Alibaba.com Limited , the world’s leading B2B e-commerce company, and Infomedia India Limited, India’s largest Yellow Pages and special interest publishing company, today announced a multi-year strategic partnership designed to benefit small and medium-size enterprises (SMEs) in India.
The Alibaba.com and Infomedia partnership will combine the power of traditional print publishing with online media and e-commerce, providing Indian SMEs with a one-stop solution for global and domestic trade. Together they will create a strong online community of Indian business people and provide them with a single cost-effective channel to promote their products and source from quality suppliers in India and around the world. It will also provide SMEs in India with the latest industry news and technical developments in multi-media formats.
“As India’s largest Yellow Pages company – and now as a part of the Network 18 group – Infomedia is delighted to bring to Indian businesses the global reach and strengths of Alibaba.com. We have a long history of helping SMEs grow their business – and this partnership with Alibaba.com will help Indian businesses grow to their fullest potential worldwide. The Infomedia-Alibaba partnership will bring value to Indian SMEs by giving them a larger, multi-media business platform encompassing domestic and global trade services ,” Prakash Iyer, Managing Director, Infomedia, said.
“With its huge growth potential, India is a very important and strategic market for Alibaba.com and is a top priority for our global expansion plans. While Alibaba.com is the expert in helping small businesses trade internationally, Infomedia brings us a strong understanding of the Indian SME and B2B market. With Infomedia we have a strong local partner who can provide on-the-ground support for our members, including sales, marketing and customer service. We believe this alliance will help us become the dominant online B2B marketplace in India by the end of 2008,” David Wei, Chief Executive Officer, Alibaba.com, said .
India has more than 8 million SMEs, which account for almost 40 per cent of India’s industrial output and employ around 30 million people. It is estimated that 3 million SMEs are engaged in B2B trade and around 1 million are in the export business. Alibaba.com has more than 400,000 members in India, already making it one of the largest B2B online marketplaces in India by member count. With this partnership, Alibaba.com is expecting to double its Indian membership base in the near future. Alibaba.com launched a special India Channel late last year to help Indian suppliers find local and global buyers for their products and services. The India Channel has been well received by members, with more than 20,000 Indian companies signing up each month since January 2008.
Founded in 1999 in Hangzhou, China, Alibaba.com has built a global community of more than 27 million members from over 200 countries and regions. Thanks to Alibaba.com, small businesses around the world are going global and buyers and sellers of everything from automobile parts to evening dresses are finding their perfect trading partners faster and easier than ever before.
India is the second fastest growing major economy in the world. It had a GDP growth rate of 9.6% for the fiscal year 2006-2007 and is expected to grow by 8.7% this year. China, the world’s fastest growing economy, is India’s third largest export country. The Alibaba.com and Infomedia tie-up will help bridge two of the world’s fastest growing economies and further promote trade between India and China.
Alibaba.com (HKSE: 1688), a member of the Alibaba Group of companies, is the world’s leading B2B e-commerce company. Our international marketplace focuses on global importers and exporters and our China marketplace focuses on suppliers and buyers trading domestically in China. Together, our marketplaces form a community of more than 27 million registered users from over 200 countries and regions.
Infomedia India Limited is India’s leading media company with strong market presence in diverse business areas spanning Yellow Pages, Magazine Publishing, Printing Services and Publishing Outsourcing. A pan-Indian network covering 26 cities with over 2,200 employees gives Infomedia a national footprint. The Company is the undisputed market leader in Yellow Pages and Special Interest Publishing and is one of the most respected contract printers in the country. Infomedia has expanded into the Publishing Outsourcing segment and is well placed to consolidate its position in this booming market with tremendous growth potential. Infomedia is a part of the Network 18 group – India’s fastest growing media conglomerate.