Published on: October 27, 2021
OPEN NETWORK FOR DIGITAL COMMERCE
What is in news : The Union Minister of Commerce & Industry reviewed the progress on Open Network for Digital Commerce (ONDC) initiative of DPIIT.
MAHITI FOR PRELIMS
Open Network for Digital Commerce
- Open Network for Digital Commerce christened ONDC is globally first-of-its-kind initiative that aims to democratise Digital Commerce, moving it from a platform-centric model to an open-network.
- As UPI is to the digital payment domain, ONDC is to e-commerce in India.
- Will enable, buyers and sellers to be digitally visible and transact through an open network, no matter what platform/application they use.
- Will empower merchants and consumers by breaking silos to form a single network to drive innovation and scale, transforming all businesses from retail goods, food to mobility.
- Aims at promoting open networks developed on open-sourced methodology, using open specifications and open network protocols independent of any specific platform.
- Is expected to digitize the entire value chain, standardize operations, promote inclusion of suppliers, derive efficiencies in logistics and enhance value for consumers.