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Experts' take on what is ONDC going to do for India's digital commerce

videos | May 11, 2022 5:42 PM IST

Experts' take on what is ONDC going to do for India's digital commerce

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In this episode of ‘Mad About Markets’, CNBC-TV18 spoke to T Koshy, CEO, Open Network for Digital Commerce; and Dhiresh Bansal, CFO of Meesho discuss what is ONDC going to do for India's digital commerce.

Open network for digital commerce (ONDC) is a digital project undertaken by the Indian government to develop an open UPI-like architecture for the e-commerce industry. Currently, if sellers want to sell some products of theirs, they enlist themselves on websites like Flipkart, Amazon, Myntra etc.

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Similarly, buyers like you and me log ourselves into these very websites to make our purchases. The database, therefore, of buyers and sellers is exclusive to the website and the transactions are through the platform itself. This is known as the platform based model.
ONDC instead, will be an open source, network on which all participants, sellers and buyers can enlist themselves. Think of it as a directory of sellers and buyers which is open for everyone to access. This open source network will, in turn, be available for both ecommerce platforms and other digital platforms like banks or other apps to provide customers with shopping services too.
With ONDC enabled platforms, buyers will have access to all sellers on the network and sellers will find ready buyers for their wares. This enables providers of niche products and services with the benefit of scale and critical mass, to go online. This also democratizes the digital world for sellers to enter and takes away the entry barriers from large platforms.
T Koshy, CEO, Open Network for Digital Commerce; and Dhiresh Bansal, CFO of Meesho discuss what is ONDC going to do for India's digital commerce.
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