The landscape of business-to-business (B2B) commerce in India has undergone a profound transformation over the past decade, evolving from relationship-driven offline networks into sophisticated digital marketplaces that connect millions of buyers with suppliers across thousands of product categories. These platforms have become essential infrastructure for Indian businesses, particularly small and medium enterprises that previously struggled to find reliable suppliers, compare prices efficiently, or reach customers beyond their immediate geographic areas. As we navigate through 2026, understanding the leading business-to-business platforms becomes crucial for any company seeking to grow through digital commerce channels.
1. IndiaMART: The Dominant Market Leader
IndiaMART stands as India’s largest and most established business-to-business marketplace, commanding approximately sixty percent market share and serving as the default destination for millions of businesses seeking suppliers or customers. Founded in 1996 by Dinesh Agarwal and Brijesh Agrawal, IndiaMART has built an impressive network connecting 8.2 million suppliers with nearly 206 million buyers across the country. The platform hosts over seventy-five million products and services spanning more than one hundred thirty thousand categories, making it effectively a comprehensive directory of Indian businesses.
What distinguishes IndiaMART is the breadth of industries it serves, from traditional sectors like textiles, chemicals, and construction materials to modern categories including electronics, information technology equipment, and medical devices. This comprehensive coverage means that whether a buyer needs industrial machinery, office supplies, raw materials, or finished products, IndiaMART likely connects them with multiple potential suppliers. The platform operates primarily as a lead generation and discovery mechanism rather than facilitating transactions directly, with suppliers receiving buyer inquiries that they follow up independently.
IndiaMART’s business model centers on supplier subscriptions rather than transaction commissions. Suppliers can list products for free through basic accounts, but paid memberships offer enhanced visibility through priority placement in search results, detailed analytics showing how buyers interact with their listings, and higher allocation of buyer inquiries. This subscription approach has proven highly successful, with IndiaMART achieving public listing in 2019 and demonstrating consistent profitability. For fiscal year 2025, the company reported strong financial performance with premium subscriptions driving the majority of revenue.
The platform has invested heavily in technology to improve matching between buyers and suppliers, using artificial intelligence to analyze buyer requirements and suggest relevant suppliers based on capability, location, and past performance. IndiaMART’s mobile application has become increasingly important as more users access the platform through smartphones rather than desktop computers. The company has also introduced payment protection plans and other trust-building features to address buyer concerns about transacting with unfamiliar suppliers, though the platform stops short of fully integrated transactions that would make it more like consumer e-commerce marketplaces.
2. TradeIndia: The Established Alternative
TradeIndia represents one of India’s oldest business-to-business platforms, having been established in 1996 by Bikky Khosla during the early days of commercial internet in India. With over five million registered users including approximately four million sellers and buyers, TradeIndia has built a substantial presence particularly in domestic trade while also facilitating some export connections. The platform covers more than twelve thousand product categories spanning industries from agriculture and chemicals to electronics and manufacturing components.
What sets TradeIndia apart is its focus on providing comprehensive digital marketing solutions to small and medium enterprises beyond simple product listings. The platform offers services including catalog design, search engine optimization for supplier websites, and buyer-seller connect programs that actively match businesses based on complementary needs. This value-added approach appeals to smaller manufacturers and traders who lack sophisticated marketing capabilities and need support beyond a basic online presence.
TradeIndia operates both free and paid subscription models, with premium memberships offering significantly better visibility and inquiry volumes. The platform has maintained partnerships with businesses for extended periods, with some suppliers reporting associations of fifteen to twenty years, which speaks to the consistent value the platform delivers. TradeIndia has also developed mobile applications enabling buyers to browse and place orders conveniently, recognizing that mobile access has become the primary mode of internet usage in India.
