IndiaMART

Public Procurement Policy to ensure SME role in nation building:  IndiaMART Emerging Business Forum

Pune, October 16, 2016: India’s Public Procurement Policy is in need of efficiency, equitability, social intent implemented as a flawless framework with adequate checks and balances, and involvement of experts outside of the government. Stressing on such salience, the 5th chapter of the 6th IndiaMART Emerging Business Forum 2016, held in Pune on October 21, emphasised upon the importance of the Policy driven by technology to ensure participation of even the marginal SMEs in the process.

Under the Policy regulations, every central ministry, department and PSU must procure minimum 20% goods and services annually from micro and small enterprises. The Pune Emerging Business Forum analysed the Policy’s impact on such enterprises, both constructive and challenging; it also served as a platform to deliberate upon the available opportunities that can be best explored by the enterprises.

According to Mudit Khosla, Sr. Vice President – Brand Solutions, IndiaMART, “Perhaps the most effective and laudable process relevant to the current startup environment for the SMEs to participate in nation building, the Public Procurement Policy must be tuned to address trade financial inadequacies too. As we saw at the Pune Emerging Business Forum, the enterprises expect built-in transparencies and easy, technology-supported access to information within the bidding process. Online marketplaces can serve as platforms for transparent and easier procurement of goods and services.”

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Apart from the needs within the procurement policy, the Emerging Business Forum highlighted its multi-level advantages, given the social-welfare imperatives of the country and its apparent intent to become a SME-led economy.  The government is focusing on a well-designed and well-implemented public procurement policy that would ultimately lead to financial savings from annual procurement costs; generate avenues for private investments; provide added adeptness in channelising national expenditure in growth-centric areas such as infrastructure; and make institutional procurement stringent, regular and rule based.

The other speakers included Sanjay Athalle, CFO, Reliance Commercial Finance and Nitin Bankar, Director, Pimpri-Chichwad Industry Association.

The IndiaMART Emerging Business Forum in Pune continued the series of successful chapters in Ahmedabad, Delhi, Hyderabad, and Jaipur. The next such forum will be held in Mumbai next

The best career advice I got

The Economic Times

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Technology to galvanize Indian women entrepreneurs: IndiaMART Emerging Business Forum

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Jaipur, October 10, 2016: IndiaMART, India’s largest online marketplace that connects buyers and suppliers, stressed on the importance of propelling the growth of women entrepreneurs in India at the 4th leg of the 6th season of IndiaMART Emerging Business Forum held in Jaipur on 14th October, 2016. The highly immersive conference effectively navigated and edified the SME community across the length and breadth of the country. Rajasthan is home to around 2.5 Lakh women run establishments and counting. They have immensely contributed in creating new job roles for themselves, as well as others. Furthermore, they have introduced innovative and effective solutions to counter various corporate issues, be it in the realm of management or other important business operations. In a growth-infused market such as India, the sudden growth of women entrepreneurs is a welcoming step towards achieving gender parity across sectors.
According to Madhup Agrawal, IndiaMART, “In spite of the fact that many women now hold leadership roles, they still have to break through gender-based barriers to be taken seriously. Challenges such as cultural practices, expectations of raising a family, lack of financial independence, limited access to information etc. have always hindered a woman’s growth and kept her from realizing her maximum potential. Technology and online marketplaces offer a level playing field to women entrepreneurs allowing them to efficiently multi-task between work and personal life.”
Other speakers at the event included Neeta Boochra, Founder Chairperson of FICCI FLO; Anisha Motwani, Corporate Leader; Usha Dutta, National Credit Manager at Reliance Capital and Divya Jain – CEO of Safeducate.
Usha Dutta talked about the financial issues for women entrepreneurs and called them as ‘Risk Covers’. Neeta Boochra encouraged women to come forward as entrepreneurs and asked them to ‘Dream big, act fast, be decisive and have a goal’. Anisha Motwani spoke on how SMEs can be the leaders of tomorrow.
The Jaipur chapter of the 6th edition of IndiaMART Emerging Business Forum comes following the success of its preceding chapters in Ahmedabad, Delhi, and Hyderabad.
Growth enablers such as the Emerging Business Forum have come forward to bolster women in realizing their goals and ambitions without societal limitations. As an organization that promotes entrepreneurship, IndiaMART has been mentoring and empowering women from all walks of life reach their full potential, and fuel their dreams of becoming successful entrepreneurs in future.

