The amount will be spent to build a strong infrastructure base - technical infrastructure and execution of operations, besides increasing product range, establishing a world-class call centre and enhanced marketing and advertising to promote and build the brand.

IndiaPlaza.com president and CEO Vijay Shah told The Financial Express that the company, which currently makes over 50,000 Indian products available to its global clientele, plans to double the products range by March 2000.

The company which makes the products available through its websiteindiaplaza.com - will also facilitate the availability of imported goods to the Indian customer. The target audience will remain largely clients wanting ethnic Indian goods worldwide, said Shah. "The company intends to continue to open out Net-based electronic commerce business to the Indian sub-continent by recruiting and staffing technical and operations talent in India," said Shah. He said the funds will be sourced through a mixture of "angel investments, venture capital and public offering within the next 18 months".

The company was set up over two years back and started its Indian operations in June last year. It has set up two offices in India - in Mumbai for operations and product procurement and in Bangalore for technical support.

The company expects to close the current financial year with a global sales revenue of about $1 million (Rs 4.5 crore). The company has a profit margin of between 20 to 25 per cent, said Shah. The company's CTO and eCommerce strategist Davinder Luthra said the Indian customers can shop through the website and have a choice of payment either through credit cards or cash on delivery. The company has also tied up with Airborne Express to collect money from customers on their behalf. The company intends to introduce theme-based shopping in the next few months, said Luthra.