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Tata Sons to Contribute More Capitals for Growth of B2B Digital Unit

CIO Insider Team | Friday, 18 August, 2023
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According to reports, in order to help small and medium-sized businesses expand up their operations, Tata Sons has refocused on its B2B digital growth platform organization, Tata Business Hub, which provides business solutions under the Nexarc brand.

When the company was formed in 2020, there were big hopes for it, but at first, not a lot of people were paying it much attention. However, the Tata Group holding company has noticed a rise in business volumes from SME businesses.

Veteran Tata Consultancy Services executive Venguswamy Ramaswamy, the global leader of TCS Ion, is in charge of the organization and has been successful in significantly scaling the business in this industry.

Other directors of Tata Business Hub include Aarthi Subramanian, Modan Saha and Indroneel Dutt.

The organization first noticed considerable turnover, but as the business grew, additional personnel were employed. There is a tone of room for growth here, and Ramaswamy has managed to build up his business in this field, as per the reports.

According to the Indian Software Product Industry RoundTable, there are more than 60 million small and medium-sized businesses in India, but just a fourth of them have access to the nation's $1 trillion commercial lending banking system

Tata Nexarc provides procurement solutions, reasonably priced, broadly accessible logistics services, and access to business financing for small and medium-sized enterprises (SMEs) to meet working capital needs and specifications for government bids.

Numerous small businesses lack access to capital, advanced technology, and suitable markets to sell their goods. This will serve as a forum for that.

According to the Indian Software Product Industry RoundTable, there are more than 60 million small and medium-sized businesses in India, but just a fourth of them have access to the nation's $1 trillion commercial lending banking system. There is a $250–500 million–dollar gap in lending to SMEs, and many small businesses lack access to finance for expansion.

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