Expert Team Set To Execute Proposed ONDC

Please Subscribe and Get Daily Updates in Your Inbox!!!

Please Subscribe and Get Daily Update in Your Inbox

29 October 2021 Current Affairs:A Private Non profit company will be set up by Government Of India to implement the Open Network for Digital Commerce (ONDC) initiative.

♦ The Department will execute an open Network for Digital Commerce Initiative to promote Industry & Internal Trade (DPIIT).
♦ The initiative is also expected to give a start-up mindset, approved by management with a futuristic vision, comfort with cutting edge technology, a deep knowledge of commerce and a missionary outlook to drive change.

♦ ONDC will democratize digital commerce to move it from a platform-centric model to an open network. 
♦ This is like the democratization of the digital payment system by Unified Payment Interface (UPI).
♦ The initiative will enable buyers & sellers to be digitally noticeable and transact through an open network, despite the platform or application.
♦ The initiative also aims to enable merchants and consumers by breaking departments to form a single network for driving innovation & scale and changing all businesses, including food, retail goods, and mobility.
♦ It will help improve the network by adopting & building enabling technology and encouraging voluntary participation of the ecosystem players.
♦ It will also build a code of conduct and rules of the network to bring in discipline.
♦ ONDC will also offer immediate assistance to support the network, such as digital infrastructure for the network, grievance redressal etc.

Leave a Reply

Your email address will not be published. Required fields are marked *