiving this opportunity, the candidates left no stone unturned. Attending all the sessions every Saturday involved a lot of personal investment on the part of the candidates, which they were able to do very successfully. With such an enthusiastic bunch, who are always on the lookout to enrich their knowledge, IndiaMART will never cease to create the best possible opportunities to nurture these minds further.
Hence, let’s Celebrate Learning!
IndiaMart’s Dinesh Agarwal, Avon Moldplast’s Sushil Kumar Aggarwal, and Urja Packaging’s Sushant Gaur speak on building a brand in India at the first YourStory Brands of India Awards, 2019.
“Building a brand involves art, science, and more importantly, working smart”, said IndiaMart Founder and CEO Dinesh Agarwal.
He was speaking at a panel discussion at YourStory’s first Brands of India Awards, 2019. The first edition of the awards, in association with the Ministry of Micro, Small, and Medium Enterprises, was held in New Delhi on February 27.
Dinesh started IndiaMART 23 years ago, and today it is among the largest online B2B marketplaces connecting buyers with suppliers with a 60 percent market share. “It is the result of perseverance, commitment to purpose, and ability to fight challenges throughout the journey,” said Dinesh.
The panel on ‘The Making of an Indian Brand’ also saw participation from Sushil Kumar Aggarwal, Chairman and Director of Avon Moldplast Limited, which listed on the SME Emerge platform of the National Stock Exchange last year. Sushant Gaur, Founder of Urja Packaging, was also part of the panel. All three panelists agreed that building brands in the MSME sector was not easy, and shared key takeways from their own journey with the MSME entrepreneurs who attended the awards.
Dinesh shared some smart hacks on branding that he used in the initial days of IndiaMART. “In the initial days when businesses didn’t have internet connections, we at IndiaMART used to print queries coming in and fax it to Indian companies overnight, or post a letter to businesses across the country saying, ‘Yet another business opportunity from IndiaMART’ on the envelope,” he said.
Dinesh also recalls wearing a t-shirt with the IndiaMART logo and filling forms on behalf of businesses and registering them on the platform free of cost at trade fairs in Delhi’s Pragati Maidan in the early 2000s. Despite all smart hacks, and smarter branding innovations, Dinesh insisted that as a business, one must deliver on the promise of their product or service.
Speaking about Avon Moldplast’s journey from starting out in 2002 to going public in 2018, Sushil, said MSMEs face challenges in getting loans and funding due to lack of a financial ecosystem and lofty collateral requirements. He added that going public was the best option, and that this culture needs to kickstart among MSMEs in India. He said he could not stress enough on the importance of going public to build a MSME brand. “Start doing it,” he told the crowd. He added,
“Going public is very easy, and doable. MSMEs should know that there is nothing to fear and that the platforms dedicated to SMEs such as SME Emerge by NSE are welcoming and they will give you the required hand-holding.”
Sushil, though, added that one should not get over-confident on listing. “Brand building does not happen just with enough funds. A brand needs nurturing. You can’t build a brand overnight, it’s the performance and the integrity of the company that matters.”
With the spending power increasing in India, as well as in other countries, Sushil said there are enough business opportunities for MSMEs, and they should have the ambition to be the backbone of the country.
Insisting on the importance on going public, Sushil added, “Being a listed company will give you confidence, transparency, and visibility, which will help your company leapfrog growth.”
Many people think promoting brands from India could mean competing with global brands and having to splurge on marketing. Here, Sushant differs. He urged MSMEs to use technology to their advantage and said it does not need very high budgets.
Speaking of his own experience, Sushant said for Urja Packaging, which makes paperbags, popularly called ‘lifafas’ in the market, he used technology and the internet to create a brand. He said internet-savvy brands in India did not use Hindi words to promote themselves online, and “we found this gap in our industry and capitalised on it”.
“We started using social media platforms like Facebook to promote ourselves. We post short videos about our products on social media platforms using the correct keywords and we get a lot of customers queries that way,” said Sushant. “You don’t need volumes like a thousand hits, you need hits from the right customers, even if they are less,” he added.
MSMEs, however, need to remember that a brand is not built overnight. A company needs to deliver on their promise of a good service or product to the customer and be open to explore new paths, the panel said. Dinesh said in conclusion, “Unforeseen circumstances will come in the journey, but if you are committed to your purpose, you will figure out how to build a brand.”
