Keen to take advantage of the rapid shift towards digital transformation in the procurement processes of the B2B industry across various industrial segments, the Noida-based e-commerce platform Moglix is pinning its hopes on leveraging Dubai and the UAE’s hub status as a global supply chain, logistics and manufacturing hub for exponential growth.
- Also read: Moglix aims to turn profitable in 18 months; targets growth rate of over 30% YoY in next few years
Piyush Malviya, Vice President-Middle East Business, Moglix, said the company – which expanded its operations in Dubai in 2021 as part of global expansion plans – is committed to harnessing Dubai’s potential by aligning with the escalating demand for digital solutions in the procurement sector.
Malviya said the B2B industry in the UAE holds substantial economic significance, with the current manufacturing sector contributing AED 133 billion ($36.2 billion) to the GDP. There is a clear trajectory aimed at bolstering this contribution, with an ambitious target set to achieve AED 300 billion ($81.7 billion) by 2031 as part of the nation’s Operation 300 Billion.
The potential for e-procurement of B2B industrial products in the UAE holds significant promise and growth prospects within the Middle East region. Across various industrial segments such as manufacturing, oil & gas, real estate, facility management, hospitality, and education, there is a notable trend towards digital transformation in procurement processes. This shift is driven by the recognized efficiencies and cost-saving advantages offered by digital solutions, he said, adding that the company currently serves over 1000 SMBs contributing both to the vendor ecosystem and as customers benefiting our services.
He pointed out that the ongoing development and expansion of infrastructural projects, including those in railways, ports, and airports, contribute to a dynamic ecosystem of industries supporting such ventures. E-procurement plays a pivotal role in addressing crucial supply chain challenges by ensuring product discovery and timely delivery, thereby supporting the evolving needs of these industries.
The company recognizes the increasing demand for digitalization across various sectors, particularly among large corporations. By applying e-commerce technology’s fundamental principles to the B2B supply chain, Moglix has introduced innovative solutions tailored specifically for enhancing procurement processes across key sectors including manufacturing, e-commerce, and others.
Asked about the prospects of CEPA between India and UAE, he said this agreement has brought about comprehensive benefits that have a direct impact on our business operations. “While the agreement is in its early stages, we are actively exploring various avenues to leverage its depth and extent to our advantage,” he said.
Moglix’s strategic presence in Dubai plays an integral role in facilitating Indian businesses to leverage the UAE’s re-export capabilities, thereby extending their global market reach effectively. Dubai’s world-class infrastructure, robust connectivity and business-friendly environment, Malviya believes positions it as an ideal hub for Indian businesses to expand their global market reach.
Apart from its presence in the US and Mexico, he said Moglix has ambitious plans to further expand its footprint into other significant economies, particularly within the GCC region, in the coming year.
Published on January 1, 2024
