BENGALURU : The Open Network for Digital Commerce (ONDC) is poised to disrupt four key industries, financial services, manufacturing, retail and e-commerce, and agriculture. According to a whitepaper titled ‘Commerce@Bharat: Redefining business models and supply chain’, released by Deloitte, ONDC can support the country’s aspiration to elevate manufacturing sectors’ GDP share from 16-17% to 25%.
In the financial services industry, by digitising SME data and expanding banks’ customer experience horizons, the ONDC ecosystem opens new avenues of commerce. The report said with the increasing significance of online sales, the retail ecosystem can use ONDC for streamlined interactions within the supply chain and with end users.
In the case of the Agriculture industry, with the potential to revolutionise technology adoption in the agricultural landscape, ONDC can unite buyers and sellers across the network. India’s e-commerce sector is projected to reach a value of $350 billion by 2030.
ONDC seeks to democratise the e-commerce landscape in the nation. Currently, e-commerce contributes just about 4.3% of the retail commerce sector in India. “ONDC is a remarkable opportunity for India’s economy spanning diverse industries,” said Sathish Gopalaiah, President, of Consulting, Deloitte South Asia.“With a unique proposition built around agility, security and profitability at the same time, ONDC streamlines value chains, bridges gaps, and endorses innovation paving the way for the next generation to explore novel paths,” he added.