Why in News?
Recently, the Prime Minister has praised the transformative impact of the Open Network for Digital Commerce (ONDC) on India's e-commerce landscape.
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Open Network for Digital Commerce (ONDC)
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- ONDC – It is an initiative to promote an open e-commerce network that connects shoppers, platforms and retailers.
- Launched in – 2021, by Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
- Vision – To democratise e-commerce in India
- Aim – To create an inclusive e-commerce environment through an open protocol developed on open-source specifications, making it independent of any one platform.
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- Drives growth - It has facilitated over 150 million transactions
- Drives inclusivity – Network now boasts more than 200 participants, including sellers, buyers, and service providers.
- Buyers from more than 1,100 cities and towns have engaged with the network.
- Access to wider customer base - 7 lakh sellers and service providers from over 600 cities and towns.
- Empowered farmers - More than 7,000 farmer producer organizations (FPOs), representing 35 lakh farmers, have been onboarded.
- It aligns with ONDC's goal of bridging the gap between rural and urban markets.
- MSME growth – It has placed a strong emphasis on fostering the growth of small and medium enterprises (SMEs) through initiatives like the MSME TEAM scheme.
Reference
The Tribune| ONDC’s Significant Milestones
Related News Article - Open Network for Digital Commerce (ONDC)
