India’s B2B industry will be a US$ 200 billion opportunity: Bessemer Venture report
According to a recent report by venture capital private equity company Bessemer Venture Partners, India's Business-to-Business (B2B) online marketplace would be a US$ 200 billion opportunity by 2030.
The report titled ‘The Emergence of B2B Marketplaces in India’, claims that a number of factors, including increased business adoption of digital technology, developed digital infrastructure as a result of digital payments, ONDC, OCEN, and GST, favourable regulatory policies brought about by the implementation of the GST, e-way bill, and TReDS, as well as a supportive cross-border environment, will help in the expansion of the Indian online B2B marketplace.
According to the report, the three most promising B2B marketplace verticals will be product marketplaces (which offer products to businesses in the healthcare, agriculture, fashion, FMCG, etc.), service marketplaces (which connect businesses with service providers such as freelancers, consultants, and agencies and operate in verticals like marketing and sales), and marketplace enablers (platforms that provide tools and technology related to quality checks, logistics, and other business-related issues).
Bessemer Venture Partners Partner, Mr. Anant Vidur Puri stated, "The B2B opportunity in India is still in its early days. Startups in B2B marketplaces have the chance to follow the same growth trajectory as B2C internet companies did over the past ten years in the coming five to ten years.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.