A study of

Indiamart

Submitted in the partial Fulfillment of there requirements For the award of

Master Of Business Administration Fourth Semester

(Session2024-25)

Dr.Babasaheb Ambedkar Marathwada University,

Department Of Management Science

Chhatrapati Sambhajinagar.
Under the Guidance of,

R.K PRIYA MAM

(Assistant Professor, UDMS, Chhatrapati Shambahjinagar)

Submitted by,

Mr Abhishek Madhukar Bombatkar

 Dr.Babasaheb Ambedkar Marathwada University,
Chhatrapati Sambhajinagar.
Department Of Management Science,

Certificate

This is To Certifythat

Abhishem Madhukar Bombatkar

Has satisfactory carried out the project work entitled

“INDIAMART”

As Per Requirements Of Department Of Management Science, Dr. Babasaheb

Ambedkar Marathwada University, Chhatrapati Sambhajinagar, In The Partial
Fulfilment Of Masters Of Business Administration For The Academic Year 2024-2025.

Guide name (Director)

R. K PRIYA MAM Dr.Abhijeet Shelke

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 Declaration

I Abhishek Madhukar Bombatkar hereby declare that the project work Entitled “
INDIAMART” done by me under the guidance of R K PRIYA MAM., Department of
Management Studies is submitted in partial fulfillment of the requirements for the award of
“MASTER OF BUSINESS ADMINISTRATION”

Date Abhishem Madhukar Bombatkar

Place Chhatrapati Sambhajinagar (Mba final year student)

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 Certificate

This Is To Certify That The Field Project Report Titled “INDIAMART” Submitted

By Abhishem Madhukar Bombatkar, Bearing Roll Number (Prn: 2023015200910546),

Has been Conducted Under My supervision And Guidance. This Project Fulfills The Partial
Requirements Of the mba program at Dr. Babasaheb Ambedkar Marathwada
University , Chhatrapati Sambhajinagar.

Project guide signature:

R. K. PRIYA MAM

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 Acknowledgment

I Express My Deepest Sense Of Gratitude And Humble Indebtedness Toward Honorable

“Department Of Management Science, Dr. Babasaheb Ambedkar Marthwada University,
Chhatrapati Sambhajinagar.” For His Insight, Inspiration, Constant Encouragement And
Support.

I Am Thankful To (Director), Dr. Abhijeet Shelke Sir (Assistant Professor, Udms,

Chhatrapati Sambhajinagar. For All His Valuable Suggestion Guidance And Providing All
Facilities.

I Am Very Much Grateful To R.K. PRIYA MAM (Assistant Professor, Udms,

Chhatrapati Sambhajinagar). For Their Valuable Guidance, Constructive Criticism, Just And
Critical Observation During The Training Program And Also Guidance In Training Duration.
I Heartily Thanks To My Parents For Giving Me Moral Support During Personal
Research Project. My Thanks Would Not Be Completed Without My Friends Who Assisting Me
Directly Or Indirectly For The Constant Encouragement.

Place:-Chhatrapati sambhajinagar. Abhishem Madhukar Bombatkar

Date:- (Prn -2023015200910546 )

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 Introduction

Introduction to B2B E-commerce Industry – Focus on IndiaMART

The Business-to-Business (B2B) e-commerce industry refers to online transactions and digital platforms that
facilitate the exchange of goods, services, or information between businesses. Unlike B2C (Business-to-
Consumer) platforms, B2B e-commerce deals with bulk orders, longer sales cycles, and customized
offerings catering to wholesalers, retailers, manufacturers, and suppliers.

With the rapid digitalization of trade, the B2B e-commerce sector in India has witnessed significant growth,
driven by increased internet penetration, smartphone usage, and digital payment adoption. Among the
leaders in this sector is IndiaMART InterMESH Ltd., one of India’s largest B2B online marketplaces.

About IndiaMART

 Founded: 1996 by Dinesh Agarwal

 Headquarters: Noida, Uttar Pradesh, India
 Business Model: Online marketplace connecting buyers and suppliers across India.
 Target Users: Small and medium enterprises (SMEs), manufacturers, wholesalers, and service
providers.

