- GS-2: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
- GS-3: Indian Economy and Challenges
Context: Digital commerce is reshaping the global business environment and can provide a fairer and more inclusive playing field for businesses. It can create economic opportunities for new sets of players, especially small businesses.
- COVID-19 has fueled the growth of digital commerce across the globe. Though digital commerce in mobility and travel services declined, digital commerce in the retail sector saw a rise in the share of total retail sales, from 16% in 2019 to 19% in 2020.
- This was a result of a spike in business- to-consumer (B2C) sales, particularly evident in online sales of medical supplies, household essentials, and food products. COVID-19 also resulted in increased business-to-business (B2B) digital commerce.
- The future of open retail is taking shape in India as the nation rolls out the Open Network for Digital Commerce (ONDC) in 100 cities in August 2022. It is being spearheaded by Infosys founder Nandan Nilekani.
Mains Practice Question – Do you think Open network for Digital Commerce is going to alter the paradigm of e-commerce sector? Critically analyse.
Note: Write answers to this question in the comment section.