- Knowledge & News Network (KNN)
"SIDBI, ONDC sign deal to increase MSME participation in e-commerce"
Small Industries Development Bank of India (SIDBI) and Open Network for Digital Commerce (ONDC) have partnered to democratise and accelerate the participation of MSMEs in e-commerce.
The country's e-commerce ecosystem and principal financial institution for MSME signed a MoU on Tuesday with an aim to change the landscape of MSMEs by bringing them into the ONDC network, as per the press release. The association between ONDC and SIDBI will establish a programmatic approach for MSMEs where sessions will be held first to educate them about ONDC.
After the introductory session, masterclass sessions on ONDC protocol and MVP definition will be held, followed by incentivised accelerator programs and finishing with participants and their ecosystems going live and being able to transact.