The Open Community for Digital Commerce (ONDC), an e-commerce firm arrange by the federal government, might be opened to the general public in Bengaluru from Friday. The net platform is an initiative by the commerce ministry to assist small retailers and cut back the dominance of e-commerce giants
Commerce and trade minister Piyush Goyal in a tweet mentioned that Bengaluru customers will get an entire new purchasing expertise. “Beta testing of the Govt’s revolutionary Open Community For Digital Commerce to start from tomorrow. It’s democratic, cost-effective, and empowers consumers and small companies,” he mentioned.
In April, the ministry launched the pilot section of the open community for digital commerce in 5 cities – Delhi, Bengaluru, Bhopal, Shillong and Coimbatore.
As many as 20 organisations have confirmed investments of Rs 255 crore into the platform, in keeping with PTI. Lenders resembling SBI, UCO Financial institution, HDFC Financial institution, ICICI Financial institution, and Financial institution of Baroda have already dedicated investments.
With ONDC, the federal government goals to curb the dominance of two massive multinational e-commerce gamers – Amazon and Flipkart. They collectively management greater than half of the nation’s e-commerce buying and selling. Not solely this, these two platforms are additionally accused of limiting entry to the market by giving preferential therapy to sure sellers.
In April this yr, the ministry mentioned the ONDC is predicted to make e-commerce extra inclusive and accessible for customers. Shoppers can doubtlessly uncover any vendor, product, or service by utilizing any suitable software or platform, thus growing freedom of alternative for customers.
The platform will allow the customers to match demand with the closest out there provide. This might additionally give customers the freedom to decide on their most popular native companies.