The report elaborates on the vast potential of open network initiatives, and how these technologies can revolutionize digital commerce in India
‘Democratising digital commerce in India: An open network for inclusive, competitive marketplaces’ report by a ONDC (Open Network for Digital Commerce), elaborates on the vast potential of open network initiatives, and how these technologies can revolutionize digital commerce in India.
India’s digital public infrastructure (DPI) is unlocking digital inclusion for the citizens with innovations across banking and financial services, healthcare, logistics and transport among others. While digital commerce in India still has a low share which is 7% of the total retail market, with 165 million users.
The report elucidates the five trends that will continue to drive the digital growth in India and how an open network can help to build an inclusive digital commerce ecosystem. It also explains the applications and innovations that could be enabled through an open network.
Key findings of the report are as follows:
- Around 75% of Indians who have internet access are not shopping online.
- Of the 165 million consumers who already use digital commerce, about 10 million to 15 million are power users.
- Open network could enable economic growth by helping buyers and seller overcome the challenges to digital commerce because of its three features including interoperability, unbundled system and decentralization.