ONDC

Let's try to imagine our world today without UPI in it or let's imagine without Adar in it but poweri GST rocket ship guest he's a seasoned Finance professional he's worked with companies like zato ITC Etc but is now part of onc something which is a initiative by government of India and it's like so Powerful to imagine he's going to share his own insights about what onc going to create for India in next couple of years how onc will be another road map for India's growth story especially so let's welcome our guest today hey an welcome

on the show thanks thanks anit for having me on your show today and uh very powerful introduction for myself uh I also did not realize you know that brings so much of vitage to my profile uh thanks thanks for having me Here and I'm I'll make all my attempts to make this a meaningful discussion for you and your audience uh let's let's hope for the best absolutely at least you know Anan what you're trying to build what you're part of is something so powerful something which I fundamentally believe going to change how India do Commerce

and it's like so refreshing to hear you know insights today from you I I would love to have you know a round of discussion with you And I I'm sure you know our guest who's really interested in understanding ecommer absolutely so onc is going to be the next UPI mement of India and that's what we say thats Wow Wow Let's Start thank you one of our investor was founder of uh busy accounting uh busy is a competition to us busy Mark and uh how about he investing into align books now he can he can can

have a discussion With him he's invested after that yeah very seasoned Guy and because he he has built busy and it's a very respectable software in fact when this busy deal of India was happening align books was also one of the target company and we were discussing in depth they were offering us some 50 cross we said no we have very strong conviction we as for 200 came up to 75 it it he's also very closely connect that's what he invested upon he said actually conversational Commerce this is powerful so in fact in even onc

I'm seeing that there are lot of SAS based player who who can have a very meaningful play on the network and I believe out of everybody in this cohort the SAS based player is best place to leverage onc Interesting we are democratizing digital Commerce and we you know making it interoperable we are unbundling the buy side and the sell side primarily my personal belief is that democratizing seller side is easy right because uh many softwares will be there around 100 200 softwares may eventually be there maybe more than that any seller may want to join

through anybody right I mean Market concentrated sh buyer side I still believe personally that there may Be some concentration because the the the buyer side will become successful only when they have high number of downloads right and that require very good amount of money downlo dri that's a different animal Al together absolutely now what happens with this SAS based players there is a very unique opportunity on both the sides on the buy side they are very well placed to be a buyer application reason being to do the core accounting many Players many customers are already

logging into that application daily absolutely now when these baring players like T when these SAS account SAS based cloud-based accounting modules are coming they are not restricted only to accounting what they do is that they enable many more modules around payroll management HR management the customer base increases for example align books today have got around one lakh customer base oh wow one lakh and Only 10,000 Enterprise I would effectively I would have sold 10,000 Enterprise license but one lakh unique customers potential customers of a digital Commerce are coming online some are coming only to mark

their attendance some are coming only to raise voucher some are coming only to approve certain vouchers a cxo is coming only to approve a voucher right so what happens that value proposition to them is that one lakh customers are coming on your Application why can't you offer them opportunity to do a digital transaction attendance emplo can you give them an option to book a ride through your application absolutely absolutely yes I will come to that so one use case which I said that how about booking a cab how about booking a buying your food online

on that same application when you're already there being on the Application use that to the best you can right objective see ultimately who will win in an open network concept on the buyer side I say somebody who ultimately there will have to be couple of super application and who will be super superation and H a digital Commerce right and hence I believe somebody who will be the Super application will eventually win and who will be the Super application somebody whose UI ux is very neat and clean right and the downloads Will have to happen now

that opens two more windows download players like WhatsApp or Tik Tok or say Instagram or say Facebook right because people are addicted and hence it'll be very interesting to see how world moves that people use professional applications to do their personal Journey or they use personal application to do a professional Journey true that's also Interesting aspect and hence I I am very curious to see around 200 say maybe two years down the line WhatsApp as a buyer application WhatsApp I don't think meta will ever enter uh as a buyer application because that's not their company's

