Recently,The Indian government launched an Open Network for Digital Commerce to end the dominance of the US-based e-commerce companies like Amazon and Walmart in India.
Context
Recently,The Indian government launched an Open Network for Digital Commerce to end the dominance of the US-based e-commerce companies like Amazon and Walmart in India.
Key-highlights
- The Indian government is all set to launch an Open Network for Digital Commerce.
- The government wants to end dominance of the US-based e-commerce companies like Amazon and Walmart in India.
- The launch of the ONDC platform comes in the wake of India’s antitrust body raid on domestic sellers of Amazon and some of Walmart’s Flipkart.
About ONDC platform
- With the launch of ONDC, the government aims to promote an open platform for exchange of goods and services through electronic networks.
- The open network platform will be launched in five cities including Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore.
- It would later be expanded to other cities.
- The plan is to cover at least 100 cities and towns by August.
- India's ONDC plan aims to onboard 30 million sellers and 10 million merchants online.
- The government will focus on apps in local languages for buyers and sellers.
- The apps would highlight small merchants and rural consumers.
- The government in a document revealed that the retailers and venture capital firms have lended support to the ONDC plan.
- Banks such as State Bank of India, ICICI Bank and Bank of Baroda have already committed total investments of 2.55 billion rupees.
