ONDC Startup Mahotsav
Context:
The Department for Promotion of Industry and Internal Trade (DPIIT) organized the ONDC Startup Mahotsav in New Delhi.
Relevance:
GS-3, Economy
Details:
- The event marked a significant convergence of two major initiatives by DPIIT – the Startup India initiative and the Open Network for Digital Commerce (ONDC).
- The ONDC Startup Mahotsav is a collaborative effort between ONDC and Startup India, showcasing the synergy between digital commerce and startup innovation. The platform has successfully onboarded over 5 lakh sellers, with more than 70% being small or medium-sized enterprises.
Open Network for Digital Commerce (ONDC):
- It was launched in 2021.
- ONDC is a pioneering protocol aimed at democratizing digital commerce.
- It is now fully operational across India, providing a comprehensive digital infrastructure for businesses and the public.
- ONDC aims to reduce entry barriers to digital commerce, ensuring a level playing field for all e-commerce participants, particularly small-scale businesses and those previously excluded from the digital market.
- This initiative not only supports the growth of startups but also promotes inclusive economic development by integrating a diverse range of sellers into the digital economy.
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