The report highlights the transformative potential of the Open Network for Digital Commerce (ONDC) in redefining and democratizing the e-commerce landscape in India
Bengaluru: ‘Commerce@Bharat: Redefining business models and supply chain’ report by professional services network Deloitte underscores the transformative potential of the Open Network for Digital Commerce (ONDC) in redefining and democratizing the e-commerce landscape in India.
The report sketches out the evolution of digital commerce in India, detailing the challenges faced in the initial stages, including concerns over security, trust, and value perception. The significant impact of major digital commerce platforms in creating effortless user experiences and accelerating the transition to digital payments is emphasized.
The report also provides insights into how ONDC will foster increased discoverability of local businesses, enhancing overall user experience and paving the way for innovations in the digital commerce ecosystem.
Key findings of the report are as follows:
- ONDC can support India’s aspiration to elevate the manufacturing sector’s GDP share from 16−17 percent to 25 percent.
- By plugging into ONDC, buyer-facing entities can activate the sell-side universe of commerce for their buyers and seller-facing entities can unlock the buy-side universe of commerce for their sellers.
- The three key opportunities that ONDC brings for both participants and consumers are discoverability of Bharat, new user experiences and innovation in the area of products, services and business models.
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