In the age of digital services, brands more often than not miss out on having a personal touch with their customers. A year back this was exactly what we realized at IndiaMART and launched “Learning Centre” – a customer connect initiative to meet them every month across the country.
|Tanu Kaushik, Product Owner
“Learning Centre was envisioned to enrich communication with our customers and guide them about maximizing their performance on our platform. Over the last year, we have managed to connect with customers across our major markets, understand their learning needs, the challenges they face in everyday business, and their expectations from the platform. It has not just been a training platform for them, but a learning tool for us as well. Learning Centre has helped us in sensing the pulse of the market, thereby, allowing us to build better products for our customers, build stronger relationships with them and grow together in this process.”
Starting from our Peeragarhi branch in Delhi, the initiative has now scaled up to 16 centers connecting with over 5000 sellers across India.
Through the sessions, the newly on-boarded sellers are provided with personal support and are helped to grow their business through education about the IndiaMART platform. The other important aspects of business with IndiaMART, such as BuyLead Consumption, Lead Manager and Pay with IndiaMART are explained elaborately in the sessions. Similar sessions are also conducted for the premium customers, in order to keep them updated with latest product updates.
The programme has not only helped our sellers but it has also helped the IndiaMART employees to hone their skills further, and come out as expert presenters. In the due course of the process they have garnered a comprehensive knowledge about the platform and the product. They have then instilled the knowledge acquired amongst their team members as well. This has helped the entire team to grow together.
Listen to what our Sales Leaders have to say about their experience at the Learning Centre.
|Abhishek Anand, Regional Sales Manager
“Through this session, we actually found out the gap between what we deliver and what’s actually being utilized by our sellers. Moreover, sellers got a platform to hear success stories of other suppliers present in the session and understood that low ROI in 90% case is due to low engagement on IndiaMART. Overall I benefited on a personal level, my confidence in our services grew by ten times, especially when every session ended with numerous compliments from customers about IndiaMART.”
|Jinny Ashok Achtani, Zonal Manager
“Many a time, the partners who have garnered comprehensive knowledge about the platform, went back and imparted their knowledge to other clients of IndiaMART and hence created a great network effect for our brand.”
Knowing how a product is being perceived by our sellers is extremely important for every product manager, although it’s not easy to get this feedback. Here, the Learning Centre came as a robust opportunity for IndiaMART Product Managers to understand the seller’s thought-process, to explain their products better and to learn the changes that must be brought in to increase customer satisfaction.
We asked one of our product managers to share his experience at the Learning Centre. Here’s what he has to say!
|Akashdeep Goldy, Product Manager
“Visiting Learning Center, and conversing with the sellers to clarify all their doubts, is one of the most enriching activities that I have experienced. It bridges the gap between the customers and IndiaMART. After the Learning Centre sessions, I have received calls and messages from sellers who expressed how the session has helped them. I still have contacts with many whom I have met in the various sessions.”
With one year gone by and many more years to come, we hope that we will continue to keep our partners happy and hitched while helping them bolster their business in the most effective way possible.
It was truly a delight for IndiaMART to share the stage with other prominent personalities who shared their thoughts and ideas on the future of MSMEs in India at the 9th Vibrant Gujarat Global Summit 2019.
On the 19h of January 2019, Mr. Dinesh Agarwal, Founder & CEO, IndiaMART, at the MSME Convention shared his insights and knowledge on “Marketing & Positioning in Global Value Chains”.
There were several other dignitaries who at the Convention shared their thought on the rapid pace at which the MSME sector is improving, and what the sector is expected to be in the years to come.
“MSMEs are the backbone of any economy and Gujarat is one of the most successful states in of the country when it comes to the MSME sector. We at the central government have taken up the welfare of the MSME sector at the highest priority. It is the MSME sector that will take India’s economy to $5 trillion in the coming years.”
– Giriraj Singh, Minister of State (Independent Charge), MSME
Vibrant Gujarat Summit as an idea was conceptualized in 2003 by Hon’ble Prime Minister of India and the then Hon’ble Chief Minister of Gujarat, Mr. Narendra Modi. His primary goal was to re-establish Gujarat as a preferred investment destination within India.
Today, the Summit has completely transformed itself into a platform for brainstorming on agendas of global socio-economic development. It has also evolved itself as a stage for knowledge sharing and forging effective partnerships.
The 8th Vibrant Gujarat Global Summit, held in January 2017, witnessed participation from 25,000+ delegates from 100+ countries, including 4 Heads of States, Nobel Laureates, Captains of global industry and Thought Leaders.
This participation increased exponentially in the 9th Vibrant Gujarat Global Summit, held in 18th- 20th January 2019, where the response received from all over the country was overwhelming. There were 42,526 registered delegates, 285 registered delegations, and 26,893 registered company.
