Business
How ONDC is set to be India’s UPI moment for e-commerce
arket practices from Big Tech and according to Shireesh Joshi, Chief Business Officer (CBO) and President, Network Expansion for the Open Network for Digital Commerce (ONDC), the goal is to create population-scale inclusion of e-commerce in the country.
With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online.
Currently, only 5-6 per cent of India’s retail activity is digital.
There are several limitations and constraints of existing platform based e-commerce that will be solved by unbundling and creating interoperability that will further allow any kind of product or service, whether as B2B or B2C, to be transacted on ONDC,” Joshi told IANS in an interview.
One of the immediate outcomes of this unbundling and interoperability is that every seller will have access to every buyer, and vice versa.
“Scale that was limited to a few players will now be available to everyone and help in democratising. E-commerce majors are also in conversation with us for onboarding on ONDC. This is not an anti-anyone initiative,” Joshi elaborated.
The democratisation and innovation that will result from ONDC will allow all kinds of players to flourish and “we will need all these multiple models of e-commerce to help achieve the goal of population-scale inclusion,” he stressed.
Union Commerce and Industry Minister Piyush Goyal has announced that ONDC will gradually be expanded to more cities in the near future, as it has the potential to connect the entire farm value chain.
The Centre also envisions ONDC as a private sector-led, non-profit company to bring focus on ethical and responsible behaviour while providing for trust, rigorous norms of governance, accountability, and transparency.
According to Joshi, an IIT Kanpur and IIM Bangalore alumnus, for farmers and farmer producer organisations (FPOs), the UPI-type protocol will enable access to a much wider market.
“Your neighbourhood fruit seller might claim that the Apples he sells are from Himachal, or the litchees are from Muzaffarpur. But you may not have a way of being sure. But on ONDC you may be able to buy directly from an orchard in Himachal or UP and be sure,” Joshi noted.
Farms and orchards can become brands too and realise better pricing than as commodities through a multi-tier trading and distribution system.
“Famers will be able access all buyers across the country through a single registration and not have to register with multiple organisations,” he emphasised.
This network-wide buyer access has other benefits too.
For example, it can help determine the best market prices for his products, say the current prices of Himachal apples in Delhi and Jaipur mandis to help decide what price to quote and which order to accept.
“Such a scale will create providers of various kinds of services — packing, warehousing, shipping which will enable cost efficient market reach. Products need not be shipped to markets anticipating demand and risk expiring in case it does not materialise, it can be warehoused and shipped on demand instead,” Joshi told IANS.
On ONDC, farmers will not only sell but also be able to buy seeds, fertilizers, pesticides, growth regulators, equipment and tools.
The initiative has an agri-focused entity in National Bank for Agriculture and Rural Development (NABARD) as one of its shareholders which has helped it solve technical challenges and engage with several organisations in the agri sector.
According to Joshi, this is not a one-time journey, given the agri sector’s complexity and diversity.
“We expect this to be repeated every few months to keep building and adding to the agri solutions stack. At some stage, the ecosystem itself should kick in and ONDC may not have to facilitate after that,” Joshi elaborated.
Besides this, they are also engaging with state governments to promote adoption of ONDC for agri e-commerce.
“Haryana and Madhya Pradesh governments have begun mobilising support for this and we expect more to follow. Central initiatives like National Agriculture Market (eNAM), which is a pan-India electronic trading portal, is also in active discussion with us on evolving the best way forward,” Joshi informed.
Overall, ONDC will enable lower costs and higher revenues for farmers, enabling more autonomy and benefits for a farmer, said Joshi who has been credited with managing large-scale business operations/strategy in India and China, including Hong Kong, Taiwan and South Asian territories.
Business
Centre sends notice to Ola, Uber over different pricing for iPhone, Android commuters
New Delhi, Jan 23: Leading taxi aggregators Ola and Uber have been served notices by the Department of Consumer Affairs over differential pricing for the Android and iPhone commuters, seeking responses from the online cab-hailing platforms, Union Minister of Consumer Affairs, Pralhad Joshi, said on Thursday.
Minister Joshi said in a post on X social media platform that the Department, through the Central Consumer Protection Authority (CCPA) has issued notices to these cab aggregators.
“As a follow-up to the earlier observation of apparent differential pricing based on different models of mobiles – iPhone/Android – being used, Department of Consumer Affairs, through the CCPA, has issued notices to major cab aggregators Ola and Uber, seeking their responses,” the minister noted.
Uber and Ola have been directed to respond to the notices issued by the Department. In another post, the minister said that after receiving complaints on the National Consumer Helpline (NCH) regarding performance issues in iPhones following the iOS 18+ software update, “the Department, after examining these grievances, has issued a notice to Apple through the CCPA, seeking a response on the matter”.
Last month, Minister Joshi requested the CCPA to carry out a comprehensive inquiry and had warned the affected companies that there would be “zero tolerance for consumer exploitation.” If differential pricing was used, he claimed it was a “blatant disregard” for the rights of customers.
“This, prima facie, looks like unfair trade practice where the cab-aggregators are alleged to be using differential pricing based on the factors mentioned in the article below. If so, this is blatant disregard for consumers’ rights to know,” he posted on X.
The Union Minister also ordered investigations into other industries, like online ticketing apps and food delivery, to determine whether any comparable problems were reported.
Social media was abuzz last month over cab aggregators charging different prices for users, with the prices being higher for people using iPhones to book their services.
Business
Jharkhand to honour Ratan Tata’s legacy with Republic Day tableau
New Delhi, Jan 23: Jharkhand is set to pay tribute to the late iconic industrialist Ratan Tata through its tableau for the Republic Day celebrations, showcasing his enduring contribution to the state and the nation.
