Microsoft, the tech giant from the US, has joined ONDC (open network of digital commerce) to introduce social e-commerce. The ONDC is working on an open network for digital commerce, which will be unique and first-of-its-kind.
Microsoft features in the Fortune 500 companies’ list and is one of the three largest tech companies around the globe. It is the first of these three giants to join hands with ONDC. Currently, it aims to discover the best pricing among retailers and sellers with a shopping app. It will harness the network built by ONDC for the same
According to the MD & CEO of ONDC, T Koshy, the network is more than just a model and has huge unexplored potential. He said that by utilising the strength of their users, Microsoft can implement creative ideas like social commerce swiftly. The onboarding will provide mutual benefits.
A spokesperson for Microsoft added, “The Indian e-commerce industry has tremendous growth potential in the next decade. Initiatives like ONDC can be a game changer amid this boom. Their UPI-like network for digital commerce is a win-win for both buyers and sellers as it will enable them to connect without dependency on any e-commerce solution.”
In recent months, the Department for Promotion of Industry and Internal Trade (DPIIT) had unveiled ONDC. It was introduced in order to build an inclusive e-commerce market. It aims to enable all kinds of sellers and buyers to leverage the digitisation of commerce through its network.
ONDC is currently in the pilot phase in cities like Delhi, Bengaluru, Coimbatore, Bhopal and Shillong. It is working with the giants like Paytm, Digiit, eSamudaay, Dunzo, Gofrugal technologies and Loadshare. Not only that, others including Airtel, Axis Bank, HDFC Bank, IDBI Bank, ITC Store and India Post are also coming forward to integrate with ONDC.
