UK-based cloudBuy expects to deliver services faster and at lower transaction costs to its members who trade through its platform by eliminating the supply chain inefficiencies which are estimated at
UK-based cloudBuy expects to deliver services faster and at lower transaction costs to its members who trade through its platform by eliminating the supply chain inefficiencies which are estimated at around 30-40 per cent going by global benchmarks.
Nilesh Gopali, cloudBuy, country head, India said, “Our transaction rates would be substantially lower than some of the prevalent players in the B2C segment,” declining to give any figures due to the confidentiality clause. The company and CII had signed an agreement in London during Prime Minister Narendra Modi’s London visit, for an online e-commerce gateway that will connect Indian business with new trading opportunities within the country and around the world.
The company expects to facilitate transactions worth £3.5 billion ('35,266.5 crore) and increase trade further between traditional business partners India and the UK. “cloudBuy platform will be a facilitator and delivery of the product and service will be an outcome of inventory from the supplier’s side and the demand from the procurement end,” said Mr Gopali.
From an India perspective, he said the portal supports the ‘Make in India’ initiative and provides a showcase for Indian products to the world. Chandrajit Banerjee, director general, CII said, “This platform will enable secure e-commerce for organisations of all sizes and will speed the growth in online business to business transactions.”
