Union Commerce and Industry Minister Piyush Goyal has underlined the need to make e-commerce as the engine of India’s growth without damaging small retailers. The Minister was addressing the inauguration session of the Open Network for Digital Commerce’s (ONDC) Enabling Bharat 2.0 in New Delhi today. Mr Goyal said there is a problem arising out of the predominance of big tech companies in the e-commerce space and also a serious challenge to small retailers across the country. He said although e-commerce affects only three to four percent of India’s retail trade but the policymakers will have to think about it and find a solution. Mr. Goyal emphasised that India now believes digital public infrastructure is the need of the hour. He said the world is living in an era of connectivity and convenience and all of it has to be citizen-centric.
Mr. Goyal said, UPI is providing opportunities for hundreds of fintech companies and sectoral services. The Minister added that the cost of payment in India is one of the lowest because it is not concentrated in one or two companies. Highlighting the use of technology, he said India was able to roll-out the vaccines seamlessly across the country. He also said the ONDC is using a system of creating an interoperable network, allowing different platforms of collaboration, creating an interface to help the buyers and sellers, and hence leading to a win-win solution.
