“Those who do not have access to digital e-commerce networks today will be encouraged to adopt digital means more easily,” Agarwal said.
“On 31 December 2021, ONDC received its Incorporation Certificate as a Private Sector Led Nonprofit Company”.
Dynamic pricing, inventory management and delivery cost optimization are the three key elements in the Open Network for Digital Commerce (ONDC), which will help reduce the cost of doing business for everyone, including retailers, a top government official said on Friday.
ONDC is a government initiative to promote open networks in all aspects of the transfer of goods and services through digital or electronic networks.
Anurag Jain, Secretary, Department of Industrial and Internal Trade Promotion (DPIIT), said that through this, consumers can find any vendor, product or service using any ONDC compatible application or platform and thus increase the freedom of consumers to choose.
This can actually be another devastating change, but retailers need to contact them to explain the benefits of this platform by easing their concerns, he added.
“The three main areas of ONDC are dynamic pricing, inventory management and delivery cost optimization. All these facilities will reduce the cost of doing business for all, “he said at the launch of ONDC’s National Roll Strategy:” Rethink the Future of Digital Commerce with ONDC “
He said that so far only big players can take advantage of e-commerce and small people are still out of it. Speaking on the occasion, DPIIT Additional Secretary Anil Agarwal said that all the activities like cataloging, inventory management, order management, and order fulfillment will be standardized under ONDC.
“So what happens is that instead of being governed by specific platform-centric policies, small businesses can use any ONDC app that is compatible, which opens up multiple options for small businesses to find through the network and run their business,” Agarwal said.
Presenting the outline of ONDC, he said the initiative aims to promote open networks in all aspects of the transfer of goods and services through digital or electronic networks.
Agarwal said it would encourage those who do not have access to digital e-commerce networks today to easily adopt digital means.
He said ONDC would also have several public-conscious shareholders. “I have been told that there is a great deal of interest in investing in ONDC. Therefore, ONDC will act as a non – profit, non – profit organization, “he said.
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