Role of LAL10 in Growing the MSME Sector in India
India has a rich culture and heritage renowned all over the world. The creative manufacturing sector with handicrafts and handloom products of India are quite in demand domestically as well as internationally. However, the MSME sector in India, especially that of the handloom and handicraft industry, faces various challenges in promoting themselves on a national or global platform.
In fact, according to research conducted by Google and KPMG, out of the 51 million small and medium enterprises in India, 68% are not connected to the internet. With the marketplace turning digital, this is a major impediment to the development of the MSME market in India. This is where Lal10 comes into the picture.
Lal10 is an online B2B marketplace promoting authentic Indian creative manufacturing. It showcases different types of handicraft and handloom products on its website allowing global retail businesses to source these products. This gives the MSME sector in India online visibility and helps their growth.
Role of LAL10 in the growth of small and medium enterprises in India
Here’s how Lal10 plays a strategic role in the development of the MSME sector in India.
Diverse product catalog
Lal10 offers a vast variety of product types and items to choose from. Whether it is home furnishings, office decor, accessories, or apparel — you name it, and you would find it on Lal10. Take your pick from the catalog and buy it online.
Strong logistics and technology
Lal10 uses strong supply chain processes and systems to source products directly from micro and small sellers and then deliver them to customers. It has an advanced mobile app, using which clients can connect with manufacturers and pick the products that they like. Once an order is placed, Lal10 facilitates quality assurance, packaging, logistics and payments so that the product reaches the customer easily. Lal10 also applies advanced technology and customer relationship management to provide real time enquiry to order tracking for the buyers. They have a design to delivery platform for transparent tracking of every order. The team strives to reduce the lead time of fulfilling every order using technology.
Elimination of middlemen
Lal10 has eliminated middlemen from the entire trade process. It effectively and directly connects the MSME market in India with both the Indian economy and global economy. It also collaborates with the MSME sector in India by educating them to design products that resonate with the masses. This creates a better demand for the product. Moreover, by having no middlemen, Lal10 ensures that customers get the best pricing and quality and the artisans earn the money that they deserve. Lal10 facilitates working capital and raw material procurement to sellers, enabling a robust ecosystem for the entire sector.
With exports to more than 18 countries, Lal10 has served more than 400 retailers and is making an impact on the global economy. Some of its buyers include resellers on Amazon.com, ETSY to reputed brands like Zara, Anita Dongre, Reliance Retail, Tata Taneira, Myntra. Thus, Lal10 is making a positive contribution to the Indian economy by promoting those MSMEs in India that have not yet received the recognition they rightfully deserve.
So, if you are a retailer or a seller, sign up on LAL10 and experience all that the platform has to offer.
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