Government ONDC CEO T Koshy says skilled entrepreneurs are important for e-commerce penetration in India

New Delhi, June 10: Skilled entrepreneurs are important to increase e-commerce penetration in India, T Koshy, MD and CEO of the government-led Open Network for Digital Commerce (ONDC) said on Monday.

Talking to IANS, Koshy said e-commerce penetration in the digital space is “only six or 7 per cent on the buy side and maybe 1-2 per cent on the sell side.” The government’s ONDC recognizes the diversity of small business participation across India, says CEO T Koshy.

He said there is a large cross-section of people who are potential participants on the supply side. In addition to providing them with a technology center, they must also be equipped with a wide range of business processes, including tools to create appropriate documentation and barcodes, to ensure they can operate their business across the country.

Apart from making their job attractive and safe, “they also have to comply with tax regulations, GST etc.” while conducting business throughout the country. “All these different elements of successful deals will be key for them to leverage to expand market access,” Koshy said.

To aid in skills acquisition, ONDC launched the ONDC Academy last year to enable individuals to make informed decisions, minimize operational setbacks and maximize efficiency, while facilitating open network e-commerce through the academy. Koshy said the e-learning series is available in seven or eight Indian languages. The platform is also working on audio-video material. The government-run ONDC recorded a record 8.9 million transactions in May across the retail and passenger transportation segments.

He noted that the network is also reaching out to each ministry “to provide capacity building and hand-in-hand support.” Koshy said the National Council for Vocational Education and Training (NCVET) under the Ministry of Skill Development and Entrepreneurship (MSDE) and the UGC also “treat it as part of skill development”.

(The above story first appeared on LatestLY on Jun 11, 2024 09:44 EST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly. com).