The platform would help MSMEs to digitally source their industrial supplies across India
The platform would help MSMEs to digitally source their industrial supplies across India
Bengaluru
There is an urgent need to digitize supply chains to improve the overall global competitiveness of Indian industry, particularly small and medium-sized enterprises, as the country aspires to become a $5 trillion economy, said SN Subrahmanyan, CEO & MD, Larsen & Toubro.
To meet this market requirement, on March 8, L&T launched L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.
The platform, developed on the basis of L&T’s expertise in manufacturing and engineering, procurement and construction, would help MSMEs to digitally source their industrial supplies across India. It would also give small businesses access to working capital from banks and other financial institutions, the company said in a statement.
The platform already has 15,000 sellers and about 20,000 registered users. L&T-SuFin will host KYC verified sellers and buyers who have been verified by L&T and will guarantee last mile delivery to over 15,000 PIN codes. The platform will also provide an online transaction facility for trading products and enabling services with a payment and billing mechanism that will help traditional businesses take on their newer digital-native competitors, the company said.
