Bengaluru (Karnataka) [India]April 29 (ANI): The pilot phase of Open Network for Digital Commerce (ONDC), a first-of-its-kind initiative globally to pave the way for the democratization of digital commerce to improve digital commerce penetration in the country, was launched here on Friday.
Described as a “breakthrough idea to democratize trade” by Trade and Industry Minister Piyush Goyal, the initiative aims to promote an open platform for all aspects of the exchange of goods and services through electronic networks.
“After UPI, another game-changing idea to democratize commerce: soft launch of ONDC today to select consumers, sellers and logistics providers. Get ready for a world of choice, convenience and of transparency,” Piyush Goyal said in a tweet earlier today.
Sujith Nair, co-founder of ONDC, told ANI that the platform aims to provide fair access to small and medium enterprises to make their goods and services available to a wide range of consumers by line.
“The idea is the decentralization and democratization of commerce in India, where we are looking at small businesses like kirana shops, small restaurants and small and medium vendors to be able to find a way to do business online. Giving them fair access to making their goods and services available to a wide range of consumers is our vision,” he said.
ONDC COO Vibhor Jain presented a live transaction and described the soft launch as a “historic moment”.
“We have teams on the buy side of the network, the sell side of the network and also a logistics team,” he said while explaining the basic structure of the app.
The ONDC seeks to promote open networks for all aspects of the exchange of goods and services over digital or electronic networks. ONDC is based on an open source methodology, using open specifications and open network protocols independent of any specific platform.
ONDC goes beyond the current platform-centric model of digital commerce, where buyer and seller must use the same platform or application to be digitally visible and complete a commerce transaction.
It should make e-commerce more inclusive and accessible to consumers.
Consumers can potentially discover any seller, product or service using any compatible app or platform, increasing consumers’ freedom of choice.
It will allow consumers to match demand with the nearest available supply. It would also give consumers the freedom to choose their favorite local businesses.
ONDC would standardize operations, promote the inclusion of local suppliers, improve logistics efficiency and lead to improved value for consumers.
ONDC was incubated by the Department of Promotion of Industry and Internal Trade (DPIIT) of the Quality Council of India.
It was incorporated as a private, not-for-profit corporation (Section 8). Twenty governments, as well as nationally renowned private organisations, have confirmed investments of Rs 255 crore. (ANI)
This report is generated automatically from the ANI news service. ThePrint declines all responsibility for its content.