The amalgamation of such prominent personalities to discuss on the future of MSMEs in India will enable the businesses to comprehend the future course that can be expected, and plan accordingly to experience the best out of the evolving environment.
दिल्ली का सदर बाजार। उत्तर भारत का सबसे मशहूर थोक बाजार। जहां सुई से लेकर इलेक्ट्रॉनिक्स सामान तक थोक दाम पर मिलते हैं। जहां सैकड़ों नहीं, हजारों कारोबारी रोजाना व्यापार करने आते हैं। इस प्रकार के दूसरे बाजार की परिकल्पना मुश्किल ही नहीं नामुमकिन है। लेकिन एक बीटेक ग्रेजुएट ने मात्र एक कंप्यूटर और 40,000 रुपए की पूंजी से ऑनलाइन सदर बाजार बना डाला। यहां 5 करोड़ से अधिक प्रोडक्ट का कारोबार होता है।
6 करोड़ खरीदार तो 47 लाख विक्रेता रजिस्टर्ड है इस ऑनलाइन थोक बाजार में। इनमें से 10 लाख से अधिकत तो मैन्यूफैक्चरर्स हैं। इस बी2बी (बिजनेस टू बिजनेस) ऑनलाइन बाजार का नाम है इंडिया मार्ट। जहां वित्त वर्ष 2017-18 में 430 करोड़ रुपए का कारोबार किया गया। हम बात कर रहे हैं इसके संस्थापक एवं सीईओ दिनेश अग्रवाल की। जल्द ही वह अपनी कंपनी को स्टॉक मार्केट में लिस्ट कराने जा रहे हैं।
अग्रवाल ने मनी भास्कर को बताया कि इंडियामार्ट के प्लेटफार्म पर हर सेकेंड 20 क्रेता-विक्रेताओं का मिलन (मैच) होता है। यानी कि 15 लाख एक दिन में। हर महीने 4.5 करोड़। अग्रवाल ने बताया कि कंपनी में 3500 लोगों को डायरेक्ट रोजगार मिला हुआ है। राजनैतिक एवं कारोबारी घराने से ताल्लुक रखने वाले अग्रवाल ने कंप्यूटर साइंस में बीटेक की डिग्री ली। अग्रवाल ने बताया कि उनके दादाजी स्वतंत्रता सेनानी थे और 1957 में बहराइच इलाके से एमएलए भी रहे। कानपुर से बीटेक की डिग्री लेने के बाद 1992-95 तक उन्होंने विदेश में नौकरी की। 1995 में भारत में इंटरनेट लांच हुआ, तब वह अमेरिका में एचसीएल में नौकरी करते थे। लेकिन तभी उन्होंने सोच लिया था कि अब कारोबार करना है। अग्रवाल ने बताया कि 1996 में उन्होंने एक कंप्यूटर और 40,000 रुपए से इंडियामार्ट की शुरुआत की।
अग्रवाल ने बताया कि उनके इस कारोबारी प्लेटफार्म पर ऐसे-ऐसे प्रोडक्ट बिक रहे हैं जिनके बारे में आपने-हमने सुना भी नहीं है। उन्हें खुद पता नहीं होता है कि उनकी साइट्स पर क्या-क्या बिक रहे हैं। अपने बिजनेस मॉडल के बारे में उन्होंने बताया कि एक लाख से अधिक सप्लायर्स उन्हें शुल्क देते हैं। इन सप्लायर्स को कंपनी की तरफ से सर्च में प्राथमिकता दी जाती है। इसके अलावा वे इन सप्लायर्स को और भी कई सुविधाएं देते हैं।
Zee Business Dare to Dream Awards: As many as 43 successful entrepreneurs were honoured for their efforts during the Zee Business Dare to Dream Awards in New Delhi on Monday. Years before start-up became a buzzword among the country’s youths, many visionaries stepped out to start new businesses, to realise their dreams. Today, they have become inspiring entrepreneurs who went from humble origins to become top achievers. Simply, because they dared to dream.
Celebrating the success of home-grown entrepreneurs, India’s top Hindi business channel, Zee Business, in collaboration with SAP India Pvt Ltd, felicitated them at the ‘Dare to Dream Awards’ on Monday. Giving away the awards to the winners at the event in Delhi, MSME Secretary Arun Kumar Panda said the youths today should aspire to be job givers rather than job seekers and highlighted the fact that the Centre has taken numerous initiatives to ensure that success is achieved.
MoS Finance Shiv Pratap Shukla said, “Every government will support hard working and honest entrepreneurs. PM Modi always wants to help such entrepreneurs.”