The highlight will be Jamshedpur, the city the business leader helped build, famously known as the first ‘steel city’ of India.
Jamshedpur, located in southeastern Jharkhand at the confluence of the Subarnarekha and Kharkai rivers, stands as a symbol of India’s industrial prowess.
Named after Jamsetji Tata, who established a steel plant there in 1911, Jamshedpur has grown to become the state’s largest urban hub and an important industrial and transportation centre.
This year’s tableau, praised for its creative design, emphasises Ratan Tata’s significant role in Jharkhand’s development as it was his visionary initiatives in the 1960s that laid the foundation for the state’s formal establishment in 2000.
The display will present a panoramic view of the industrial units of Jamshedpur, also known as Tata Nagar, and will highlight Jharkhand’s progress while celebrating its cultural richness.
Alongside industrial achievements, the tableau will showcase Jharkhand’s traditional dance forms, handicrafts, and art. Sohrai and Khobar paintings, created by tribal artists, will take centre stage.
Shalini Verma, Deputy Director of the Information & Public Relations Department of Jharkhand, told Media, “This time we have decided to honour Ratan Tata, as he started the industrialisation in Jamshedpur. Along with this, we have shown women empowerment by showcasing how they generate employment by working.”
“We have also focussed on education. Because industrialisation and education, both reflect Viksit Bharat and Viksit Jharkhand,” she added.
These murals, deeply rooted in the state’s tribal heritage, celebrate themes of harvest, fertility, and spirituality, underscoring Jharkhand’s strong connection to nature.
The middle section of the tableau will feature rural women engaged in crafting traditional handicrafts, symbolising the integration of heritage and development.
This element reflects how Jharkhand’s traditions and resources are contributing to the nation’s progress, embodying the theme of “Virasat and Vikas.”
Adding to the tableau’s vibrancy, the UNESCO-recognised Chhau Dance of Saraikela will be performed as part of the ground element. This traditional dance, rooted in mythological themes, will showcase the dynamic cultural heritage of the state.
Having previously highlighted themes like ‘tassar silk’ and the Baba Baidyanath Temple, Jharkhand’s participation in this year’s celebrations will stand out as one of 15 states and Union Territories presenting tableaus in the national Capital.
The tableau is expected to reflect Jharkhand’s unique blend of tradition and progress, making it a captivating centrepiece of the Republic Day celebrations.
It is a fitting tribute to Ratan Tata and the late industrialist-cum-philanthropist’s transformative vision that helped shape the state’s identity and future.
Business
Torres Jewellery Ponzi Scam: Bombay HC Orders Transfer Of All FIRs To EOW, Directs Formation Of SIT
Mumbai: The Bombay High Court on Wednesday directed the transfer of all FIRs related to the Rs 1,000 crore Torres scam to the Economic Offences Wing (EOW) of the Mumbai Police. Four FIRs have been registered across Mumbai and MMR, alleging that the jewellery chain defrauded over 1.25 lakh investors.
A bench of Justices Revati Mohite-Dere and Neela Gokhale instructed EOW Deputy Commissioner of Police Sangramsinh Nishandar, who attended the hearing virtually, to constitute a Special Investigation Team (SIT) for the probe. The SIT will include officers from police stations where the FIRs were originally lodged.
Apart from EOW Mumbai, FIRs were registered by the Thane, Navghar, Mira Bhayandar, and Navi Mumbai police. The Navi Mumbai FIR was earlier transferred to its local EOW branch.
The court was hearing a petition filed by Mumbai-based chartered accountant Abhishek Gupta, 31, who claims to have exposed the scam. Gupta sought police protection, citing threats to his life. The court directed Mumbai Police Commissioner Vivek Phansalkar to provide protection to Gupta until the next hearing, scheduled after eight weeks.
During the hearing, the court criticized the police for their delayed action despite being alerted to irregularities in June 2024. The bench observed, “The police need to be alive to what is happening and act promptly to ensure the common man does not lose their hard-earned money.”
The scam involved cheating investors through a combination of Ponzi and multi-level marketing (MLM) schemes. The EOW has so far arrested three individuals, including two foreign nationals. Public Prosecutor Hiten Venegaonkar informed the court that of the 12 accused, eight — seven Ukrainians and one Indian — fled the country before December 30, 2024. He assured the court that their locations are now known and action will be taken.
Venegaonkar also revealed that the Navi Mumbai EOW had been secretly investigating the case since October 2024, after realizing the scale of the fraud. “They quietly collected information and summoned individuals linked to Torres’ showrooms. The hue and cry started after the payments stopped in the last week of December. That’s when the Ukranians fled the country,” he said.
The court, however, emphasised the lack of urgency shown by the police. “Somewhere there has been dereliction of duty. Nobody has acted with alacrity,” the bench remarked. It also urged the police to develop mechanisms to prevent similar scams in the future, stating, “Now you know their modus operandi. Police need to be alive to what is happening and take prompt action so that people do not lose their money. Or there can be some mechanism in the future,” it added.
Responding to a court query, Nishandar requested eight weeks to show progress in the case.
Gupta, who audited the accounts of Platinum Hern Pvt Ltd, Torres’ parent company, claimed to be a vulnerable witness at risk of being targeted by the scam’s perpetrators. He alleged that the company’s directors—Sarvesh Surve and Taufiq Riaz (alias John Carter)—and an employee, Laxmi Yadav, had warned the police about the scam as early as June 2024. However, the authorities only took cognizance on January 2, 2025.
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