Zoho invests Rs 70 cr in ONDC

Chennai: Zoho Corporation announced that it has invested Rs 70 crores in Open Network for Digital Commerce (ONDC) to support the development of sovereign technology in India and promote broader, more equitable participation in the digital economy, the company said in a release."Zoho shares with ONDC its philosophy of building sovereign technology to champion accessibility, flexibility, and inclusion of businesses of every size," said Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and global head of Finance and Operations at Zoho."India's economy depends heavily on MSMEs, yet they face challenges on all fronts, from limited market access to structural constraints imposed by conventional digital platforms that rarely align with their unique needs. ONDC, which is an excellent initiative, gives power back to MSMEs, enabling them to expand their customer reach and achieve sustainable growth," he added.