FIEO launches first-of-its-kind B2B digital marketplace for exporters, MSMEs and farmers

Representative image (Source: Shutterstock)

The Federation of Indian Export Organisations (FIEO) has launched the first-of-its-kind online marketplace for Indian exporters and foreign buyers. The marketplace - Indian Business Portal - will act as a B2B digital marketplace to help micro, small and medium enterprises (MSME) exporters, artisans and farmers to identify new markets for their products and grow their sales globally.

The marketplace has been designed and developed in partnership with GlobalLinker, which already provides a business networking platform for SMEs and startups.  The portal will digitize Indian exporters and help them become discoverable online, promote exports from all Indian states, and showcase a wider range of products and services.

FIEO said more than 2,000 small businesses have already joined, listing over 40,000 products and services. FIEO will promote the marketplace worldwide.

Minister of State for Commerce & Industry Anupriya Patel, who was present at the launch, said the portal addresses some elements of the government's commitments such as digitizing exporters, supporting MSMEs, and encouraging greater exports of Made in India products.

"It is witnessed during the pandemic, that online platforms such as e-commerce have shown immense potential in supporting millions of businesses to sustain themselves," she stressed.

Director General of Foreign Trade Santosh Kumar Sarangi said tech-enabled governance will play a key role in determining India’s growth and competitiveness. "The government is focused on paperless, automated processing systems, simple procedures for trade players, online data exchange between departments, digital payments & acknowledgements," he said.

The portal has a diverse product mix i.e Consumer & Lifestyle Products, Industrial Products, Business Services and Geographical Indication (GI) products. This portal holds special value for artisans and farmers’ products dealing in Indian GI and handicraft products. India has about 370 GI-certified products across various categories.

"We felt that we could do much more for the exporters and help boost India’s export opportunities through a digital platform solution. Our SMEs are blessed with vast skills, unique product portfolios and diversity," FIEO President A Sakthivel said.

"FIEO’s vision is to focus on innovation to provide new and value-added services to exporters. Over a period of time, we will seek to build trade corridors with a number of countries for small businesses to trade efficiently through this partnership," said Ajay Sahai, Director General & CEO of FIEO.
The portal has incorporated the facility to create buyer and seller meetings, and also the option for overseas consumers to directly buy from artisans and exporters who offer smaller quantities of their products.