It’s happening! The world order is going to change and we all will be a part of it!
This is the next big revolution after UPI
Let’s see how Indian govt is planning to end the dominance of few global giants and trying to democratize a $1 trillion retail industry 🧵
This is the next big revolution after UPI
Let’s see how Indian govt is planning to end the dominance of few global giants and trying to democratize a $1 trillion retail industry 🧵
After the huge success of Aadhaar and UPI.
Govt is ready to kickstart one more digital revolution and this time they are competing with giants like Amazon and Walmart!
( Jeff we are coming for you) 😛
Govt is ready to kickstart one more digital revolution and this time they are competing with giants like Amazon and Walmart!
( Jeff we are coming for you) 😛
Guys and girls presenting you @ONDC_Official i.e The Open Network for Digital Commerce. It is a govt backed platform which will allow you to buy any kind of goods and services ranging from your local Kirana store to the big showrooms.
Ofcourse It’s not easy to build a network + the technology like Amazon but when you have people like Nandan Nilekani on the helm , things tend to smoothen out.
Nandan Nilekani who has co founded Infosys has already helped the govt in building Aadhaar for 1.4 billion people of India. Who’s better than him to repair the fractured retail market and bring them onto one platform! 💪
Let’s understand in little detail about the functioning of ONDC,
“ONDC is an idea whose time has come” said Nandan
Nilekani in his keynote speech at startup
India innovation week. The platform will replicate a UPI like model.
“ONDC is an idea whose time has come” said Nandan
Nilekani in his keynote speech at startup
India innovation week. The platform will replicate a UPI like model.
Just like how UPI managed to bring all the major banks under one umbrella , ONDC is also aiming to bring small shopkeepers who have been neglected by Amazon and Flipkart since beginning.
These big e-commerce giants are trying to kill these small shops systematically with 'out of the world discounts'.
“We owe it to the millions of small sellers to show an easy way to participate in the new high-growth area of digital commerce.” Said Mr. @NandanNilekani
“We owe it to the millions of small sellers to show an easy way to participate in the new high-growth area of digital commerce.” Said Mr. @NandanNilekani
The big highlight about this whole system is that ONDC is a private not for profit organization.
It means they will derive it’s revenue from a small group of donors and not to worry As many as 20 organizations have confirmed investments of ₹255 crore into the ONDC.
It means they will derive it’s revenue from a small group of donors and not to worry As many as 20 organizations have confirmed investments of ₹255 crore into the ONDC.
Lenders such as the State Bank of India, UCO Bank, HDFC Bank, ICICI Bank and Bank of Baroda have already committed investments.
Why are these banks putting their money in this risky venture? 🤔
Why are these banks putting their money in this risky venture? 🤔
Amazon just posted their loss figures and investors have lost a fortune but still these banks have decided to put some money in e-commerce business.
Take your time and think why they are doing it!!
Take your time and think why they are doing it!!
As the details about this investment is not yet public so we can also just guess and here’s our take to it:
This platform will become home to lacs of small business owners, these banks can now provide them lucrative loan offers + many other banking services needed by MSMEs
This platform will become home to lacs of small business owners, these banks can now provide them lucrative loan offers + many other banking services needed by MSMEs
“Read between the lines that’s where the real deal is happening”
ONDC is not focused on making profits but to bring an ecommerce revolution in the remote villages of India. Although they have many challenges such as
1) Inventory management and
2) cost of delivery in far off areas.
1) Inventory management and
2) cost of delivery in far off areas.
It will be interesting to see how dynamically they can price their products to compete with our homegrown startups such as Meesho , Blinkit , Jio store etc
Govt is experienced in building platforms that can work at scale , they have proved this earlier with Co-win , Aadhaar , UPI and Fastag.
what they have not yet focused is on the after sales services also known as Customer care.
what they have not yet focused is on the after sales services also known as Customer care.
Almost all the big companies perform poorly in this area. People sometimes have to wait for days to get their refunds back , there are issues such as wrong shipments and slow delivery time.
All in all this is a very interesting space to look for and if done correctly it can give big companies run for their money!
As PM Modi’s goal is to transform Local into global this platform is a perfect place to promote Bharat 🇮🇳
As PM Modi’s goal is to transform Local into global this platform is a perfect place to promote Bharat 🇮🇳
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