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Want to digitise your inventories? This Indian MSME goes cross border to Digitise Inventories.

MSME

MSMEs(Micro Small and Medium Enterprises) in India is an extensive contributor to the socio-economic development of the country and superfluously with respect to entrepreneurship development mainly in semi-urban and rural spaces of India.

Creative manufacturing with over 200 million artisans is the largest employment-inducing sector in rural India.

Though Agriculture will always be on the top of the list, it is followed by creative manufacturers.

Pandemic hit the handloom and handicraft sector magnificently and the Gateway to the offline forum was sealed. Since every business was going online and that was the only way to sustain itself in the market. And also these industries shuffled their concentration from B2C and B2B players over the years. 

Among a lot of industries, there is this Noida-based industry Lal10, launched in 2017, which is a vertical wholesale marketplace for ethically made, handicraft products for categories of lifestyle and home.

Lal10’s Karigar Application is used by small manufacturers to digitise physical inventories which are made available for the wholesale market through their digital stores on the Lal10 platform.

Lal 10 was started by three engineers from IIT Madras, NITIE and DCE, Sanchit Govil, Albin Jose, and Maneet Gohil. The company is working with around 600 MSMEs across the country and has digitised 15,000 products. This endeavour helps MSMEs to easily maintain, digitise and sell their inventories for cross-border wholesale.

Lal10 covers its customer base in the Middle East, North America, Europe, and Australia.

Bridging the gap between MSME’s and Customers

MSME For Small Business owner

The venture mostly targets resellers on platforms like Amazon,mon&pop shops, and ETSY to target cross-border wholesale business and also to induce these products in bulk. Karigar application suggests contemporary designs to global space. With the increase in income by 23 per cent by rambling the price of the products and providing them with a huge market.

The main hurdle in manufacturing in rural areas is supplying. Maneet Gohil, who is one of the members who started the company believes that relationship and trust have been the company’s biggest advantage.

“We conquered the challenges of quality through stringent SOPs and training of our verified manufacturers. Most of these sellers have not been online ever, and many are mobile-first. Creating the technology for them took us several iterations,” Gohil explains.

Strengthening the growth of Local MSME’s

Lal10 was created with an aim to improve the condition of local MSMEs in India with a disintegrated supply chain in creative manufacturing and this is done by digitising small and medium rural manufacturers to help them take their products to global space.4

“We advised them to create contemporary designs from the same manufacturing techniques and materials which can make their products more marketable,” he said.

Fous of the company is on digital marketing and analytics to analyze and attain suitable buyers across European Union and the United States. Lal10 was very upfront in enquiring from small and medium customers in the global space where buyers were gradually becoming more vigilant about acquiring creative goods. They are also focussing now on technological innovation for their mobile employers.

“With a strong supply base, we are growing our traction on demand at 80% MoM. In the next few quarters, we intend to tap a larger portion of US and EU markets. We are also in the process of launching a warehouse in the US and are planning to expand our supply reach to South Asian countries like Thailand, Vietnam, Indonesia, and the Philippines,” he said.

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