IndiaMart, a leading online marketplace in India, intends to significantly boost its investment in artificial intelligence (AI) technologies. The company has announced plans to double spending on AI tools every six months with an aim of mitigating false listings and enhancing content checks, according to a top executive.
The e-commerce platform operates as a conduit connecting buyers and sellers across a diverse array of categories, including everything from phone accessories and garden equipment to pharmaceuticals and industrial machinery. Unlike many online marketplaces, IndiaMart does not generally oversee the transactions that take place between its users.
To bolster the authenticity and integrity of its platform, IndiaMart has begun utilising AI technologies to detect potential fraudulent accounts through pattern analysis across seller profiles. In addition, the company has introduced real-time voice-to-text tools to expedite processing of buyer requests, tasks previously carried out by call centre staff. This information was shared by Amarinder S Dhaliwal, Chief Product Officer of IndiaMart.
The issue of counterfeit listings has been a long-standing challenge for the company. In fact, IndiaMart was mentioned in the 2022 ‘Notorious Markets’ list released by the US Trade Representative, which highlighted the issue of counterfeit goods on the platform as a significant concern.
To combat this, IndiaMart is focusing on the development of AI tools. The company is both creating some of these tools internally and also partnering with external AI firms to tackle the issue.
IndiaMart has been judicious in its approach to AI investment, and has not disclosed its specific budget for this. For context, the company’s total expenses for technology and content in fiscal 2026 amounted to approximately 2.26 billion rupees (US$23.94 million).
According to Dhaliwal, content on IndiaMart can be classified into two categories: supplier contamination, which refers to sellers with malicious intent infiltrating the platform, and harmful listings, such as drugs or firearms. He noted that AI tools have been instrumental in improving the filtering of such harmful content.
As of now, IndiaMart facilitates roughly 600 buyer-supplier matches every minute and attracts around 90 million visitors each month. With a current roster of about 220,000 sellers and a buyer conversion rate of nearly 45 per cent, the company is aiming for an ambitious target of hosting 1 million sellers.
How is IndiaMart using AI to enhance its platform?
IndiaMart is investing in AI to detect potential fraudulent accounts and accelerate the processing of buyer requests. It’s also using AI to filter out harmful content and counterfeit listings.
What is the scale of IndiaMart’s operations?
IndiaMart connects about 600 buyers and sellers every minute and attracts around 90 million visitors each month. It currently hosts approximately 220,000 sellers on its platform.
What are the company’s future plans?
IndiaMart intends to double its AI investment every six months to further improve its platform. The company is also aiming to eventually host 1 million sellers.