EOS but they are ultimately a platform to a buyer application meta will act like a bridge meta WhatsApp conversation ini absolutely and and hence I said s democrati lot of applications will come Absolutely yeah and Second Use case which these players uh SAS based players can actually perform and again there are lot of I mean there are millions of SAS based player right everybody is a SAS company now right now who will which kind of SAS player will be a winner in the market somebody whose text tack is good right now what align books is

also exploring is that once I integrate on onc I already know what is a tech Journey can I guide others if tally Doesn't want to come on onc are we saying that customer base who are still loyal to tally who still doesn't want to come on oine books they they take any position I will not come on online book for any reason I will not leave tally say for that interesting will they not get exposed to onc ever just because tally chose I don't want to come onc use interesting how do I solve for that

so what there are lot of solutions being Explored that can I do a SDK or a tech micro app kind of or micro weiting for that for these kind of players who are on tally but don't want to come on online books wherein through a simple plug-in I can extract basic requirement basic data of tally create a catalog and then expose it to the network interesting so they become a automated seller application that's a play that's definitely a play and you can monetize That absolutely absolutely transaction lot of audience would not know what onc is

they might have heard about it but not really got exposed to it so far you know a lot of news coverages has happened but if I ask you to explain from a you know end user perspective what is onc I believe user has a inherent perception that onc is a super app or it's an application in itself it's a competition to existing E-commerce players and government is competing against them uh all these are myth conceptually absolutely wrong onc is none of this if you go on play store or I Google Play store or you go

on Apple Store and you type for onc you will get nothing you get error four not four error nothing is found if you go on onc's website and you want to do a transaction you will not be able to do a transaction so what is onc onc is simply put a set of 14 to 15 apis H right what Does these apis do they sit on the core Tech layer of any application existing e-commerce platform application okay so that h this application a for example if is integrated on onc through this set of common apis

which we have built on the bin protocol and some other application who is also onc protocol compliant they both can communicate to each other freely and a transaction can happen What happens in a platform Centric approach that today's Existing e-commerce platform Centric approach the the buyer and the seller both needs to be on the same platform if I have to buy a Levi denim on Amazon the seller of Levi denim the buyer of leevi denim me as a customer both needs to be on the same platform right I cannot sit on Amazon and buy an

inventory from Flipkart now what happens that if an if both Amazon and flipcart are onc protocol compliant I can be on Amazon I Need not go on Flipkart I can still buy those inventory interesting right imagine this with me that how this flow exactly works we have a buyer then on top of a buyer we have a buyer application so there will be lot of buyer application who will be uh concentrating or you know accumulating lot of buyers then there's something called onc protocol when a buyer uses the buyer application to search for a product

that Search gets related to onc Gateway and registry right first the search goes on onc registry checks which seller application is having a list of seller who is supplying this particular product which a buyer has chosen all the seller may not have all the product all the seller application may not have enabled all the domains right so the registry first checks whether a seller application who's already registered Within Me is or Has enable this particular domain or not if yes the search goes to onc Gateway through that Gateway whatever seller say set of say five

to six seller application would have got say that these six seller application are conversing or you know supplying Goods which the buyer has asked for the search gets related to all the six seller application on a realtime basis okay right these seller application then inter relay days the search request to All the sellers who are enabled on them so one seller can join the network through any of the seller application the moment he comes on network through any one seller application every buyer of onc irrespective of the buyer application is able to visual view that

inventory of that particular seller interesting right now spending a little more time on this now a buyer say I want to buy a pizza I go on Ola I type I want a pizza Right this result the search request will go on onc registry and then to Gateway through Gateway Suppose there are seven seller application just to take some examples of sell application who are already enabled on onc say magic pin gugal my store snap deal these are some of the players who are onc protocol compliant sure of this or say one I'll take one

