India catching up with online B2B : India News

Business to business collaborations in India are going virtual. Many Internet savvy businessmen here are finding a partner and even landing deals online. Though at a nascent stage, experts say it is redefining the age-old ways of doing business and has great potential.

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Online networking is being touted as the new-age way of doing business, where people need not travel physically to remote locations for promoting their businesses. Moreover, it's faster, there are more choices available and it is more economical.

It is estimated that in 2006, the annual retail business in US alone would be worth around 105 billion dollars. The net global online trade is fast approaching the trillion dollar mark. In India about Rs 2500 to Rs 3000 crore worth online business was done in the last financial year.

Industry watchers predict that by the turn of the century, almost all forms of collaborations would be done via a software or using online process. This would save the companies millions of dollars in travel, infrastructure and promotion cost.

Internet is fast emerging as a reliable medium for doing work globally, and companies in India are catching up with the advantages of doing business remotely, without the costs of travel and sending people abroad," says Mahesh Murthy of Pinstorm Technologies, an online marketing firm.

Though the brick and mortar model of business continues to flourish, a silent revolution is taking place where people need not travel physically to remote locations for promoting their businesses. Though the birth of e-commerce happened some time back, its significance in the form of cutting costs across the enterprise has been realised quite recently, says Gurudatt Shenoy of Netalter, a software company.

For B2B collaborations, a proliferation of new collaborative tools is taking place with almost all major software vendors bringing out multiple business to business and business to client tools, says Shenoy, whose group has developed a browser, which forms virtual network with the client, dealers, agents and vendors.

"There are various factors which drive online retail businesses in India and also affect its growth. One is the penetration of ISP and the other trust and security of online transactions... People are still not very confident of sharing personal information," he says, noting not many people are even aware on online networking other than using sms on mobile phones.

However, broadband penetration is increasing in major cities and this would lead to increase in online transactions, notes Shenoy.

In fact, Murthy notes corporates in India are already doing business with other companies online. They handle marketing for large business clients from Europe, USA and South East Asia, work with them on the Internet, are able to demonstrate results, track projects in process, bill them and even get paid online through fund transfers and credit card payments.

"There is much more chance of your credit card being misused by a waiter in a restaurant than by a miscreant online," says Murthy, noting "we are yet to come across any instance of cheating."

"The Indian cyber laws are a step in the right direction to build confidence among consumers and businesses that their data will be protected and their transactions are secure. However, the laws need to go a step further and keep up with the times," notes Murthy.

Cityscape Dubai now largest B2B real estate platform in the world

IIR Middle East the organisers of Cityscape Dubai 2006, which is due to take place at the Dubai International Exhibition Centre (DIEC) on 4-6 December 2006, announced that the premier property investment and development event has grown to such an extent that it is now clearly the largest event of its kind in the world.

According to Cityscape Dubai Exhibition Director, Rohan Marwaha, “Cityscape can now legitimately claim to be the world’s biggest b2b event in the property investment and development sector. Last year we booked 11,000 square metres of exhibition space which made Cityscape the undisputed market leader in the Middle East. We have now secured an additional 14,000 square metres, making a total of 25,000 square metres which represents 130 per cent annual growth. This means we will now surpass the likes of MIPIM in Cannes and Expo Real in Munich, to the number one spot.”
Earlier this year, the Cityscape officials confirmed that an astonishing 80% of exhibition space had been sold, nine months ahead of opening. At that stage 16,000 square metres had been reserved, but due to unprecedented demand, Cityscape now has grown still further to the record-breaking size of 25,000 square metres.

The final figures for the 2005 show were striking in their own right, 281 exhibitors from 29 different countries, 23,552 industry professionals participating from 85 countries and 626 conference delegates and speakers. At Cityscape Dubai 2005, real estate projects worth US$27 billion were announced.

“Having increased the amount of exhibition space by 130 per cent year-on-year, Cityscape Dubai 2006 will undoubtedly trump last year’s impressive figures. Not only is Cityscape the largest in the world, it is the fastest growing and the most diverse with up to 85 countries being represented, clearly reflecting the regional market growth,” added Marwaha.

To date regional heavyweights, Emaar Properties, Nakheel, Tanmiyat Group, Aldar Properties, Ilyas & Mustafa Galadari Group and Dar Al Arkan have signed up as platinum sponsors, with The Commercial Real Estate Co. Tameer and Saraya Holdings taking gold sponsor status, with Future Brand and Mawared going for silver.
The three-day exhibition and conference attracts key investors, property developers, architects and designers amongst others. Cityscape Dubai 2006, as in previous years will feature the hugely successful Cityscape conference, which last year attracted 80 internationally acclaimed speakers who gave 50 presentations as well as dedicated workshops devoted to specific industry issues. The coveted Cityscape Architectural Review Awards will also be distributed during a glittering gala dinner, these international awards are keenly contested and the 300 entries received last year are sure to be surpassed this year.

Commenting on the future of Cityscape, Marwaha declared, “We have recently announced plans to export the Cityscape brand to Abu Dhabi, Singapore and Shanghai. Considering that this show is only five years old, the brand-potential is colossal. This year’s event must be the most eagerly anticipated ever, and a true measure of Cityscape’s eminence on the international industry calendar”.