New Delhi : Open Network for Digital Commerce (ONDC) will be bringing in the next revolution for e-commerce in the country after the success of Unified Payments Interface (UPI) . As the UPI only moves money, the opportunity for ONDC is much larger because it can be an intermediary for e-commerce in all categories.
” The effect of open networks is so large that eventually, it allows everyone in the world to participate and innovate. The ONDC is gearing up to bring financial products to the network, and this is expected to happen in the next couple of months. The UPI was a device-agnostic, authentication-agnostic and currency-agnostic network that revolutionised digital banking and digital transactions in the country.” Said Dr Pramod Varma, Former architect of Aadhar and stack while speaking at an interactive session ‘India’s path to digitalisation’ organised by FICCI Ladies Organisation (FLO) , the apex body of business women in the country .
“Open network-based tech-based services, connects the service provider with the consumer directly without having to deal with an intermediary while platform-based services he felt that platforms acted as intermediaries, wresting the value generated on them. Open networks do the opposite.” Said Dr Pramod Varma.
“Use of ONDC can be many including in the areas like education, transportation, e-commerce and healthcare would open up immense opportunities and convenience. ONDC will ensure trust and compliance. Open networks would reduce the cost of doing business and expand markets,” he said.
“In 2018, only 17 per cent of the population had access to the banking system. Within six years, over 90 per cent could access, thanks to the digital infrastructure. India has built the world’s largest digital biometric identity and real-time payment systems. Its use of digital technology has enabled India to achieve financial inclusion for 90 % of its population including 60 % of women. Ithad helped empowering women in the country” Dr Varma added .
“Typically public utilities are created for both economic opportunities as well as sustainable livelihood. The same analogy kind of applies in the digital world. When you create an infrastructure of a similar kind digitally, then it is called digital public infrastructure. The world’s largest digital public infrastructure is the internet itself. It’s important to understand people create different layers of innovation on top of such digital public infrastructure back home while the internet is something everybody knows. The time has come for global real-time payment networks to emerge. But it can’t be one dominated by one company or it can’t be dominated by one country.” He said.
“As we move forward, let us continue to embrace innovation, foster digital literacy, and work towards bridging the digital divide. Digital empowerment can be a powerful avenue for women’s inclusion in the digital economy with new business opportunities, efficiency gains and better access to markets and global value chains. It will be a critical factor in promoting social inclusion and economic development. By giving women access to information and resources, digital empowerment can help to level the playing field and create opportunities for everyone.” Said Ms Sudha Shivkumar, National President , FICCI Ladies Organisation (FLO) while speaking on the occasion .
“Recognizing the transformative potential of digital technologies, FLO aims to bridge the digital gender divide and empower women to leverage digital platforms for their personal and professional growth.One of the key aspects of FICCI FLO’s work is promoting digital literacy among women. By organizing workshops, training programs, and awareness campaigns, FICCI FLO equips women with the necessary skills and knowledge to navigate the digital world.” Ms Shivkumar said.
Those Present on the occasion included Ms Neha Dhadda , Chairperson, FLO’s Jaipur Chapter and MS Poonam Sharma, National Vice President, FLO
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