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YK Modi to do the dotcom jig

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CIOL Bureau
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NEW DELHI: The last of the Modi brothers to go the dotcom way will be YK Modi. He will enter this segment with the launch of two portals–indianpurchase.com and indiantradeshow.com. Headed by his daughter, Anupama Modi, the portals will aim at complementing the existing business of the Modis. For the last 23 years, the Modis were catering to niche segments in the industry by publishing a host of trade magazines which facilitate buying and selling of industrial products in segments like construction, power, chemicals, hydraulics, packaging, etc. The company has put a simple strategy in place. It hopes to pull a majority of the existing user base of the magazines to the Net.



Although the two portals address similar target audience, they differ in terms of their contents and revenue models. Indianpurchase will list products free of cost and generate revenues only when a transaction takes place. A listing on indiantradeshow.com will require a subscription fee plus a percentage of transactions that take place online. Clients in the tradeshow portal will be provided with an access password for updating their products and information dynamically. It will serve as a single window for industrial manufacturers to showcase their products and services in an interactive format using various media such as 3-D effects, audio marketing attachments and video clippings. Indiantradeshow.com will give users the comfort and flexibility of visiting an exhibition right from their homes and offices. The virtual tradeshow will be backed by co-hosting physical exhibitions. However, these will not be a routine affair.



Indianpurchase.com will cater to over 300,000 industrial manufacturers and service providers every year, providing them with information on new products and technological developments and technical specifications of products and services. Targeted at the SME segment, the portal is essentially B2B. It will facilitate online contacts between manufacturers and users of various industrial and office automation products. The portal will also provide news bulletins and information about second-hand product requirements.

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