Dun & Bradstreet will help MSMEs get onboarded on to ONDC, expand access to global markets, find potential customers, and identify growth opportunities
Bengaluru: Business consultancy firm Dun & Bradstreet India announced that it is supporting ONDC (open network for digital commerce) to help its network participants along with sellers to increase their visibility, expand access to global markets without going through multiple layers, find potential customers, and identify growth opportunities.
“In India, more than 99% of businesses belong to the micro, small and medium category and 94% of them are unorganized. Dun & Bradstreet surveys have revealed that market access is the biggest challenge to MSMEs scaling up their businesses,” said Avinash Gupta, managing director of Dun & Bradstreet India.
The D-U-N-S® Number is a nine-digit proprietary numbering sequence that is assigned to all types of organizations and is a live business identity throughout its lifecycle. The number will be freely available to network participants along with sellers on the ONDC platform which will help MSMEs to build credibility.
“In order to truly democratize the existing e-commerce ecosystem of the country, empowering the MSMEs holds the ultimate key. Our association with Dun & Bradstreet will enable ONDC-associated participants and sellers to build trust with stakeholders, access financing, and grow their businesses more efficiently,” said Shri T Koshy, chief executive officer of ONDC.
Founded in December 2021, ONDC is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. The platform aims to give small merchants across India access to a decentralized e-commerce network.