Microsoft joins ONDC network, to launch a shopping app in India
- IBEF
- August 10, 2022
Microsoft has become the first company to join the Indian government-backed Open Network for Digital Commerce (ONDC), a network designed to provide all e-commerce businesses a level playing field.
Microsoft plans to promote social e-commerce to the Indian market through ONDC. Additionally, it will release a shopping app in India that would be accessible via the ONDC network and enable customers to find the best deal being provided by merchants and sellers.
Smaller retailers and businesses can now sell online with the assistance of major e-commerce players. In May, Amazon revealed that in the previous nine years, it has digitalized more than 40 lakh MSMEs and generated more than 11.6 lakh direct and indirect jobs.
The Indian e-commerce sector is expected to grow at a CAGR of 19.24% to US$ 111.40 billion by 2025 from US$ 46.20 billion in 2020.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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