ONDC will help small retail survive onslaught of large tech-based e-com firms: Piyush Goyal

The Open Network for Digital Commerce (ONDC), a unified payments interface-type protocol, will help small retailers survive the onslaught of large tech-based e-commerce companies, Commerce and Industry Minister Piyush Goyal said on Monday. ONDC is an initiative of the ministry to help small retailers expand their business and reduce the dominance of e-commerce giants. It aims to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform. It offers small retailers an opportunity to provide their services, and goods to buyers across the country through an e-commerce system, where…