Startups should think of credit solution for small businesses: Vaishnaw

Vaishnaw urged consumer tech companies to leverage Open Network for Digital Commerce (ONDC), India's alternative in its e-commerce market

Startups should come up with a solution to provide small businesses credit quickly and with little paperwork, said union minister Ashwini Vaishnaw on Tuesday.

Vaishnaw, who handles the ministry of electronics and information technology (MeitY), said startups should leverage the “humongous” scale of state-owned organisations like the Indian Railways and India Post to expand their business. “Many countries, even if they try to reach out to their entire populations, would struggle to get that kind of scale,” he said in Ahmedabad on the second day of the Digital India Week.

Prime Minister Narendra Modi on Monday launched the Digital India