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Open Network for Digital commerce
July 25, 2022
In this context, the pioneering initiative of the government the Open Network for Digital Commerce (ONDC) aimed at democratising digital commerce, moving away from a platform-centric approach to building an open network, has the potential to dramatically transform e-commerce in India. It would drive retailers to give up functioning in silos and encourage all providers of products and services to join the network, regardless of the platforms they transact on, thus becoming a conduit for innovation and expansion of the e-commerce base.
The implementation of this network would be similar to that of UPI, which has been a major success. The crux of the new initiative is to bring in transparency and make discovery of information that is being created with open network protocols. It would create a level-playing field for all stakeholders and build an inclusive ecosystem for digital commerce.
According to an e-marketer report of December 2021, India holds the fourth place in Asia-Pacific in terms of retail e-commerce sales, after China, Japan and South Korea.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/