(MENAFN- KNN India) New Delhi, May 18 (KNN)
The Open Network for Digital Commerce (ONDC), an e-commerce initiative spearheaded by the Indian government, has achieved a significant milestone.
According to a statement from the Commerce Ministry, the platform now boasts over 500,000 sellers, with 70 per cent being small or medium-sized enterprises (SMEs).
In a bid to further bolster the ecosystem, ONDC recently organised the Start-up Mahotsav, an event aimed at encouraging India's burgeoning start-up community to join the platform.
Sanjiv, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), emphasised the pivotal role start-ups can play in driving innovation, fostering competition, and enhancing consumer choice within the ONDC ecosystem.
The ministry's statement also revealed that in April 2024, ONDC facilitated an impressive 7.22 million transactions, underscoring the platform's growing adoption and significance in the digital commerce landscape.
Recognising the importance of small and medium enterprises, the government has been actively working to onboard MSMEs to the ONDC network.
Som Parkash, Minister of State in the Commerce Ministry, informed Parliament in December 2023 that ONDC is collaborating with the Ministry of Micro, Small, and Medium Enterprises (MSME) to integrate existing seller applications and the MSME-Mart platform, which hosts over 200,000 MSMEs.
MSME-Mart, operated by the National Small Industries Corporation (NSIC) under the MSME ministry, is a business-to-business portal designed to provide market access and digital presence for MSMEs.
Furthermore, a whitepaper titled "Commerce@Bharat" by consulting firm Deloitte India, released in August 2023, highlighted how ONDC can empower the MSME ecosystem by providing suppliers with efficient and cost-effective access to demand and supplier connections.
To ensure a seamless transition for participants, ONDC launched the ONDC Academy in July 2023, offering e-learning series and certification powered by NSE Academy Limited.
(KNN Bureau)
MENAFN18052024000155011030ID1108229456
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.