Tradologie launches new product segments to help MSMEs

Source : IANS
Author : IANS
Last Updated: Thu, May 14th, 2020, 12:57:10hrs
Tradologie launches new product segments to help MSMEs

New Delhi: Enquiry-to-delivery trade enablement platform Tradologie, on Wednesday, announced the launch of eight new product segments in the agriculture and industrial goods trade to support the MSME sector.

The platform, which facilitates bulk global trade of commodities by acting as a direct interface between actual buyers and sellers, will now offer raw cotton, meat, vegetables, in the agri-commodities segment along with launching its services for the industrial commodities segment by introducing the bearing, hand tools, fasteners and power transmission product segments.

"With the addition of the new agri-based commodities, Tradologie expects to clock a year on year (YoY) growth in excess of 400 per cent, despite a COVID-impacted financial year," the company said in a statement.

The company has also ventured in the industrial category with five new industrial product segments.

Highlighting the company's decision to venture into industrial goods, J.K. Arora, Founder and CEO of Tradologie, said: "MSMEs contribute 45 per cent of the manufacturing output and 40 per cent of the exports of our country, making them the backbone of our economy. The sector produces quality products, which are valued higher than the Chinese alternatives currently available in the global market.

On the challenges posed by COVID-19, he said that there are challenges for international businesses wherein the ever-changing situation in countries is impacting the ability of buyers to effectively procure products from existing suppliers.

"The ban on travel in the foreseeable future has created demand for digital platforms which are able to help buyers find international suppliers, as well as provide a safe and secure way to establish trade with such suppliers. Tradologie goes beyond traditional B2B platforms and helps both buyers and sellers every step of the way to execute their trade," Arora said.