NEW DELHI: The number of small and medium enterprises (SMEs) in the engineering sector, that have been marketing their products on the B2B portal, nearly doubled to 44,000 last year, said IndiaMART, an online B2B marketplace.
Mr Dinesh Agarwal, Founder and CEO, IndiaMART.com, said, “This shows that in volatile market conditions, SME units in the engineering sector have been looking for low cost channels to market themselves. Established as well as upcoming entrepreneurs in the engineering sector have put their faith in the internet as it has become a game-changer for them.” Almost 25,000-engineering SMEs had marketed their products using the company's portal in 2010.
The jump in the number of SMEs going online also displays that the level of Internet acceptance has risen significantly for such businesses. India's engineering sector make up for 12% of the total economy. SMEs have been exploring new mediums to market their products since the age old ways of promotion have been affecting their business amid increasing competition and rising globalisation.
IndiaMART offers B2B marketing platform both in domestic and international markets for SMEs.