Alibaba to assist Indian SMEs in global trading

Global e-trader Alibababa.com on Monday announced offering Indian small and medium enterprises (SMEs) a common platform for their global trading needs.

"We have tied up with five partners to set up a Trade Facilitation Centre (TFC) programme for providing Indian SMEs customised services in global trading," the Chinese e-commerce major said in a statement here.

The five partners are Kotak Mahindra Bank, IDFC Bank, Delhivery, DHL and Aditya Birla Finance Ltd.

"Our programme will allow Indian SMEs to avail special benefits, value-added services and dedicated facilities," the statement said.

Kotak and IDFC will provide banking, transactional and lending solutions, Aditya Birla will improve SMEs exports process with collateral-free loans and financing options, DHL will present Alibaba's members a programme (Concept 1) for export and import of samples and Delhivery courier and logistics services with free shipments.

"Services, including customs clearance, shipping, logistics, banking and finance as essential facilities for businesses are expected to grow and scale in the global trading scene, the statement pointed out.

The TFC will aim to drive greater participation of Indian SMEs in the international trade and business market.

"The TFC programme is our commitment to support inclusive global trade for SMEs, which is the mission of the eWTP (electronic World Trade Platform) proposal initiated by our group's Founder and Executive Chairman Jack Ma," said Alibaba Global Managing Director and India Head K. Guru Gowrappan in the statement.

According to Alibaba Vice-President for strategic partnerships Vinay Bhartia, Indian SMEs face multiple challenges even after receiving export orders like logistics, funding, banking services, inspection and shipment.

"While we help SMEs or exporters find overseas buyers, value-added services to be provided by our TFC partners will help our members overcome these challenges," added Bhartia.

Alibaba.com has been operating in India since 2007. The marketplace had six million registered Indian buyers and sellers as of early 2016.

--IANS

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