The minister virtually addressed the Entrepreneurship Summit, organized by BITS, Pilani.

Trade and Industry Minister Piyush Goyal said on Saturday that the Open Network for Digital Commerce (ONDC) will help small retailers connect with large companies and serve customers with modern delivery systems.

Through the ONDC, the government is working to democratize e-commerce in the country so that millions of small mom-and-pop stores and small retailers “are not wiped out as we have seen in the West, but have an equal opportunity to participate with using digital technologies” to grow their businesses and serve their customs, he said, addressing the virtual Entrepreneurship Summit hosted by BITS, Pilani.

“What UPI is to the digital payments domain, ONDC is to e-commerce in India. It enables buyers and sellers to be digitally visible and transact over an open network regardless of the platform/application they are using,” he said.

The ONDC was incorporated as a private sector non-profit organization on December 31, 2021. Several established companies have already integrated with the platform. The government has also established a nine-member advisory board, including Nandan Nilekani of Infosys and the CEO of the National Health Authority RS Sharma, to consider measures needed to design and accelerate the implementation of ONDC.

Goyal called for further improving diversity in start-ups as the country needs more entrepreneurs in critical sectors such as agriculture and textiles.

Goyal cited start-ups as the innovation engine for the country and highlighted the fact that India is now the world’s third largest start-up ecosystem. The number of startups that have signed up to the promotion industry and internal trade division has grown from 500 to more than 65,000 in the past five years, including more than 90 unicorns.


This post Open Network for Digital Commerce to Help Small Retailers Adopt Modern Delivery Systems: Piyush Goyal was original published at “https://www.financialexpress.com/industry/ondc-to-help-small-retailers-adopt-modern-delivery-systems-goyal/2465521/”

LEAVE A REPLY

Please enter your comment!
Please enter your name here