India, Nov. 7 -- According to estimates, the online B2B market is set to become six times than B2C e-commerce. Given that there are about 42.5 million micro, small, and medium enterprises (MSMEs) in India which have 95% of the industrial units and employ 40% of the country's workforce, it is safe to say that MSMEs will be the driving force that facilitates this rise. MSMEs are crucial for India's economic development given their tremendous contributions to domestic production and export earnings and their comparatively low investment requirements. The need of the hour, then, is to give impetus to online networking platforms catering exclusively to MSMEs that allow a B2B exchange of goods.

Tapping into this burgeoning industry, ICICI Bank...