Home / Knowledge / News / Apparel/Garments / IBEF to build Alibaba like portal in India
IBEF to build Alibaba like portal in India
14
Dec '15
India plans to set up a business-to-business international e-commerce platform exclusively for the country's manufacturers and exporters to sell their products to overseas vendors.

In what could be a first for any country, the portal, which is being developed on the lines of Alibaba.com, will serve as a one-stop shop for exporters in other countries to buy every product that is made or value added in India, from needles to cars, according to The Economic Times.

India Brand Equity Foundation (IBEF), a trust set up by the commerce department, is building the online platform, and will own and maintain the digital property related to this portal.

"This is designed keeping Indian players in mind and that any importer should have access to us," The Economic Times quoted an unnamed official as saying.

"Though we are still working on the modalities such as payment mechanism and insurance, the overall sentiment for the project from all departments concerned, is positive," the official said. IBEF intends to launch this business-to-business portal with at least one lakh sellers and plans to scale it up to 5 lakh over time, an official said. For this, it will float a B2B tender in about a month.

"This is a very ambitious project which will add brand equity and no other country has such a portal. This has been in the works for quite some time now," another official said.

Similar to Alibaba.com, which is a platform for global wholesale trade through which manufacturers and distributors can sell their products to companies in other countries, the proposed portal will also offer sales services in other countries.

The idea is to help make India a sourcing hub and get the country's exporters access to all foreign markets, which will revive falling exports and encourage 'Make in India' and 'Skill India' initiatives of the central government, officials said.

The government also wants to replicate Alibaba's trade assurance for timely shipping and quality standards for the products traded on its platform.

IBEF also plans to tie up with India Post to help export these products besides insuring each and every transaction that takes place through this online portal. The government wants to ensure that no fly-by-night operators use this portal as it carries brand equity, the newspaper said.

Hence, vendor verification is high on the agenda, officials said. India's exports have been falling for the last 11 months due to higher competition in a weak global economy making it difficult to achieve the targeted $300 billion from exports in 2015-16. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search