18 January 2021, Mumbai: Tradologie, India’s leading Next Generation B2B trade and smart digital global sourcing platform setup with an aim of digitalizing the current Import-Export trade and the bulk Domestic Trade which brings the manufacturers directly in contact with bulk consumers across the world has added Eight new product segments to its platform as well as plans to foray into Europe and trade Euro currency.
Tradologie, global enquiry-to-delivery trade enablement platform, launched eight new products segments including five new commodities in the agriculture sector. Tradologie now offers raw cotton, meat, vegetables, Edible Oil and Frozen Foods in the agri-commodities segment. The agro commodities offered earlier included wheat, rice, sugar, spices, dry fruits, pulses and edible oils.
Tradologie currently with the help of a robust technology framework and a hardworking team having knowledge of doing business in the Middle East has been focussing on tapping the major Eight Gulf countries and servicing to their needs of 16 basic commodities of mass consumption including agro-metal and construction products, The company has been providing the stakeholders, a platform, which replicates the current trade practices and provides enquiry to payment (End-to-End) solution to help them in conducting international business in a transparent and cost efficient manner.
Apart from adding new segments Tradologie after successfully launching two platforms, i.e. INR (₹) for Domestic Trade, and US dollar ($) for Global Trade, Tradologie will be soon launching another platform to facilitate Euro Trade (€), giving benefit of technology to European Union (EU) Region and helping them expand overseas by end of this Financial Year (FY) Quarter. Along with this, Tradologie is coming with an easy payment solution, which is the need of the hour for many traders which were severely affected by global economic slowdown
“With foray in Europe Tradologie shall be able to rope in a vast majority of buyers and Government Procurement Departments in the Europe region by providing them an alternative to the time consuming and costly tendering system which narrows their reach to a few global suppliers due to the highly fragmented nature of the market.in various European countries “said Mr J.K.Arora, Chairman and founder of the Global sourcing digital platform Tradologie.com.
Tradologie currently has buyers in 65 countries and is helping businesses as digitization and creation of specialized ecosystems as solutions to mitigate challenges faced by the International Trade Community are mooted by experts. It. It aims to spread across the globe by 2021 and service more than a million buyers with a strong supplier network.
Tradologie.com has seen tremendous growth in this COVID Impacted year and has been able to achieve a Gross Merchandise value (GMV) in Excess of Rs 1600 crore in the first nine months of FY 20-21. The Platform has seen a Sharp increase in the Membership by Exporters from across the world and better conversion due to the impact COVID has had on the Traditional Business Practices.
“Tradologie was set up just four years back with an aim to digitalize existing market practices and minimize human intervention. The Disruption Cause by COVID has made the stakeholders realize that Technological Solutions are much more Cost Effective and Efficient alternatives to the age old Broker Based Procurement. “Said Mr Arora.