The Rs 5,000 crore Larsen & Toubro group has decided to adopt e-commerce for all its business-to-business transactions. A task force for the purpose was set up early this week.
The group will utilise the expertise of its IT subsidiary, L&T Information Technology Ltd (LTITL). The latter will, in turn, get the benefit of tapping L&T's global client base to build up new relations.
An LTITL team will work closely with the L&T task force, Achyut S Godbole, the LTITL chief executive, said.
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Once the model is put in place, L&T will adopt e-commerce for financial transactions with its stockists and dealers.
"L&T will have the option of hiring anyone to put in place its e-commerce solutions, but we will strive to provide them the best solutions. In that sense, there is a complete arms length relationship but we would be providing them with all assistance in the initial stages," Godbole said.
"We will also tap L&T's global clients in order to expand our client base. We will leverage the strengths of the group, which in turn has made it clear that it accords immense importance to the IT business," he added.
Godbole said the IT subsidiary was looking at acquiring a company each in the US and UK.
"At the same time, we are also looking for joint ventures. We would be looking at acquiring companies, which enable us to get into vertical segments like healthcare or a retail company," he said.
"We hope to extend our reach through alliances and acquisitions and some of these should be put in place in another six months," the LTITL chief executive said.
Godbole ruled out any immediate international listing.