Budget 2024: ONDC and more on e-commerce's cart for Nirmala Sitharaman
Budget 2024: As Finance Minister presents Union Budget on July 23 that will set the roadmap for the next five years of Prime Minister's third term, the e-commcerce sector hopes for a push towards Open Network for Digital Commerce (ONDC) and amendment of overall policy.
Read More: Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23
«My expectation from the Government of India is to promote ONDC further because ONDC is in a way becoming an e-commerce platform for the small traders of our country, so we should talk about the creation and amendment of the overall e-commerce policy and about the enhancement of platforms like ONDC which have been created by the Government of India...» said Vijay Shekhar Sharma, Founder of Paytm.
The demand for platform was echoed by the MSMEs as well. Earlier, the micro, small and medium enterprises ministry has proposed the Trade Enablement & Marketing (TEAM) scheme, with an outlay of Rs 277 crore, to expand MSEs' business beyond the bricks-and-mortar model through ONDC, India's mega network, which seeks to enable buyers and sellers to transact through a single platform, reported ET in June. Read More: Budget 2024: Top three moves that NDA govt must consider for employment generation
The platform, which was set up with an aim to democratise the country's ecommerce ecosystem, is on course to touch the 10-million transaction mark in June, a senior official said on Thursday. The open network has been adding one million transactions on a
