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Indiaelectricmarket plans to go global
Geeta Nair
Pune : Indiaelectricmarket.com, the portal on the electrical industry, is planning to go global and open up offices in the Middle East and Africa. "These offices will come up before March 31, 2001 and will be a marketing gateway in these regions for the portal," Mr Amit Bhatnagar, MD of the company, said. Indiaelectricmarket.com is also re-organising its portal and introducing new modules including featured auctions - renting out the auction engine to corporates wanting to dispose off unused goods. The strategy of steering clear from the new goods business and focusing on second-hand electrical goods is paying dividends. With transactions worth more than Rs four crore being completed on the site, even big organised market players are jumping on to our bandwagon, says Mr Bhatnagar. Indiaelectric is looking at revenues of Rs 11 crore in the first year of operations. Around Rs 7.5 crore will come from the e-business segment, while info-products will contribute Rs 3.5 crore to the kitty. "As margins ininfoproducts are high we plan to focus on them for raising revenues," Mr Bhatnagar said. Nearly 90 per cent of the community in the electric market place does not access the Net and to reach them some of the online infoproducts are being circulated via hard copies. These copies containing information about business opportunities have notched up a circulation of around 25,000. Another major source of revenue for the company is the online exhibition. Four virtual exhibitions have already been conducted and the site is most probably going to hold the virtual exhibition of Elecrama - the electrical industry's major exhibition held every three years. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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