The open network initiative is going to bring a new revolution in the e-commerce sector, ensuring that the giant domestic and foreign online platforms do not monopolise the market depriving the small entrepreneurs, observed experts at a roundtable.
They said the open network is based on open protocol and will enable all e-commerce platforms to be discovered and engaged by any network-enabled application. It aims to promote open networks for all aspects of the exchange of goods and services over digital or electronic networks.
Aiming to provide a level playing field for all e-commerce platforms, the open network aims to open up new commercial prospects for many stakeholders, particularly for small companies, the speakers added.
The speakers came up with the remarks at a roundtable organised at the Bangladesh Association of Software and Information Services (BASIS) auditorium on Saturday.
Chief Executive Officer of India’s Open Network for Digital Commerce (ONDC) T Koshy virtually presented the keynote at the roundtable attended by Mohammad Hafizur Rahman, head of the e-commerce cell under the commerce ministry, as chief guest. Fahim Mashroor, chief executive officer of bdjobs.com, moderated the discussion also addressed by BASIS President Russell T Ahmed.
In his keynote, T Koshy said, “ONDC is not a new platform; it is a network, method or common protocol through which all the partners of digital commerce can communicate with each other. This method or network will be of great benefit to medium or small online merchants.”
“One of the main objectives of creating the ONDC network is to ensure that the giant domestic and foreign online platforms do not monopolise the market and deprive small entrepreneurs,” he added.
BASIS President Russell T Ahmed said, “The private sector should work together with the government to implement this new network like India. In this regard, BASIS is ready to provide all kinds of technical support to all, including the finance ministry and Bangladesh Bank.”
Mohammad Hafizur Rahman said for small e-commerce platforms, this open network can act as a safeguard against large foreign platforms that aspire to drive them away from the market. The commerce ministry will soon start working on creating an open network platform in Bangladesh too.
“Following the experiences of different countries, the ministry will formulate an open network policy in consultation with the BASIS and other stakeholders”, he said.
The Open Network for Digital Commerce (ONDC) is a government-backed Indian project aimed at enabling small merchants to access processes and technologies that are typically deployed by large e-commerce platforms such as Amazon and Flipkart.
On April 29, 2022, ONDC launched its alpha version in India with whitelisted users in five pilot locations. Since then, it has grown to more than 85 cities. On September 30, the public in Bengaluru may access ONDC Beta Live.
