TradeIndia, a B2B marketplace, plans to bolster its operations and enable more SMEs and MSMEs in Tamil Nadu with its digitised solutions.

While it already has a strong presence in the region with over 8,00,000+ registered users, TradeIndia plans to onboard more businesses from the automobile, leather, textiles and apparel, and engineering components, to expand its widespread network of manufacturers, distributors, exporters and importers, according to a statement.

Tamil Nadu has the third-largest number of MSMEs in the country with a share of 10.3 per cent and about five million enterprises. It also accounts for nearly 15.24 per cent of India’s micro-enterprises and has the highest number of non-farm units.

Address challenges

The MSMEs of Tamil Nadu provides a strong and reliable vendor base to large industries in the State. TradeIndia plans to address capital-related challenges of MSMEs in the region with its digital lending solution — TI Lending, which will allow them access to instant business loans & credit facilities of up to ₹50 lakh with a disbursal time of 24 hours.

“The Indian and State governments have launched various schemes, policies & initiatives to support the SMEs & MSMEs in the region. Tamil Nadu is a key market for us. We plan to encourage small businesses to expand their operations by equipping them with digital solutions & fostering a conducive environment for them to grow,” said Jai Gopal Nair, Senior Vice President, TradeIndia.