Hey there! Are you ready to learn everything there is to know about IndiaMART? Get ready, because this is the ultimate one-stop-shop for all things B2B in India. Since 1996, they’ve been connecting buyers and sellers from all over the country, making them one of the biggest and most trusted online marketplaces around. With over 5 crore registered users and 5 crore products listed, you’re sure to find exactly what you need.
Their mission is simple: to help businesses find the best deals and suppliers and reach a ton of potential buyers. So if you’re looking to grow your business, or just need to find the right products and services, IndiaMART has got you covered. It is also one of the top dropshipping companies in India. Let’s dive in and see what they’re all about!
Founders and Team Behind IndiaMART
Dinesh Agarwal is the co-founder and CEO of IndiaMART. He grew up in a business-oriented family in Uttar Pradesh and went to school in a Hindi-speaking area. After getting his degree in computer science, Dinesh worked at a few different places before scoring a job at HCL in the US. Before starting this, he was a senior system analyst at HCL and also worked as a software engineer at CDOT Alcatel.
Brijesh Agrawal is the co-founder and director of IndiaMART. He studied business management at the University of Lucknow and got his PGDBM from NIILM. After finishing up his studies, Brijesh joined forces with Dinesh to start IndiaMART. As of March 2021, the company had a team of around 2,754 people working in various cities across India.
It has rolled out a bunch of taglines over the years, like “Kaam Yahin Banta Hai” and “Bada Aasaan Hai.” But the very first tagline they came up with was “The Global Gateway To Indian Marketplace.”
Whether you’re a buyer or a seller, this makes it easy to do business and connect with people all over the world. They’ve got everything you need to succeed in the world of trade.
How IndiaMart Works?
1) To use this as a buyer, you will first need to create a profile by registering on the platform.
2) This is a simple process that requires you to provide basic information such as your name, email address, and mobile number.
3) Once you have created a profile, you can start searching for products and services by using the search bar or by browsing through the various categories listed on the site.
It offers a wide range of products and services, including raw materials, industrial products, consumer goods, and more. You can also find service providers such as manufacturers, wholesalers, distributors, and suppliers on the platform. To contact a supplier, simply click on their profile and send them an inquiry through this platform. You can negotiate prices and terms directly with the supplier, and use IndiaMart’s payment gateway to securely complete transactions.
IndiaMART: Your One-Stop Shop for All Things B2B
It offers a wide range of products and services for businesses in a variety of industries. Some examples include:
|Industrial goods and supplies|
|Hand tools and power tools|
|Packaging and printing materials|
|Electronics and electrical equipment|
|Textiles and clothing|
|Chemical and pharmaceutical products|
|Agricultural and food products|
|Construction and real estate|
|Health and beauty products|
In addition to these products, It also offers a variety of services such as;
It provides expert guidance and advice to businesses of all sizes, helping them navigate the ever-changing world of commerce and grow their operations.
Logistics and transportation
It can help businesses find reliable and cost-effective logistics and transportation solutions to ensure that their products reach their customers on time and in good condition.
It offers financing options to help businesses secure the funding they need to grow and expand.
Marketing and advertising
It provides a range of marketing and advertising services to help businesses get the word out about their products and services and reach a wider audience.
IndiaMart Verified Suppliers
To ensure the quality and reliability of the products and services offered on its platform, it has a verification process for suppliers. Verified suppliers are required to provide proof of their business, such as GST registration and company documents.
Working with verified suppliers can give you added peace of mind, as you know that you are dealing with legitimate businesses that have been vetted by IndiaMart.
For buyers looking for even more benefits, it offers a premium membership program called IndiaMart Plus. IndiaMart Plus members have access to exclusive deals and discounts, as well as personalized support from this team. They also receive priority listing on the platform and have access to advanced search filters.
IndiaMart for Sellers
It is not just for buyers – it is also a great platform for sellers looking to reach a large audience of potential buyers. By creating a seller profile on IndiaMart and listing your products, you can showcase your products to a wide audience of buyers from all over India. It also offers various marketing tools and services to help sellers promote their products and increase their sales.
IndiaMart Trust Seal
To help buyers identify trustworthy sellers on the platform, it has a Trust Seal program. Sellers who have obtained a Trust Seal have been vetted by IndiaMart and have proven their credibility and reliability. As a seller, obtaining a Trust Seal can increase your credibility and boost your chances of making sales.
IndiaMART’s Accomplishments and Recognitions
- Nominated as one of the top three at the Emerging India Awards in 2008
- Red Herring 100 Asia Awards in 2008
- Manthan Award for Buy Leads Under E-Business & Financial Inclusion in 2013
- Best Business App at GMASA 2017
- Best Business App at Drivers of Digital Summit & Awards in 2018
- Best Online Classified Website at Drivers of Digital Summit & Awards in 2018
- Best Online Classified Application at Drivers of Digital Summit & Awards in 2018
- India Law Award for Technology, Media, and Telecommunication In-House Legal Team in 2019
- Special mention for Video Content in a Business Website at Video Media Awards and Summit in 2019
IndiaMART’s Finances: The Inside Scoop
Here’s a breakdown of IndiaMART’s financials:
- In Q4 of FY22, the company’s consolidated revenue was Rs 201 crore, an 8% increase from Q3’s Rs 188 crore. Their total operating revenue for the year was Rs 753 crore.
