ONDC to end monopolistic practices in e-commerce: Piyush Goyal
Open Network for Digital Commerce (ONDC) is globally first-of-its-kind initiative that aims to democratise Digital Commerce
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.