In the ever-evolving landscape of Indian e-commerce, the Open Network for Digital Commerce (ONDC) is making waves. As a non-profit initiative, it has set out to revolutionize the way we perceive and engage with online shopping.
Transaction Targets of ONDC
Ambitious Goals: ONDC aims to elevate e-commerce penetration to 25% of India’s consumer purchases within two years.
Expansive Reach: Targeting an impressive 900 million buyers and 1.2 million sellers on the shared network in the next five years.
Financial Ambition: Aspires to achieve a gross merchandise value of $48 billion, signifying a significant economic impact.
How ONDC will Foster Competition and Innovation?
ONDC promotes healthy competition and innovation by dismantling siloed operations. It encourages collaboration with logistics firms to revolutionize and streamline product delivery. ONDC focuses on small merchants and rural consumers, actively promoting apps in Indian languages for wider accessibility.
Addressing Preferential Treatment
Transparent Practices: ONDC seeks to eliminate preferential treatment for selected sellers.
User Empowerment: Users can rate service providers, fostering transparency and accountability in the e-commerce ecosystem.
A Key Objective of ONDC is to end predatory pricing
- Curbing Exploitative Practices: ONDC targets predatory pricing, especially in high-margin, high-value products.
- User Oversight: User ratings on ONDC provide a clear and transparent overview of service quality, empowering consumers.
Challenges For ONDC
A widespread awareness campaign is imperative to onboard millions of small businesses onto the ONDC platform. Smaller businesses may face challenges in matching the discount offerings of industry giants like Amazon and Flipkart.
As ONDC unfolds its transformative journey, it not only envisions a more equitable e-commerce landscape but actively works towards realizing this vision, one transaction at a time.