Alibaba.com enters into agreements for TFC program in India

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Alibaba. Com, the leading B2B platform for cross-border wholesale trade of Alibaba Group,today announced that it has entered into agreements with newpartners to explore the establishment of an expanded TradeFacilitation Centre (TFC) program in India.

The new partners include Kotak Mahindra Bank, IDFCBank, Delhivery, DHL and Aditya Birla Finance, the company said.

Through these partnerships, the company hopes to encourage and support Indian Small and Medium Enterprises(SMEs) by providing a one-stop shop for their essential traderequirements, it said in a release.

The proposed TFC program would allow SMEs avail special benefits, dedicatedsupport and customised value-added services, besidesproviding dedicated facilities.

While Alibaba.com would work with Kotak MahindraBank and IDFC Bank to provide banking, transactional andlending solutions, Aditya Birla Finance wouldhelp improve SMEs' exports process with provision of collateral free loans and customised financing options.

DHL would present Alibaba.com members withConcept 1, a program with one solution for all exports andimports of documents, samples and small shipments, while Delhiverywould provide domestic courier and logistics services with free shipments and offer Alibaba.com members special solutions, prices and customer support, it added.

"The TFC is instituted for the sole purpose of driving greater participation of Indian SMEsin the international trade and business market," Global Managing Director and Head of India for Alibaba Group K GuruGowrappan said.

The company said withleading providers of such services as part of its TFC program,Alibaba.com will provide its platform users with tailor-madeservices.

Alibaba.com has been operating in India since 2007.

The marketplace had around 6 million registered Indian buyersand sellers as of early 2016.

Alibaba.com India SVP for Strategic Partnerships Vinay Bhartia said SMEs in India, with whom they interacted, faced multiple challenges even after receiving export orders like logistics, funding, banking services, inspection and shipment.

"So while Alibaba.com helps SMEs or exportersfind overseas buyers, value-added services to be provided byour TFC partners will help our membersovercome these challenges," the company said.