Startup News Magazine

Dun & Bradstreet India supporting ONDC

To foster the growth of MSMEs in India

Mumbai: Dun & Bradstreet India has announced today it is supporting Open Network for Digital Commerce (ONDC) to help its Network Participants along with sellers on the ONDC platform, increase their visibility, expand access to global markets without going through multiple layers, find potential customers, and identify growth opportunities.

The Dun & Bradstreet D-U-N-S® Number will be freely available to Network Participants along with sellers on the ONDC platform. The D-U-N-S® Number will help MSMEs on the ONDC platform to build their credibility and access global markets.

Dun & Bradstreet India will also offer value-added services, including D&B D-U-N-S® RegisteredTM Solutions and D&B ESG Intelligence, at specially discounted prices to Network Participants and Sellers on the ONDC platform.

Promoting, aiding and fostering the growth of MSMEs in India is a priority for Dun & Bradstreet India. Speaking about the partnership, Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet, said, “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. Dun & Bradstreet offers a host of solutions to empower MSMEs and help them scale and improve efficiency.”

Gupta expanded on how the D-U-N-S® Number can benefit MSMEs, “The D-U-N-S® Number is recognized, recommended, and required by over 240 governments, trade, and industry organizations around the globe. There are 2.5 lakh global and domestic customers who leverage the Dun & Bradstreet Data Cloud for decision-making. The D-U-N-S® Number will help MSMEs on the ONDC platform to build credibility, and they will find it easier to get noticed globally, which will level the competitive playing field for them.”

Shri T Koshy, Chief Executive Officer, ONDC, said, “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”.

About Dun & Bradstreet:

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies worldwide to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.

About ONDC

Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India build envisioned to create a facilitative model to revolutionize digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable open networks, there by eliminating the dependency on a single platform

Major ONDC objectives are as follows:

  1. Democratization and decentralization of eCommerce
  2. Inclusivity and access for sellers, especially small and medium enterprises as well as local businesses
  3. Increased choices and independency for consumers