IndiaMART InterMESH Limited has announced the large-scale deployment of IM VANI, an agentic AI system developed in partnership with SquadStack.ai. According to the companies, the platform is now autonomously conducting more than 100,000 buyer-seller interactions each day across IndiaMART’s marketplace.
The deployment marks a significant expansion of AI within IndiaMART’s operations. The company said it has been integrating AI technologies into its marketplace since 2018 through behavioral matchmaking, lead scoring, and buyer-supplier recommendation systems.
With IM VANI, AI now manages the conversation journey from initial contact through qualification and handoff, with human intervention required only in cases where confidence levels fall below operational thresholds.
Reported gains in conversion and lead management
IndiaMART and SquadStack claim the AI system has delivered measurable business outcomes during production deployment.
According to the companies:
- Conversion rates are 20% higher compared with manual calling processes.
- Lead costs are approximately 15% lower per confirmed lead.
- AI connectivity rates exceed 75%.
- Human agents working the same lead pool typically achieve connectivity rates above 50%.
- The system operates with a reported accuracy rate of 95%.
The pilot reportedly progressed from testing to full-scale deployment within three months.
Built for India’s diverse B2B environment
One of the key challenges highlighted by the companies is the nature of India’s B2B marketplace, where buyer requirements are often incomplete or change during conversations.
IndiaMART said buyers frequently begin inquiries with limited product details, switch requirements midway through discussions, or share only product images. The platform must also handle multiple regional languages, varying accents, and mixed Hindi-English communication styles.
The AI system has been developed to address these conditions across a large range of product categories while remaining available around the clock.
The companies said the platform can manage conversations involving changing buyer intent, visual references, multilingual interactions, and interrupted customer journeys.
Executive comments on the deployment
Amarinder S. Dhaliwal, Chief Product Officer at IndiaMART, said the partnership represents a move beyond AI-assisted decision-making.
“There is a difference between an AI system that informs a decision and a system that makes one. In partnership with SquadStack, we are building the latter. We have been able to integrate our product stack, telephony, lead routing, and escalation workflows well with SquadStack’s technology.”
Dhaliwal added that the long-term goal is to create an AI-enabled marketplace where buyer interactions across channels and languages are handled intelligently and autonomously.
Apurv Agarwal, CEO and Co-Founder of SquadStack.ai, said the project was shaped around the varied needs of IndiaMART’s customer base.
“IndiaMART serves buyers across a lakh of product categories, in multiple languages, with every possible variation of intent and context. Meeting that required going feature by feature, use case by use case.”
He added that the result is what the company describes as the largest agentic AI deployment in India’s live commerce sector.
Focus on MSME digitization
IndiaMART said the initiative aligns with its broader effort to simplify business transactions and support micro, small, and medium enterprises (MSMEs) through digital technologies.
The company operates India’s largest online B2B marketplace, connecting buyers and sellers across product categories and regions. SquadStack.ai, meanwhile, provides AI-powered voice sales technology and reports handling more than 4 million AI-driven calls daily for businesses across sectors including financial services, education, commerce, and consumer technology.