In India this month, public access to the country’s most awaited and aspiring Open Network for Digital Commerce (ONDC) has been scheduled to begin in 1 to 2 locations. ONDC will be directly competing with e-commerce giants in the country, such as Amazon India and Flipkart, and is established on the ideas of transparency, increased consumer usefulness, and a decentralized system.
According to the Minister of Commerce and Industry, Piyush Vedprakash Goyal, the strategy and steps taken are meant for the upcoming revolution in technology to come out of the Republic of India since it will provide the country’s six crore convenience stores with a platform to expand their scale and scope using making their products visible and available to distant customers.
Piyush Goyal further stated that the beta testing is now underway and will likely begin in 1 or 2 cities. It will be a version that has been thoroughly tested and capable of handling enormous volumes. They will incorporate the One District One Product (ODOP) initiative through this platform.
The Minister spoke at the US-India Strategic Partnership Forum (USISPF) in the City and County of San Francisco and discussed how small-size retail stores could compete with e-commerce majors. In India, there are roughly six crore small-size retail stores that employ around ten crore individuals. Giant e-commerce platforms use complex algorithms and big data for marketing the goods they choose.
Piyush Goyal made a statement saying that his responsibility as the Minister of Consumer Affairs, Food and Public Distribution is to make sure that consumers have access to complete information about the items that are available, as well as make sure that their choices are not restricted to just what the significant corporations wish to market. This is where the upcoming Open Network for Digital Commerce (ONDC) project becomes operational.
According to the Minister, the ONDC network will be open to all platforms, including small-scale businesses. Independent businesses can develop small and specialized networks. The customer’s options will skyrocket after joining the ONDC platform. If customers decide to purchase a product, they will be able to use this network to find a nearby store that has the particular item in stock and will be able to deliver it right away. ONDC would allow more than 500 small players to become unicorns rather than just 1 or 2 of them growing into Trillion-dollar businesses.