E-commerce - #SectorUpdates
India may soon have a single e-commerce platform that will bring together buyers, sellers, logistics players, and payment facilitators, empowering consumers with a wide array of products, vendors, and price options. The proposed platform will save customers from coming under the pressure of monopolistic competitions and will also offer them convenience as they need not use diverse apps or search on various e-commerce platforms to find products and services of their choice. The Open Network for Digital Commerce (ONDC) is a not-for-profit initiative started by the Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with tech leaders and start-up entrepreneurs during the pandemic. Shri Piyush Goyal, Union Minister for Commerce and Industry, feels this open network would have the ability to transform e-commerce not only in India, but also in the whole world.