INDIA'S NEW BAZAAR

WITH MORE AND MORE STAKEHOLDERS RALLYING BEHIND THE IDEA OF ONDC, THE PROMISE OF AN OPEN AND UNRESTRICTED E-COMMERCE EXPERIENCE IS BEGINNING TO TAKE SHAPE. BUT THERE ARE SIGNIFICANT CHALLENGES TO BE OVERCOME

- BINU PAUL

“THE LIMIT OF ONDC (Open Network for Digital Commerce) is the limit of our own imagination,” says Gopal Srinivasan, Chairman and MD of TVS Capital. His words never rang truer than when Kudumbashree, a Kerala government-supported organisation of women’s neighbourhood groups, joined the initiative this March.

For the first time in its 25 years of existence, women entrepreneurs among Kudumbashree’s 4.5 million members will have their products available for purchase online across India. The integration of organisations like Kudumbashree into ONDC is a natural fit for its core value—address the inadequacies of India’s digital commerce ecosystem and establish a level-playing field for small-scale vendors to thrive.

“Everybody is excited about its possibilities,” says a visibly charged-up T. Koshy, CEO of ONDC, during an hour-long interview with BT at its new August Kranti Marg office in south Delhi. “When UPI was launched, everyone said it is a developing country problem. Today, everyone accepts it is the best in the world. When it comes to digital commerce, the market concentration and associated practices which are detrimental to the industry in general and small industry in particular, are a problem globally.” A veteran technocrat, the 62-year-old Koshy has worked on several digital infrastructure initiatives such as National Securities Depository Limited (NSDL) and Aadhaar, besides having a decade-long stint with consulting biggie EY.