 

Chantani Ke Daur Mein Kar Rahein Bhartiyaan

Rajasthan Patrika

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#JaisaChahiyeWaisaPaaiye: IndiaMART’s new ad makes a case for its customised wares

Online marketplace IndiaMART has unveiled its newest campaign. The digital-led film aims to highlight the portal’s unique value proposition of offering customized products to its buyers. Bang In The Middle, IndiaMART’s AoR has created the film.

Sumit Bedi, vice president – marketing, IndiaMART said, “In the clutter of marketplaces, IndiaMART is the only one offering customized products as per the buyer’s need. Whether it is furniture for your office or handicrafts for home decor or machinery for your factory, we can fulfill any demand because of a strong base of more than 25 Lakh sellers. We keep hearing from our buyers about how IndiaMART helps them get products tailored according to their needs and not just run-of-the-mill products. And that is what inspired us to roll out this #JaisaChahiyeWaisaPaaiye campaign.”

Titled ‘Jaisa chahiye, waisa paaiye’, the tongue-in-cheek film depicts a hunt for an ‘exotic’ elephant to emphasise how consumers no longer seek only the easily available option in the market. Using humour and curiosity to strike a chord with the audience, the ad aims at showing the e-marketplace’s ability to tap into the inexhaustible possibilities of a buyer’s demands.

Watch the ad here:

Naresh Gupta, chief strategy officer and managing partner, Bang in the Middle said, “IndiaMART is not the usual brand. It’s a pioneer and thought leader. It is the definitive place where the small business owners come searching for growth and profitability. As a brand, IndiaMART has to build its expertise with the small business owners, and yet come across as a warm and friendly place which powers millions of small businesses across the country. We have ensured that the market sees value in differentiated offerings of the brand”.

Added Anirban Sen, executive creative director, Bang in the Middle, “For us, the goal was to create a campaign where the extensive advantages offered by the brand gets highlighted without dehumanising its image. We have portrayed the benefits of choosing IndiaMART while creating a fun and quirky image, which is synonymous with the brand.”

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Defying Layoff Trends, E-Retailer IndiaMART To Invest ₹50 Crores In Up To 40 New Offices

Huffington Post

At a time when Indian e-retailers are cutting staff amid financial pressures, business-to-business (B2B) online marketplace IndiaMart is on an expansion drive, with plans to open 35 to 40 new offices, and hire 500 people this quarter alone, Dinesh Agarwal, IndiaMart’s Founder and CEO told HuffPost India.

 Noida-based IndiaMart plans to invest ₹40 to ₹50 crores into the new offices, said Agarwal, adding each branch would receive about ₹1 crore. IndiaMart currently employs 3,500 staff in India across its 65 offices.

IndiaMart primarily serves the domestic wholesale small-to-medium B2B market and its platform currently connects over 30 million buyers to over 2.5 million suppliers that trade a variety of products ranging from hard-to-find industrial tools, fasteners, automobile parts, electrical equipment to karaoke machines and DJ systems.

The company is also investing heavily into its tech platform that underpins its online marketplace model. Just this week, it brought on Amarinder S Dhaliwal, formerly chief operating officer of Micromax YU, as its chief product officer, who will be responsible for leading product innovation and strengthening its consumer brand.

IndiaMart is targeting 20 new Indian cities for its expansion including both tier-one and tier-two cities such as Lucknow, Varanasi, Panipat and Yamunanagar where the retailer is seeking to boost its footprint, Agarwal said, adding a large chunk of the new offices will comprise sales staff.

Over the past few years, IndiaMart has grown rapidly, clocking ₹300 crores in sales last year alone, a jump of 45 per cent over the previous year, said Agarwal, adding the company has been “cash-flow positive” and profitable for some time. Its gross merchandise value (GMV) grew about 50 per cent to₹30,000 crores last year. It hopes to make ₹2,000 crore in revenue by 2020.

One strong driver behind the company’s strong growth has been its target niche of small and medium-scale enterprises and providing them customer leads and enterprise tools. For example, it provides a number of online tools to small enterprises that help with managing sales leads, and manage customer relationships.

