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