Nitin is the CEO and Co-founder of IBA Crafts Private Limited located in Noida since 2009. He has earned his MBA in marketing and accounting from Amity University and has previously worked for over five years with leading MNCs like Kotak Wealth and Standard Chartered in HNI Wealth Advisory. He founded IBA to bridge the gap of global trade in the Indian industry for e-commerce platforms. It was also the starting point of the business across the border. Under his leadership, the company has managed to become the largest online seller for Indian ethnic products.
We started in a small 10X10 square feet room with ₹10,000 investment in the company, and today we have over 200 crore of gross merchandise value (GMV) achieved and all this in e-commerce exports business. So that is the amount that we have got into the country from exports. At this stage, we are at a $5 million run rate. With Just in Time (JIT) in our business process already implemented, we have a virtual inventory worth ₹1,000 crore that can be developed within 48 hours after receiving an order. By this, we are foreseeing a 100 crore revenue run rate within 12-18 months. All the profits have been ploughed back into the business so far (ours is not a venture capital-funded company yet), but we plan to raise funds shortly by which we can have first movers advantage with JIT.29 January 2022