New Delhi, Sep 30 (IANS): cloudBuy, an e-procurement firm specialising in spend analysis and company formation, on Wednesday launched its global e-commerce solutions for Indian businesses to help them in their growth.

"e-commerce platform will enable Indian businesses to promote their products and services, expand their boundaries and trade online globally," said Nilesh Gopali, country head of cloudBuy.

The company has been making strong inroads into the Indian market, including a tie-up with Confederation of Indian Industry (CII), to launch a new online gateway for its members.

"cloudBuy is providing a secure, transactional B2B platform for the CII to support its 8000 members to grow business in India and globally," the company said in a release.

The company said the UK Trade and Investment (UKTI) has been supporting in promoting the brand in relevant forums and summits. Also, UK-India Business Council (UKIBC) is providing an interconnect between the British and Indian companies to facilitate trade, it said.

Speaking about the potential for growth in this segment, cloudBuy's global solutions director Hemant Bhange said: "India's market size for indirect material is huge. Though b2b ecommerce in India is at a nascent stage, the Indian government is actively encouraging state-owned and private companies to adopt online procurement solutions, as they have the potential to speed economic growth and enhance productivity."