Small Industries Development Bank of India (SIDBI) and Open Network for Digital Commerce (ONDC) have signed a Memorandum of Understanding (MOU) to increase the participation of small and medium-sized firms in the e-commerce market.
Sivasubramanian Ramann, the CMD of SIDBI, and T Koshy, the managing director and CEO of ONDC, both signed the Memorandum of Understanding. Together, SIDBI and ONDC will assist MSMEs in gaining access to the open network e-commerce platform that ONDC has proposed. MSMEs will attend sessions held by ONDC and SIDBI to learn about the network, protocol, and MVP definition of ONDC. The two organisations will then administer accelerator programmes to encourage MSMEs and give them access to the ONDC network.