Mumbai: India’s multinational company engaged in EPC projects, hi-tech manufacturing and services Larsen & Toubro today announced the launch of L&T-SuFin, an integrated E-commerce platform for B2B industrial products and services.
Through this platform, L&T aims to empower businesses, especially MSMEs, to enable them source their industrial supplies pan-India, digitally and cost-effectively, the company said in a statement here.
It said the Indian manufacturing ecosystem has been facing significant inefficiencies in the industrial supply chains, relying heavily on resources such as B2B directories – digital or otherwise – to fulfill MSME’s sourcing needs.
These traditional supply chain issues have resulted in challenges in the domains of maintaining business continuity, revenue or inventory optimisation and manpower deployment, it said.
“With digital technologies at the core, L&T-SuFIn is poised to transform Indian business landscape, leading to the formalization of the traditional supply chains and creating a win-win situation for suppliers and buyers,” the company said.
Commenting on the development, L&T’s CEO and MD SN Subrahmanyan said, “As India aspires to become a $5 trillion economy, there lies a critical need to digitalize supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises.”
With the launch of L&T-SuFin, he said, “we take yet another leap in our digital transformation journey, building on our legacy of trust and deep understanding of the ecosystem.”
He expressed confidence about L&T-SuFin transforming the B2B marketplace for industrial products by making it easily accessible, convenient, and transparent, even for the customers in and beyond tier-1 and tier-2 cities, thereby enabling a level playing field and inclusive growth for all businesses.
L&T-SuFin hosts a vast selection of industrial products across 40+ categories as well as financing and logistics support from carefully vetted partners.
For sellers, L&T-SuFin is an opportunity to broaden their markets like never before.
The platform is designed to reach out to buyers across categories and pan India geographies.
It will enable businesses by providing them with a complete ecosystem of seller tools, delivery, and negotiations on a single platform.