A India has been making a significant effort to end the dominance of Amazon and Walmart in the e-commerce (e-commerce) in the country, in order to define its own and open network. In fact, this time, according to some sources, this subject has evolved in terms of an alignment with the banks and other institutions participating in the process to expand the field of e-commerce in India.
In this sense, some of the largest banks in India have been discussing the creation of buyer platforms that allow customers to get their orders and services through Open Network for Digital Commerce (ONDC), which the Indian government launched in April 2022, as reported by sources who have contact with Reuters.
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However, the success of the network that promises equal access to all sellers and online shoppers, regardless of business size, is a priority for the Prime Minister Narendra Modi. Without a doubt, he has been facing pressure from small businesses to act against the enormous influence of Amazon and Walmart's Flipkart in Indian e-commerce.
Therefore, it is essential to highlight that in the year 2021, Indian e-commerce moved more than 55 billion of dollars, according to government forecasts, this movement will grow to 350 billion dollars by the end of this decade. Thus, Amazon and Walmart control more than 60% of this market, which currently accounts for about 8% of consumer purchases in a country of 1.35 billion people.
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