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Very lately, B2B e-commerce businesses were unable to penetrate the highly unorganized sector. Some B2B enterprises have thrived ever since the end of 2016. According to experts, demonetization and the GST compelled some small and medium-sized businesses to conduct business via digital channels. Per an April report published by the Confederation of Indian Industry and Deloitte, the worldwide B2B industry is estimated to reach over $700 billion by 2020.
Indian e-commerce companies are beginning to organize this mammoth market. Several additional B2B e-commerce businesses have attracted significant sums of cash in the last year. Even the government has developed a new website, the Government e-Marketplace, to improve the efficiency of public sector procurement. According to a report in The Economic Times, the State e-Marketplace has handled transactions of 32,000 crores since its introduction in 2016.
B2B e-commerce has been fuelled by structural shifts in the business brought about by macroeconomic reasons. The introduction of the GST simplified interstate commerce, while demonetization prompted firms to explore digital payments. While 4G mobile gave reliable and secure internet connections, which increased enterprises' willingness to conduct business online.
B2B e-commerce platforms generate revenue in four distinct ways: first, by facilitating commerce (through commission-based purchases and sales); second, by charging for logistics operations; third, by providing finance and credit; and fourth, by providing so-called value-added solutions such as marketing and analytics. At the moment, the majority of B2B internet platform clients pay for the first three but do not employ value-added services like online advertising or analytics.