IndiaMART - India’s top online B2B marketplace released its ‘Apparel Sourcing Guide’ in North America’s largest apparel & fabric sourcing event – ‘Sourcing at MAGIC’ today. The first in its series of IndiaMART buyer sourcing guides, this guide aims at assisting global buyers find reliable suppliers from the the Apparel Industry in India. With IndiaMART’s eleven year old roots in the cross-border B2B across industries, this guide is expected to bring in significant cost savings for global businesses sourcing apparel & allied products from India.
‘Sourcing at Magic’ connects nearly 4000 suppliers and service providers from over 30 countries to branded apparel & accessory companies, importers, designers, and product development teams from major retail chains in the industry. “MAGIC fair is undoubtedly the largest annual meeting ground for global businesses in the apparel sourcing domain. We are glad that IndiaMART is representing us at the fair by launching its Sourcing Guide there’ says Rajeev Bansal, Director Celestial Knits & Fabs and a member of IndiaMART. The show will go on from 27th to 30th August, 2007 at the Las Vegas Convention Center, Nevada, USA.
“Post the removal of quota restriction for sourcing, buyers are presently looking at India with a fresh perspective. In need of updated, reliable information on Indian suppliers, they are welcoming our Sourcing Guide with lot of enthusiasm. There could not have been a better time or platform to launch the guide,” says Lalit Masta from IndiaMART. Incidentally, participation from India has shown a significant increase of 20% from the last year at MAGIC.
IndiaMART expects to reach out to thousands of importers, buying offices, distributors, wholesalers and large volume retailers including chain stores, catalog / mail order companies and mass merchandisers who will be attending the show over the next three days. “Some of them are already users of our online Marketplace, and had booked their copies in advance,” adds Lalit.
The apparel sourcing guide carries useful information and contact details of nearly 3000 pre-verified suppliers under 30 apparel-related products & service categories from India. By integrating its TrustSEAL supplier verification service with the supplier listings in the guide, it has ensured higher trust for buyers dealing with Indian suppliers. Buyers can even find more information and view detailed offering by numerous Indian suppliers by viewing their respective online catalogs at IndiaMART.com which is already popular with B2B community across the globe as a reliable source of supplier information.
Coming next in the series is the Engineering & Industrial Products Guide which will be launched at EMO, Hanover (Germany) next month. IndiaMART will release six such guides for Industries that are key to the Indian B2B domain over the coming months at various International trade platforms.
IndiaMART.com is India's largest online B2B marketplace bringing Indian suppliers and international buyers together. Established in 1996, IndiaMART is an ISO certified company with state-of-the-art web-development centre which is one of the largest in the world. With 750 employees and a network of 25 offices pan-India, IndiaMART offers value service to its 300,000 members and over 5 million global buyers.
With last financial year revenues at US$ 7 million the company has grown at over 50% CAGR for the last 5 years. IndiaMART has been profitable all through the eleven years of its operations. IndiaMART’s online success has been widely acknowledged by media such as CNBC, BBC, Business Money, CNN, Businessworld, Economic Times, Financial Express etc. Amongst its investors stands tall the Bennett, Coleman & Co. Ltd. (Times of India Group), India’s largest print media group that has made a strategic investment in IndiaMART in 2006.