While TradeIndia generates fewer total inquiries than IndiaMART due to lower overall traffic, some suppliers report that inquiry quality can be higher in certain categories because buyers using TradeIndia often have more specific requirements and serious purchase intent. The platform’s strength lies particularly in serving businesses focused on domestic Indian markets rather than export-oriented companies, though it does facilitate international connections. TradeIndia’s longevity and consistent execution have earned it a loyal user base, particularly among businesses that value the personal support and guidance the platform provides.
3. Udaan: The Mobile-First Wholesale Revolution
Udaan has disrupted traditional business-to-business commerce through its mobile-first platform that directly connects manufacturers, wholesalers, traders, and retailers. Founded in 2016 by former Flipkart executives Sujeet Kumar, Vaibhav Gupta, and Amod Malviya, Udaan represents a fundamentally different approach than directory-based platforms like IndiaMART. Rather than simply connecting buyers and sellers who then transact independently, Udaan facilitates the entire transaction including order placement, payment processing, and logistics coordination.
The company achieved remarkable growth by focusing on categories including fast-moving consumer goods, staples, fruits and vegetables, electronics, lifestyle products, and pharmaceuticals. Udaan particularly resonates with small retailers across India who traditionally sourced products from local wholesalers but now can access wider selection and better prices through the digital platform. The company’s success attracted substantial venture capital, with total funding exceeding 1.95 billion dollars and a valuation of approximately 1.8 billion dollars as of early 2025.
In 2025, Udaan closed a 114 million dollar Series G funding round led by M&G Investments and Lightspeed Venture Partners, demonstrating continued investor confidence despite broader startup funding challenges. The company has focused intensely on improving unit economics and moving toward profitability, with operational metrics showing substantial progress including contribution margin improvements, fixed cost reductions, and EBITDA burn declining by forty percent annually over the past three years. These efficiency gains position Udaan for its planned initial public offering expected in late 2025 or early 2026.
What makes Udaan particularly powerful is its integrated approach addressing multiple friction points in traditional wholesale trade. The platform provides working capital financing through UdaanCapital, solving cash flow challenges that constrain many small retailers. Udaan manages logistics through its own network and partnerships, ensuring reliable delivery that independent wholesalers often struggle to provide. The company also offers inventory management tools that help retailers optimize stock levels and reordering. This comprehensive solution addresses the full spectrum of challenges small retailers face, which explains why Udaan claims dominance over seventy percent of India’s business-to-business e-commerce market by some measures.
4. Moglix: Industrial Procurement Excellence
Moglix has carved out a distinctive position by focusing specifically on industrial procurement and maintenance, repair, and operations supplies rather than competing across all business-to-business categories. Founded in 2015 by Rahul Garg, an IIT Kanpur and ISB alumnus, Moglix serves manufacturers and industrial buyers with a curated catalog of over five hundred thousand products including industrial equipment, safety supplies, electrical components, power tools, and office supplies. This specialization allows Moglix to develop deep expertise in industrial procurement workflows and requirements.
The company achieved unicorn status in May 2021 and raised 250 million dollars in a Series F round in early 2022, reaching a valuation of approximately 2.6 billion dollars. Moglix has expanded operations globally with presence in India, Singapore, the United Kingdom, and the United Arab Emirates. For fiscal year 2025, the company reported operating revenue of 681.5 million dollars, representing fifteen percent growth from the previous year, while successfully halving losses to 11.3 million dollars through improved margins and cost controls.
What distinguishes Moglix is its focus on solving procurement inefficiencies specific to industrial buyers. Large manufacturing companies often manage thousands of suppliers for different components and materials, creating complexity in ordering, quality control, and payment reconciliation. Moglix standardizes this process through verified supplier catalogs, transparent pricing, and integrated procurement workflows that connect with enterprise resource planning systems. For small and medium enterprises, Moglix provides access to industrial supplies at competitive prices that previously required relationships with multiple wholesalers.