more example say U engage out of all these name which I have taken magic pin and U engage for example have Enabled food and beverages as a domain okay now this uh onc Gateway relays the request to Magic pin and go Frugal that anani in say G wants to buy a Domino's cheese bus pizza do you want to supply maybe Domino's would have joined onc say through magic pin or say through gugal logically won't join from both the application but he's still free to join now the moment uh Domino's joins so go Frugal and says

he hey I want to Participate in this deal there a reverse communication starts happening okay the seller delays the response to seller application that I want to participate in this deal seller application gives it back to the gateway gateway gives it back to the buyer application and it appears on the interface that there is a gugal as a seller application Domino's is a seller he's ready to supply you cheese bus Pizza in say x time and in X at X price now you as a buyer are free To choose whether you want to buy this

or not interesting comp lot of audience might take time to absorb this huh so uh step what ISC let's go back to the original question let's complete that flow SOC is nothing but a set of apis which is missioned to increase discoverability on both the sides for the buyer as well as seller onc fundamental objective sellers More and more visibility to sell their product on the buyer side the objective is that buyer gets access to more number of supply and more number of Assortment what happens in a platform Centric approach is that the supply is

limited today 90% of business houses in India are msme while absolutely the penetration on the digital Commerce is less than 5% that means majority of the MSM have still not been able to or majority of The business houses in India have still not been able to capitalize on the benefits of digital Commerce interesting why that happens because the platform Centric approach has got an inherent uh tendency or inherent mandate to control the supply so they will have preferred sellers got it uh they will and even those preferred sellers are even if a seller is not

preferred uh the existing sellers will have to uh pay very high Margins or agree to a one-sided terms and condition now lot of players are unable to match this and hence they step out they now imagine a pahar gan May if somebody selling a s if you ask him to give 30 % commission he can't afford that he doesn't make that margin in the value chain on top of that you mandate him that if a customer returns within 30 days you will have to take that product now we know that in in India fashion industry

in digital commer is have Actually become a changing room people buy the product people use it for one or two day go to a party and they will return it back now what will that parun s do what if he doesn't want to take back the return mean the application will not allow him that option to not take that return back because these people are selling their product on the basis of return policies so onc is democratizing this and trying to break this rent seeking tendency Interesting we are saying any seller can join onc and

we will help you do the demand generation the network will do the demand generation for you so what is again ondc a set of common apis which is unbundling various components of digital Commerce and making it inter operable onc also Fosters in deep Innovation because ultimately when the democratization happen the competition will become even more intense people may Not have Mo in their individual businesses at the same time it also Fosters every business houses to go deeper and do and be excelling in the area where they are expert for example is Amazon the best logistic

service provided in the world Maybe not maybe yes maybe not but I believe dtdc will always have Edge or say India post will always have an edge because their supply and their penetration or their geographical spread would be much much Higher right we say that why should Amazon worry about uh say Flipkart or any buyer or application should worry about logistics at all leave it to them if you are good at doing demand generation just focus on that if a application is very good at bringing Supply on board or solving cataloging as a problem statement

just do that somebody else will take care of that today what happens that if I have to go into E-commerce as an individual if I want to launch my company I'll have to solve for all the bits I have to s for solve for search engine I'll have to solve for cataloging as a service I'll have to solve for Supply Chain management everything I have to solve I can't do that I don't have so so much of Capital nor do I have an expertise and why should I solve for a problem which somebody has already

solved why not use a community based Approach that is absolutely so sellers sellers sellers buyers buyer absolutely as a seller Without Really registering in every app absolutely you don't need to register to any of the Buy app manufactur you know absolutely soat closed wall Garden ecosystem you need to go and register with every application and agree to their individual terms and condition Interes the power of deciding terms and condition is not with you in a platform Centric approach m in a onc environment what happens seller can get registered with onc Network through any of the

