The JSW Group, led by Sajjan Jindal, plans to expand its e-commerce initiative, JSW One Platforms, and is negotiating with various non-competitive brands for business partnerships.
The technology platform has two business segments – JSW One MSME and JSW One Home (Business-to-Consumer Initiative) – and the group has already invested Rs 250 crore in it.
Currently, JSW One MSME (a Business-to-Business Tech Platform) has a presence across the South and West regions and will be expanded to cover the entire country by the end of this fiscal year. JSW One Home (Business-to-Customer Enterprise), which currently has a presence in parts of South India, plans to increase its presence in the South and West over the same period, according to sources close to the development.
The names of the JSW Group companies were under discussion and additional funding could not be immediately confirmed. JSW One Home operates the Home Studio, Experience Center, as part of its offline presence.
A JSW Group spokesman declined to comment.
Separately on Monday, JSW One Platforms appointed Gaurav Sachdeva as its CEO. Sachdeva joins the Business-2-Business platform from JSW Ventures, another group company. Prior to joining JSW Ventures in 2015, Sachdeva worked with companies such as Citibank, Bank of America and Infosys.
“JSW One Platforms adds depth to our understanding and connects MSMEs across India. The JSW One platforms have been established to leverage our production and distribution power in the steel, cement and paint business to create a technology-enabled one-stop-solution for the manufacturing and construction departments. I am confident that Sachdeva and his team will build the largest and most unique technology business in India, “said Perth Jindal, Director, JSW One Platforms.
According to Government of India estimates, MSMEs account for 40% of India’s total exports and manufacturing sector contributes 6.11% to GDP.