Moglix has announced plans to redomicile from Singapore back to India ahead of a planned initial public offering in late 2026 or early 2027, with expectations to raise five hundred to six hundred crore rupees from Indian public markets. This move coincides with similar listing ambitions from peers including InfraMarket, Udaan, and OfBusiness, suggesting that India’s business-to-business e-commerce sector is maturing toward public market validation. Moglix’s path to profitability and its specialized industrial focus make it well-positioned for this next phase of growth.
5. Amazon Business: Global Scale Meets Indian Market
Amazon Business represents the entry of global e-commerce giant Amazon into India’s business-to-business marketplace, leveraging Amazon’s logistics infrastructure, technology platforms, and customer trust to serve business buyers. Launched in India in 2017 after securing foreign direct investment approval in 2015, Amazon Business allows registered businesses to purchase products in bulk with business-only pricing, tax-exempt purchasing options, and multi-user accounts that enable procurement teams to manage spending.
The platform has rapidly gained traction by offering the same convenience and reliability that individual consumers experience on Amazon’s main marketplace, but with features specifically designed for business procurement. These include consolidated invoicing for accounting departments, approval workflows that enforce purchasing policies, and analytics showing spending patterns by category and department. Amazon Business serves categories ranging from office essentials and information technology products to industrial supplies and restaurant equipment.
What makes Amazon Business particularly attractive is the trust factor that Amazon has built over years serving Indian consumers. Businesses that might hesitate to transact with unknown suppliers on other platforms feel comfortable ordering from Amazon due to its established reputation for customer service and problem resolution. The platform’s logistics capabilities ensure reliable delivery even to smaller cities, addressing a major pain point in Indian business-to-business commerce where delivery delays and uncertainties create operational challenges.
Amazon Business has secured major corporate clients seeking to modernize procurement operations and reduce costs through centralized purchasing. Companies like VIDA, a Canadian real estate operation with significant India presence, have used the platform to optimize procurement while scaling operations rapidly. The platform’s integration of international suppliers also gives Indian businesses access to products not available from domestic sources, expanding purchasing options beyond purely domestic platforms.
6. Flipkart Wholesale: Retail-Focused Distribution
Flipkart Wholesale, launched by India’s largest home-grown e-commerce company, focuses specifically on serving small retailers, kirana store owners, and resellers. This specialized positioning distinguishes it from Flipkart’s consumer-facing platform while competing directly with Udaan in the wholesale distribution segment. The platform offers products across categories including grocery, staples, personal care, home care, and general merchandise that small retailers need to stock their shops.
What makes Flipkart Wholesale strategic is its potential to create a two-sided network effect. By serving retailers through Flipkart Wholesale, the company strengthens relationships with the same stores that also deliver products for Flipkart’s consumer business in areas where direct delivery proves challenging. This dual relationship creates switching costs and deeper engagement than either business in isolation. The platform leverages Flipkart’s extensive logistics network and technology infrastructure, providing small retailers with procurement convenience they previously lacked.
Flipkart Wholesale emphasizes affordability and convenience for small retailers operating on thin margins in highly competitive local markets. The platform offers credit facilities that help retailers manage working capital, recognizing that cash flow constraints often prevent small businesses from taking advantage of bulk purchasing discounts. By digitizing the wholesale distribution chain that traditionally involved multiple intermediaries, Flipkart Wholesale reduces costs while improving selection and reliability for retailers.
7. IndustryBuying: Specialized Industrial Focus
IndustryBuying serves as a specialized business-to-business marketplace focused on industrial and commercial products including power tools, material handling equipment, office supplies, and industrial equipment. The platform has built a reputation for serving businesses requiring specialized industrial products that general marketplaces might not stock comprehensively. This category focus allows IndustryBuying to develop expertise in technical specifications and application requirements that industrial buyers need.
The platform emphasizes authentic products from verified brands, addressing buyer concerns about counterfeit or substandard goods that can plague industrial procurement. IndustryBuying has established relationships with leading industrial brands and authorized distributors, ensuring product authenticity while offering competitive pricing through efficient supply chain management. The platform serves both large industrial buyers seeking specific components and small businesses needing basic industrial supplies.
