Grasim enters B2B e commerce in building material

Grasim Industries an Aditya Birla group company, today  approved its foray into B2B e commerce in the building materials segment with an investment of ₹2000 crore over the next five years. The investment adds a new high growth engine with clear adjacencies within Grasim's standalone businesses as also that of its subsidiaries and associstie companies. The company is spending  10000 crore in new paints business and will launch its products by early 2024. The group owns India's largest cement company with a capacity of 120 million tons per annum. Kumar Mangalam  Birla, chairman of the  $60 billion revenue Aditya Birla Group, said the B2B e commerce foray is yet another strategic portfolio choice as it crystallizes the groups intend to invest in the new age high growth digital space. The building material segment  presents a shoes scalable business opportunity with a proven path to profitability  with this foray, Grasim would be able to leverage the large B2B ecosystem within the Aditya Birla Group. This move will also catalyse the growth of the MSME universe in India and provide an impetus to the government  vision of digital India