How Has Been the Journey of B2B Business Concept in India?

Published: 24th August 2010
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B2B marketplace has played an important role in the economic growth of many countries. The countries like China and India have used this business model intelligently to enhance their trading power. The world market has become a relatively smaller place than before and these countries are securing their large shares in globalization.

In a country like India, there is no scarcity of manufacturers and suppliers, but limited exposure has not let them groom in the past. Today, the b2b business in India has become a cradle for the Indian firms to see the world. The following discussion is about the past, present and future of the b2b business scenario in India.

Growth of Telecommunication
The telecommunication sector of India is going through its golden era. It has been the growth of telecommunication companies in the country that has made it an important part of the WWW network. Apart from many other benefits offered by the internet revolution, the B2B marketplace too has developed its roots in the import export business of the country. Now, the Indian manufacturers, distributors, suppliers and other role players have the right platform to entertain the foreign buyers.

Surpassing the Language Barrier
China took the advantage of the B2B marketplace long time ago to overcome the language barrier in international trade. Though, Indians are well-versed in communicating in English, there are many regional manufacturers who are bound by the language barrier to find global exposure for their businesses. B2B global markets have effectively solved this problem by building a bridge between foreign and Indian business buyers and sellers.

B2B for All Size Enterprises
B2B business in India is a model that has inspired the growth of small and medium sized enterprises (SMEs). Some experts donít hesitate to include micro business enterprises in this scenario. The present size of the SME sector in India is $ 140 billion and it is growing at an extremely fast pace. Out of the total industrial output in India, 45 percent is contributed by these enterprises.

As far as export figures are concerned, the small and medium size enterprises contribute 40 percent of the total Indian export. Needless to say, the B2B marketplace has a great contribution for the Indian firms to achieve such impressive figures. Impressed by the growth rate, the government has initiated the National Manufacturing Competitiveness Programme to enhance quality manufacturing especially in the SME sector.

However, it is not that the B2B business in India works as a model only for the SME sector. Even the large enterprises are taking benefit out of it and spreading their roots to the global markets. Thus, the B2B model is encouraging growth for all types of enterprises in the country.

Talking about the future of the B2B marketplace scenario in India, there is huge scope for improvement in the areas like rural advancement, technology, quality management, skills development, finance and so on. Once the full potential of these areas will be exploited, the economic growth rate of the country will find no limit.

Author has wide knowledge of B2B Marketplace and Business industries. For latest updates and business trade leads in B2B space, Visit online trade portal

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