Vedanta Limited has said that Vedanta Metal Bazaar, its internet marketplace for purchasing metals, has achieved a total sales value of ₹40,000 crore, or roughly $4.7 billion. With over 1,200 stock keeping units (SKUs) covering metals including copper, zinc, lead, and aluminum, the e-store is increasingly being used by micro, small, and medium-sized businesses (MSMEs), who currently account for 60% of its clientele.
The announcement, which takes place on National MSME Day, emphasizes the metals industry's move to digital procurement. By providing real-time pricing, shipment tracking, Scheduled checks, hedging, financial reconciliation, and embedded credit services through trusted partner or partnerships with banks and NBFCs, Vedanta Metal Bazaar aims to streamline the non-ferrous metals procurement process.
Vedanta claims that in just six months, the platform's active user base has grown by 240% and MSME registrations have increased by 35%. Businesses can buy the necessary quantities from the e-store without having to meet order minimums, eliminating the need for middlemen. Its interaction with hedging service providers, which enables customers to actively control price risks during transactions, is one of its unique characteristics.
Gaurav Verma, Director of Pranava Electrical Industries, said, “Vedanta Metal Bazaar is a game-changer for MSMEs. With its user-friendly platform and no minimum order policy, metal procurement has never been easier.”
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Nilesh Patil, VP-Operations at Kothari Metsol, said, “This is a revolutionary platform offering ease of access and user-friendly interface for buying of zinc. It offers everything in one place and acts as a one-stop solution, from order booking to financial statements to tracking to query handling.”
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