IndiaMART has been connecting buyers and sellers for 30 years. It is the marketplace where a garment wholesaler in Pune finds a manufacturer of cotton T-shirts in Tirupur. Where a factory making pumps in Ludhiana gets its first inquiry from a trader in Delhi. It is, in many ways, the plumbing of Indian B2B commerce: unglamorous, essential, and deeply trusted. Along with trust, it is the technology that has kept IndiaMART at the forefront of B2B innovation, till today.
IndiaMART began embedding AI into its core as early as 2018, long before AI became a boardroom buzzword. With behavioral matchmaking, intelligent lead scoring, and smarter buyer-supplier recommendations, AI has been in its DNA since then.
Taking it a notch higher, it is now home to India’s largest agentic AI system in live commerce – IM VANI, as well.
In partnership with SquadStack.ai, IndiaMART is now autonomously conducting over 1 lakh buyer-seller conversations every day. With the entire process conducted by AI, from the first connect to the final handoff, without a human in the loop, the system is running at full production scale. The results: 20% higher conversion vs manual calls, outcome achieved with 95% accuracy. ~15% lower cost per confirmed lead, with a 75%+ AI connectivity rate, compared to 50+% for human agents working the same lead pool.
While the numbers tell a story, IndiaMART’s focus is to ensure quality conversation among buyers, maintain uniformity, and provide better customer experience. The agent reached its pilot stage to a full-scale operation within a span of three months.
The quality and the scale at which it is operating, while understanding the nuances of the complex Indian B2B environment, is what makes it truly amazing. It operates in a not-so-standardized environment, wherein buyers arrive with an unclear brief, can easily change the requirement mid-conversation, or only come with photos of the product. Added to it, the layer of Indic languages, geographies, change in accents, or use of a mix of Hindi and English to define what they are looking for.
From category complexity, language diversity, to 24/7 availability, and taking the context of the users across IndiaMART categories, the AI does it all. Whether it is a buyer with changing intent, unclear briefs, visual-led conversations, non-English speaking, or left mid-off, the system built with SquadStack.ai is designed to provide a quality experience to the customer.
The only cases where a conversation reaches a point of complexity that exceeds the AI’s confidence is when a human agent with full context comes into play, ensuring that the handoff is invisible.
Mr. Amarinder S Dhaliwal, Chief Product Officer, IndiaMART highlighted that, “There is a difference between an AI system that informs a decision and a system that makes one. In partnership with Squadstack, we are building the latter. We have been able to integrate our product stack, telephony, lead routing, and escalation workflows well with SquadStack’s technology. The objective is to move towards an AI-enabled marketplace where every buyer interaction, every channel, every language, is intelligent, contextual, and autonomous by default, and works to deliver a seamless customer experience.”
Mr. Apurv Agarwal, CEO and Co-Founder, SquadStack.ai “What we built together was shaped entirely by what IndiaMART’s buyers actually need. IndiaMART serves buyers across a lakh of product categories, in multiple languages, with every possible variation of intent and context. Meeting that required going feature by feature, use case by use case, real-time product pivoting, Tamil-language conversations, visual intelligence on live calls, memory across buyer journeys, until there were no significant gaps left.
That thoroughness, combined with the speed at which both teams moved, is what produced the outcome: close to 1 lakh autonomous conversations a day, 20% higher conversion vs manual calls, with a 75%+ AI connectivity rate, compared to 50+% for human agents working the same lead pool. And what is now the largest agentic AI deployment in live commerce in India.”
This development is a testament to IndiaMART’s commitment to building a platform that makes doing business easy and ensures MSMEs across India are fueled with the power of digital, one innovation at a time, in partnership with SquadStack.ai.
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