In this article, we will discuss Benefits of ONDC. So, let’s get started.
Benefits of Open Network for Digital Commerce
- Level Playing Field: ONDC is keen to level the playing field for e-commerce operators and widen the digital market access for Micro, Small and Medium Enterprises (MSMEs) and small traders in the country.
- Additionally, it will help new entrants by bringing discoverability, interoperability, and inclusivity.
- Competitive and Innovative Ecosystem: Existing e-commerce platforms operate in compartments and are strictly regulated.
- ONDC will empower suppliers and consumers by breaking the monopoly of giant platforms to drive innovation and transform businesses in sectors like retail, food, and mobility.
- Freedom of Choice for Consumers: Consumers can potentially discover any seller, product or service in a common platform, thus increasing freedom of choice for consumers.
- It will enable the consumers to match demand with the nearest available supply. This would also give consumers the liberty to choose their preferred local businesses.
- Neutral and Regulated Platform: ONDC aims at fostering open networks developed on open-sourced methodology, using open specifications and network protocols, and independent of any specific platform.
- It will set protocols for cataloguing, vendor match, and price discovery on an open source-basis, like the Unified Payments Interface (UPI).
- Snapdeal is the first E-commerce platform to get on the open network.
