Current Affairs   »   Business Current Affairs & News 2022   »   L&T launches SuFin, a MSMEs e-Commerce...

L&T launches SuFin, a MSMEs e-Commerce platform

Larsen & Toubro (L&T) has established the L&T-SuFin e-commerce platform. It is the country’s first complete e-commerce platform for industrial products and services sold to other businesses. The platform’s transaction cost is roughly 1.5 per cent. Through its B2B e-commerce platform, the company aimed to empower businesses, particularly micro, small, and medium enterprises, by allowing them to obtain industrial items digitally and cost-effectively across India.

With digital technology, L&T SuFin is positioned to alter the Indian business landscape, resulting in the formalisation of traditional supply chains and a win-win situation for suppliers and buyers,” the company said in a statement.

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KEY POINTS:

  • All forms of construction and industrial products will be available on the platform. At the same time, logistics and finance would be assisted in an effort to sell industrial items to MSMEs across the country, according to L&T’s Business Head Bhadresh Pathak.
  • “With the introduction of L&T SuFin, we take another step forward in our digital transformation path, drawing on our legacy of trust and ecosystem knowledge. We are confident in L&T SuFin’s ability to alter the industrial B2B sector “, SN Subrahmanyan is the CEO and Managing Director of L&T.
  • Larsen & Toubro will use the SuFIN platform to strengthen the supply chain and build better procedures for buyers and suppliers, according to Anoop Sahai, Corporate Strategy Head at L&T.
  • This will make industrial product availability simple and clear for everyone. L&T SuFin provides a wide selection of industrial goods in over 40 categories, as well as financial and logistical support.

L&T SuFin gave sellers the opportunity to expand their markets. The platform, according to the business, is designed to connect buyers across categories and across India.

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