At a special event to celebrate the 1 million member milestone, Mr. Sanjeev Gogna from Manam Exports, the one millionth member from India, was presented with a commemorative plaque by Alibaba.com founder and chairman Jack Ma and Alibaba.com CEO David Wei.
“India is a unique and very important market for us because it has a large SME population and both a robust domestic market and a growing export sector. We grew by 138 percent in India last year and it is now our largest supplier market after China. Our commitment to India is stronger than ever,” said David Wei, CEO of Alibaba.com.“It is a great honor for me to be the one millionth member of Alibaba.com in India. The site has given me virtual offices all over the world and opened up new markets for my company that I could not have imagined before. I hope that many other Indian businesses can broaden their horizon and join the global marketplace,” said Sanjeev, who is one of millions of SMEs around the world that have been turning to online marketplaces to look for trading opportunities both within their own countries and internationally, especially during the current downturn.
Founded in China in 1999, Alibaba.com helps small businesses grow by connecting them with potential customers and trusted suppliers from around the world for every imaginable good, from laptops to wedding dresses to auto engine parts. Alibaba.com has more than 8.6 million registered users on its international marketplace from 240 countries and regions, and saw its membership base grow by 80 percent in 2008.
While much of the developed world is in recession, India’s economy has been reasonably robust thanks to domestic demand. The Indian economy is predicated to grow at a steady rate of 6 percent in 2009 and experts estimate this growth will further accelerate and touch 7 percent in 2010. India’s 13 million SMEs constitute 40 percent of the country’s manufacturing output, accounting for approximately 17 percent of the GDP . Indian SMEs who have traditionally been focused on domestic trade are now gradually moving to exports as access to global markets becomes easier.
“SMEs in India have traditionally looked within their own borders, and often just within their own province, to find trading partners. Online marketplaces now provide local businesses with an easy way to access and participate in the national and global marketplace. Today, around 30 percent of SMEs in India are exporting but their reach is limited, the potential for local businesses to explore new markets is enormous. Alibaba.com is launching an export-focused platform that will offer 100 percent of Indian SMEs the opportunity to get into the export sector,” Wei concluded.
Gold Supplier: Gateway to global trade from India
On July 1, 2009, Alibaba.com will open its Gold Supplier membership to suppliers in India for the first time. Gold Supplier International Edition is Alibaba.com’s highest level of membership for Indian exporters and will allow them to
maximize their exposure to overseas buyers. Gold Supplier International Edition members will enjoy many of the same features as their Greater China counterparts, including first-level priority listings with a Gold Supplier logo and product showcases. All suppliers applying for the membership must pass an authentication and verification process conducted by an independent third-party agency. Trust is the number one issue cited by buyers around the world and it has been proven that 85 percent of buyers using online marketplaces prefer to do business with verified suppliers only .
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