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Wednesday, September 7, 2022

Nandan Nilekani - Future of Digital Commerce with ONDC


Shri Nandan Nilekani addresses the Startup India Innovation Week and talks about India's journey of transformation and the Future of Digital Commerce with the Open Network For Digital Commerce.

ONDC – Transforming Digital Commerce in India

What is ONDC?

 

Open Network for Digital Commerce or ONDC is India’s alternative to the global giants like Walmart and Amazon. It is a government, non-profit initiative that will promote the use of open networks for e-commerce activities. Technically, it is a protocol that will need to be adopted by technology companies that support MSMEs.

It will curb digital monopolies and standardize the onboarding of retailers on digital e-commerce platforms.


Features of ONDC

 

- Non-exclusive, non-rivalrous public infrastructure

- Open network

- Voluntary and flexible adoption

- Equal access


What does ONDC Want to Achieve?

 

Just like UPI changed payment in India, ONDC will transform the e-commerce experience for sellers and consumers.

- ‘Democratize’ digital commerce and move it away from platform-centric models like Walmart, Flipkart, and Amazon.

- Ending monopolies of Amazons and Flipkarts of the e-commerce industry.

- Inclusivity and access for SMEs and MSMEs.

- Empower consumers with more choices.

- Enable more sellers to be on digital platforms.

- Transactions will go through an open network.

- Breakaway from the existing silos by empowering merchants and consumers.

 

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