Key Features of IndiaMART

 Product Categories: Industrial supplies, machinery, electronics, construction materials, agricultural

tools, textiles, and more.
 Services: Buyer-seller interaction, quotation requests, lead generation, digital catalog hosting, and
payment facilitation.
 Reach: Over 7 million suppliers and 100+ million buyers as of recent data.
 Mobile and Web Access: IndiaMART offers a user-friendly app and website, making transactions
easier for businesses on the move.

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IndiaMART's Role in B2B E-commerce

 Market Accessibility: Helps small businesses reach buyers across India without needing a physical
presence.
 Digital Transformation: Enables traditional businesses to digitize their offerings and operate more
efficiently.
 Trust and Verification: Provides verified listings, reviews, and supplier profiles to reduce fraud and
improve reliability.
 Support for MSMEs: Plays a crucial role in empowering micro, small, and medium enterprises
(MSMEs) by connecting them to a larger market.

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 History and Evolution

IndiaMART: Company History and Evolution

1. Founding and Early Years (1996–2005)

 Founded in 1996 by Dinesh Agarwal and Brijesh Agrawal, IndiaMART started as an online
directory to help Indian exporters connect with international buyers.
 Initially focused on export-oriented B2B services during a time when the internet was still new in
India.
 Operated mainly as a listing platform, with limited features and a small customer base.

2. Expansion and Diversification (2006–2010)

 IndiaMART shifted its focus to include domestic B2B trade, seeing a large untapped market in
India’s growing SME sector.
 Launched RFQ (Request for Quotation) system, allowing buyers to post requirements and receive
quotes from multiple sellers.
 The platform expanded product categories, reaching beyond exports into sectors like industrial
equipment, textiles, construction, and agriculture.

3. Growth Phase and Tech Adoption (2010–2015)

 Increased investments in technology, user interface, and mobile access.

 Developed mobile applications and enhanced search/filter tools.
 Series A funding from Intel Capital in 2008 helped scale up the platform.
 Introduced paid membership plans for suppliers (e.g., TrustSEAL) to monetize services and improve
credibility.

4. Maturity and Monetization (2016–2019)

 Focused on monetizing services through subscription plans, lead management, and digital catalogs.
 Invested in customer support, content verification, and trust-building tools.
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  By this stage, IndiaMART had become India’s largest B2B online marketplace in terms of user
traffic and revenue.

5. IPO and Public Listing (2019)

 IndiaMART launched its Initial Public Offering (IPO) in July 2019 and got listed on the NSE and
BSE.
 The IPO was a significant milestone, showing investor confidence in India's B2B e-commerce space.
 Post-IPO, the company continued to report strong financial performance and user growth.

6. Post-IPO Evolution and Digital Push (2020–Present)

 COVID-19 pandemic accelerated digital adoption among Indian businesses, boosting IndiaMART’s
relevance.
 Launched IndiaMART Verified, a higher-trust badge for businesses.
 Invested in tech startups and platforms like Vyapar App (accounting software for SMEs) to enhance
ecosystem services.
 Continued improvement of AI-powered matchmaking, lead generation, and mobile-first experiences.

Current Position

IndiaMART is now a market leader in the Indian B2B e-commerce sector, serving over 100 million
registered buyers and more than 7 million suppliers. It continues to focus on empowering MSMEs by
improving accessibility, trust, and digital tools for business growth.

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Vision Statement

"To make doing business easy."

IndiaMART envisions a future where every business, big or small, can seamlessly connect and trade using
technology. The company aims to remove barriers in B2B commerce and create a transparent, efficient
marketplace.

Mission Statement

 To connect buyers with suppliers by providing a reliable and user-friendly digital platform.
 To empower Indian MSMEs by helping them reach a broader customer base through
technology.
 To ensure trust, transparency, and value in every business interaction.

Core Values

IndiaMART is built around the following core values:

1. Customer First
o Focus on delivering superior value and satisfaction to buyers and sellers.
2. Integrity and Transparency
o Maintain honest communication, verified listings, and ethical business practices.
3. Innovation and Agility
o Continuously adapt to market needs with technological upgrades and new services.
4. Empowerment of MSMEs
o Strengthen the backbone of India's economy by giving small businesses a platform to grow.
5. Collaboration and Respect
o Foster a respectful and team-oriented culture across all stakeholders—employees, clients, and
partners.
6. Ownership and Accountability
o Encourage responsibility and commitment to delivering high-quality service.

