Indian Government Invites Retailers to Join Open Network for Digital Commerce

Indian Government Invites Retailers to Join Open Network for Digital Commerce

Indian Commerce and Industry Minister, Piyush Goyal, has invited retailers of all sizes to join the government-promoted Open Network for Digital Commerce (ONDC). This non-profit company aims to create an open platform for all aspects of e-commerce retail, promoting small retailers’ expansion through e-commerce and reducing the dominance of industry giants. ONDC is formulating a set of standards for voluntary adoption by sellers, logistics providers, and payments gateway operators. Each participant will be required to comply with the policy in its entirety at the time of onboarding.

What are the Benefits of ONDC?

Goyal has invited big and small retailers alike to join the ONDC, stating that it will provide huge opportunities for all. This platform will remain agnostic to any influence, ensuring that the grievances of consumers are addressed. The Indian industry ministry and consumer affairs ministry are working together to ensure the platform allows the e-commerce sector to flourish without damaging a large section of stakeholders and small retailers. The system of creating an inter-operable network will allow different platforms to collaborate and create an interface, helping buyers and sellers. Goyal also reassured that ONDC poses no threat to big e-commerce companies; rather, it unlocks and opens the doors of opportunity. He believes that the ONDC will become a transformational e-commerce platform, not just in India but across the world in the years to come.

Goyal also highlighted the success of the public procurement portal GeM, which has saved taxpayers Rs. 40,000 crore. The ONDC will further promote a digital economy and encourage small retailers to participate in new technologies and ways of doing business, ultimately creating a fair and open e-commerce landscape for all.


Articles You May Like

JPMorgan CEO Jamie Dimon Denies Running for Office
Binance CEO Changpeng Zhao’s Offshore Trading Company Receives $11 Billion Via Seychelles-Based Firm
Comedian and Actor Pat Cooper Dies at 93
Former Vice President Mike Pence Enters 2024 Presidential Race

Leave a Reply

Your email address will not be published. Required fields are marked *