Abstract: The present disclosure is related to field of data analytics and machine learning, disclosing method and system for determining a potential supplier for a project. Supplier determining system extracts entities and qualifying phrases corresponding to entities from input data using predefined ontology related to domain of the project. Subsequently, the supplier determining system generates data models by annotating each qualifying phrase corresponding to the entities with a label and further, generates weighted knowledge graph corresponding to each data model that correlates suppliers, entities and assessing attributes of the suppliers, wherein weightage may be determined based on each label to indicate degree of correlation. Finally, the supplier determining system may recommend a potential supplier by ranking each supplier based on requirements queried by a user for the project and based on the degree of correlation.