• The Union Minister of Commerce and Industry chaired a meeting for the review of the Open Network for Digital Commerce (ONDC) initiative of the Department for Promotion of Industry and Internal Trade (DPIIT).
• ONDC is globally first-of-its-kind initiative that aims to democratise Digital Commerce, moving it from a platform-centric model to an open-network.
• As UPI is to the digital payment domain, ONDC is to e-commerce in India.
• ONDC will enable, buyers and sellers to be digitally visible and transact through an open network. no matter what platform/application they use.
• ONDC will empower merchants and consumers by breaking silos to form a single network to drive innovation and scale, transforming all businesses from retail goods, food to mobility
• ONDC will be compliant with the Information Technology Act, 2000 and designed for compliance with the emerging Personal Data Protection Bill.
Mains Paper 3: Economy
Prelims level: Open Network for Digital Commerce
Mains level: Read the newsfeed