Alibaba's founder and chairman Jack Ma with Indian Prime Minister Narendra Modi. (Photo : The Financial Express)
Alibaba will be joining hands with Indian logistics solution provider MYPACCO to provide complete logistics services in India through Trade Facilitation Center (TFC).
Alibaba’s TFC, a B2B platform, hopes to connect small businesses with banking logistics and other services.
The platform is an online website for worldwide wholesale trade that provides a platform for medium and small enterprises to meet their requirements in credit, finance and logistics.
When Alibaba’s Jack Ma visited Indian Prime Minister Narendra Modi in March, reports confirmed that the B2B model is the way to go for commerce in India.
Ma discussed with Modi how Alibaba can help empower small businesses in India.
Ma said that it was part of Alibaba’s key strategies to globalize. The chairman also said that the company wants to use their services to do businesses around the globe.
"With the TFC, Alibaba.com will be able to offer Indian SMEs convenient access to various financing, credit and logistic services provided by collaborative partners like MYPACCO, allowing the SMEs to expand their businesses throughout India and beyond," noted Bhushan Patil, channels director of Alibaba.com in India.
Alibaba’s latest venture is an expansion from earlier SME services in India. The SME provided an online platform upon which small businesses can connect with each other. However, the said venture did not offer robust trade and processing services.
Just last month, Alibaba also confirmed its partnership with ECU Line. The latter’s parent company is AllCargo Logistics Ltd., an Indian-based company.