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 Organizational Structure

Organizational Structure of IndiaMART

IndiaMART follows a hierarchical yet functionally structured organization, ensuring clear leadership while
maintaining agility in decision-making across various departments.

Board of Directors

 Provides strategic direction, governance, and oversight.

 Led by Mr. Dinesh Agarwal (Founder & Managing Director).

Executive Leadership

 Managing Director (MD): Dinesh Agarwal

 Co-founder/Whole-time Director: Brijesh Agrawal
 Chief Financial Officer (CFO): Manish Bajpai
 Chief Operating Officer (COO): Oversees business operations, including sales, support, and
fulfillment.

Regional and Field Offices

 IndiaMART operates through regional sales offices in major cities (Mumbai, Delhi, Chennai,
Kolkata, etc.), enabling localized support and market presence.

Structure Type

 Functional Organizational Structure with cross-functional collaboration.

 Encourages specialization while enabling fast adaptation to market dynamics.
 Promotes a customer-centric approach across all levels.

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 Product and Service

IndiaMART: Product and Service Offerings

IndiaMART provides a wide range of digital tools and services to connect buyers and suppliers, simplify
trade, and empower MSMEs. Its offerings fall into two main categories: Marketplace Services and Value-
Added Services.

. Marketplace Services

These are the core services that form the backbone of IndiaMART’s platform.

Product Listings

 Millions of products across 100+ categories such as industrial machinery, electronics, construction
materials, agriculture equipment, textiles, etc.
 Suppliers can list products with detailed descriptions, pricing, images, and specifications.

Buyer-Seller Interaction Tools

 Request for Quotation (RFQ): Buyers post product requirements, and multiple suppliers respond
with quotes.
 Lead Management: Helps suppliers track and respond to inquiries in real time.

Verified Listings

 Businesses can obtain a "Verified Seller" badge through documentation and background checks,
increasing buyer trust.

Mobile & Web Platforms

 IndiaMART is accessible via desktop and mobile apps, offering seamless browsing, inquiry posting,
and notifications.
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Value-Added Services

These premium services enhance visibility, reach, and performance for sellers.

Paid Membership Plans

Mini Dynamic Catalog (MDC), TrustSEAL, and Preferred Supplier plans provide:

o Better search ranking

o Verified tags
o Digital catalogs
o Priority customer support

Payment Solutions

Pay with IndiaMART: A secure digital payment feature that facilitates B2B transactions, improving
transparency and convenience.

Lead Management System (LMS)

A CRM-like tool to organize and follow up on business inquiries, integrated into the supplier
dashboard.

Advertising and Promotion

Targeted ads and homepage banners help businesses reach more buyers.

Business Support Tools

Integration with tools like Vyapar App (for billing and accounting) and other SME solutions for
inventory and GST filing.

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 Industry Focus

IndiaMART supports businesses across:

 Manufacturing
 Retail & Wholesale
 Agriculture
 Construction
 Electronics
 Healthcare
 Apparel & Textiles
 Food Processing

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 Marketing Strategies

IndiaMART’s Marketing Strategies: 4Ps Analysis

1. Product

 Core Offering: IndiaMART provides a digital B2B marketplace where businesses (suppliers and
buyers) can connect, trade products, and services.
 Diverse Categories: The platform covers over 100+ product categories, including industrial
equipment, agriculture tools, consumer goods, machinery, construction, textiles, etc., serving a wide
array of industries.
 Value-Added Services: In addition to the marketplace, IndiaMART offers services like lead
management, verified listings, and premium membership plans (e.g., TrustSEAL, Dynamic Catalog)
to boost seller visibility and credibility.
 Tech Integration: Features such as AI-driven product recommendations, RFQ (Request for
Quotation) system, mobile app accessibility, and business intelligence tools make it easier for
businesses to connect and trade.

2. Price

 Freemium Model: IndiaMART follows a freemium pricing model. Basic listing and marketplace
access are free for suppliers, but they can upgrade to premium membership plans for increased
visibility and access to premium services.
o Free Services: Basic profile creation and product listing.
o Paid Services: Premium services include dynamic catalogs, TrustSEAL (for verified
suppliers), featured listings, and ads on the platform. Pricing is tiered based on the level of
visibility and services chosen.
 Competitive Pricing: IndiaMART’s pricing strategy remains competitive in comparison to other
B2B platforms like TradeIndia and Alibaba, ensuring value for businesses, especially small and
medium enterprises (SMEs).

