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Over the past decade, when everybody was focusing on solving problems of end consumers, Rahul Garg, founder and CEO of Moglix, was looking to find pain points of businesses and how to resolve them. He started out with a simple statement in 2015: “How can we re-imagine B2B commerce with technology?” And he entered a segment which had not seen innovation in a long while, and that is how the B2B e-commerce startup came in to being.
In an increasingly connected world its surprising that millions of small and medium enterprises are still unable to benefit from the fruits of online commerce by getting on B2B platforms.
Kolkata: Ratan Tata-backed B2B player Moglix has quietly forayed into eastern India, starting with Kolkata. With a planned investment of $1 million over the next 12 months at the Kolkata centre, the industrial commodities procurement firm looks to capture around 20% of the market in the east over the next year.
Ratan Tata backed B2B commerce company, Moglix has said Uno Minda Group has implemented the formers vendor management portal, that will help achieve digital transformation in its procurement process. Uno Minda Group has more than 30 manufacturing plants and over 2,000 BOM suppliers across India. The adoption of the solution will help the company to do away with excessive manual effort that resulted in loss of time and information in transition.
Moglix, a B2B e-commerce startup aims to digitally transform supply chain of manufacturing sector in India. Moglix is backed by International Finance Corporation (IFC), Accel Partners, Jungle Ventures and industrialist Ratan Tata among others. In an interaction with ET, Rahul Garg, founder & CEO, Moglix discusses the B2B market in India, impact of GST on manufacturing, Moglix plans and more.
New Delhi, Feb 25 (ANI): Amid the ongoing digitisation drive, B2B e-commerce platform Moglix opined that although India’s manufacturing sector has immense potential, its contribution remains a mere 16 percent to GDP, largely due convoluted tax filing procedures and lack of adequate technical know-how.
Startups such as Taskbob, Shopo and Stayzilla, some known names in the space, had to shut up shop in 2017 despite they received funding, rendering many employees jobless.
As Finance Minister Arun Jaitley unveiled the Union Budget for FY 2018-19, It garnered mixed reactions from industry honchos. The budget addressed the key aspects of the economy with focus on education, agriculture, science, technology, rural economy, healthcare, MSME and infrastructure. Ease of doing business’ among MSME players was evident in the announcements made by FM Arun Jaitley.
Budget 2018: How Arun Jaitley can power up millions of individuals, entrepreneurs with start-up and digitisation boost
Budget 2018: Fintech and digital payment companies are betting big on the upcoming Union Budget and have many expectations from FM Arun Jaitley, particularly in view of the Modi government’s digitisation drive.
Moglix is an Asia based e-commerce company that specialises in B2B procurement of industrial products. It extends its expertise in supply chain to solve problems related to digitisation of supply chain as well as makes them GST compliant. The company has worked with more than 250 leading organisations such as GSK, Havells, Yamaha, Lumax and Tata Chemicals, and over 100,000 SMEs across India.
Moglix, a Ratan Tata-backed B2B e-commerce platform, on Thursday announced its expansion to Ahmedabad and Mumbai to cater to the market of Western and Southern India. Currently, Moglix is headquartered in Singapore and is present in Noida, Gurgaon, Chennai and Pune.
B2B online marketplaces help SMEs reduce costs and lead time by offering a more transparent and faster procurement process
Noida-based Moglix the fastest growing Indian tech company: Deloitte India’s Technology Fast 50 2018
Deloitte announced the 50 fastest growing technology companies in the country as part of its Technology Fast 50 India 2018 program. The cumulative revenue of the top 10 winners has jumped from Rs 18 crore in 2016 to almost Rs 500 crore in 2018, marking a growth of almost 28x, said a statement.
Over the past three months, business-to-business (B2B) e-commerce marketplace Industrybuying has slashed its workforce to fewer than 300 – less than half of what it was a year ago – people close to the development told TechCircle. Three top executives have also put in their papers in the recent past.
Moglix, the Ratan Tata-backed B2B e-commerce start-up, is looking to expand to more towns and set up warehouses to tap into the ‘growth spurt’ in online procurement of industrial products. The company plans to add five-to-seven warehouses and increase its penetration by entering at least 7-8 industrial manufacturing towns over the next 12-18 months.
“Before you become a leader, success is all about growing yourself. After you become a leader, success is about growing others”
Moglix, a Ratan Tata-backed leading B2B commerce company, on Thursday announced that it has won 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category. The prestigious honor bestowed by SAP India is in recognition of Moglix’s outstanding innovative procurement technology shaping the manufacturing sector of India.
The focus on wide scale broadband access, on Machine learning, AI and robotics, on R&D as well as skilling, and on Smart Cities will keep pushing India’s Digital agenda, well supported by the additional fund allocation. It is a quietly progressive budget, and timed well to focus on readying all cross sections of Indian society to reap the benefits of the future.”
“Budget has clearly recognized Food Processing as the major tool for Rural upliftment & to enhance Farmers income. Besides double allocation, huge increase in Rural Infra & overall support to the farm sector through new initiatives will further add to the growth of food processing industry. Thrust on Agro & processed food exports will be further icing on the cake. Easier availability of Mudra loans to young & new entrepreneurs will help to build food service chain linking farms to process industry to the consumer directly,” said Man Mohan Malik, Founder & CMD Himalaya Foods International.
The Union Budget will be announced on 1 February. Sectors across industry shared their expectations from the Budget with Firstpost. It ranged from a governmental push towards infrastructure to tax holidays for start-ups to ‘affordable’ GST rates.
These veteran investors in the industry give their two cents on all things startup, right from the conceptualization of the business model for a startup, the technology behind startups and what is the relationship between the capital investors, startups and growth.
Rahul Garg, who has 16 technology patents to his name, says he has attempted to codify his learning mechanism
Nearly two decades after IndiaMart, an online trade directory, started out, investment is finally flowing into B2B (business-to-business) internet start-ups, but a shortage of credit to manufacturers and suppliers continues to hold back the expansion of the sector, founders and investors said.
Manufacturing sector in India has huge potential of growth but the inefficiencies of doing business that are holding back the growth of the industry is what triggered the idea of founding Moglix. Manufacturing is a $ 300 Bn industry in India out of which only 5% are using digital ways of supply chain management.