NEW DELHI: Microsoft on Tuesday joined the government’s Open Network for Digital Commerce (ONDC) to introduce social e-commerce in the Indian market. It is the first big technology company to do so.
The tech major also plans to launch a shopping app in the country that will allow buyers to discover the best price offered by retailers and sellers. The app would be available on the ONDC network.
“It is a win-win for both buyers and sellers as it will enable them to connect without dependency on any e-commerce solution,” a Microsoft spokesperson said in a statement. The Open Network for Digital Commerce aims at democratising the Indian e-commerce landscape, creating a level-playing field for all players.
There are over 4,000 small and big e-commerce companies in India, 500 logistics companies that deliver goods from the portals to customers, and more than 20,000 companies that provide services through e-commerce including travel, hotels, etc, according to industry watchers.
The companies that have joined ONDC include delivery start-up Dunzo for Business (D4B), Go Frugal, Paytm, Digit, PhonePe and Loadshare. E-commerce platform Snapdeal will also debut on ONDC this month.
Snapdeal will launch three main product categories on ONDC this August comprising fashion, home, and beauty and personal care, it had earlier said. According to a recent report by the Indian Brand Equity Foundation (IBEF), the Indian e-commerce sector is projected to grow at a compound annual growth rate (CAGR) of 19.24% from $46.20 billion in 2020 to $111.40 billion by 2025.