‘Open Network for Digital Commerce’ will democratize e-commerce: Union Minister Piyush Goyal

Union Minister Piyush Goyal laid emphasis on building digital public infrastructure, said it can help in creating the next trillion-dollar companies in India

New Delhi [India], March 19: Union Minister Piyush Goyal on Saturday said that "Open Network for Digital Commerce (ONDC)" would democratize e-commerce and will protect small businesses by granting them equal opportunity.

He was speaking a webinar for the fifth edition of the annual launchpad, "The Entrepreneurs Summit" at BITS Pilani.

He also called upon entrepreneurs to diversify and scale up startups, tap digital infrastructure, innovate and focus on sustainability in the circular economy.

Spelling out agenda for entrepreneurs during the entrepreneurship Summit, the minister stated that India needs 'Agri-preneurs' and 'Tex-preneurs'.

"The entrepreneurs should scale up and diversity in startups as the country needs to promote agri-preneurs and tex-preneurs. The entrepreneurs should innovate in emerging technology and focus on sustainability and circular economy," said Goyal.

The Union Minister also said that entrepreneurship is all about disruption and change. "In India, we are witnessing disruptions across the board — the way we buy goods, access healthcare, and make payments," added Goyal.

The minister also laid emphasis on building digital public infrastructure, said it can help in creating the next trillion-dollar companies in India. Today, many countries in the world are learning from India, he added.

"Our exports from India itself on the IT and the whole related ecosystem will be probably US $ 150 Billion, probably by this year or latest by next year. Our target is to make this a trillion dollar industry," said Goyal during the webinar.

He said, "In the last six years, after the Startup India movement was launched on January 16, 2016, India has made rapid strides and today we are the third-largest startup ecosystem in the world. We are well poised to take on the best in the world."

Goyal also stated that India has done well in the startup ecosystem, saying that India is at the cusp of a massive takeoff. (ANI)