ONDC, or the Open Network for Digital Commerce, is a government-backed programme in India that aims to develop an open and compatible e-commerce platform. It is termed the "UPI of e-commerce" because it has the potential to change the way products and services are purchased and sold online.
UPI, or the Unified Payments Interface, is a real-time payment system that allows users to instantly and without fee move money between bank accounts. In India, it has been a major success, with over 2 billion transactions handled each month.
It could help to level the playing field for small businesses and give them a better opportunity of competing with major e-commerce platforms. It could also make it easier for customers to locate the best offers on the items and services they want.
However, in order to be effective, ONDC must overcome various obstacles. One issue will be to attract a substantial amount of suppliers and customers to the site. Another problem would be competing with the market's established e-commerce platforms.
Despite these obstacles, ONDC has the potential to be an important player in the Indian e-commerce business. it could help to make e-commerce more accessible and affordable for everyone