Promoting Small and Medium Enterprises
The ONDC platform for digital commerce launched by the Indian government has crossed 5 lakh sellers, out of which more than 70% are SMEs, as per the statement of the Commerce Ministry. In April 2024, ONDC supported roughly 7. 22 million transactions, which proves that it is becoming more and more significant in the sphere of e-commerce in India.
Encouraging Startup Participation
To encourage more startups to join ONDC, the organization recently hosted the Startup Mahotsav event. Sanjiv, Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), said that more than 125 startups agreed to join ONDC, which underlines the importance of startups in the development of innovation and competition in the network.
MSME Integration Efforts
Currently, the process of connecting MSMEs to ONDC is underway through partnerships with the MSME Ministry and other channels such as the MSME-Mart, a platform owned by the NSIC. MSME-Mart, a B2B portal, helps over 2 lakh MSMEs in improving their market reach.
Support and Future Prospects
In Deloitte India’s whitepaper titled “Commerce@Bharat,” ONDC was described as having the ability to meet the needs of the MSMEs effectively by connecting them with customers and letting them concentrate on creating products. The ONDC Academy was launched in July last year and provides e-learning for participants and certification through NSE Academy Limited.
A report by Redseer Strategy Consultants and Nandan Nilekani estimated that ONDC could reach a GMV of $250-$300 billion by 2030, which is a testimony to the fact that it could have a massive impact on the Indian digital economy.