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 3. Place

 Online Platform: IndiaMART operates primarily through its website and mobile app, which are
accessible across India and to international markets. Its platform enables businesses to list products,
interact with buyers, and manage transactions.
 Geographic Reach: IndiaMART has a strong presence across India, serving businesses in major
cities like Delhi, Mumbai, Bengaluru, Chennai, Kolkata, etc. It also allows small businesses and
MSMEs from rural areas to expand their market reach nationally and internationally.
 Mobile Access: With an increasing number of small business owners relying on smartphones, the
IndiaMART mobile app is a key place for transactions, ensuring ease of use and instant access to
potential buyers and suppliers.

4. Promotion

 Search Engine Optimization (SEO): IndiaMART invests heavily in SEO to ensure that its website
ranks highly on search engines, making it the go-to platform for B2B transactions.
 Content Marketing: IndiaMART publishes blogs, case studies, and success stories to educate
businesses about digital transformation and the benefits of joining their platform.
 Paid Advertising: IndiaMART utilizes online ads, including Google Ads, social media marketing,
and sponsored product listings, to promote their services and attract both suppliers and buyers.
 Brand Awareness: The company uses TV and radio campaigns, especially targeting SMEs and
entrepreneurs, to build awareness about its platform’s benefits.
 Referral Programs: IndiaMART runs referral schemes and provides incentives for existing customers
who bring in new suppliers or buyers.
 Email Marketing: Regular newsletters and personalized emails help keep existing customers
informed about new features, trends, and promotional offers.

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 Summary of IndiaMART's 4Ps Marketing Strategy:

 Product: B2B marketplace with verified listings, lead management, and AI-based tools.
 Price: Freemium model with tiered paid services for additional visibility and tools.
 Place: Accessible through the website and mobile app, with national and international reach.
 Promotion: Strong focus on SEO, paid ads, content marketing, TV/radio campaigns, and referral
programs.

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 Operations Infrastructure

IndiaMART operates as a digital platform connecting suppliers and buyers, with various teams and
processes ensuring the smooth functioning of the platform.

Key Operational Functions:

 Supplier Onboarding: IndiaMART’s operations team works to onboard new suppliers through a
verification process. This includes checking the business credentials and product authenticity to
ensure reliability and trust.
 Lead Management System (LMS): The platform uses an internal CRM-like system for tracking and
managing leads, improving efficiency in responding to inquiries.
 Customer Support: A dedicated support team assists both buyers and suppliers in resolving issues,
handling disputes, and offering guidance on using platform features.
 Payment Processing: IndiaMART has integrated secure payment gateways to process transactions,
facilitating B2B deals between buyers and sellers.
 Logistics and Fulfillment: While IndiaMART doesn’t directly handle physical goods, it partners with
logistics companies to provide shipping and delivery options to suppliers and buyers.

Key Functions in Operations:

 Sales Operations: Managing outreach, business development, and lead generation for suppliers.
 Product Management: Continuously updating and improving product categories and listings based
on demand trends.
 Platform Maintenance: Ensuring high availability, uptime, and security of the marketplace to handle
a large volume of transactions daily.

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. Technology Infrastructure

IndiaMART’s technology infrastructure is built to handle large-scale operations, providing a seamless and
secure user experience. Below are some of the key components:

Cloud Infrastructure

 IndiaMART operates on cloud-based infrastructure, ensuring scalability, flexibility, and security.

The use of cloud services allows the platform to scale up or down quickly based on user demand.
 IndiaMART uses cloud service providers like Amazon Web Services (AWS) or Microsoft Azure to
host its platform and data, ensuring global accessibility and minimal downtime.

Data Management and Analytics

 Big Data Analytics: IndiaMART leverages data analytics to track user behavior, product trends, and
market demands. This helps businesses better understand their target audience and optimize product
listings.
 AI and Machine Learning: IndiaMART uses AI-driven algorithms for product recommendations,
matching buyers with suppliers, and improving the search functionality to make the user experience
more efficient.

