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Showing posts with the label MSMEs

Digital Commerce Revolution: ONDC, GeM, and the Supporting Ecosystem

India’s Digital Commerce Revolution: ONDC, GeM, and the Supporting Ecosystem India is redefining digital commerce through a transformative ecosystem led by the Open Network for Digital Commerce (ONDC) and Government e-Marketplace (GeM) , bolstered by initiatives like Aadhaar , UPI , DigiLocker , UMANG , BharatNet , Startup India , Jeevan Pramaan , IndiaAI , and the Centre of Excellence in Blockchain Technology . ONDC, launched in 2021, democratizes e-commerce by connecting 370,000 sellers across 588 cities, achieving 14.45 million transactions in November 2024. GeM, operational since 2016, streamlines government procurement, hitting ₹4.09 lakh crore in FY24-25, with 57% from MSMEs. Supporting initiatives provide digital identity, payments, and connectivity, fostering inclusivity and innovation. Major players like Paytm, Magicpin, and Flipkart drive ONDC’s growth, while GeM empowers small businesses. Together, they aim to break monopolies, empower rural markets, and position India as...