India has multiple online marketplaces, which cater to different industries. TradeIndia is an online wholesale market, which connects suppliers and buyers from different industries. Founded in 1996 by venture capitalist Bikky Khosla, it’s currently one of the largest e-commerce platforms in the country.
Since it’s pretty expansive, it can be easy to assume that it’s completely safe and legit. However, there have been some issues regarding the platform lately. If you’re considering investing in TradeIndia, you should thoroughly evaluate the platform beforehand.
Here is a complete guide on TradeIndia’s services and their legitimacy:
Although it’s based in New Delhi, India, TradeIndia has offices in 35 cities, employing over 1200 personnel. The platform caters to both domestic and global clientele. However, most of their clients are regional, located in India, Sri Lanka, Nepal, China, and Pakistan.
Bikky Khosla, the founder, still serves as the chairman of the InfoCom Network Limited, which owns the TradeIndia site and trademark. When he began the site in 1996, he targeted mainly local manufacturers, connecting them to international exporters and importers.
Initially, the site was only used for sourcing and business networking. However, in 2009, InfoCom Network Limited added separate portals for Chinese suppliers and news about Indian import-export policies.
As such, the site’s popularity surged, and it became the first B2B portal in India to reach 3M registered users. In 2013, the company ventured into different partnerships for trade promotion, signing a Memorandum of Understanding with the ministry of commerce in Thailand and Korea.
The site participants in multiple international wholesale trade fairs, including the Machinery & Industrial Supplies Fair held by the Korean International Trade Association and Global Sources Organization.
It doesn’t matter what industry you’re from. With over 12,000 listings, TradeIndia’s product catalog is very comprehensive. In its first decade, the product categories and subcategories only targeted industrial buyers. Since then, they have expanded to smaller-scale businesses.
Their wholesale sourcing includes fashion and apparel, festival and home decorations, hygiene and skincare products, automobile and hardware components, electronics, and much more.
However, their main selling category is medical equipment and hospital supplies. If you’re interested in buying things like hospital beds, ENT supplies, and pharmaceutical products, you’ll find excellent options on the site.
The site also provides advertising services for all registered users. If you’re a buyer, the site lets you promote your brand services. If you’re a seller, it boosts your product listings.
Moreover, TradeIndia also has a Trade Alert and Call Me Free Service. The former lets users know when a relevant trade or seller pops up. The latter is meant to allow users easy contact with other users and the site’s customer support.
Is TradeIndia Legit and Safe for Trading?
Now, you’ve learned how the site works and what it’s meant to do. However, you must know whether it follows through with its claims. After all, India is considered a high-risk country for import and export scams. You must always verify your supplier, regardless of your platform.
Many online wholesale markets such as IndiaMART have mixed reviews. This is also true for TradeIndia. Former users have complained about fraudulent and unprofessional behavior from both other users and the site’s management.
As such, it’s unclear whether TradeIndia is legit and safe for trading. If you’re using the platform, here’s what to watch out for:
The site does have some safety measures in place. Its payment protection system allows you to verify your purchase before transferring your money.
However, users have complained that the system isn’t regulated. TradeIndia customer support doesn’t enforce protective measures at times. Buyers are often scammed this way, paying money for unverified products.
Another key issue is the site’s misleading policies and fraudulent activities. Many online reviews on MouthShut and ConsumerComplaints revealed that buyers were lured into buying the site’s advertising services. However, they never received the benefits promised to them.
Buyers ended up losing substantial sums of money. One buyer paid the site nearly $1500 for brand promotion and PR services. Upon asking for a refund, the buyer was blocked.
For a buyer, such incidents are highly dangerous. After all, if you’re a small-scale entrepreneur, losing money can end up tanking your entire business.
Lastly, users have also complained about the customer support personnel. Overall, the customer support system seems to be slow-paced and unresponsive to queries. The site’s representatives don’t reply to messages or calls for weeks at a time.
Even for urgent queries, it takes multiple attempts per day for any customer representative to reply. Buyers in India have expressed that it’s more fruitful to visit the offices in person.
However, even in person or in instances where the calls are received, buyers have complained about rude behavior and dismissive attitudes.
All in all, TradeIndia may not be the safest platform for sourcing wholesale materials. Don’t discount the entire site, though. After all, it does have a database of over 3M users, and not everyone is a scammer. Some sellers and buyers are reliable and reputable.
As such, if you’re thinking of joining TradeIndia, be wary but not biased. Look out for signs of scamming and ensure the safety of your business before committing to a deal with someone.
Moreover, if you can get someone trustworthy to verify the deal in person, it’ll be safer still, and you may not suffer as other users have.