Centre's e-commerce scheme to take on Amazon, Walmart: Report

The success of the network, which would promise equal access to all online sellers and buyers regardless of their size, is a priority for Prime Minister Narendra Modi

FPJ Web DeskUpdated: Wednesday, June 01, 2022, 10:02 PM IST
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The government by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter told Reuters. /Representative image |

The dominance of e-commerce firms such as Amazon and Walmart has now prompted the government to come up with a scheme to break that dominance.

The government by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter told Reuters.

Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the Indian government soft-launched in April, sources told Reuters.

The success of the network, which would promise equal access to all online sellers and buyers regardless of their size, is a priority for Prime Minister Narendra Modi, who faces pressure from small businesses to action against the outsized influence Amazon and Walmart's Flipkart in India's e-commerce, Reuters said.

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