India stands 6th in natural rubber production and 2nd in world consumption. Widely used as an industrial raw material, total natural rubber trading in India accounts for approx. 2200 million USD. Further, Rubber Industry in India is estimated to be worth Rs 12,000 Crores, Under the Ministry of Commerce and Industry, the Rubber Board of India plays a vital role in developing and supporting the entire Rubber Industry. Aimed at bringing transparency to the natural rubber trade, recently, the Rubber Board came up with a proposal to build an online trading platform that will complement the supply chain, comprising producers, dealers, processors, and manufacturers.
This was a prestigious yet complex project that required the expertise of the best in this business. Ahmedabad-based i-Sourcing Technologies, founded by Vishal Dhori, Pankaj Modi, and Palak Shah in 2014, were considered the ideal solution provider for this and were boarded by Rubber Board to develop their e-Trading platform.
I-Sourcing Technologies’ smart application of knowledge, research, and insights resulted in a smooth creation process. The platform is now ready to be launched. It will facilitate online trading of Rubber with features like e-Trade, e-Bidding, e Payments, Quality Certifications, Trade Contracts Management and Invoicing & Delivery Tracking. Both the founders of i-Sourcing Technologies and Rubber Board trust that this will bring transparency and efficiency to the supply chain, thereby reducing the turnaround time for all the stakeholders.
Co-Founder & Head of e-procurement Services at i Sourcing Technologies Vishal Dhori said that even for a well-versed company like theirs, it was very challenging to design and develop a state-of-the-art platform for rubber trading where they had to consider various aspects ranging from ensuring seamless transactions for producers, traders, and manufacturers to developing an escrow mechanism to ensure that system is acceptable to all.
He also mentioned that they are carrying out similar projects for e-auction, e-procurement, and online lottery systems in collaboration with various state Governments. Co-Founder Palak Shah highlighted that over the years, these young entrepreneurs have worked on multiple Government projects like Sealed Bid & e-Auction, Total Payment Collection for Rajasthan Housing Board, BHEL and HEC Ltd, e-Procurement Solution for Bangalore International Airport for Domestic & International bidding, and Properties e-Draw for Town & Country Planning to name a few.
*Our focus lies on creating a complete solution that would help businesses automate the entire bidding process and for the Government to create an end to-end e-procurement solution”, quoted Co-Founder Pankaj Modi.
At the moment, the team has a lot of eyes and ears around them as the start-up enthusiasts shall be adding yet another feather to their hat. The brainchild of i-Sourcing Technologies and Co Founder Nirav Shah, Zyapaar is all set to launch this year. The founders have described Zyapaar as a path-breaking virtual B2B platform for every businessperson, service provider, and corporate organisation that will serve as a network building space and will aid in creating a unique digital identity.
After helping Rubber Board digitize the rubber marketing system, i-Sourcing Technologies’ next innovation, Zyapaar could be a game-changer for SMEs & SMBs. This platform reflects a massive potential for overcoming challenges such as limited network, high-cost digital presence and acquiring credible leads that eventually hinder their business growth. Here’s wishing them Zyada Network and Zyada Vyapaar in the years to come!