Business

Agreement signed by cloudBuy to develop global trading platform for Confederation of Indian Industry

Platform to support 7 000+ CII members globally and within India.

London | Business Wire via ITWeb, 05 Dec 2014
Read time 1min 30sec

The cloud e-commerce marketplace, cloudBuy, is delighted to announce it has signed an agreement with the Confederation of Indian Industry (CII) to develop a global trading platform.

The platform will support the trading activities of the 7 000+ CII members globally and within India. The CII members are predominately large manufacturers and this new platform will allow them to utilise cloudBuy's B2B e-commerce and provide a global platform to facilitate their trading.

The new service will be rolled out through the CII's 60+ branches, which will provide support and onboarding services to its members. The service will be chargeable to members and will include Web site and transactional revenues.

Sujith Haridas, Deputy Director General of CII, commented: "This is a very exciting initiative for us and our members. India is one of the world's fastest-growing economies and manufacturing is a key component of this. The new platform will accelerate this growth."

Ronald Duncan, chairman of cloudBuy, commented: "The CII is one of the most respected bodies in Indian business and I'm delighted that it has chosen cloudBuy as its platform for this important initiative.

"Manufacturing and its supply chain is a major part of the rapidly-growing $2-trillion Indian economy and, based on our agreements to date, we expect India to make a significant contribution to our future revenues as we support the Make in India campaign."

For further information on cloudBuy, please visit www.cloudbuy.com. For further information on the Confederation of Indian Industry, please visit www.cii.in.

cloudBuy

cloudBuy, formerly @UK, is the world's leading transactional cloud platform with over one million users. The platform supports B2B e-commerce and e-procurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading.

View this news release online at:
http://www.businesswire.com/news/home/20141205005213/en.

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