Paytm Mall on Tuesday said its subsidiary Paytm Wholesale Commerce (PWC) has partnered with several entities to take Indian products to markets like Southeast Asia, the Middle East, Africa, and the US.
PWC - a subsidiary of Paytm Mall (Paytm Ecommerce Pvt Ltd) - is a trading house and has tied up with few companies on supply, as well as buyer side, a Paytm Mall spokesperson said.
"We are scouting for buyers through intermediaries and trade shows. Once a query comes in, we go back to our suppliers or commodity market for sourcing as per buyer specifications. We build our costs and quote to the buyer to meet his target prices, if any. On quotation acceptance, we go ahead with processing the order," the spokesperson added.
The entity is taking Indian products like rice, spices, tea, dried fruits, millets, essential oils, quinoa, moringa, organic food, frozen food, fresh fruits and vegetables, pulps, and pastes to international markets.
"We have entered into exports to offer a range of Indian products across the global markets with super efficiency. Our efforts are to become the single largest gateway for global consumers to buy Made in India products. We have a well-established network of suppliers and are deploying our team across the geography," Paytm Mall Senior Vice President Sanjeev Misra said.
The company said it has been engaging with multiple partners like Mawarid Distribution, Mayar Foods, Vedica Organics, Ceegee Impex, and Five River Foodstuff.
"With the target of Rs 500 crore gross merchandise value (GMV) in the first two years of operations, Paytm Mall has been setting up the team in these centres to leverage more opportunities and to carry out the trade across geography in a more efficient manner," the spokesperson added.
In October 2019, Paytm Founder Vijay Shekhar Sharma said that he expects Paytm Mall, the company's ecommerce unit, to break even in another year.
"Paytm Mall business is close to break-even, $3 million EBIDTA loss a month and $1.2 billion-1.3 billion run rate. In a day, we do 275,000-300,000 orders. In the festive season, this peaks to half a million orders a day, double of the average day," Sharma told PTI on the sidelines of the India Mobile Congress 2019.
(Edited by Suman Singh)
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