India's plan to develop Open Network for Digital Commerce (ONDC) is not good news for already knackered global e-commerce giants Amazon, Walmart's Flipkart. Amazon and Flipkart's ambitions to dominate India's $800 billion retail market will soon face a reality check as India's commerce ministry looks to 'end monopolistic practices' in digital commerce. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols independent of any specific platform. Govt claims that 'as UPI is to the digital payment domain, ONDC is to e-commerce in India.' The initiative is aimed to democratise digital commerce and move it from platform-centric model to an open-network model.

Source: Mint August 14, 2021 05:05 UTC