Business

L&T unveils B2B e-commerce platform for industrial products

 Larsen & Toubro Ltd. (L&T) has unveiled L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.

This platform would empower businesses, especially MSMEs, to enable them source their industrial supplies pan-India, digitally and cost-effectively, the company said.

“There lies a critical need to digitalise supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises,” said CEO & MD S.N. Subrahmanyan. “With the launch of L&T-SuFin, we take yet another leap in our digital transformation journey, building on our legacy of trust and deep understanding of the ecosystem.” he added.

“We are confident about L&T-SuFin transforming the B2B marketplace for industrial products. Making it easily accessible, convenient, and transparent, even for the customers in and beyond tier-1 and tier-2 cities, thereby enabling a level playing field and inclusive growth for all businesses,” he said. 

L&T-SuFin hosts a vast selection of industrial products across over 40 categories as well as financing and logistics support from carefully vetted partners. For sellers, it is an opportunity to broaden their markets, the company said.  “It will enable businesses by providing them with a complete ecosystem of seller tools, delivery, and negotiations on a single platform,” L&T said.

L&T-SuFin will host KYC-verified sellers and buyers vetted by L&T and guarantee a last-mile delivery to more than 15,000 pin codes. 

The platform will provide working capital to MSMEs from a large array of banks and other financial institutions at attractive interest rates. 

It 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, the company said.


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Printable version | Jul 3, 2022 10:20:02 am | https://www.thehindu.com/business/lt-unveils-b2b-e-commerce-platform-for-industrial-products/article65202305.ece