“An Indian Techie travels back home to start an e-commerce in his motherland”
Agarwal, an Indian techie thought to be at the peak of success while in working in the USA with HCL Technologies back in 1995. However, when his own mother land authoritatively opened up the internet for the public he also decided to move back to his place with a thought of starting an online journey.
For couple of months Agarwal was engaged with certain online business ideas but at last he ended in launching IndiaMART, a business-to – business e-commerce portal. Gradually, the IndiaMART is all set for IPOs.
Through his critical observation of the hurdles that Indians faced in marketing their manufactures, handicrafts and other SMEs internationally, Agarwal reached the conclusion to establish a B2B-e-commerce. Moreover, Indian businessmen also had to pay high amount to the agents working abroad for them. Encountering such complications in the business path Agarwal wanted to publicize Indian manufacturers worldwide in order to make it easy and accessible for the Indian exporters. Thus, he decided to reveal Indian Business information globally.
In 2008 China emerged as a top business dealer internationally as a consequence Indian traders had to face difficulty and they set back. Simultaneously, internet was accessible widely in India which persuaded the IndiaMART to divert its focus from international routes to the business in sub-continent.
Recently, the 22 years old online portal deals with manufacturing and industrial tools, automobiles and fashion accessories. It has 4.7 million suppliers and 60 million buyers and competes with the likes of Alibaba, TradeIndia and ExportersIndia. Moreover, it is looking forward to expand its business to larger companies which are in keeping with the modern technological trends. Till now, IndiaMART has lift up approximately, Rs200 crore from venture capital investors, Intel Capital, Amadeus Capital, and Accion Frontier Inclusion Mauritius as well.
According to the founder of IndiaMART, it is offering maximum routes to the investors and making an ease for their business careers. Furthermore, IndiaMart’s current investors and promoters, Dinesh Agarwal and Brijesh Agarwal, deciding to sell around 4.2 million shares through the listing, according to the company’s draft red herring prospectus filed with the Securities and Exchange Board of India on June 29.
According to one of the analysts, IndiaMART is making a good run on the stock market. Pranjal Srivastava, senior vice-president and head of equity capital markets at ICICI Securities is also of the opinion that B2B e-commerce is distinguish from other traditional e-commerce platforms. It is rapidly earning fame. It has made a huge progress thus the demand is yet to come.