India plans to launch an open digital ecommerce network ?
Open digital ecommerce network: India plans to launch an open digital commerce network (ONDC) today for the government to end the dominance of U.S. companies Amazon and Walmart in the fast-growing e-commerce market.
The decision to launch an open e-commerce platform came after India’s antitrust crackdown on local Amazon and some Flipkart Walmart sellers on Thursday for alleged antitrust breaches.
Indian retailers have long acknowledged that Amazon and Flipkart platforms benefit several large sellers by imposing predatory pricing, but companies claim to comply with all Indian laws.
The government’s open network digital platform aims to allow buyers and sellers to connect and transact with each other, no matter what other applications they use. The Commerce Department told Reuters it will be released immediately on Friday, today.
The two major international players control more than half of the country’s e-commerce, regulate market access, favor certain vendors and reduce supplier margins, the government document said. However, the name of the company was not mentioned.
E-commerce companies Amazon and Flipkart have not yet responded to this request. The document aims to bring together 30 million traders and 10 million online traders, with at least 100 cities planned to reach by August. It will focus on the local languages of buyers and sellers, with a focus on retailers and rural consumers.
The government has begun receiving support from retailers and venture capital firms. Banks such as ICICI Bank, Bank of Baroda and State Bank of India have already committed to invest $ 2.25 billion in ONDC. rupees or about 33.26 million. USD.