Sajjan Jindal-led JSW Group is planning to scale up its e-commerce venture, JSW One Platforms, and is in talks with various non-competing brands for partnering with the business.
The technology platform has two business divisions – JSW One MSME and JSW One Home (business-to-consumer venture) – and the group has already invested Rs 250 crore in it.
At present, JSW One MSME (a business-to-business tech platform) has presence across southern and western regions and this would be scaled up to cover the entire country by the end of this fiscal. JSW One Home (business-to-customer venture), which currently has presence in some parts of south India, plans to scale up presence in south and western regions during the same period, sources close to the development said.
The names of the companies JSW Group was in talks with and the additional infusion of funds could not be immediately ascertained. JSW One Home operates home studios, experience centres, as part of its offline presence.
When contacted a JSW Group spokesperson 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 had worked with organisations such as Citibank, Bank of America and Infosys.
“JSW One Platforms adds depth to our understanding and connects with MSMEs across India. JSW One Platforms has been established with the vision to leverage our manufacturing and distribution strength in steel, cement and paints businesses to build a technology enabled one-stop-solution for the manufacturing and construction segments. I am confident that Sachdeva and his team will create the largest and most distinct technology business in India,” Parth Jindal, director of JSW One Platforms said.
According to Government of India estimates, MSMEs account for 40% of India’s total exports with the manufacturing sector contributing 6.11% of the GDP.