Open Network for Digital Commerce (ONDC): Yet another buzzword or a bridge to inclusive and universal market access?
India has more than 63.39 million micro, small, and medium enterprises (MSMEs), which employ 111 million people and cumulatively contribute 30.27% to the GDP. Yet these MSMEs face two related but significant challenges—access to capital and market. Open Network for Digital Commerce (ONDC) is an initiative to promote open networks for the exchange of goods and services over digital or electronic networks nationwide. Our blog talks about the crucial role ONDC could play to unlock lending opportunities for MSMEs and improve their access to online marketplaces.