- The company saw a decline in profits in Q4 FY22, going from Rs 70 crore in Q3 to Rs 57 crore in Q4.
- Its EBITDA was Rs 57 crore in Q4 FY22, with an EBITDA margin of 28%. This was a drop from the 48% margin they had in Q4 FY21.
- In FY 2019-2020, its revenue was Rs 707 crore, compared to the Rs 507 crore they reported in FY 2018-2019. Their net profit for FY 2019-2020 was Rs 147 crore, up from Rs 20 crore in the previous fiscal year. Collections from customers also increased by 10%, going from Rs 671 crore in FY 2018-2019 to Rs 738 crore in FY 2019-2020.
- Despite the challenges of the COVID-19 pandemic, its total revenue in FY21 was Rs 756 crore, a 7% increase from the Rs 707 crore they made in FY20. Their EBITDA saw a 94% YoY growth, going from Rs 169 crore in FY20 to Rs 328 crore in FY21.
IndiaMart’s Acquisitions: Building a Stronger Business Network
It has made a few strategic acquisitions over the years to strengthen its position as a leading online B2B marketplace. They fully acquired the accounting platform Busy Infotech for Rs 500 crore in January 2022 and Playcez back in August 2013.
In February 2022, it also acquired a 26% stake in IB Monotaro, a Japan-based company operating in India under the brand name “Industry buying.” This company specializes in supplying industrial and business products for eCommerce businesses. As part of the deal, It purchased 810K shares from Emtex Engineering for a total consideration of Rs 104.2 crore. The goal of this acquisition was to provide an end-to-end commerce experience and better serve B2B businesses in India.
With these acquisitions, IndiaMART is positioning itself to be a key player in the world of online B2B commerce.
IndiaMART’s Competition: Who’s Giving Them a Run for Their Money?
It is a big player in the world of online B2B commerce, but they’re not the only game in town. Some of their top competitors include Tradeindia, Yellow Pages, Exporters India, Amazon, Flipkart, Tradekey, and Udaan. While there are many newer eCommerce companies popping up in India, it has managed to maintain its position thanks to its strong network and years of experience in the field.
That being said, competition is always good for businesses, and it helps to keep everyone on their toes. So even though it is a dominant player, they still have to watch out for these other companies as they continue to grow and evolve.
IndiaMART’s Business Model: How They Make Money and Help Others Do the Same
It is one of the oldest and most trusted B2B eCommerce marketplaces in India. They operate on a subscription-based model, where suppliers pay a fee to list their products and services on the platform. While buyers can use IndiaMART for free, the main source of revenue for the company comes from these subscription fees and the sale of “request for quote” requests that buyers can make. It also offers payment facilitation services and earns advertising revenue by allowing individuals and businesses to post ads on their platforms.
In short, IndiaMART helps businesses buy and sell products and services, and they make money by charging a fee for these services. It’s a win-win situation: businesses get access to a wide audience of potential buyers, and it helps facilitate these transactions and earns a profit in the process.
To put the cherry on top
In summary, IndiaMART is a fantastic platform for businesses in India looking to buy and sell products and services. Whether you’re a small start-up or a large corporation, it has something to offer. With a wide range of products and services, verified suppliers, and a secure payment gateway, it’s no wonder that this is considered a go-to destination for businesses of all sizes.
So if you’re looking to connect with other businesses and make some great deals, IndiaMART is definitely worth checking out.
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Frequently Asked Questions ( FAQ )
Is IndiaMart a free platform?
Yes, it is a free platform for both buyers and sellers. There are no fees for creating a business profile or browsing products and services on the platform. However, some premium features and services may be available for a fee.
How do I find products or suppliers on IndiaMart?
It has a comprehensive search feature that allows you to find products or suppliers based on various criteria, including product category, location, and price range. You can also use the “Advanced Search” feature to narrow your search results and find more specific products or suppliers.
Can I sell my products on IndiaMart?
Yes, it is a platform for businesses of all sizes to sell their products and services. If you are a manufacturer, supplier, or exporter looking to sell your products on IndiaMart, you can create a business profile and start listing your products for sale.
Does IndiaMart offer support for buyers and sellers?
Yes, it offers support for both buyers and sellers through its customer support team. If you have any questions or issues while using the platform, you can contact their customer support team through the “Contact Us” form on the website or by calling the customer support hotline.
How do I leave a review or rating for a seller on IndiaMart?
Leaving a review or rating for a seller on IndiaMart is a simple process. After completing a transaction with a seller, you will receive an email requesting your feedback on the transaction. You can then click on the link provided in the email to access the review form and leave a rating and written review for the seller. Your feedback will be visible to other buyers on the seller’s business profile, helping them make informed purchasing decisions.