Open Network for Digital Commerce (ONDC)

Open Network for Digital Commerce (ONDC)
  • Open Network for Digital Commerce (ONDC) is India’s open-source platform for e-commerce.
  • It is an initiative to control digital monopolies and make the industry more inclusive for buyers and sellers alike.
  • It is a first-of-its-kind initiative in the world.
  • It has been launched by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
  • It was incorporated as a private sector non-profit company in 2021.
  • It fosters open networks developed on open-sourced methodology, using open specifications and network protocols, and independent of any specific platform.
    • Open source implies that technology or code deployed for the process is freely made available to everyone.
  • It is modelled around Unified Payments Interface (UPI).
  • The task to integrate e-commerce platforms on ONDC has been assigned to the Quality Council of India.

Significance of ONDC

  • It empowers merchants and consumers by breaking silos to form a single network to drive innovation and scale, transforming all businesses from retail goods, and food to mobility.
  • As all e-commerce companies will operate using the same processes, it provides a boost to smaller online retailers as well as new entrants by ushering in discoverability, interoperability, and inclusivity.

Latest News

  • 31 August 2022: The National Payments Corporation of India (NPCI) has received the nod from the Reserve Bank of India and the Union Ministry of Finance to acquire a 10 per cent stake in the Open Network for Digital Commerce (ONDC).
  • 30 August 2022: Union Minister for Commerce and Industry, Shri Piyush Goyal called for the integration of the One District One Product (ODOP) initiative with the Open Network for Digital Commerce (ONDC).

Source

  1. CNBC TV


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