seller application today we have got around 70 seller application already live on the network operating in 11 domains right so you can join through any of the seller application interes the question will be how do you identify onc seller And contact you can simply pick up your phone call that person he will help you do the journey there's a sahayak a WhatsApp chat bot where you just type a high and that will take care of your journey whether you have to register you have to not register I will take one more example on this let's

keep that aside for a minute now when the seller joins onc through one of the seller application he is free to decide his Terms and condition on at a trans transaction level not even at a application Level asms andg complete right you go to say for that matter maybe 45 days return 30% margin everything right so your terms and condition are at a platform level yep yep in a onc network based approach you can decide at a transaction level that means if I'm Selling a product to say Ram in G I will decide a term

for that particular transaction only I can decide commission while commiss charge interesting so that's called transaction level contract oh wow that will that also brings to me to me a very important question that network but buyer application terms and condition what will he have to go and negotiate margin with each of them That's not possible because onc eventually will bring millions of uh buyer application and millions of seller application and billions of sellers so how will this exactly work scalable model and if a seller has to interact with every buyer application ultimately then he has

no motivation to come on the network and will he have access to larger players a small customer individual padan customer have to deal with say Reliance find app he will not Even get access to reliance's office right and pretty obvious they will not want to deal with a very small scale Y and hence comes a concept New Concept called TLC transaction level contract how does that work when a buyer taking my original example of Domino's piz when a buyer goes to Ola as a buyer application and searches I want to buy a pizza Ola makes

a packet of information which says Rahul in goodgo wants to buy a cheese burst Domino's Pizza for this as a buyer application I will charge 2% commission H this information gets stored into a package and then goes to a onc Gateway margin fix now onc Gateway passes on this packet to all the seller application that there is a person in good called Rahul who wants to buy a pizza for which Ola wants 2% margin do you want to participate in this deal do you you have inventory and do you want To participate in this deal

now seller application adds one more information to the same packet that I want to add my margin at say 5% because seller application also want to earn money right so in the same packet he will add his part of the information that I want to add ear 5% margin now that information package contains Rahul in good wants to buy a pizza for which Ola will charge 2% margin one seller application say go Frugal or say you Engage for that matter will charge 5% margin and this packet will now get communicated to all the sellers on

the network right now interes seller can decide if that if this transaction makes commercial sense to him if there's a price parp seller network has some six lakh sellers today h i will participate in this deal ah and then this packet goes back as I explained earlier interesting Interesting the question which you asked that seller coming back to that seller can join Network through any of the seller applications some 70 seller applications are already live on the network and a lot of them are in pipeline in various domains M and he has the power to

decide the terms and condition which he wants M seller can also do the reverse he can give a static instruction to the network okay that for every deal I am ready to give only 5% margin okay seller application this 5% will get distributed between buyer application and seller application if somebody wants more margin collect it from customer a for example I am giving 5% margin but the buyer application wants say more money he's free to charge platform fees or any form of incremental fees from the buyer and if buyer wants to participate in this deal

it is his Choice no problem Commerce price disparity always what happens or what we have seen traditionally that margin in a platform Centric approach which I always call is rent seeking tendency is already so high that in a network based approach when everybody have nobody has got a vested interest in a common pool margin naturally dilute in a food industry I have worked with zato for some time I have seen that Industry food ecosystem industry charges somewhere around 20 to 22% margin while in a network we are seeing this margin reduced to 8% only 2%

of buyer application is charging 5 % of seller application is charging and they giving these average numbers I mean these will vary from transaction to transaction to% Delta everybody is milking this the seller is retaining certain margin some He recouping it back to the industry or by giving discount to the customer sure seller gets benefited because he has more margins now because he's not required to give 20% margin he's required to give only 7% margin plus some bit of discount which Direct Customer access custom interesting that's the value proposition which onc as a network brings

interesting why should a buyer or A seller come on the network at all uh what is the value proposition for them y y That's the value proposer absolutely that's what my managing director Mr T Koshi always says he says two favorite statement right and I think he tells this to me everyday in office anything which is cataloga and Digi has a play on second onc is the next UPI movement of India when UPI came I believe it took almost 6 years for them to Fly the concept got set the processes got ultimately that breakthrough happened

around four 5 to 6 years later yep adhar took 10 years yep yep UPI took six years uh onc will not take more than two to three years wow right onc will be the next UPI movement of India and it will democratize Commerce not only in India but in the world UPI has already started crossing boundaries Beyond India you can book a you can pay for uh your ticket to Eiffel Tower by scanning a QR Code in Indian rupees Dubai may you can now use a QR code yep ondc is also going to be Beyond

