The company expects to facilitate transactions worth £3.5 billion
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Mumbai: UK-based cloudBuy expects to deliver services faster and at lower transaction cost to its members who trade through its platform by eliminating the supply chain inefficiencies which are estimated at around 30-40 per cent going by global benchmarks.
Nilesh Gopali, cloudBuy, country head, India said, “Our transaction rates would be substantially lower than some of the prevalent players in the B2C segment,” declining to give any figures due to the confidentiality clause. The company and CII signed an agreement in London during PM’s London visit, for an online e-commerce gateway that will connect Indian business with new trading opportunities within the country and around the world.
The company expects to facilitate transactions worth £3.5 billion (Rs 35,266.5 crore) and increase trade further between traditional business partners India and the UK. From an India perspective, he said the portal supports the ‘Make in India’ initiative.
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( Source : deccan chronicle )
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