Open Network for Digital Commerce (ONDC) signed a Memorandum of Understanding (MOU) with the Small Industries Development Bank of India (SIDBI) to onboard small and medium-sized businesses on the ONDC network, increasing their participation in the ecommerce sector.
The Memorandum of Understanding was signed by Sivasubramanian Ramann, CMD of SIDBI, and T Koshy, managing director and CEO of ONDC. SIDBI and ONDC will work together to help MSMEs gain access to the open network ecommerce platform proposed by ONDC. ONDC and SIDBI will both hold MSMEs education sessions to educate them on ONDC’s network, protocol, and MVP definition. Following that, the two organisations will run accelerator programmes to incentivize MSMEs and allow them to go live on the ONDC network.