Grasim Industries to foray into B2B e-commerce for building materials
Grasim Industries said that its board of directors has approved the company’s entry into B2B e-commerce platform for building materials with an INR 2,000crore-investment over the next five years.
According to the Aditya Birla Group flagship company, the investment adds a new high-growth engine with strong adjacencies within its standalone businesses as well as that of its subsidiaries and associate firms.
Kumar Mangalam Birla — Aditya Birla Group Chairman said: “The foray into B2B e-commerce is yet another strategic portfolio choice as it crystallizes our intent to invest in the new-age, high growth digital space. The Building Materials segment presents a huge scalable business opportunity with a proven path to profitability.
“With this foray, Grasim would be able to leverage the large B2B ecosystem within the Aditya Birla Group. This move will also catalyze the growth of the MSME universe in India and provide an impetus to the Government’s vision of ‘Digital India’.”
Grasim Industries said that its digital platform will address different challenges within the existing supply chain. The platform will focus mainly on MSMEs in the building materials segment with the possibility to extend further to other relevant categories.
The company will have a newly hired leadership team from the digital ecosystem to operate the platform.