ONDC promotes the hyper-local e-commerce business model in India: Nandan Nilekani

0
85

The government’s Open Network for Digital Commerce (ONDC) platform will democratize e-commerce for millions of small retailers in Indiapaving the way for the emergence of more dedicated distribution and logistics companies, Chairman and co-founder of Infosys Nandan Nilekani said Tuesday.

According to him, ONDC will not be limited to a few players, but everyone in India – a small grocery store owner, a small electronics store or a restaurant owner – will bring millions of such people to the e-commerce market and buyers will come from every consumer app .

“Today, India has achieved financial inclusion in about seven to eight years with homegrown technologies such as Aadhaar, UPI, QR code and more. The next step is to connect millions of small retailers to mainstream e-commerce with ONDC to create a. ​robust digital public infrastructure to be created,” Nilekani said during one PhonePe launch event.

The fintech major announced the launch of a new Shopping app called “Pinbuilt on top of the ONDC platform.

The app will focus on hyper-local trading and is now available for download on the Google Play Store and App Store. PIN is currently only live for customers in Bengaluru and will be launched in other cities very soon, the company said.

Nilekani said the government is going to democratize e-commerce to bring it to the masses.

PhonePe said ONDC can foster the rapid growth of a new hyperlocal e-commerce business model. Aside from local buyers and sellers, such a model will also benefit other ecosystem participants such as the last mile logistics and inventory management players

“Pincode is built on the ONDC network, enabling us to generate merchant demand digitized across merchant platforms in an inclusive manner, while creating new growth opportunities and driving innovation at scale,” said Sameer Nigam, CEO and Founder PhonePe.

ALSO SEE:
IPL 2023: Rajasthan Royals and Royal Challengers Bangalore emerge as top picks from experts
Two tax regimes and the rise of freelancers are driving people towards tax experts, chartered accountants