Rahul Garg, CEO, Moglix: On A Mission To Impact 100 Million Lives By 2030
Rahul Garg is raring to go. And he wants to do it quickly.
That’s why just a few months after his company Moglix became a unicorn, Garg set up the Mogli foundation, which will work with organizations to bring innovations in areas as diverse as health care, environment, and livelihood in the country. The idea came largely from his own experience in India’s fight with the second wave of Covid-19.
“We want to now become the front and centre of everything manufacturing, procurement, and everything related to supply chain finance”Rahul Garg, Founder, Moglix
India’s e-commerce B2B market is currently pegged at $1.7 billion, according to a report by consultancy firm RedSeer. It is expected to grow at an 80 percent compound annual rate (CAGR) to reach $60 billion by 2025. By comparison, the B2C e-commerce market is currently worth some $18 billion and is expected to grow at 40 percent CAGR. The country’s offline B2B market itself was estimated to be worth some $700 billion in 2018-19.
“It’s still very early days and I think the idea is can we impact 100 million lives by 2030 in a positive manner across health care, environment, and livelihood,” Garg says. “We have realized there is a larger purpose and larger objective that you can, as an organization, have to create impact.”
The company has already launched operations in the UAE, a market it is now bullish on. It works with over 500 global enterprises to streamline their procurement and supply chain at more than 3,000 plants across infrastructure, metals and mining, oil and gas, chemicals, pharma, auto, and FMCG, among others. In addition, it also boasts a supply chain network of over 16,000 suppliers and over 35 warehouses.