Understanding ONDC: A Comprehensive Overview of its Functionality
Understanding ONDC: A Comprehensive Overview of its Functionality Quick Summary: India's technology-focused economy has been significantly impacted by the rise of E-commerce. The widespread acceptance of the "anything-anywhere-anytime" shopping concept has led to substantial growth in the nation's digital commerce market. As a result, it is projected that the revenue generated from E-commerce will reach US$71. 9 billion by 2023, with a potential growth rate of up to 13. % over the next five years. This suggests that the E-commerce sector will continue to play a crucial role in India's economic progress and development. The Indian government has implemented measures to address monopolistic behaviors in the e-commerce industry by introducing the Open Network for Digital Commerce (ONDC), which operates on an open protocol. The network was launched in Bengaluru, where it successfully processed 161 orders in a day during its beta phase. The purpose of this initiative ...