India wow how far are we very very near you would be amazed to know that we have already done we have already set up the funnel with Singapore Singapore being a buyer and India being a seller wow so now sitting in Singapore using Pro as a buyer application it's a native application of Singapore okay using Pro as a buyer application you can buy goods from India amazing what is the Benefit it will just explode the digital Commerce economy today digital Commerce economy to my estimate is around 70 billion with the Advent and success of onc

we will unlock next 10000 billion in three years so e-commerce economy will become 170% 17 billion wow now with exports scaling up what is the benefit the sellers of India will have buyers across today they struggle yeah demand of Indian Artisan product or uh uh uh the social sector of India CH Artisians who make very beautiful pots and potteries and Etc they will have more buyers and India excels in handicraft products right we will be uplifting livelihood of so many people yep and also Imagine that what larger the potential of larger impact it can have

on the macroeconomics our export deficit can come down significantly with this interesting interesting this you know your every statement is bringing me to so many Questions this is like so powerful and so intriguing at the same time and I I'll just keep on probably asking more U see one as a as a consumer as a end useres important you know I remember yes atast democratize not squeeze is the right word I think democratize is the right correct I think margin would be correct correct today's margin structure Is incorrect and I'm sentimental about that absolutely actually

UPI M absolutely side Journey the seller side Journey the logistics journey and the payments Journey government nobody that's my personal opinion I believe seamless nobody imaged in a cash transaction driven economy of India 60% of transaction will be digital nobody ever imagined That now government has three more pillars to solve onc is the route now when in very short time when onc becomes a success and this natural marriage when we plug both the puzzles of onc plus UPI the world will be very very different absolutely absolutely Merchants still you know is able to make better

margins discount better etc etc would happen opportuni because lot of small merant would be able to get on the Platform platform dependent consumer conect and like hundreds thousands millions people probed there yes the consumer or the customer will have access to more and more products and assortment interesting today if I have to buy say let's take kji sari right today if I have to buy a kiamari I do not know where do I go and buy I am left at the disposal of existing three or four uh bu three or four applications or platform who

deal In fashion India is an oligo poly Market today whether you take uh ride healing only three applications broadly two of them control majority of the market food is a completely Dooly Market only two players controlling the entire food delivery ecosystem fashion again two or three players control 95% 96% of the ecosystem I am dependent on them can a kanjam sari Weaver come on digital Commerce and transact at his wills and whims and fames yes Interesting so I can sit in Kolkata buy a kiamari digitally is it possible today we will have to check whether

a Kiam sari inventory is available only in these three platforms or not and also lot of time as a consumer I Fe I I I feel that or probably face that often that I'm probably at disposable of the platform that what kji is going to show to me absolutely you know you know and generally these sellers would be probably prioritizing these platforms Would be prior in more of margins on their quity ET because they have to uh maximize the interest of their personal stakeholders inv profitability fast TR all these platform have a mission to Fast

