ONDC To Boost Ecommerce Growth, Aid Job Creation: Piyush Goyal
The Open Network for Digital Commerce (ONDC) will boost e-commerce growth and create an inclusive environment for small businesses and retailers, said Union Commerce Minister Piyush Goyal on Tuesday.
He said that the ONDC aims to transform the ecommerce sector and make it an engine for growth, job creation, and new opportunities while ensuring that small businesses and retailers are not left behind.
"The effort is to make e-commerce the engine of growth, to allow e-commerce to flourish without damaging any large section of stakeholders, small businesses or retailers. It aims at being inclusive, allowing them to participate in this journey of new technologies, new ways of doing business, new ways of creating jobs, and opportunities," he said at a forum organised by ONDC.
He highlighted that despite e-commerce affecting only 3-4 per cent of India's retail trade, the predominance of big tech giants had posed a serious challenge and threat to small retailers across the country.
He stressed that the ONDC would address this issue by creating an interface that allows buyers to have visibility and the ability to buy goods or sell services on any platform without being limited by algorithms that push certain products.
The minister said ONDC would be a 'win-win' solution for both the buyers and sellers.
While talking about how ONDC is making things easier for both buyer and seller, he said, "Instead of registering on multiple platforms to sell their products, sellers can register on the ONDC, creating a larger business opportunity and the ability to serve buyers in their neighbourhood."
"Similarly, buyers can get all the products and services on one single platform, opening up more competition and options and ensuring the best price and quality," he added.
The Indian government is committed to making e-commerce a virtuous part of citizens' lives and allowing them to benefit from it, Goyal said.
The Indian government is optimistic that the ONDC will not only transform e-commerce in India but also become a transformational engine of e-commerce across the world in the years to come.
