The successful launch of the pilot phase of ONDC (Open Network for Digital Commerce) , a protocol same as the UPI, will spread across more cities. ONDC is a set of standards for voluntary adoption by logistics providers or sellers or payment gateways. It provides the small retailers the freedom to choose any logistics player or seller relying on different parameters like rates and location.
On the ONDC application, consumers can find sellers and products and also allow the consumers the freedom to choose a local business from the nearest available supplier. This will encourage more customers to order online, resulting in improved logistics needs.
The logistics service providers will play a major role for ONDC’s sellers and consumers to get their consignment on time.
Around 20 renowned organizations confirmed investments of Rs 255 crore into the ONDC. Reputed banks: the State Bank of India, UCO Bank, HDFC Bank, ICICI Bank, and Bank of Baroda, have already invested.
Mr. Piyush Goyal, commerce and industry minister said that a lot of consultations & discussions are going on to align the visions of different ministries and ensure that a strong e-commerce ecosystem is developed in India, which is transparent and can provide equal prospects to all the stakeholders.