My Mission: To Give You Facts, Futuristic Strategies & Result Driven Tools
Are you wondering what this new initiative is by the Indian Govt.?
In addition
How will it revolutionize India's digital commerce sector?
You might have a lot more questions on your mind, just relax!
In the next two minutes, we will answer all your questions.
Now let's get to the good stuff!
Let's get started!
The first thing we need to know about ONDC is what it is.
ONDC is a government project in India. With a mission to promote open networks for cross-platform exchange of goods and services.
The project is led by the Ministry of Commerce and Industry's Department for Promotion of Industry and Internal Trade (DPIIT). As an open-source project, ONDC uses open specifications and protocols as well as an open-source methodology.
The initiative aims to democratize the digital commerce industry and provide small and medium-sized businesses with a better and more fair opportunity to sell on digital platforms.
The ONDC will move digital commerce from a platform-centric model to a network-centric model, which will allow small and medium sellers on digital platforms to have more power over their businesses.
The ONDC mission is to create a democratized online marketplace for small and medium traders that is the largest interoperable platform.
This will also reduce anti-market practices by some giant eCommerce platforms and break their monopolies, allowing small and medium traders to flourish.
Then, as more small, medium, and other-sized businesses become interested in taking their business online, the more they will do so.
Currently, only 5-6% of India's retail activity is digital, a number that can be multiplied by multiples if ONDC is successful. There can be a significant economic boost for India and its people as a result of it.
Its ultimate benefit is that it will give every seller access to every buyer and every buyer access to every seller. As a result, it will provide more trading options to traders and create more transparency in the market.With ONDC's open network platform, all traders will be able to eliminate a lot of anti-market practices, and in particular, small traders will have access to new opportunities.
Here's what Shireesh Joshi, (Chief Business Officer & President, Network Expansion for ONDC) said about the transformations that are supposed to happen with the launch of this big project under the Indian Govt.
p>As Joshi told IANS, "Scale that was limited to a few players will now be available to all and help in democratizing."He also made an explanation of the goals of the ONDC platform. He said, “The goal is to take the 4-5% eCommerce penetration to population scale. Nothing is designed for altering the marketing shares of the existing 4-5%. Ecommerce majors also stand to benefit from being part of ONDC and have business risk if they stay out of it. As such, we expect they too will see it right to join, and indeed, some have made public statements to this regard and we welcome them too"
According to Shireesh, ONDC is a democratic and open platform and it is not against anyone, so it's going to be a big opportunity in the eCommerce sector. Whether you are an established player in the market or a newcomer, your success depends on the strategies you use to take advantage of this once-in-a-lifetime opportunity.
Now let's scratch the answer to a very popular question related to ONDC and which is confusing a lot of people.
According to our discussion above, ONDC will provide small players with a better & fair chance at success. In the long run, ONDC will contribute to reducing the dominance of big market players and allowing small players to gain an advantage.
There's more! I would like to add something important.
There is a widespread belief that ONDC is against the large eCommerce platforms and that their profit graph will decline. In fact, no!
"We are not here to challenge Flipkart, Amazon. We are essentially eCommerce enablers helping the small retailers leverage the digitization of commerce through our network,” Joshi said (Source: inc42.com)
He also added, "There have been numerous reports in the media falsely saying that ONDC will challenge Amazon and Flipkart, or even impact their revenues. These are not true,”
Well, these statements by Shireesh Joshi (Senior executive, ONDC) clarify that ONDC is in no way against the big platforms.
Instead, A lot of Giant platforms including Reliance Industries, Tata Group, and many other big companies are showing interest to join the platform as confirmed by Shireesh.
And you'll be amazed to know that Snapdeal has already signed the onboarding agreement to join ONDC
You should get ready to see a PAN India launch of Snapdeal in ONDC with accessibility in more than 2500 cities and towns in the country. More cities and towns will be added later with the expansion of ONDC.
Currently, the team is completing the technical aspects and testing of ONDC in some selected cities in India. ONDC is expected to be launched across India by mid-August.
First, ONDC launched a pilot in five cities (Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong), and it has recently expanded the pilot program to 15 more cities (Noida, Faridabad, Lucknow, Bijnor, Bhopal, Chhindwara, Kolkata, Pune, Chennai, Kannur, Thrissur, Udipi, Kanchipura, Pollachi, Mannar, and Ramnathpuram).)
During the next few days, more cities and locations will be added to ONDC continuously, according to ONDC's CEO.
Hopefully, the information helped!
Hey, hold on! Yet we haven't discussed one of the most important points!
Well, ONDC will give more power to the hands of the customers. With more choices and a highly convenient shopping experience, you will have more options available to you. You'll not have to visit many different sites to compare the prices of the same product offered by different sellers online. You'll get it all at a single marketplace and it'll become much easier for you to find the best deal for yourself
Aside from that, you will also be able to choose your preferred delivery partner.
Understand it this way,
Let's say you buy a mobile phone from Amazon, but you want Bluedart to deliver it instead of Amazon's associated delivery partner. With ONDC, you'll be able to do that easily.
As well as logistics, ONDC will also handle payments and many other aspects of digital commerce under its umbrella.
Moreover, they have promised to keep the privacy and security of consumer data a top priority.
On the other hand, as a consumer, you can also expect to experience a truly revolutionary shopping experience with ONDC that will be more convenient, transparent, and highly secure.
GET DETAILS
Training
LOCATION SERVICES
My MISSON
Digital Marketers In India: I serve you with Hidden Digital Marketing Strategies On Google Ads, Facebook Ads, Instagram Ads & Youtube Ads to upscale your business online, up to 4X faster growth than your competitors & It's true.
