Ground Report News Desk | New Delhi
In sync with the Prime Minister’s Vocal for Local call, global enquiry-to-delivery trade enablement platform, Tradologie has announced the launch of eight new product segments in the Agri and Industrial goods trade. The platform, which has been set up to facilitate bulk global trade of commodities by acting as a direct interface between actual buyers and sellers, will now offer raw cotton, meat, vegetables, in the agri commodities segment along with launching its services for the industrial commodities segment by introducing the bearing, hand tools, fasteners and power transmission product segments.
With the addition of the new agri-based commodities, Tradologie expects to clock a y-o-y growth in excess of 400%, despite a COVID-impacted financial year. Tradologie already has established a trade network for commodities such as rice, sugar, wheat and pulses in the agri sector. In addition, Tradologie targets to facilitate close to Rs 500 million of turnover in the first year in the industrial goods segment. The company believes that its platform also provides a digital alternative to trade shows and visits which, traditionally, acted as the via-media for new international business development for the Industrial commodities sector and can ensure business continuity even during these difficult times for international trade.
Highlighting the company’s decision to venture into industrial goods, Mr. J.K. Arora, Founder and CEO of Tradologie, said, “MSMEscontribute 45% of the manufacturing output and 40% of the exports of our country, making them the backbone of our economy. The sector produces quality products, which is valued higher than the Chinese alternatives currently available in the global market. While the world’s outlook about China is changing, we feel it is the right time to promote the prowess of the Indian manufacturing sector, and swiftly provide products to buyers through secure trading channels provided by our platform. Tradologie is already supporting three of the five pillars of economic growth spelled by the Hon’ble Prime Minister by creating a state-of-the-art infrastructure and technology-based delivery system.”
Since starting commercial operations in 2017, Tradologie has been able to develop more than 100,000 verified international buyers in 42 countries who have done the business of more than Rs 10.5 billion on the platform. Given the current global crisis, digitization and creation of specialized ecosystems are being mooted by experts as solutions to mitigate challenges faced by the International Trade Community, and Tradologie is helping businesses do that.
“COVID-19 has posed challenges to international businesses wherein the ever-changing situations in countries is impacting the ability of buyers to effectively procure products from existing suppliers. The ban on travel in the foreseeable future has created a demand for digital platforms which are able to help buyers find international suppliers, as well as provide a safe and secure way to establish trade with such suppliers. Tradologie goes beyond traditional B2B platforms and helps both buyers and sellers every step of the way to execute their trade,” said Mr Arora.
Tradologieis the only global procurement solutions provider, to offer a unique ‘Negotiations Mechanism’ where sellers can come to the platform at a designated time, offer their prices to the buyer in a competitive environment and negotiate with the buyers to bag orders. Currently, in more than 30 countries, Tradologie is now expanding its services to Cairo and Istanbul. It aims to be available across the globe by 2021 with a network of over 45,000 suppliers servicing more than a million buyers.
Other than Adding Product Segments, Tradologie is also venturing into Trade Finance Facilitation and looks to provide cost-effective finance to buyers to help them maintain continuity of supplies with minimal impact on cash flows.
Tradologie is the first-ever, enquiry-to-delivery trade enablement platform that has been set up to facilitate bulk global and domestic trade of commodities by acting as a direct interface between actual buyers and sellers. The B2B marketplace, which is based in Noida, connects manufacturers to bulk consumers across the world, providing solutions that enable them to conduct business in a transparent and cost-efficient manner. Launched in 2016, Tradologie deals in commodities trade for metal, coal, raw material, and construction procurement, and enables real-time price discovery and negotiation mechanism to buyers through an online reverse bidding system on its platform. In the three years of its existence, the company has grown to a 65-member team, with a network of 2,800 verified sellers across 12 countries, including India, Myanmar, Thailand, Vietnam, Nigeria, Ukraine, Brazil, and Ethiopia. For further information please visit – https://www.tradologie.com/lp/index.html