Unlike large enterprises like hotels that collect e-mail IDs, which help them engage in sophisticated marketing, small enterprises don’t have the resources to manage sales and marketing, he said.

“We give them mobile [customer relationship management], online diary tools and a proper follow-up systems,” he said.

So far, IndiaMart has raised a total of $33 million in funding, with a $20 million series round it raised in January. Its investors include Intel Capital, Amadeus Capital, Westbridge Capital, Quona Capital, and Benett Coleman & Co. Agarwal owns the majority of the business, with the private equity investors owning about 30 per cent, and 10 per cent of the company owned by its employees.

IndiaMart also has plans to file for an initial pubic offering (IPO) in India in the next 12 to 18 months, said Agarwal.

 

IndiaMART ropes in Amarinder Dhaliwal as Chief Product Officer

Economic Times

Online marketplace IndiaMART has appointed Amarinder Dhaliwal as its chief product 14195236_10154295840780027_1472032071197980498_oofficer, said a company statement issued today.

Dhaliwal will work towards strengthening the user experience, creating a consumer-centric brand and leading product innovation. He is an an IIM Ahmedabad and IIT Delhi alumnus, and comes with an experience of more than 20 years.

Prior to joining IndiaMART, Dhaliwal was the chief operating officer of Micromax YU, where he created and launched YU as an innovative mobile brand. He has also had an entrepreneurial stint as the co-founder and CEO for private label e-tailer DoneByNone. Apart from internet and e-commerce, his experience spans across media businesses, finance and investment banking.

“With his entrepreneurial and intrapreneurial experience, Dhaliwal will spearhead the product innovations and development at IndiaMART. He is a key hire for us and we look forward to his leadership in ramping up our value proposition to cover all aspects impacting SMEs,” said Dinesh Agarwal, founder and CEO, IndiaMART.

Dhaliwal has successfully created and led highly engaging digital brands in the past and his expertise will help the firm in creating a globally competitive product experience for its users, said Agarwal.

‘Dhaliwal’s expertise in the internet space will be an asset as IndiaMART creates an ecosystem that’s at the intersection of commerce, payments and finance to serve millions of Indian SMEs that have come online,” said Bhavani Rana, partner at Amadeus Capital, investor of IndiaMART.

“As internet becomes pervasive, IndiaMART is well positioned to leverage its understanding of SME needs as for a lot of SMEs their first brush with internet was through IndiaMART. I am happy to join the strong leadership team here that has digitised millions of Indian businesses. The company’s vision to build a customer-centric brand excites me the most about my role,” said Dhaliwal on his appointment.
IndiaMART offers a platform and tools to over 26 million buyers to search from over 33 million products and get connected with over 2.2 million suppliers. Founded in 1996, the company has over 3,500 employees located across more than 65 offices in the country. Its existing investors include Intel Capital, Amadeus Capital, WestBridge Capital and Quona Capital.

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My Summer of 2016 at IndiaMART

Working as an intern at IndiaMART has perhaps, been one of the most amazing experiences of my life.

Initially I thought of IndiaMART as some boring or dull company, but once I entered the office, my viewpoint completely changed. IndiaMART has one of the coolest offices in the industry. It is colorful, boisterous and the work environment is very lively and vibrant.

I believe you can gain maximum benefit from people’s experience and knowledge when they are the most approachable and patient while guiding you in your work and I was fortunate enough to have such guides during my brief tenure at IndiaMART.

On my first day of joining itself, I was treated as an active member of IndiaMART which made me give my best performance every time I undertook a task. I was introduced to my team and got a very warm welcome from the entire department. Everything was new for me and hence I could feel myself “on pins and needles”. I was very nervous, but at the same time, I was very excited as it was my first industrial internship. All my apprehensions regarding my work profile and how I’ll manage things came to an end when I met my mentor who was not only kind and knowledgeable but also knew how to teach a trainee the nuances of internship program which I have experienced for the first time.

 

I have learnt ample of things from IndiaMART. Today, I see myself as a completely changed person. IndiaMART not only gave me the much needed reality check to face and understand the industry competition but also gave me some really good friends and teachers that I will cherish for an entire lifetime. The industry exposure that I received during my internship will always be valuable guide for me in the future. The working environment at the company was that of encouragement, warmth, innovation and synergy. These qualities make IndiaMART a stand apart.

