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ONDC - the game changer
Today, the new age technologies such as #ArtificialIntelligence, Machine Learning, Virtual Reality, and others are already playing an incremental role to pave the way for future-ready, progressive innovations within the new-age commerce and shopping ecosystem. Furthermore, such technological advances are also allowing for optimized product discovery,
#ONDC, a non-profit initiative and platform backed by the Government of India with the aim to democratize new-age commerce, is a commendable endeavour wherein individual local sellers, vendors and small-to-medium- sized retail shop owners or merchants, can register themselves through a public digital infrastructure that will facilitate free flow of goods and services and then buyers can discover them across the nation easily.
The main purpose of ONDC is to create a level playing field for small and medium merchants and traders otherwise dominated by some of the big e-commerce players in India. ONDC will systematically work to integrate small and medium merchants into the digital network - who otherwise are bereft of the benefits of digital commerce and capture the larger market, finding new ways to deliver a smooth shopping experience.
With this there is significant increase in the visibility of the sellers, and allowing them to carry transactions irrespective of what platform they use, ONDC is bound to bring a plethora of opportunities for the local retail industry players in our country.
Business magnets like Amazon, Flipkart, Tata, and Reliance are already dominating the e-commerce market of India. ONDC aims to ‘curb digital monopolies’ by creating new opportunities as well as providing a direction for creating a platform that can be used by all online retailers. ONDC aims to provide equal opportunity for all players without challenging the existing e-commerce companies.
When it comes to the retail sector, ONDC will be working to make improvements across the value chain sBy VARINDIA | 22 views
ONDC - the next UPI
The Centre launched Open Network for Digital Commerce (ONDC) in Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore in a pilot phase in the month of April.
ONDC is a freely accessible government-backed platform that aims to democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods and services. ONDC is planned to be active in 75 locations by August, months after running pilots in seven cities.
The #digitaleconomy has been propelled by a pandemic, which has contributed to the Indian e-commerce sector's current hypergrowth. In order to avoid being infected during the pandemic, people were advised to conduct online transactions. Digital use increased along with the rise of online-only purchasing.
It is an initiative of the government to promote an open platform for all aspects of the exchange of goods and services through electronic networks. ONDC to become the next Unified Payments Interface (UPI), one of India's most successful digital products. Through this platform, consumers can potentially discover any seller, product or service by using any ONDC-compatible application or platform, thus increasing freedom of choice for consumers.
The open network concept extends beyond the retail sector, to any digital commerce domains including wholesale, mobility, food delivery, logistics, travel, urban services, etc. It is an opportunity for the startup entrepreneurs to take the UPI, a system that powers multiple bank accounts into a single mobile application, to the world in a "very big way".
With the usage of ONDC platform, consumers' freedom of choice will increase as a result of the platform's potential for enabling them to find any seller or service by utilising any ONDC-compatible platform or application. ONDC can support business owners engaged in e-commerce, B2B transactions, or direct consumer contact.
For instance, last weeBy VARINDIA | 23 views
It is time to regulate India’s E-Commerce framework with ONDC
India’s Open Network for Digital Commerce (ONDC) aims to bring a sustainable approach for the sale and purchase of goods and services online and the Rules apply to e-commerce entities including Amazon, Flipkart and Reliance Retail. Major e-commerce players in the Indian market are likely to join the Open Network for Digital Commerce (ONDC). The Open Network for Digital Commerce (ONDC), an open e-commerce network, is an initiative of the government to promote an open platform for all aspects of the exchange of goods and services through electronic networks. The ONDC has been initially launched in five cities in India- Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore - on 29 April on a pilot basis to on-board Kirana stores and small and medium businesses. According to the report, ONDC, which still is at a nascent stage, is being pitched as a solution to break the dominance of large e-commerce firms like Walmart-owned Flipkart, Amazon and others in India. In this backdrop, any move by these major e-commerce players to join the network will assume huge significance. E-kart, the logistics arm of Flipkart, has already integrated with ONDC for logistics services while the Flipkart-owned PhonePe is reportedly in the process of joining the network. A report says, Paytm has already joined the network.
ONDC is a decentralised platform that will allow buyers and sellers to connect and transact with each other online irrespective of which ecommerce portal(s) they are listed on. “The bigger ecommerce players have indicated to ONDC that they will support it. Besides tapping into new users, this will also enable platforms with sizable business-to-business verticals to tap into the seller side of ONDC network to supply goods. Dynamic pricing, inventory management and optimisation of delivery cost are the three important things in ONDC which will help reduce the cost of doing business for everybody, including retailers. ONDC aims at fostering open networks developed onBy VARINDIA | 106 views
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अनूठे "रक्षा -सूत्र " से बांधी डोर विश्वास की
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CII Celebrates India@75 - India's IT Journey@75
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Reliance Jio ने ग्राहकों को दिया बड़ा झटका | जियो ने महंगे की रिचार्ज प्लान
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