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
Loading

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.

Highlights:
♦ 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
♦ 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Your email address will not be published.