Publication - News9 Network
Edition - Online
The true marker of a nation on the right trajectory used to be only a combination of trade statistics, agricultural output, job creation, etc., While these criteria points are still relevant today, the emergence of the digital revolution has taken a higher priority than all of the above globally. A quick example of this higher priority can be seen in China where the digital economy accounted for 40% of their overall GDP. India has taken progressive steps equivalently through the Gati Shakti Initiative where all modes of logistics regarding trade ranging from railways, air transfers, and the sea are connected through one digitized channel. Following this vision, the government of India has introduced an innovative initiative called ONDC, aimed at small and medium businesses (SMEs) all over India. The Open Network for Digital Commerce (ONDC) is a network that operates on an open protocol. Its purpose is to facilitate local commerce across various sectors, including mobility, grocery, food ordering and delivery, hotel booking, and travel, among others. This network allows any application with network capabilities to access and interact with these segments, enabling them to be discovered and engaged. This will create a level playing field in e-commerce for millions of small and medium businesses all over India and will minimize the dominance of monopolies such as Amazon, Flipkart, etc.
Please click on the link below: