The Open Network for Digital Commerce (ONDC) on Monday launched business-to-business (B2B) transactions on the government-backed interoperable e-commerce network. ONDC said the move will help traders directly interact with other businesses in wholesale trade.
ONDC said it aims to empower businesses to overcome barriers and embrace the benefits of B2B commerce by promoting seamless connectivity and digital transformation. By leveraging the open network, businesses can expand their reach, forge new partnerships, and tap into previously untapped markets.
Additionally, this transformation will allow businesses to move away from their predominantly offline operations and open up new opportunities for growth and success.
“With the launch of B2B enabled Open Network, we are ushering in a new era of e-commerce where businesses can overcome the challenges that have been holding them back and thrive online,” said T Koshy, MD & CEO..
The first B2B transaction on the network took place on May 21 at the Network Partners (NPs) conference in Bengaluru, where retail tech company SignCatch and B2B trade platform Rapidor made the first B2B gold transaction on the ONDC platform.
Through the integration of their B2B buyer and seller platforms at ONDC,And Create seamless interoperability and enable smooth transactions between buyers and sellers, especially MSMEs.
Incorporated in December 2021, ONDC is a Section 8 company launched by the Department of Industry and Domestic Trade Promotion (DPIIT), Ministry of Commerce. It aims to create a smooth model to revolutionize digital commerce by promoting greater penetration of retail e-commerce in India.