8. ExportersIndia: Facilitating Global Trade
ExportersIndia positions itself specifically to facilitate export trade, connecting Indian manufacturers and exporters with international buyers. This export focus distinguishes it from domestic-focused platforms and makes it particularly valuable for small and medium manufacturers seeking to expand beyond Indian markets. The platform provides visibility to international buyers who might not otherwise discover smaller Indian suppliers.
ExportersIndia offers tools including international trade leads, export documentation support, and connections to freight forwarders and logistics providers that simplify the complexities of cross-border trade. For manufacturers focused on exports, the platform’s specialized services prove more valuable than general business-to-business marketplaces that primarily serve domestic trade. The platform has facilitated exports across diverse categories including textiles, handicrafts, engineering goods, and chemicals.
9. Global Sources: Connecting India to Asia
Global Sources operates as an international business-to-business platform that, while founded in 1970 and headquartered in Hong Kong, maintains significant India presence connecting Indian suppliers with international buyers. The platform’s primary strength lies in its long-established relationships with buyers across Asia, Europe, and North America seeking reliable manufacturing partners. Global Sources emphasizes quality verification and supplier vetting, which builds buyer confidence in sourcing from emerging markets.
The platform combines digital marketplace functionality with physical trade shows and verification services that provide buyers with multiple ways to assess suppliers before committing to large orders. For Indian manufacturers targeting international markets, Global Sources offers credibility and access that purely domestic platforms cannot match. The platform’s expertise in facilitating cross-border trade including documentation, compliance, and logistics proves invaluable for exporters.
10. Pepagora: Emerging Quality-Focused Platform
Pepagora represents a newer entrant in India’s business-to-business marketplace landscape but has gained recognition through its emphasis on quality buyer-supplier matching and supplier enablement. Unlike high-volume platforms where suppliers compete with hundreds of similar listings, Pepagora focuses on category exclusivity and curated supplier selection that improves lead quality and conversion rates. This quality-over-quantity approach resonates with suppliers frustrated by low-quality inquiries on larger platforms.
The platform emphasizes research-based formulations and verification processes that ensure suppliers meet standards before being featured. For buyers, this curation reduces the time spent evaluating suppliers and increases confidence that featured businesses can deliver as promised. Pepagora’s model represents an alternative approach to the volume-driven strategies of established platforms, potentially appealing to premium segments willing to pay more for reliability.
The Evolving Business-to-Business Platform Landscape
The Indian business-to-business platform ecosystem in 2026 demonstrates remarkable diversity, with different platforms serving different needs rather than a winner-take-all market structure. Directory-style platforms like IndiaMART and TradeIndia continue thriving by connecting buyers and sellers who then transact independently. Transaction-focused platforms like Udaan and Amazon Business provide integrated commerce experiences including payment and logistics. Specialized platforms like Moglix and IndustryBuying serve specific industry segments with deeper expertise than generalist marketplaces.
Several trends will shape these platforms’ evolution through the remainder of the decade. Artificial intelligence will enable more sophisticated matching between buyers and sellers based on capability, location, past performance, and complementary needs. Working capital financing will become increasingly integrated as platforms recognize that cash flow constraints limit transaction volumes for small businesses. Logistics and delivery capabilities will differentiate platforms as buyers expect the same reliability in business-to-business commerce that they experience as consumers. And international expansion will accelerate as successful Indian platforms leverage their expertise in complex, fragmented markets to serve other emerging economies.
The platforms that succeed long-term will be those that continuously reduce friction in business-to-business transactions while building trust that enables parties who have never met to confidently transact. For Indian businesses navigating this landscape, the proliferation of capable platforms creates wonderful opportunities to expand markets, find better suppliers, and grow through digital channels that were simply unavailable a decade ago. Understanding the strengths and positioning of each platform enables businesses to choose partners aligned with their specific needs and growth aspirations.
