Publication - The Hindu Business Line
Edition - Online
Open Network for Digital Commerce (ONDC) has forayed in the international B2B exports with Proxtera coming in as its first international buyer app. Proxtera is the operationalisation of the Business sans Borders (BsB) initiative led by the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA). It will connect B2B platforms and SMEs to explore trade opportunities, secure essential financing, and embrace digital transformation through the ONDC network. “With the ONDC network enabling B2B exports, Indian businesses will benefit from increased product visibility and access to newer markets digitally. Businesses can eventually expect a seamless experience of being discovered, negotiating the best deal, exchanging relevant documents, completing cross-border payments and managing shipments, all facilitated within a fully digital framework,” the official statement added.
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