ONDC launches B2B ecommerce network
ONDC said the transition will allow businesses to move away from their predominantly offline operations and open new opportunities for growth and success.
Open Network for Digital Commerce (ONDC) on Monday launched business-to-business (B2B) transactions on the government-backed interoperable ecommerce network. ONDC said the move will enable merchants to engage directly with other businesses in wholesale trade.
By fostering seamless connectivity and digital transformation, ONDC said it aims to empower businesses to overcome the hurdles and embrace the advantages of B2B commerce. By leveraging the open network, businesses can expand their reach, forge new partnerships, and tap into previously untapped markets, it stated.
Further, this transition will allow businesses to move away from their predominantly offline operations and open new opportunities for growth and success.
"With the launch of the B2B-enabled open network, we are ushering in a new era of ecommerce where businesses can thrive online, overcoming the challenges that have held them back," said T Koshy, MD & CEO of .
The first B2B transaction on the network took place on May 21 at a gathering of network participants (NPs) in Bengaluru, where retail tech company SignCatch and B2B trade platform Rapidor executed the first-ever B2B golden transaction on the ONDC platform.
Through the integration of their respective B2B buyer and seller platforms on the ONDC, and aim to create seamless interoperability, enabling smooth transactions between buyers and sellers, especially MSMEs.
Incorporated on December 2021, ONDC is a Section 8 company initiated by the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce. It aims to create a facilitative model to revolutionise digital commerce, promoting greater penetration of retail ecommerce in India.
Edited by Megha Reddy