India Index: Paving the way for seamless cross-border trade

Can you tell us more about the specific challenges that Indian exporters and suppliers face in the global trade landscape, and how India Index addresses these challenges?

Indian exporters and suppliers encounter several unique challenges in the global trade landscape. One significant issue is the ability to seamlessly identify and connect with willing buyers in major markets like the United States. For decades, India’s largest enterprises have benefited from having sophisticated teams that can navigate international marketing and sales channels with great efficacy. But that opportunity doesn’t readily exist for tens of thousands of Indian small and medium size enterprises that want access to global markets. Within a few seconds on our platform, Indian suppliers can immediately identify and connect with US importers looking to fund alternatives to China. This has never been done before.

In addition, international trade sits in a complex regulatory environment, which involves dealing with various government agencies and navigating bureaucratic red tape. Fluctuating exchange rates and the need for foreign currency management pose financial challenges for exporters. Additionally, India's infrastructure limitations, including lacking transportation networks and port facilities, can lead to delays and increased costs. Market access barriers and stiff competition from other countries are also hurdles that Indian businesses must overcome. India Index also seeks to address these challenges by providing exporters and suppliers with valuable tools to seamlessly transact and deliver - all on one platform.

By addressing these structural gaps and challenges, India Index empowers Indian suppliers to compete more effectively in the global market and capitalize on international trade opportunities.

What inspired you to launch India Index, and what is the core vision and mission behind this platform?

My extensive experience and deep understanding of the US-India trade and investment scenario

inspired me to launch India Index. With over 10 years of experience in analyzing and advising on this bilateral trade relationship, I recognized the need for a platform that could bridge the gap between global businesses and Indian suppliers. This insight led me to conceptualize and establish India Index, a market innovator in the B2B supply chain marketplace. In my role as the Founder and CEO of India Index, I am dedicated to building the market positioning of the platform. I am optimistic about India's growth potential and firmly believe in the growth of Indian trade exports. One of our key visions is to support and promote the "Make in India" initiative by providing state-of-the-art tools for both suppliers and buyers.

Within a short span of 18 months since its launch, our platform has successfully attracted a wide spectrum of clients, including Fortune 500 companies and startups, to leverage India Index in their businesses. Our goal is to add Indian suppliers to the global supply chain, enabling them to list their products and services and be discovered by US buyers while maintaining high-quality standards through automated tools.

The core vision behind India Index is to empower Indian companies with the ability to seamlessly trade with importers around the world, starting with the United States. There has never been such an alignment between the United States and India, whether it is based on political, social or economic shared values. India Index seeks to capitalize on that partnership by being the first global platform built on trust and transparency.

How does India Index differentiate itself from other B2B supply chain marketplaces in terms of its offerings and approach?

India Index distinguishes itself from other B2B supply chain marketplaces through its innovative approach and comprehensive offerings. It operates as a market innovator in the B2B supply chain platform space, offering a cloud-based platform that simplifies the process of finding, filtering, and vetting supply chain partners for both buyers and suppliers in a cost-effective manner.

One key factor that sets India Index apart is its commitment to aligning with global best practices in supply chain standards and sourcing processes across various sectors, product types, and geographies. The India Index Supply Chain Certification ensures that users can rely on standardized and globally recognized criteria when evaluating potential partners.

Furthermore, India Index Supply Chain Certification is evidence-based, drawing from an extensive body of research across industries and validated by a collaborative team of experts, including advisors who contribute their insights and expertise to enhance the platform's offerings. To stay ahead and resilient, India Index continuously updates its evaluation process to reflect changes in government regulations and technology. This commitment to ongoing improvement includes the integration of new features and certifications, ensuring that users can make informed decisions in a rapidly evolving business landscape.

What types of products and industries does India Index primarily focus on, and are there plans to expand into other sectors in the future?

India Index caters to all industry segments. However, we have been taking a more narrow approach in which Indian supplier groups need the most support.

To put it into context, the United States currently imports over $500 billion in products from China, covering nearly all industries from industrial parts to consumer products to medical devices. India Index is first targeting industries that currently have the highest volume of trade between the United States and China. Given concerns around intellectual property theft, national security, forced labor and high tariffs, those industries have the best immediate chance at being shifted to India over the next five years.

By routinely collecting, organizing and analyzing data from the US Customs and Border Protection, the United States Trade Representative and the International Trade Administration, India Index uses a unique lens to view where trade opportunities exist today. That edge not only gives our platform unparalleled information to empower suppliers, it allows us to target companies and sectors in ways that will surely benefit “Make in India.”

How does the integration of B2B marketplaces with supply chain networks contribute to enhanced efficiency?

In the next ten years, all procurement will be conducted via B2B procurement platforms. Cold calling, excel sheets and aimless search tools will be obsolete. That’s why we’re very keen on bringing these solutions to the Indian supplier ecosystem today.

Integrating a B2B marketplace with supply chain networks can significantly enhance operational efficiency for businesses. By streamlining the procurement process, businesses can access a broader range of suppliers and negotiate better deals, ultimately reducing costs. This integration allows for real-time communication and data exchange, enabling faster order processing, inventory management, and demand forecasting.

Furthermore, the integration helps in optimizing logistics and transportation, leading to quicker deliveries and reduced lead times. It also enhances visibility across the supply chain, allowing for better risk management and improved decision-making. In addition, a B2B marketplace can foster collaboration among supply chain partners, promoting innovation and mutual growth.

In conclusion, the integration of a B2B marketplace with supply chain networks holds the potential to revolutionize how businesses operate. It provides a more agile and efficient approach to procurement, logistics, and collaboration, ultimately leading to increased competitiveness in the market.

What are your future plans for the next 12 months?

Currently, we’re focused on giving our user experience and interface a fresh face lift. Following those optimizations, we will begin integrating new technologies using Artificial Intelligence to seamlessly match buyers and suppliers. This new feature, called ‘AI Match,’ will revolutionize the way Indian small, medium and large enterprises meet supply chain partners around the world. We are planning to announce ‘AI Match’ as a product for all our customers by the end of the year - it is currently under development.

Next year, we will be partnering with one of India’s largest banking institutions to provide cutting edge payment and financing solutions for buyers and suppliers. Without giving away too much information, this partnership will transform the architecture of cross-border payments. We are also planning to integrate additional services around logistics solutions, which will further close the loop in the supply chain journey.

Lastly, while we are very much focused on building a strong digital bridge between the United States and India, in the coming years we plan to launch in Europe and the Middle East. For now at least, we have our work cut out for us.