ONDC Key To Boosting Manufacturing Sector's GDP Share: Report

Bengaluru, Sept 2 (KNN) ONDC has the potential to assist the nation in achieving its goal of increasing the manufacturing sector's GDP contribution from 16-17 percent to 25 percent, according to the whitepaper titled 'Commerce@Bharat: Redefining business models and supply chain' by Deloitte.

In the financial services industry, by digitising SME data and expanding banks’ customer experience horizons, the ONDC ecosystem opens new avenues of commerce. 

The report said that with the increasing significance of online sales, the retail ecosystem can use ONDC for streamlined interactions within the supply chain and with end users. 

Regarding the agriculture industry, ONDC has the capacity to transform technology adoption within the agricultural sector by connecting buyers and sellers throughout the network.

 India’s e-commerce sector is projected to reach a value of USD 350 billion by 2030.

ONDC seeks to democratise the e-commerce landscape in the nation. Currently, e-commerce contributes just about 4.3 per cent of the retail commerce sector in India. 

Sathish Gopalaiah, President, of Consulting, Deloitte South Asia said,“ONDC is a remarkable opportunity for India’s economy spanning diverse industries.”

“With a unique proposition built around agility, security and profitability at the same time, ONDC streamlines value chains, bridges gaps, and endorses innovation paving the way for the next generation to explore novel paths,” he added.  (KNN Bureau)