IndiaMART Emerges Key Contributor to growth of SMEs in Engineering Sector
-Online activity among SMEs on B2B marketplace almost doubles in the sector in 2011 as compared to 2010
New Delhi, 30th January, 2012: India's engineering sector expresses the best of country's economic development constituting 12% of the total economy. Fortifying its presence further, IndiaMART.com, India’s largest online B2B marketplace, has emerged on top as a key contributor to the growth of Small & Medium Enterprises (SMEs) in this sector. These enterprises are leaping ahead and capturing new markets with holistic online business solutions provided by IndiaMART.com.
IndiaMART.com provides an impressive dominance to these SMEs over both, domestic and international markets through its marketplace. The company informs that online activity of SMEs in engineering sector saw almost double-fold growth in 2011 as compared to 2010. While there were over 25000 companies active on its marketplace in 2010, the number rose to over 44000 in 2011. This shows that in volatile market conditions, SME units in engineering sector have been looking for low cost channels to market themselves. It also indicates that the level of internet acceptance has increased remarkably for such businesses.
Appreciative of this growth in online adoption among engineering sector SMEs, Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com, said, “Engineering sector is the backbone of industrial infrastructure of any economy including that of ours, thus, a prominent sector. SMEs in this sector need to establish trust and adopt new technologies to build their global competitiveness and increase their customer base. On IndiaMART.com, we saw a huge surge in SME registrations last year. Such a move bodes well for the sector, and would expand its reach and deliver faster results. We are proud to have been a growth partner of these enterprises.”
When a more than 30 years old company, Rajco Scientific and Engineering Products, involved in manufacturing engineered material testing equipments, stepped into the international markets, it soon realised that Internet is the ‘enabler' that would open the doors to success. Mr. P Sethi, Owner, Rajco Scientific And Engineering Products says that there is a great demand for material testing equipments like jaw crusher, laboratory jaw crusher in Middle East, Bangladesh, etc. Enrolling with IndiaMART.com helped them to explore markets beyond geographical boundaries, expand business and clinch repeated orders from their clients.
Opting for traditional ways of promotion and 'word of mouth publicity' was no longer considered as a major source of business leads generation by Mr. MS Shanbhag, Managing Director, Shachi Engineering Pvt Ltd. once he understood the importance of business promotion via internet. He noticed substantial growth in the number of queries for industrial spray dyers manufactured by his company after his website was developed by IndiaMART.com. For the last eight years, Shachi Engineering has been with IndiaMART.com and internet has become an indispensable part of its business now.
To climb the ladder of success, Mr. Javed Hussain, Managing Director, Muez Hest India Pvt. Ltd. took guidance from IndiaMART.com to generate business and develop growth strategies for online promotion of his company. With good volumes of genuine enquiries flowing in and amplified market presence due to his association with IndiaMART.com, Mr. Hussain especially recommends the budding entrepreneurs to bring it on board and experience the difference that IndiaMART.com makes with its services.
Established as well as upcoming entrepreneurs in engineering sector have put their faith in internet as it has become a game changer for them. IndiaMART.com understands these needs of Indian SMEs and always innovates to provide better online business solutions to them.
IndiaMART.com is India's largest online B2B marketplace for Small & Medium Size Businesses, connecting global buyers with suppliers. The company offers a platform & tools to over 1 million suppliers to generate business leads from over 5 million buyers, who use the platform to find reliable & competitive suppliers. The company has over 3500 employees located across 80+ offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd.
Products & Services
IndiaMART.com offers products that enable small & medium size businesses generate business leads (online catalogs/store-fronts), establish their credibility (third party verified trust profile) and use business information (finance, news, trade shows, tenders) for their business promotion.
For more information, please visit: www.indiamart.com/corporate/press-section.html
IndiaMART InterMESH Limited
Advant-Navis Business Park,
Plot No-7, 8th Floor, Sec-142, Noida
Uttar Pradesh, INDIA PIN - 201 301
Manager - Corporate Communication
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