Open Networks can generate an annual economic impact of up to Rs 67,000 crore in India’s mobility sector, driving inclusive growth and strengthening local economies, according to a whitepaper, released by the government-run Open Network for Digital Commerce (ONDC) on Monday.
The new offering is integrated with 9 buyer applications, also known as Lending Service Providers, and 3 lenders, marking a significant milestone in ONDC Network’s mission to enhance accessibility and efficiency in credit services.
Currently in its alpha phase, this innovative tool allows sellers to generate a unique QR code that customers can scan using an ONDC-registered buyer app.
The joint initiative aims to support Farmer Producer Organisations (FPOs), nano, micro, small, and medium enterprises (NMSMEs), Self Help Groups (SHGs), women entrepreneurs, and start-ups with digital solutions.
The government-run Open Network for Digital Commerce (ONDC) on Monday said that it recorded 374,000 orders in a single day during the T20 World Cup final.
This move marks a significant step in the conglomerate's efforts to diversify into the fast-growing consumer markets of digital payments and e-commerce.
The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Centre's objective of providing growers with better market access.
Khosrowshahi spoke with the Infosys Chairman Nandan Nilekani on the subject of 'Building Population Scale Technology.'
Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala also released a booklet “From Catch to Commerce, Increasing Market Access through Digital Transformation”.
With the aim of providing fishermen with an e-market platform, the Department of Fisheries will sign a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) on February 19.
