Zoho's Strategic Investment Boosts Digital Commerce in India

Zoho Corporation, a global technology company, has pledged an investment of Rs 70 crore into the Open Network for Digital Commerce (ONDC) on Wednesday. This move aims to bolster the development of sovereign technology within the country, focusing particularly on supporting Micro, Small, and Medium Enterprises (MSMEs) by making digital commerce more accessible and inclusive.

Headquartered in Chennai, Zoho already provides digitization solutions for MSMEs through various applications like the Vikra seller app on the ONDC network, along with Zoho ERP, Zoho Books, Zoho Inventory, and Zoho Commerce. The new investment will further expand the network's ecosystem, allowing more businesses to participate in the digital economy while overcoming the constraints imposed by traditional digital platforms.

Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and Global Head of Finance and Operations BU at Zoho, emphasized the critical role MSMEs play in India's economy and the challenges they face. 'Zoho shares with ONDC its philosophy of building sovereign technology to champion accessibility, flexibility, and inclusion for businesses of all sizes,' he remarked.

(With inputs from agencies.)