Paytm now gets China’s suppliers to Indian market - Hindustan Times
close_game
close_game

Paytm now gets China’s suppliers to Indian market

Jun 27, 2016 09:12 AM IST

NEW DELHI: Paytm is looking to bring a part of the $70 billion worth of annual imports from China, online.

HT Image
HT Image

As part of the programme, it has already identified 300 Chinese suppliers for electronics and lifestyle products. In India, the company has chosen 100 Indian merchants to connect with these suppliers.

Hindustan Times - your fastest source for breaking news! Read now.

Paytm has already trained 25 merchants to source from China, and by March, it aims to have 10,000 Indian merchants buying from Chinese suppliers.

The programme is, however, in its early stage — there’s no app or website. Paytm will connect the merchants and suppliers through emails, with logistics and payments support. The products will take 7-25 days to reach merchants in India, depending on the mode of transport.

“It will give me more margins, even after discounts,” a seller said.

Paytm makes money through commissions on goods sold on its marketplace.

A USB cable priced at Rs 100-150 in India is available for Rs 20-30 in China. So for consumers, it will mean access to a number of cheaper Chinese products.

Alibaba, which has invested in Paytm, is already working with a lot of merchants in India on sourcing. “Once we scale up, it will allow us to use a lot of Alibaba’s services and tools,” said Bhushan Patil, president at Paytm.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Sunny Sen was part of Hindustan Times’ nationwide network of correspondents that brings news, analysis and information to its readers. He no longer works with the Hindustan Times.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, March 25, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On