As we all know that the ongoing global slowdown has affected businessesworldwide. It brought the economy to a standstill and changed the way businesses used tooperate across the world. Jupiter Infomedia was no exception in this regard. The economicsetback had some short term negative impact on our business but that could not affect ourlong term goals to grow our company.
During FY 2020-21 the company could not generate revenue from anybusiness stream as the operation almost halted due to pandemic related lockdown. The onlyvalue addition for the company was the treasury management that generated revenue.However we at Jupiter utilized the time to prepare ourselves to bounce back higher. Wemotivated our team to strengthen our content and user base so we can capitalize upon iteven in these trying times.
How we combat the pandemic slowdown?
Business models around the globe have now embraced digitalization tosustain during the pandemic setback. We at Jupiter followed the model to welcome a set ofsignificant changes in the way we conduct the business. This obviously had an overallpositive impact on our business operations. After an in-depth market research on thepresent scenario and the upcoming business opportunities we decided to expand upon ourflagship brand JimTrade.com. We believe these developments will open a gateway ofpossibilities for us to create value for our stakeholders.
Business Development in 2020-21
JimTrade.com has been the focus of growth over the last year. Initiallywe prepared the portal with an exhaustive content base and utilized it to launch JimTradeDirectory in Print and digital versions. This further enhanced our B2B user base as theindustry specific editions acted as integrated sourcing tools for B2B buyers.Accomplishing this feat was challenging but we managed to ace it within a couple of years.JimTrade.com is now all set to take the next big step to become a complete businesssolution provider to Indian manufacturers. The brand now expands into B2B exhibitions asan initiative to provide a multi-dimensional platform to drive business prospects toIndian manufacturers.
The preliminaries of this upcoming initiative are almost over. Withthat we are hoping to launch the trade show by the first half of 2022 considering thegovernment imposed restrictions will be eased by that time. The first edition will befocused on the core manufacturing sectors of India such as engineering power electricalmachinery tools automation and electronics that form the backbone of Indian industries.
This will further streamline the activities of JimTrade.com making it acomplete business promotion and sourcing tool for Indian manufacturers. With 21 majorindustry categories and more than 20000 subcategories of Indian products JimTrade.comoffers endless opportunities to tap the B2B exhibition scenario in the future.
To prepare the groundwork for this significant expansion ofJimTrade.com Jupiter Infomedia has acquired substantial stake of Netlink Solutions(India) Ltd. a BSE listed company. Netlink Solutions has years of expertise in organizingB2B events and trade shows. Besides the company also has an event operation andmanagement division. This business take over will give a head-on start to the proposedexpansion of JimTrade.com
All these developments during the last year have directed the companytowards its progress that will possibly add value to our stakeholders in the coming years.
We are looking forward to your unwavering support for JupiterInfomedia.