Alibaba is ramping up its B2B eCommerce efforts in India just over a year after the conglomerate introduced its most recent SME-serving platform in the nation.
Reports on Monday (Sept. 19) said China-based Alibaba is strengthening its B2B efforts in India by partnering with logistics companies DHL and Delhivery to provide solutions to online suppliers. The company will also be collaborating with local banks to provide financing to its online sellers, reports said.
These solutions will target Alibaba’s B2B platform in India, reports added, and will provide both domestic and international support for suppliers.
IDFC Bank, Aditya Birla Finance and Kotak Mahindra have inked agreements with Alibaba to provide financing to sellers using Alibaba’s B2B eCommerce platform, with a focus on SMEs and startups.
Speaking to reporters in India, an unnamed source with information on Alibaba’s plans said that the company is looking to finally get its B2B services off the ground.
“Their B2B platform has been around for years, but they haven’t been able to make much progress scaling it,” the source said. “Now, it seems, they are seriously looking to focus on the B2B side by helping sellers with working capital and logistics. They’ll also bring in Chinese vendors onto the site as they have great depth in the merchant ecosystem back home.”
Alibaba has had a presence in India for several years, but last year, the company introduced its most recent B2B service in the country, a trade facilitation center that provides a digital platform for suppliers and SMEs to link with logistics and financial services.