Tech Is Biggest Leveller In Digital Commerce

India is one of the world's fastest-growing digital commerce markets, with a market size of nearly USD 150 billion predicted by 2025. This massive growth has been partly fueled by the country's ongoing technological development over the last decade or so. 

The government has also provided assistance and push to the technological infrastructure in order to improve efficiency and simplicity of access. The goal is to build a scalable digital ecosystem and infrastructure that will allow millions of individuals in the country to access financial services.

Digital commerce frameworks and open APIs built under the umbrella of India Stack have the potential to reshape the way financial services are offered throughout the country. As the landscape evolves to encompass more parts of digital infrastructure, such as UPI and Account Aggregators, consider the promise that Open Network Digital Commerce (ONDC), has for the country's MSMEs.

Nitya Sharma, founder of Simpl explained that the demand in physical retail depends on location whereas demand in online retail is based on user experience. “User experience including how the website is functioning, checkout, data security, delivery and other experiences,” Sharma added.

Mukesh Mohan Gupta, President of MSME Association, CIMSME said that the efficiency of MSMEs and the reach of products is indeed increased because of digital transformation including ONDC operations.