August 15, 2021
1 min read

‘ONDC to break silos in e-commerce’

While reviewing the progress, the Minister said that ONDC will work both for products and services….reports Asian Lite News

Union Minister of Commerce and Industry Piyush Goyal on Friday said the proposed ONDC will end monopolistic practices in digital commerce in India

“Goyal deliberated with the members of the advisory council & experts on how the initiative will democratise digital commerce & move it from platform-centric model to an open-network model,” commerce ministry said in a statement after Goyal chaired a meeting of the advisory council.

While reviewing the progress, the Minister said that ONDC will work both for products and services. “Goyal suggested that some guidelines or basic infrastructure, size, ethics and principles should be there. Goyal further added that security and data privacy and confidentiality must be ensured. He said that this will create new opportunities and remove monopolistic environments,” the statement said.

The advisory council includes R.S. Sharma, CEO, National Health Authority, Nandan M. Nilekani, non-executive Chairman of Infosys, Adil Zainulbhai, Chairman, Quality Council of India, Anjali Bansal, Founder & Chairperson, Avaana Capital, Arvind Gupta, Co-founder and Head, Digital India Foundation, Dilip Asbe, MD and CEO, NPCI, Suresh Sethi, MD and CEO, NSDL e-Governance Infrastructure Ltd, Praveen Khandelwal, Secretary-General, Confederation of All India Traders and Kumar Rajagopalan, CEO, Retailer Association of India.

It may be noted, Open Network for Digital Commerce christened ONDC is globally first-of-its-kind initiative that aims to democratize Digital Commerce, moving it from a platform-centric model to an open-network.

“As UPI is to the digital payment domain, ONDC is to e-commerce in India. ONDC will enable buyers and sellers to be digitally visible and transact through an open network. no matter what platform/application they use. ONDC will empower merchants and consumers by breaking silos to form a single network to drive innovation and scale, transforming all businesses from retail goods, food to mobility,” the commerce ministry said.(India News Network)

ALSO READ:Solar power projects create employment in UP

ALSO READ: Pak ‘smugglers markets’ on brink of collapse as troops withdraw

Previous Story

Ghani vows to prevent further bloodshed

Next Story

Biden increases troops deployment to Afghanistan

Latest from -Top News

Islamists Rise Under Yunus Rule

After the departure of former Prime Minister Sheikh Hasina in August 2024, Islamic parties in Bangladesh, crushed for years by the Awami League government, have made inroads into the political arena…writes Baidya

TIES WITH CHINA: Is Bangladesh Going Lanka Way?

Plans for nine Special Economic Zones, including Chinese-developed sites in Chattogram and Chandpur, promise jobs but risk creating enclaves where Beijing’s economic priorities overshadow Bangladesh’s….reports Asian Lite News On a humid March

Khaleda Zia’s Son Return Looms as Yunus Faces Heat

The core question remains whether Rahman can provide leadership in politically turbulent times in Bangladesh….reports Asian Lite News Speculation is mounting in Bangladesh over the possible return of Tarique Rahman, son of

India Eyes Top 5 Spot in Global Entertainment

With focused investments, policy support, and infrastructural upgrades, India is on track to position itself as one of the top five live entertainment destinations globally by 2030…reports Asian Lite News Fueled by
Go toTop

Don't Miss

Singapore Thanks India For Exempting From Rice Ban

India recently decided to allow the export of rice to

Quad partnership ‘sets the tone’ for Blinken’s India visit

Blinken is scheduled to travel to New Delhi and Kuwait