THE MOOD WAS light in Lutyens Delhi. A cantankerous Parliament session had just ended and the ‘Amrit Mahotsav’ festivities for the 75th year of independence were being launched. Commerce Minister Piyush Goyal, however, was all business as he chaired an innocuous meeting at his office, a virtual gathering of about a dozen people to discuss a project the government had initiated. Goyal did most of the talking, laying down the roadmap for what, in true Sarkari style, had its own new-fangled abbreviation— ONDC, or Open Network for Digital Commerce.
Later that night, as the government issued a statement outlining the rough contours of the project and its aim, alarm bells started ringing. From the glitzy glass-and-steel towers of Bengaluru all the way down to the US, the uneasy whispers had just one question. Is this aimed at finishing off Amazon and Flipkart in India?
The official government note was circumspect. “ONDC is a globally first-of-its-kind initiative that aims to democratize digital commerce, moving it from a platform-centric model to an open network,” it said. “[It] will enable buyers and sellers to be digitally visible and transact through an open network. No matter what platform or application they use.”
Goyal was blunter. It will end the monopolistic practices in digital commerce in India, he declared. “ONDC will not just be limited to products but also to services,” he added.
This story is from the September 19, 2021 edition of THE WEEK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 19, 2021 edition of THE WEEK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
What Will It Take To Clean Up Delhi Air?
IT IS ASKED, year after year, why Delhi’s air remains unbreathable despite several interventions to reduce pollution.
Trump and the crisis of liberalism
Although Donald Trump's election to a non-consecutive second term to the US presidency is not unprecedented—Grover Cleveland had done it in 1893—it is nevertheless a watershed moment.
Men eye the woman's purse
A couple of months ago, I chanced upon a young 20-something man at my gym walking out with a women’s sling bag.
When trees hold hands
A filmmaker explores the human-nature connect through the living root bridges
Ms Gee & Gen Z
The vibrant Anuja Chauhan and her daughter Nayantara on the generational gap in romance writing
Vikram Seth-a suitable man
Our golden boy of literature was the star attraction at the recent Shillong Literary Festival in mysterious Meghalaya.
Superman bites the dust
When my granddaughter Kim was about three, I often took her to play in a nearby park.
OLD MAN AND THE SEA
Meet G. Govinda Menon, the 102-year-old engineer who had a key role in surveying the Vizhinjam coast in the 1940s, assessing its potential for an international port
Managing volatility: smarter equity choices in uncertain markets
THE INDIAN STOCK MARKET has delivered a strong 11 per cent CAGR over the past decade, with positive returns for eight straight years.
Investing in actively managed low-volatility portfolios keeps risks at bay
AFTER A ROARING bull market over the past year, equity markets in the recent months have gone into a correction mode as FIIs go on a selling spree. Volatility has risen and investment returns are hurt.