Mobile and Web Platform

 Responsive Web Platform: IndiaMART’s website is designed to support desktop, tablet, and mobile
users. The platform is optimized for fast browsing and ease of navigation.
 Mobile App: IndiaMART offers a mobile application for iOS and Android users, enabling suppliers
and buyers to engage in business on the go, submit RFQs, and communicate easily.
 Search and Filtering Technologies: The platform uses advanced search algorithms to provide users
with the most relevant product listings, reducing the time it takes to find products and suppliers.

Security and Data Privacy

 SSL Encryption: All transactions and user data on the IndiaMART platform are secured with SSL
encryption, ensuring privacy and preventing unauthorized access.

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 Trust and Verification: IndiaMART incorporates two-factor authentication and other verification
methods for both suppliers and buyers, fostering a safer environment for business dealings.

Payment Gateway Integration

 IndiaMART supports multiple payment options through integrated payment gateways. This allows
for secure transactions in various modes (credit/debit card, net banking, etc.), and ensures smooth
financial exchanges between buyers and sellers.

Integration with Third-Party Tools

 Vyapar App: IndiaMART has integrated with Vyapar, a tool for GST invoicing, accounting, and
business management for SMEs. This integration provides a holistic business solution for suppliers.
 ERP Systems: IndiaMART integrates with certain ERP (Enterprise Resource Planning) systems to
help businesses manage inventory, orders, and invoicing directly from their platforms.

Scalability and Flexibility

 Scalable Architecture: IndiaMART’s infrastructure is designed to scale efficiently, handling millions

of products, transactions, and simultaneous users without compromising performance.
 Global Reach: Despite focusing on India, the platform is accessible internationally, enabling
suppliers to reach global markets. It supports multiple languages and currencies to cater to buyers
from different countries.

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 Financial Performance

In Q3 FY25, IndiaMART reported strong financial performance with a 16% growth in consolidated revenue
from operations, reaching Rs 354 Crore. This includes a 16% growth in IndiaMART Standalone revenue
and a 30% growth in Busy Infotech revenue. The company also saw a 10% increase in collections from
customers, reaching Rs 363 Crore. Net profit for the quarter was Rs 121 Crore, with a margin of 30%,
according to an IndiaMART press release.
Key Financial Highlights:

 Consolidated Revenue from Operations: Rs. 354 Crore (up 16% YoY).

 Standalone Revenue: Rs. 337 Crore (up 16% YoY).

 Busy Infotech Revenue: Rs. 16 Crore (up 30% YoY).

 Collections from Customers: Rs. 363 Crore (up 10% YoY).

 Net Profit: Rs. 121 Crore (margin of 30%).

 Deferred Revenue: Rs. 1,492 Crore (up 17% YoY).

 Cash Flow from Operations: Rs. 114 Crore.

 Cash and Investments: Rs. 2,606 Crore.

---

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 SWOT ANALYSIS

Strength:
1. Network Effects:

2. Strong Brand

3. Proven execution capability of the Management:

4. Reservoir of supplier/buyer behavior data:

5. Verified Suppliers and Payment Protection Systems

6. Capital Allocation:

Weakness:

1. Currently not a full stack solution provider

2. Not charging a fee on the transaction value that happens because of IndiaMart

Opportunities:

1. Hug growth potential

2. Cross Selling:

Threats:

1. New competitors have entered the field with a different business model

2. 2. ONDC:

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Page23
 Future Growth Strategies

IndiaMART plans to: AI and Automation Expansion – IndiaMART plans to enhance AI-driven business
solutions for seamless transactions, improving efficiency and customer engagement.
Financial Services Growth – Expanding credit, loans and digital payment solutions to support SMEs and
enhance financial accessibility.

1.Invest in AI and data analytics

2.Expand into rural markets
3.Enhance its global reach through strategic partnerships

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 Conclusion

IndiaMART stands as a powerful bridge between Indian SMEs and global opportunities. With its innovative
business model and continuous technological advancements, IndiaMART is poised for significant growth in
the years ahead.
IndiaMART's sustained profitability and positive cash flow demonstrate its resilience in the competitive
B2B e-commerce landscape. Its strategic approach to customer retention and focus on profitability, rather
than solely pursuing growth, positions it for continued success. By leveraging its strong network and
understanding of the Indian business ecosystem, IndiaMART can further expand its reach and impact on the
B2B market.

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 References

 IndiaMART Website (www.indiamart.com)

 Financial Reports FY24
 Business Standard
 Economic Times
 Company Annual Reports

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