Small biz gets a new home in Alibaba TFC

Small biz gets a new home in Alibaba TFC

Chinese ecommerce giant Alibaba has put in place linkages for its leading business-to-business (B2B) platform, the trade facilitation centre (TFC), with partners in logistics, banking, and certification to champion the SME (small and medium enterprises) market in India.

The TFC, in the light of the ‘Make in India’ campaign, hoped to encourage and support SMEs in manufacturing by providing a one-stop solution to all their trade requirements. The platform, which claims to have 4.6 million members in India, will give SMEs access to comprehensive trade services.

The new TFC is an improvement over the previous arrangement Alibaba had to offer. Previously, though merchants could connect with each other on the Web portal, trade facilities and processing were difficult.

This should now be a thing of the past with Alibaba partnering several Indian players with domain expertise to provide a wholesome package of trade services to its clients.   
Ease of biz is key

Mumbai-based logistics solutions provider, MYPACCO has been roped in as the logistics partner to provide services ranging from freight forwarding, customs clearance, documentation, warehousing, and transportation to 3PL (third party logistics) services. “With the TFC, small businesses can concentrate on what they do best and the rest can be taken care of by us,” said Vinay Bhartia, co-founder and CEO, MYPACCO.

Alibaba has also tied up with ICICI Bank in order to make financial services easily accessible on the platform. The tie-up will help members to have quick access to banking services like loans, cash management, foreign exchange transactions, bank guarantees, and cross-border remittances. ICICI Bank has also offered to extend special rates and discounts to Alibaba customers.

Alibaba has  brought in SGS to provide inspection, verification, testing, and certification services for merchant products. The push here is on achieving standardisation of goods in order to make the process of exporting hassle-free.

In addition to providing ease of access to trade services, the platform is said to act as an educative channel which will help SMEs find their way through the complex trade environment in India. “The TFC will allow SMEs to expand their operations throughout India and beyond,” said Bhushan Patil, channel director for Alibaba, in a release. “The platform proposes to ultimately achieve greater participation for India in the global economy,” said Vinay Bhartia.

For friendly trade...

  Alibaba launches Trade Facilitation Centre in India
  TFC to provide trade solutions for over 4.6 million members in india
  Alibaba ties up with MYPACCO, ICICI and SGS for TFC
  TFC to act as an educative channel for domestic traders

Narendra Modi or Rahul Gandhi? Who will win the battle royale of the Lok Sabha Elections 2019

Get real-time news updates, views and analysis on Lok Sabha Elections 2019 on 

Like us on Facebook or follow us on Twitter and Instagram with #DHPoliticalTheatre for live updates on the Indian general elections 2019.

Comments (+)