Industry

L&T launches B2B e-com platform to help MSMEs in sourcing industrial products, services

Image for representative purposes only.

Image for representative purposes only. | Photo Credit: Reuters

Bengaluru

There is a critical need to digitalise supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises, as the country aspires to become a $5 trillion economy, said S. N. Subrahmanyan, CEO & MD, Larsen & Toubro.

To address this market requirement, L&T on March 8 launched L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.

The platform, designed based on L&T’s expertise in manufacturing and engineering, procurement and construction, would help MSMEs digitally source their industrial supplies pan-India. It would also offer small businesses access to working capital from banks and other financial institutions, said the company 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 vetted by L&T and guarantee a 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 settlement mechanism that will aid traditional enterprises to take on their newer digital-native competitors, as per the company.


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Printable version | Aug 10, 2022 8:11:07 am | https://www.thehindu.com/business/Industry/lt-launches-b2b-e-com-platform-to-help-msmes-in-sourcing-industrial-products-services/article65202714.ece