UPI for e-commerce 🇮🇳🚀
ONDC went live today in Bengaluru.
Let’s understand how the Government’s Most Ambitious E-Com project will benefit millions of Small Businesses in India. 🧵
ONDC went live today in Bengaluru.
Let’s understand how the Government’s Most Ambitious E-Com project will benefit millions of Small Businesses in India. 🧵
ONDC stands for Open Network for Digital Commerce.
It is essentially a network of various small- and large-scale e-commerce enterprises that intends to end the dominance of platforms like Amazon and Flipkart in India.
It is essentially a network of various small- and large-scale e-commerce enterprises that intends to end the dominance of platforms like Amazon and Flipkart in India.
The Government launched the ONDC in April as an alternative to dominant global giants and to empower India's rapidly growing e-commerce market.
@PiyushGoyal said that It is democratic, cost-effective and empowers buyers and small businesses.
@PiyushGoyal said that It is democratic, cost-effective and empowers buyers and small businesses.
But can ONDC change the e-commerce industry in the same way that UPI did for digital banking in India?
Well, people in Bengaluru can now shop from multiple categories of products and services from a single buyer app of their choice.​​
economictimes.indiatimes.com
Well, people in Bengaluru can now shop from multiple categories of products and services from a single buyer app of their choice.​​
economictimes.indiatimes.com
Currently, Mystore, Paytm, and Spicemoney are live as buyer platforms on ONDC in Bengaluru.
Companies like Flipkart, Reliance Retail, Amazon, Dunzo, Zomato etc are also expected to join the ONDC Network too.
Companies like Flipkart, Reliance Retail, Amazon, Dunzo, Zomato etc are also expected to join the ONDC Network too.
Also, ONDC is already running its pilot (beta with limited buyers and sellers) in 5 cities.
• Bengaluru
• New Delhi
• Coimbatore
• Bhopal
• Shillong.
It aspires to reach around 100 cities by August and open it to a wider public in the current 5 cities.
• Bengaluru
• New Delhi
• Coimbatore
• Bhopal
• Shillong.
It aspires to reach around 100 cities by August and open it to a wider public in the current 5 cities.
This open network will enable any ONDC network-enabled app to discover and engage in local e-commerce across important categories such as grocery, food delivery, hotel booking, travel bookings, etc.
For example, if Amazon and Flipkart both integrate their own platforms with ONDC, a user searching for an iPhone on Amazon will also see results from Flipkart on the Amazon app.
ONDC will also empower our Startup ecosystem with more apps in Indian languages,
the focus would be on small business owners and rural consumers. This will all encourage healthy competition.
@kushgrwl
the focus would be on small business owners and rural consumers. This will all encourage healthy competition.
@kushgrwl
In the next 5 years, ONDC expects to sign up 900 million buyers and target 1.2 million sellers on the shared network, with a GMV of more than $48 billion.
Giant platforms like Amazon and Flipkart will lose their influence over more than 60% of India's e-commerce sector. If ONDC is successful in meeting its purpose,
That’s not it. Some of the largest banks in India are backing ONDC, This may allow the banks to drive the use of their cards, loans, and other services.
In easy words, users will be able to access many sellers on ONDC through any app that is live on the network.
Sellers will handle deliveries through the tie-ups with logistics firms. ONDC will also have services like accounting and payment processors etc. for sellers.
Sellers will handle deliveries through the tie-ups with logistics firms. ONDC will also have services like accounting and payment processors etc. for sellers.
With the launch of ONDC, one more big milestone has been added to the robust public digital infrastructure in India 🇮🇳
It could be a game changer and decentralisation of the e-commerce Industry in India.
RTs Appreciated. Follow @Ravisutanjani for more.
It could be a game changer and decentralisation of the e-commerce Industry in India.
RTs Appreciated. Follow @Ravisutanjani for more.
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