First-of-its-kind study on Indian MSMEs conducted by IAMAI
Study accords a leadership status for IndiaMART.com with 60 percent market share
99 per cent of B2B suppliers on the Internet are making use of online B2B marketplaces already.
IndiaMART.com has been adjudged as the largest online B2B marketplace in India in a first-of-its-kind study conducted by the Internet and Mobile Association of India (IAMAI) on Micro, Small and Medium Enterprises (MSMEs) in India.
The study, titled ‘ICT adoption among MSMEs in India’, was unveiled by Mr Dinesh Rai, Secretary, Ministry of Micro, Small and Medium Enterprises, Government of India at a press conference held at the India International Centre in New Delhi today. The event was attended by industry leaders including Info Edge CEO Sanjeev Bikhchandani, P. Dey, General Manager, National Small Industries Corporation (NSIC) and Sridhar Seshadri, Head of Online Sales, Google India.
Confirming its leadership status, the study accords a leadership status for IndiaMART.com with 60 percent market share in India’s online B2B marketplace. The study states that 85 percent of B2B suppliers across India prefer IndiaMART.com as their first choice when it comes to online B2B marketplaces.
Commenting on the accolade, Dinesh Agarwal, Founder & CEO - IndiaMARTaid, “We are honoured to be named India’s largest online B2B marketplace. This recognition certainly acknowledges our market position and will help us consolidate our presence further. It should also inspire more companies, which have so far never seen the limelight of national and international visibility, to join IndiaMART.com and get the real flavour and benefits of online marketing.”
IAMAI has come out with the study at an appropriate time when more and more MSMEs are getting online to connect with their buyers all around the world. The study also highlights other usage aspects of ICT (Information and Communication Technologies) among Indian MSMEs. This is a first of its kind study done in India with MSMEs as a focus.
Unveiling the study, Dinesh Rai said, “SMEs are an important part of industry because they help create the maximum jobs. And ICT usage helps SMEs increase their productivity and competitiveness. This study will be of great use to this sector.” Congratulating IAMAI for the study, Rai said the government has earmarked a budget of Rs 160 crore to develop and facilitate ICT applications for MSMEs.
Info Edge CEO Sanjeev Bikhchandani said, “It is heartening to note that 99 percent of B2B suppliers on the internet are making use of online B2B marketplaces already. This is perceptibly helping reduce marketing cost for smaller establishments and increasing efficiency. B2B marketplaces like IndiaMART.com are not only boosting the export climate, but also helping push domestic trade.”
“This study is very timely because Indian B2B market trends and growth trajectory has made a mark worldwide also. In fact the top global online B2B marketplace worldwide list has some prominent Indian players,” said P. Dey, General Manager, NSIC while congratulating IndiaMART.com on its success.
Sridhar Seshadri, Head of Online Sales, Google India, stressed on the importance of the SME sector in the Indian context. “The plethora of a few thousand small companies can make an impact which is far greater than larger enterprises. This study will really help in galvanizing the SME and MSME sector to become online-savvy and more focused on online marketing as their growth path.”