Larsen & Toubro, an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services has announced the launch of L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.
L&T via this B2B e-commerce platform is looking forward to empowering businesses, especially MSMEs, to enable them to source their industrial supplies pan-India, digitally and cost-effectively.
L&T-SuFin hosts a vast selection of industrial products across more than 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.
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.
With digital technologies at the core, L&T-SuFin is poised to transform the Indian business landscape, leading to the formalisation of the traditional supply chains and creating a win-win situation for suppliers and buyers, the company said.
“As India aspires to become a $5 trillion economy, there lies a critical need to digitalise supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises. With the launch of L&T-SuFin, we take yet another leap in our digital transformation journey, building on our legacy of trust and deep understanding of the ecosystem,” said S N Subrahmanyan (SNS), CEO & MD, L&T.
He further added that he is confident about L&T-SuFin transforming the B2B marketplace for industrial products. 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 is designed to be a highly secure platform and will host KYC-verified sellers and buyers vetted by L&T and guarantee a last-mile delivery to over 15,000 pin codes. The platform will provide working capital to MSMEs from a large array of banks and other financial institutions at attractive interest rates. The platform will also provide an online transaction facility for trading products and enabling services with a payment and settlement mechanism that will aid traditional enterprises to take on their newer digital-native competitors.
