ONDC To Break The Monopoly

India is a world leader in creating public digital tool. there is no country in world who has implemented unique digital biometric id for billions of people but India have already done it and we all have our aadhar card.

ONDC India

And if we talk about UPI payment system than I think no country in world has done it, this was the best example for public private partnership which was so successfull that today every small shop of country is accepting the UPI payment it was easy and best.

but do you know Government of India is working to create an another digital revolution in field of ecommerce and they have a big plan for it

and Government of india is planning to increase the coverage on ecommerce for retail market from 15000 to 2 million retail ecommerce store in the next 5 years.

ONDC Ecommerce

what is that big plan which will beat the monopoly of american ecommerce firm amazon and walmart.

and this plan is ONDC which is open network for digital commerce. it was already in the pilot mode for 5 cities of india

So Electronic commerce is a business model that let any firm or individual to buy and sell things over the Internet.’

with the rise of internet in country the ecommerce market is going to grow by $200 billion dollar by 2026 and india will overtake US and become 2nd largest ecommerce market by 2034.

ONDC Explained

if we talk about types of ecommerce then there are 4 type

b2c which is business to consumer companies like amazon n flipkart are doing

b2b which is business to business uddan is doing this

than c2c consumer to consumer platform like ebay and olx is doing it.

peer to peer transfer is also taking place bitcoin technology

for every transaction there is platform for it and the most difficult part is you have to register on each platform.

till now everything was going good, retail store or individual used to register on this website and they get there digital presence so what could be the problem that government is worried why they want to enter in this ecommerce

first problem dynamic pricing big firms has started giving huge dicount on the product which they used to manufacture and they have started charging high comminission on retail store which was registered on there website, this increase the sale of big firms inventory and delcined the retail store sale.

the next thing which they done is in the search result whenever you will search a any product on there website everytime you will product list of there inventory store first.

they have created there monopoly and the retailer store which are not on this platform have seen a drastic drop in there sale.

Government of india has come with a solution of open network for this with open network for digital commerce

ONDC is incoporated as private sector non profit organization on 31st december 2021 under advisory of infosys cofounder Nandan Nilekani.

like UPI is acting as an interface to connect with bank and all the payment application need to use UPI and it is opensource by government.

ONDC will be similar where service provider or seller will be able to make itself visible to all platforms

they don’t have to register for individual application this will significantly give a boost to the MSME sector.

The seller need not worry about who’s going to bring in logistics and warehousing. They only need to make the catalogue digitally

once the digital catalogue will be available and after there store will be visible to the whole world on all platform and it will bring a lot of opportunities

so they want to change Indian digital e-commerce and move it from platform-centric model to an open-network model.

there are 4,000 small and big e-commerce companies in India, 500 logistics companies that eliver goods from the portals to customers, and more than 20,000 companies that that provide services through e-commerce including travel, hotels and food

Open Network for Digital Commerce

ONDC has set high goals to increase the merchandise value of digital transactions from Rs 4.5 trillion annually to over Rs 7.5 trillion in next 5 year after its full implemented.

this was going to be the one of the best if it will gets implemented than it will help to destroy and monopoly and to empower the small retail business.

what do you think about this technology and digital revolution please do comment others thing can be done help retail business to grow

thanks for watching the video do like and share the video so it can reach to maximum people and they will know about new digital revolution this would also help retail store owners.

ondc india

ondc hearing

ondc project

ondc share price

ongc full form

ondc credit card

ondc upsc

ondc data sharing agreement