The amount of dedication and professionalism I saw in the employees working for the company motivated me even more to work hard in life. During the eight weeks that I was at IndiaMART, I also understood the mindset and functioning of the corporate world.

I can write a pamphlet, wait, maybe a novella about this. But let me use a pun to describe this: I feel I belong to the team.

Most of the things I have bragged about above? Courtesy of ideas and wisdom from some of the best mentors, guides, teammates, I have.

IndiaMART has surely played a pivotal role in my life!

About Srishti Manak

Srishti Manak worked as the Public Relations Intern at IndiaMART from June’16 – July’16. She is a student of B.A.  Journalism (Hons.), Delhi University.

 

IndiaMART, AKTU sign MoU to boost skill development

Business Standard

India’s largest online marketplace IndiaMART and A P J Abdul Kalam Technical University (AKTU) has announced signing of a Memorandum of Understanding (MoU) to promote skill development and equal employment opportunities to the affiliated colleges of the University.

A one of its kind association, the university is collaborating with a corporate to provide employment opportunities to its cluster of colleges by organizing pool-campus placement drives.

More than four lakh students will be benefited from this MoU as IndiaMART will provide industry trainings and job opportunities to the students of various under-graduate and post-graduate courses like B.Tech, M.Tech, MBA, MCA which are affiliated to the University.

“In the past four years, IndiaMART has hired over 700 professionals from AKTU. These professionals have shown immense talent in various roles like product management, technology and sales. We are excited about this association,” said Founder and Chief Executive Officer of IndiaMART, Dinesh Agarwal.

“We will also provide relevant training to the students, especially in the Digital space. I believe that industry should reach out to the educational institutions to fill the skill gap by providing them with a holistic and job-centric learning environment. Our efforts will be directed towards boosting employability and industry-readiness of these students by preparing them for the hiring needs of corporates,” added Dinesh Agarwal.

“This is a path-breaking association for AKTU as we will be able to provide equal employment opportunities to our affiliated colleges. The students will gain a lot from the expertise of IndiaMART in the digital space and the industry training that they will offer,” said Vice Chancellor of AKTU, Vinay Kumar Pathak.

IndiaMART seeks to hire management and technology graduates from the University. The company had said earlier that it is planning to expand its team in the financial year 2016-17 to expedite growth and customer acquisition. This MoU will create a room for career growth of the students.

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IndiaMART signs MoU with APJ Abdul Kalam Technical University (AKTU) to boost skill development & employment

IndiaMART, India’s largest online marketplace and APJ Abdul Kalam Technical University, Asia’s largest technical university have signed a Memorandum of Understanding to promote skill development and equal employment opportunities to the affiliated colleges of the University.
This is a one of its kind association as it is for the first time that a University is collaborating with a corporate to provide employment opportunities to its cluster of colleges by organising pool-campus placement drives. More than 4Lakh students will benefit from this MoU. IndiaMART will provide industry trainings and job opportunities to the students of various under-graduate and post-graduate courses like B.Tech, M.Tech, MBA, MCA which are affiliated to the University.
“In the past 4 years, IndiaMART has hired over 700 professionals from AKTU. These professionals have shown immense talent in various roles like product management, technology and sales. We are excited about this association as apart from extending our internal employment opportunities to these students, we will also provide relevant training to the students, especially in the Digital space. I believe that industry should reach out to the educational institutions to fill the skill gap by providing them with a holistic and job-centric learning environment. Our efforts will be directed towards boosting employability and industry-readiness of these students by preparing them for the hiring needs of corporates ,” said Dinesh Agarwal, Founder & CEO of IndiaMART.
IndiaMART will also assist the University in revamping their curriculum according to the latest industry requirements. The first step in this direction would be to implement a digital marketing course and initiate project based learning for the students.
“This is a path-breaking association for AKTU as we will be able to provide equal employment opportunities to our affiliated colleges. The students will gain a lot from the expertise of IndiaMART in the digital space and the industry training that they will offer,” said Vinay Kumar Pathak, Vice Chancellor, AKTU.
IndiaMART seeks to hire management and technology graduates from the University. The company had said earlier that it is planning to expand its team in the financial year 2016-17 to expedite growth and customer acquisition. This MoU will create a room for career growth of the students.