While the company has already started sourcing products under the fashion accessory category on a pilot basis, it plans to add mobile accessories and home decor products to the list.
Besides connecting Indian sellers with “trusted larger suppliers from China”, Paytm also seeks to offer logistics.
The firm will offer these sellers support of bonded warehouses in India and consolidation centres at the source country.
“Many Indian sellers don’t have capability to fly to China to check quality, variety and buy goods,” Bhushan Patil, President at Paytm said. “This is where the Paytm works best for them as it bridges this gap and connects them to the Chinese sellers and enables quality and efficient transactions.”
Patil, who joined Paytm after five years of service at the Alibaba, said the company plans to connect 10,000 SMEs with Chinese suppliers by the end of this year, enabling access to more than 5 million Chinese products.
Paytm, which has earlier announced tie up with NBFCs, also aims to support these SMEs in getting access to extra capital to buy additional inventory through loans.
Source: The Hindu