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(00:00) Intro
(03:19) Why On-Ground Experience Is Important
(10:19) Partnership in Gujarat & Business
(13:50) Which Business Has Fewer Suppliers
(25:45) Why China Rules Manufacturing & the Supply Chain
(33:21) Which Sectors Are Struggling
(35:24) Graveyard Categories & Mindset
(40:45) Unorganised Business Categories
(49:15) What Changed After the Money Started Coming In
(55:21) IndiaMart vs Alibaba
(1:01:39) Ethics in Marketplaces & Brands
(1:12:33) Is the Market Changing & Population Pyramids
(1:20:37) If He Were 25, Which Business He Would Start
(1:21:55) Closing Thoughts
(1:22:07) Outro

In today’s episode, our guest is Dinesh Agarwal, Founder and CEO, IndiaMART. He shares insights from decades of building IndiaMART with u,s, including why Gujarat has almost double the national average in business partnerships and how sectors like e-rickshaws and mobile accessories quietly became massive opportunities. He explains why picking a niche and understanding 5-year tech cycles is key for anyone entering hardware, software or app-based businesses.

Later, we also discuss why India still isn’t a true supply nation, from infrastructure gaps to relying on imports even for basic components. Dinesh talks about the perseverance needed to scale through platforms like IndiaMART and how India’s diverse consumer base makes it one of the world’s most complex markets.

On a personal note, he reflects on living simply despite success, living in the same home, same car, same shoes for 25 years and how migration and aspirations shape India’s entrepreneurship story, where for many, the first big dream is owning a two-wheeler.

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LinkedIn: https://www.linkedin.com/in/indiamartInstagram: https://www.instagram.com/dineshchetnaX: https://x.com/dineshagarwal

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About Raj Shamani

Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.

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About Figuring Out

Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India.

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