Ecommerce global giant Alibaba has decided to create a service with a smile for its sellers, by using the ‘SMILE’ acronym to describe its latest initiative, ‘Small & Medium Industries Leveraging Export.’ Through this program Alibaba aims to take its number of Indian sellers from 4.5 million to 10 million by January 2016, which is just around the corner.
- Alibaba has approximately 40 million sellers globally
- In 2013 sales on its sites amassed an estimated $248 billion
- It has a 40% stake in Indian online marketplace Paytm
Egged on by the government’s ‘Make in India’ and ‘Digital India’ initiatives, Alibaba aims to assist Indian online sellers scale up and sell globally, by putting them in contact with quality Chinese producers, besides providing business mentor support.
SMILE will provide assistance with:
“India is the second most important market for Alibaba globally, next only to China for us. India is at a critical point at present and from here we will see sharp upswing in ecommerce. We are very excited in building this consortium for SMEs. Other than matching buyers and supplier we are trying to develop the ecosystem,” said Timothy Leung, head of global business development Alibaba.
Alibaba’s SMILE partners:
- ICICI Bank
- Kotak Mahindra Bank
- Crisil Rating
- Capital Float
“The idea is to grow the pie. India is a very important market for us. All our partners will be promoting each other. For instance, if a small business goes to ICICI Bank, it will tell him to sell on Alibaba. We are not looking at immediate returns with this programme,” stated Leung.
As online sellers, which online marketplace makes you SMILE the most?