IndiaMART, India’s largest online B2B marketplace, has released the Annual Report 2021-2022 on the central theme of ‘Empowering Businesses’.
As per the report, IndiaMART’s performance is reflected in the collections from customers that grew by 32% to Rs 9,317 million, Deferred revenue witnessed a growth of 25% to Rs 9,066 million, and Paying Subscription Suppliers grew from 152,394 as of March 2021 to 169,324 as of March 2022.
IndiaMART’s strong network effect expands across 149 mn registered buyers, 7.1 mn suppliers, and 83 mn products and services across 95000+ categories. The 6.9 million suppliers have listed their products on IndiaMART’s platform free of cost to promote and grow their business online, further aiding the digital inclusion of MSMEs operating in our ecosystem.
To strengthen its resource, IndiaMART made a focused investment in the expansion of channel sales partners and hired ~ 1,000 new employees across product, sales, and service teams.
Throwing light on the way forward, Dinesh Agarwal, Founder & CEO, IndiaMART, said in the report, “We will continue to augment our technology and product suite for further ease of use for our customers. Our negative working capital business model, strong zero-debt balance sheet, category, regional diversification, and brand awareness will further drive our efforts to realise our customer promise. Coupled with the rapid growth in internet adoption & mobile penetration, we are well poised to leverage the future growth opportunities and are evolving accordingly.”
The report also mentioned that IndiaMART leverages its proprietary behavioral data-driven algorithmic matchmaking to connect businesses with relevant buyers. It made regular investments in Artificial Intelligence (AI), Machine Learning (ML), and Data Analytics across various parts of the user journey to drive a better experience. Along with strengthening its technologies, IndiaMART also launched an exclusive service for Indian exporters ‘IndiaMART Verified Export Services’, which enables 50,000 export-oriented sellers on IndiaMART’s platform to expand their business across the globe.
The company has invested more than $100mn in companies offering commerce and business enablement solutions in the areas of accounting, logistics, supply chain, vertical commerce, financing, and other software. Identifying accounting as an important need for businesses; it acquired Busy and Livekeeping and invested in Vyapar & Real books and is now available in all segments of accounting.
Talking about promoting a sustainable future along with creating a long-term sustainable value for its stakeholders, the report states that “As of March 31, 2022, we have 1.2 million products listed on the platform that fall in the sustainable category and we have serviced 0.9 million unique buying requests for green products by providing them information of relevant suppliers of such products. Furthermore, IndiaMART continues to make efforts to enhance its operational eco-efficiency thereby lowering its carbon footprint.”