Watch: Zee Business Dare to Dream Awards
Shukla said the initiatives of the government will ensure that entrepreneurs thrive in a conducive environment. He added that the government is working to bring India into the top 50 list of nations on ease of doing the business ranking by 2022.
Dare to Dream Awards: Full list of winners
|1||Ramesh Agarwal||Business Person of the Year|
|2||Manjinder Singh Sachdeva||Business Person of the year|
|3||Pankaj Poddar||Young Business Leader|
|4||Dinesh Agarwal||Inspirational Leader|
|5||Ramesh Babu||Inspirational Leader|
|6||KS Rathee||Inspirational Leader|
|7||Radha Venkatesan||Women Enterpreanuer|
|8||Himanshu Baid||Emerging Company of the Year|
|9||BR Bhatia||Emerging Company of the Year|
|10||Anshuman Singh||Emerging Company of the Year|
|11||Vimal Kedia||Emerging Company of the Year|
|12||Ajay Kumar Gupta||Emerging Company of the Year|
|13||Ajit Lakra||Company of the year|
|14||Damodar Krishan Aggarwal||Company of the year – Financial Services|
|15||Sanjay Bhatia||Company of the Year – Packaging|
|16||Sudhanshu Srivastava||Company of the Year – Agriculture|
|17||Devendra Shah||Company of the Year – Dairy Products|
|18||Tarit Sarkar||Company of the Year – EPC|
|19||Kapil Jhaver||Company of the Year – Healthcare|
|20||Rohit Gera||Company of the Year – Construction|
|21||Rahul Kulkarni||Company of the Year – Silicone Products|
|22||Sanjay Nayak||Company of the Year -Telecom Products|
|23||Gyanesh Chaudhary||Company of the Year – Green Energy|
|24||Abhinandan Sethi||Company of the Year – Infra|
|25||Meghana Musunuri||Company of the Year -Education|
|26||Balakrishna||Company of the Year -Water Purifier|
|27||Pradeep Cholayil||Company of the Year – Wellness|
|28||Ajay Agarwal||Service Excellence Award|
|29||Dr. Arvind Agarwal||Best Enterprising Business|
|30||I.C. Agarwal||Lifetime Achievement Award|
|31||N.K.Choudhary||Employer of the Year|
|32||Venkatesh||Corporate Citizen Award|
|33||Dr. Baldeep Singh||Corporate Citizen award|
|34||S B Jakhotiya||Business Innovation award|
|35||Shailendra Kumar Jain||Business Innovation Award|
|36||Gaurav Kumar Gupta||Emerging Company of the Year|
|37||Ajay Kumar Gupta||Emerging Company of the Year|
|38||Surjaram Meel||Best Enterprising Business|
|39||Veerendra meel||Best Enterprising Business|
|40||CS Sharma||Mosy Enterprising Business|
|41||K Srinivasan||Company of the Year – Export|
|42||Pradeep Dadha||Emerging Company of the Year|
|43||Durgesh Garg||Employer of the year|
Acknowledging the dreamers, Shukla said that today’s entrepreneurs are role models for our youths. He said, “If businesses are facing any issue, they can come and discuss the issue with us directly.”
According to Shukla, 13 crore people have benefitted from PM Narendra Modi’s Mudra scheme. It has helped people establish themselves as employers.
Speaking on the occasion, MoS SME Giriraj Singh said, “Young enetrepreneurs should empower themselves and set an example for everyone else.”
Singh said that for the first time in India, startups have been given a platform by PM Narendra Modi.
Sharing his vision for start-ups, Singh said, “Focus should be on using technology to create employment in villages. India needs to promote women’s participation to boost economy. People should promote social entrepreunership.”
“The governnment is willing to promote indigenous R&D,” he added.
‘Dare to Dream Awards’ series had first started in Delhi on October 15.
Read More – Zee Business
We recently organised a fun Selfie Contest for all our campus selects. The response has been overwhelming. Here are the details of the winners:
Online marketplace IndiaMART InterMESH Ltd and logistics company Avana Logistek have received markets regulator Sebi’s go ahead to float initial share sale offers.
With this, the number of companies getting Sebi’s approval to float an initial public offer (IPO) has reached 50 this year so far.
These two companies, which had filed draft their respective draft offer documents with Sebi in June, obtained the regulator’s “observations” on September 14, according to the latest update with the markets watchdog.
Sebi’s observations are necessary for any company to launch IPO, follow-on public offer and rights issue.
Through IndiaMART’s public issue, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauritius.
The initial share-sale offer is expected to garner Rs 600 crore, merchant banking sources said.
The public issue is being managed by ICICI Securities, Edelweiss Financial Services and Jefferies India.
