Pages

Search This Website

Wednesday, August 17, 2022

What is Govt’s Open Network for Digital Commerce and Why Microsoft has joined it now? – Explained

What's Govt’s Open Network for Digital Commerce and Why Microsoft has joined it now?- Explained 



Microsoft Joins Govt’s ONDC Network Tech Giant Microsoft has joined the Government- backed Open Network for Digital Commerce. Let’s decode what's ONDC Network and its crucial features, how does it work and why has Microsoft joined it now?- Explained 


Microsoft Joins Govt’s ONDC Network Tech Giant Microsoft has joined the Government- backed Open Network for Digital Commerce. ONDC design is a major technology network that's being developed to enable small merchandisers and mama - and- pop stores in corridor of the country to use advanced technology to ameliorate commerce. As per the statement issued by Microsoft, as part of the ONDC Network, it plans to develop sociale-commerce which will allow small businesses to give group buying along with a shopping app for Indian Consumers. Let’s decode what's ONDC Network and its crucial features, how does it work and why has Microsoft joined it now?- Explained 

 

What's ONDC- Open Network for Digital Commerce? 


Open Network for Digital Commerce, is a government backed design which aims at furnishing technology enabled result to enable original commerce across different sectors. The network will enable small dealers to expand their immolations across different sectors or parts including mobility, grocery, food order and delivery, hostel booking and trip, among others, to be discovered and engaged by any network- enabled operation. The action is launched by Department for Promotion of Industry and Internal Trade( DPIIT) under the Ministry of Commerce and Industry. 

 

One of the crucial objects of ONDC is to give technology platform to small business possessors and produce new openings of trade and commerce for them. Through this, the government plans to check digital monopolies by supporting micro, small and medium enterprises and small dealers and bringing them online. 


ONDC Network- Key Features 

 

The central premise for developing ONDC by the Government is to produce and open technology network for small and micro business possessors. ONDC will help micro, small and medium businesses to expand their online presence and reach further guests while also erecting a credit history and using data to take informed opinions. The crucial features of ONDC are as follows 

 

  • Enable merchandisers and Buyers to be digitally visible and distribute through an Open Network 
  • Help bring out businesses and merchandisers out of silos and make a single network to drive commerce
  • Promote open network developed as per open- sourced methodology, using open specifications and open network protocols 
  • End duopoly ine-commerce business by mammoths of Amazon and Flipkart 
  • Digitize value chain across sale chain for businesses, merchandisers and 


How does ONDC Network work? 

 

ONDC Network works as an intermediatory between buyers and merchandisers. The network will act as an interface and will host buyers and merchandisers. presently, the buyer side interface is being managed by PayTM while the dealer side interface is managed by GoFrugal and other similar merchandisers 

 

Upon deployment of ONDC, when a buyer quests for a particular item, it'll connect them to ONDC network via their separate app. On the other end, merchandisers who have the item that the buyer is looking for will be featured through open interface as a list. From then, buyer can choose the item and place an order for the same while taking advantage of the open network developed as per open- sourced methodology, using open specifications and open network protocols. ONDC is also onboarding several logistics mates along with hosting service provides and resource itineraries to help promote ecommerce business through the open network. 


Why has Microsoft Joined Govt’s Open Network for Digital Commerce? 

 

ONDC Network has been under development for relatively eventually now and Microsoft joining the ONDC crusade makes it one of the first transnational tech titans to do so. As part of ONDC, Microsoft plans to develop and introduce a sociale-Commerce request through its app. As part of the network, the US- grounded tech mammoth will also launch a shopping app which will be developed simply for Indian guests and enable them to harness social circle to discover stylish prices among retailers ande-sellers. 


With other major names including Dunzo for Business( D4B), Go Economical, Paytm, Digit, PhonePe and Loadshare formerly on ONDC, Microsoft joining it'll push the envelope of creating the “ largest interoperable open platform in a shot to breake-commerce monopolies and homogenize digital business. ” 

 

Who differently has joined the ONDC So Far? 

 

Presently, several crucial mates have joined the ONDC network which is aimed at enhancinge-commerce business for small and borderline businesses. piecemeal from Microsoftl, which has joined the crusade now, several other crucial players have also partnered and joined ONDC. The key among them include 


No comments:

Post a Comment