Indian investment company Larsen & Toubro — which targets engineering, procurement and construction projects and high-tech manufacturing and services — has unveiled L&T-SuFin, an integrated eCommerce platform for B2B industrial products and services, according to a Monday (March 7) press release.
L&T-SuFin will help microbusinesses and small- to medium-sized businesses (SMBs) source their industrial supplies across India using digital tools, the release stated.
The L&T-SuFin platform is “poised to transform the Indian business landscape, leading to the formalization of the traditional supply chains and creating a win-win situation for suppliers and buyers,” according to the release. It follows L&T’s launch of EdTech platform L&T EduTech last year.
“As India aspires to become a $5 trillion economy, there lies a critical need to digitalize supply chains to enhance the overall global competitiveness of Indian industries, especially [SMBs],” said Larsen & Toubro CEO SN Subrahmanyan in the release. “… 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.”
L&T-SuFin features industrial products across more than 40 categories and financing and logistics support from partners, the release stated. L&T-SuFin allows sellers to broaden their markets by reaching out to buyers across categories and pan-India geographies and offers “a complete ecosystem of seller tools, delivery and negotiations on a single platform.”
Last week, supply chain Software-as-a-Service (SaaS) firm Unicommerce partnered with India-based B2B eCommerce platform udaan to provide the latest technology for inventory and order management to merchants selling lifestyle goods on udaan’s marketplace, as well as from others on Unicommerce’s centralized platform.
Read more: Unicommerce Teams With B2B eCommerce Platform Udaan
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