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A top industry official has said that e-commerce transactions in the country are expected to hit $100 billion next year, as companies increase their use of Internet to cut down costs, and improve speed and efficiency.

Bikky Khosla, chief executive officer of Tradeindia, a B2B portal, was quoted saying that with e-commerce transactions currently growing at the rate of thirty to forty percent, they're expected to cross the $100 billion mark in 2008.

Khosla explained that with the advent of Internet, far-flung global markets have shrunk to form one seamless market. That B2B portals have generally succeeded in breaking geographical and other conventional barriers involved in trading. They've succeeded in cutting down on time and costs involved in businesses such as export-import, etc.

Khosla expressed the view that B2B portals are a must for enterprises of all types and sizes today. The advantages of having the assistance of a quality B2B portal are many.

Meanwhile, some of the leading portals in the B2B space include: Tradeindia, Indiamart.com, Tradeget.com, and Indianexporters.com.

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