Deloitte India's whitepaper delves into the significance of India's Open Network for Digital Commerce (ONDC) in democratizing e-commerce for MSMEs. Key areas where ONDC can benefit MSMEs include: 1. **Transforming Demand and Supply Networks**: ONDC offers cost-effective and efficient connections for brands, retailers, and MSMEs, allowing them to connect with customers and expand their businesses. 2. **Opening New Markets for Financial Institutions**: ONDC is set to digitize SME data, enabling financial institutions to tailor products and services, particularly in tier two, three cities, and rural areas. 3. **Faster KYC and Sharper Credit Models**: Expedited Know Your Customer (KYC) processes are critical for financial participation. ONDC's ecosystem demands efficient, low-cost KYC procedures. 4. **Boosting Credit Card Adoption**: ONDC-generated data can simplify credit assessments, making it more appealing for financial institutions to engage with the MSME community.