There will be no revolution.Īadhaar, the unique number used to authenticate people’s identity digitally, took off because the state put its coercive power behind it. Take that away, drop the subsidies on delivery charges and eliminate the incentives to sellers, and this is where the dust will likely settle - restaurants will get a slightly better deal than now, forcing Swiggy and Zomato to lower their commissions and improve service. (Good luck wooing millennials and Gen Z with that acronym.) The word-of-mouth popularity is largely due to a 50-rupees-per-transaction initial discount that the banks backing ONDC are funding. I remain skeptical of ONDC, and not only because of its clunky moniker. But Goyal has cottoned on to this, and threatened to exclude those e-commerce players that are not coming to the network with their main platforms. That’s perhaps why Walmart's PhonePe payments unit has designed Pincode, a custom-built app for hyperlocal shopping. Participating too vigorously might mean cannibalizing Flipkart, its main retail business. After all, the government’s open bazaar won’t stop at aggregating meal orders or auto-rickshaw rides. Paytm is getting behavioral data by seeing more of its users’ shopping transactions fulfilling those orders is not its headache. (Hat tip to Moneycontrol, which did the price comparisons recently.) Customers are discovering McChicken meals for 190 rupees ($2.30) on a fintech app like Paytm when the same thing is selling on Zomato Ltd.’s site for 204 rupees. In Bengaluru and New Delhi, thousands of online restaurant orders are bypassing Swiggy and Zomato, the two popular online food-delivery platforms. Those who don’t come on board now with their customer data will repent because, as TechCrunch quoted the minister as saying recently, at some stage “we will also have to cut off those who are left behind.”Īt least that’s where the project is at. The two American-owned market leaders, Walmart’s Flipkart marketplace and Amazon’s India shopping site, can expect the rhetoric to get louder as next year's general elections draw nearer. Commerce Minister Piyush Goyal says India will use the “full force of the government” to promote the open e-commerce network. The political bluster accompanying ONDC, however, is undermining the project’s economic promise. Within seconds, the customer sees a set of choices at a range of price points, along with transparent options for delivery modes, times, and costs provided by a choice of logistics operators. The network makes it possible for them to connect with thousands of sellers across the country who sell on ONDC via their preferred seller app. Buyers can tap into it using any participating app to launch a search for an item. Moving the diverse Indian bazaar of goods and services online democratizes digital commerce for buyers and sellers. ONDC presents an alternative to the existing platform-centric model. In a report with the consulting firm McKinsey & Co., ONDC, the non-profit that has emerged as a result of Nilekani’s advocacy and the government’s blessings, describes how it will expand this stunted landscape: Only a fraction of them garner meaningful business on platforms. Around 75% of Indians with internet access are not shopping online, while only 5 million out of the country’s 100 million micro, small and medium firms are registered to sell digitally. These ideas are used by individual investors as well as institutional investors to do further research and stay ahead.Meanwhile, Nilekani has shifted his gaze to e-commerce. The reader-friendly presentation of the idea, supplemented by relevant data and information, can be accessed online through Capita Telefolio and Telefolio Gold. The power of the database is harnessed by our fired-up reporters to generate interesting ideas. Besides stock market and company-related articles, the magazine’s independent and insightful coverage includes mutual funds, taxation, commodities and personal finance. While all the leading institutional investors use Capitaline databases, Capital Market magazine gives access to the databases to individual investors through Corporate Scoreboard. Many innovative online and offline applications of these databases have been developed to meet various common as well as customized requirements. Over the years the scope of the databases has enlarged to cover economy, sectors, mutual funds, commodities and news. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. Less : Current Liabilities and Provisionsįormed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India.
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