Union Minister Piyush Goyal has virtually kicked off a three-day Grand Hackathon that the Open Network for Digital Commerce (ONDC) is hosting in association with NABARD. The physical portion of this event took place at the Fort, Mumbai location of the Bombay Stock Exchange. The Grand Hackathon is divided into two categories: the Agri Grant Challenge and the Agri Innovation Hackathon, both of which will highlight innovations that will help the agriculture sector adopt eCommerce.
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KEY POINTS:
- Speaking at the event, Shri Goyal stated that the newly created ONDC-NABARD Grand Hackathon will give start-ups a platform to collaborate with ONDC and develop creative solutions for some of the most urgent problems in the agri-sector.
- Even though it might seem like a tiny move right now, in the long run, this will give farmers all throughout the nation more influence. Early signs suggest that this will likely affect not only the way e-commerce operates in India but maybe the entire world.
- According to the Minister, this Government has made tripling the income of farmers and ensuring their welfare a primary priority.
- According to Piyush Goyal, we should expect quicker economic growth the more we help our farmers access farm inputs and connect with markets utilising technology and innovation.
- Notably, ONDC is a Government of India effort with the goal of democratising the nation’s current e-commerce environment by creating an open network for buyers and sellers.
- According to Shri Goyal, it is also essential for democratising the agri-value chain and assuring the digital revolution of the agricultural industry. The entire farm value chain, including FPOs, mandis, processors, exporters, MSMEs, and small retailers, will be onboarded by ONDC with the active support of NABARD.
Important Takeaways For All Competitive Exams:
- Minister of Textiles, Minister of Commerce and Industry and Minister of Consumer Affairs, Food and Public Distribution: Shri Piyush Goyal
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