17 May 2023, 13:18 — 5 min read
The Indian ecommerce sector is on an upward trajectory and is on its way to becoming the third largest market in the world by 2030. Open Network for Digital Commerce (ONDC) has been set up under the guidance of the Ministry of Commerce, to democratise the ecommerce sector in India and make it more inclusive and accessible to consumers. The idea of Open Network goes beyond the current platform-centric digital commerce model where the buyer and seller must use the same platform/ application to do a business transaction. Instead, in ONDC’s network-centric model, so long as platforms/applications are connected to the open network, buyers and sellers can transact no matter what platform/application they use to be digitally visible.
Let us understand with an example. A buyer needs a product and logs on to their favourite app but doesn’t find the product. Buyer then goes to different apps to find more options for pricing, quality, delivery etc. On the other hand, a seller usually lists their products on a limited number of applications and therefore not being discoverable by the buyer. ONDC, is a Government of India initiative which allows buyers and sellers to transact with each other irrespective of the app they are listed on as long as they are ONDC compliant. This is similar to how we use UPI technology to send and receive money digitally. Thus, what UPI is for money, ONDC is for ecommerce! No matter which platform a buyer or seller may be on, ONDC enables them to meet.
GlobalLinker is now a network partner for ONDC. This means that buyers and sellers that have created their online stores with GlobalLinker, now have the option to join ONDC. This will vastly improve their visibility and they will be part of what is being called ‘everyone's commerce’ where anyone can sell and everyone can buy from each other online.
Watch this video to learn the 3-step process to become ONDC enabled via GlobalLinker.
The aim of ONDC is to promote fair competition and interoperability among different online marketplaces and sellers, reduce costs, and improve efficiency.
For online stores in India, ONDC can offer several benefits. Here are some of them:
1. Improved visibility: By joining the ONDC network, online stores can potentially reach a wider audience and improve their visibility. The network will enable seamless integration of multiple ecommerce platforms, making it easier for consumers to discover and buy products from various stores.
2. Interoperability: ONDC aims to create a standard set of APIs that can be used by different online marketplaces and sellers. This can help improve interoperability, allowing them to seamlessly connect with each other and share data.
3. Level playing field: ONDC aims to create a level playing field for all online marketplaces and sellers, regardless of their size or resources. This can help promote fair competition and prevent larger players from dominating the market.
4. Improved customer experience: By providing a common platform for online commerce, ONDC can help improve the customer experience by reducing friction in the buying process. This could include faster and more reliable delivery, improved product discovery, and better customer support.
5. Access to new markets: The ONDC network can potentially open up new markets for online stores by enabling them to reach consumers in remote areas and smaller towns and cities. This can help online stores expand their business and increase their revenue.
Overall, ONDC has the potential to significantly transform the ecommerce landscape in India and offer several benefits for online stores and sellers.
Also read: 5 Reasons Your B2B Business Needs an Ecommerce Website
To explore business opportunities, link with me by clicking on the 'Connect' button on my eBiz Card.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy, or position of GlobalLinker.
Posted byMalavika Jaggi
Growing Business Units & Client Servicing
Winners of the Telangana State Industry Awards 2022
11 Oct 2022, 12:56
Get more sales leads with an online business profile
11 May 2022, 16:45
Most read this week
Please login or register to join the discussion