India on Friday launched the pilot part of open community for digital commerce (ONDC), a UPI-type protocol, in 5 cities with an goal to democratise quick rising e-commerce sector, assist small retailers and scale back dominance of on-line retail giants.
”After UPI, one other sport altering thought to democratise commerce – ONDC comfortable launch at present to pick out customers, sellers and logistics suppliers. Prepare for a world of alternative, comfort and transparency,” Commerce and Trade Minister Piyush Goyal mentioned in a tweet.
The initiative can be aimed toward curbing the dominance of two massive multinational e-commerce gamers, which management greater than half of the nation’s e-commerce buying and selling, restrict entry to the market, and provides preferential remedy to sure sellers and squeeze provider margins.
Giving particulars, Further Secretary within the Division For Promotion of Trade and Inner Commerce (DPIIT) Anil Agrawal, mentioned that the ONDC is a set of requirements for voluntary adoption by sellers or logistics suppliers or fee gateways.
As many as 80 corporations are presently working with the ONDC and they’re at totally different phases of integration. These firms are making their apps for sellers or consumers or logistics or fee gateways.
On the pilot part, the goal is to onboard 150 retailers in 5 cities – Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore.
”With this pilot part, we wish to be taught as to how this rolls out in the true life setting the place you really make funds, do the deliveries, cancel orders and the way refund works,” Agrawal mentioned including ”as soon as these classes are recognized, we’d create a playbook, which might be a set of requirements”.
Within the pilot part, the ONDC has roped in eSamudaay, ERP Participant Gofrugal, digital advertising and marketing outfit Progress Falcon, and automation and knowledge insights outfit Sellerapp to work with sellers. Going ahead the goal of the ONDC is to onboard 3 crore sellers and one crore retail retailers on-line. ”Within the subsequent step, we wish to go to 100 cities in six months,” he added.
It will give attention to apps in regional languages for each consumers and sellers to faucet small retailers and rural customers.
As many as 20 organisations of nationwide reputation have confirmed investments of Rs 255 crore into the ONDC. Lenders such because the State Financial institution of India, UCO Financial institution, HDFC Financial institution, ICICI Financial institution and Financial institution of Baroda have already dedicated investments.