Avana Logistek’s initial share sale consists of fresh issue of shares worth up to Rs 300 crore, besides, an offer for sale of up to 43 lakh scrips by the existing shareholders.
The Mumbai-based company plans to utilise the net proceeds towards funding capital expenditure for setting up of new dry warehouses and cold storages and repayment of certain borrowings.
Besides, the IPO proceeds will be used for acquisition of containers for coastal and liner services, expenditure towards software development, implementation and maintenance and general corporate purposes.
ICICI Securities and Axis Capital are the lead managers to the issue.
As many as four companies, including Bharat Hotels which runs ‘The LaLiT’ brand, have filed IPO papers with market regulator Sebi to raise an estimated Rs 3,250 crore. The other firms are K Raheja Corp’s hospitality company Chalet Hotel, online marketplace IndiaMART InterMESH Ltd and agro-processing equipment maker Milltec Machinery.
These four public issues are expected to fetch at least Rs 3,250 crore, according to merchant banking sources.
All these companies plan to list on the BSE and NSE.
Going by the draft papers, Chalet Hotel’s initial public offer (IPO) comprises fresh issue of shares worth up to Rs 950 crore, besides, an offer of sale of up to up to 24,685,000 equity shares by the existing shareholders.
JM Financial, Axis Capital and Morgan Stanley India Company will manage the company’s public issue.
Bharat Hotels’ IPO consists of sale of fresh equity shares to the tune of Rs 1,200 crore, as per the draft papers.
Proceeds of the issue will be utilised towards repayment of certain loans availed by the company for other general corporate purposes.
HDFC Bank Ltd, Edelweiss Financial Services Ltd and YES Securities (India) Ltd are the book running lead managers to the public issue.
As of March 2018, the company operated 12 luxury hotels, palaces and resorts under ‘The LaLiT’ brand and two mid-market segment hotels under ‘The LaLiT Traveller’ brand across the country’s key business and leisure travel destinations, offering 2,261 rooms.
Through IndiaMART’s IPO, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauritius.
The initial share-sale offer is expected to garner Rs 600 crore, merchant banking sources said.
The public issue is being managed by ICICI Securities, Edelweiss Financial Services and Jefferies India.
Milltec Machinery’s IPO will see sale of up to 37,51,499 equity shares, amounting to 37.5 per cent stake in the company, by Renuka Ramnath-led private equity firm Multiples Alternate Asset Management (Multiples PE) and promoters, draft papers filed with Sebi showed.
Multiples PE will sell 22.5 per cent, while promoter will divest 15 per cent holding in the company.
According to merchant banking sources, the public issue is expected to fetch Rs 500 crore.
Motilal Oswal Investment Advisors and IIFL Holdings are merchant bankers of the issue.
Milltec is a leading agro-processing equipment manufacturer, with sales and distribution network in India and overseas. Its portfolio includes equipment to facilitate the processing of rice, pulses, wheat, seeds and maize.
NEW DELHI: IndiaMART, a marketplace focused on small and medium enterprises, filed the draft papers for its public market debut with the regulator on Monday, making it the most recent instance of a venture capital-backed company opting to test the country’s capital markets.
The Noida-headquartered company will offer up to 4.28 million shares through its offer for sale, with its promoters and investors selling a portion of their stakes in the 23-year-old venture in the issue.
According to a statement issued by the company, Intel Capital will sell 2.07 million shares, while Amadeus IV DPF, an investment unit of Amadeus Capital, and Accion Frontier Inclusion Mauritius, will sell 1,70,502 and 4,75,000 equity shares, respectively.
Additionally, promoters Dinesh Chandra Agarwal and Brijesh Agarwal will offer 8,52,453 and 5,77,656 shares in the IPO.
ICICI Securities, Edelweiss Financial Services and Jefferies India are the book running lead managers to the issue, the press release said.
The promoters cumulatively hold over 55% of the company, while Intel Capital is the largest institutional stakeholder with a 13.47% ownership, after the completion of conversion of CCPS, the company stated in its draft red herring prospectus filed with the Securities and Exchange Board of India.
The Times Group, which publishes The Economic Times, is also an investor in the company.
IndiaMART’s upcoming IPO will be the latest by a venture capitalbacked company in India over the past 18 months. The year 2017 saw online marriage services provider BharatMatrimony, ecommerce company Infibeam and security software provider Quick Heal Technologies hitting the capital markets.
In 2018, homegrown product technology company Newgen Software’s IPO was subscribed eight times on the third and final day of its public market debut, in the process, providing its three risk capital backers with stellar exits.