Track their path to profitability today everybody is burning humongously onc as a central orchestrator has no vested interest I have preference for nobody I am just an Enabler I don't want to earn money who am I I am a Section 8 company under dpat I'm a not for-profit organization I don't have any intention to earn money at all right interesting so I'm a government service a public utility service SE from that lens people I think people would be able to understand it's like AAR UPI and then you have you know thec in the next rank

demographic profile willar ever monetize that no Ifar has to okay let me put it this way Adar will monetize or is act or may actually be currently monetizing that's an assumption h I'm taking but for what they are monetizing or they would want to monetize only to cover their administrative cost and be self- sustainable and not be a burden on government or on taxpayers money from whom will they charge somebody who is uh using their database in a regularized and an authentic in a legal way for Example Banks they need to do kyc so Banks

pay for that cost onc will also will onc be free forever absolutely no let me be very vocal about that the objective of onc at this stage is not to charge any money to anybody because we are setting the context we are making the concept more visible to everybody you're making the platform protocol available to everybody yes we are solving for the Problem first onc may come up with a commercial model when I do not know in what form I do not know but I know about one thing very clearly objective will be only to

cover the administrative cost which onc is incurring today and be self- sustainable so that we do not rely on government support or somebody external support to run our business our day-to-day operation what would be the extent of day-to-day operation or the cost of day-to-day operation very very Negligible uh structurally we are a very lean company of say 100 120 people we do not need more people because we do not run the operation so we will never have a very heavy uh operation team or employee base uh I do not need a fancy office because I

don't have people to sit in those offices it's an autopilot mode yep so my cost is very very restricted to very few salary cost and my day-to-day office expenditure around staff welfare and office rental Yeah actually I've been to your office so I what I felt now at onc office it's not the the energy The Vibes wasn't like I mean to be truthful like a sari office you know and the the extra you know or the lavishness wasn't there you know it was really really like a startup maybe or that energy with a with a

systematic approach that's what I felt you know when it onc office we are a startup we are not a sari organization At All by the way let me put you this put it share One very interesting information I don't have anything for any political party I'm very very neutral with any of the political parties of India but I believe there has been a major shift and I would love to be a sarari office now because due to being associated withc and dpit being our uh promoter we often go to dpit office which comes Under Ministry

of Commerce anit let me tell you and I have seen how life Works in a legacy organization which is 110 year old organization and a very hyper fastpaced digital Commerce ecosystem where every everybody's on toes everybody's on fire right I've seen those two lives very very closely firsthand experience I also have a firsthand experience of operating into dpit office now a if you ask me which one is the most agile and best I Would say a sarari office oh wow today a secretary CER gentleman is working till 11:00 p.m. on the uh every day oh

in a sari office and that's more professional more value driven more output oriented than any of the business houses in India the concept have changed completely they have got one there it's a good sign I'm saying this is in a positive sense that the pressure for them to deliver is even more because they are answerable to Citizens of India while the corporate houses are answerable only to customers of India that's a very big difference between a citizen and a yep yep and I think that reflects in the initiatives the that's been driven in last many

years I think one of the fundamental uh chains that India has brought in which include also onc you know there's a massive Focus around building this digital infrastructure absolutely you know all the GST UPI Adar we spoke about Are part of that and seems like such a such a deep enabler I mean whatc can bring us I mean this is like really unimaginable right now this is like mind boggling my wife always asked me so I always tell my wife uh that given an opportunity and if I had a super power if I had a

time machine I would want to go and see what's happening in 2030 I don't want to live in 2024 25 at all I'm just impatient to see what's Happening in 2030 uh because Commerce change absolutely absolutely the the Advent of Digit digitization automation layering it with AI ml yeah layering that with Gen AI n ml I mean I just can't imagine I don't have words to put into that m absolutely absolutely but you know I'm able to see all the benefits that's going to come with it but where did it all start it from what

was the initial problem that onc was Trying to solve see the birth of onc happened during covid times H if we recall during that Black Swan even entire supply chain globally had come to a halt y right there were Goods with the people h i mean to say Supply was there with the supplier demand was there with the buyer but nobody was able to communicate to each other the centralized supply chain System of India had completely collapsed you if you imagine if I have to buy a packet of an ashad Anta of ITC and will

that get transported from say uluberia or say coimbator which is the central warehouse of ITC and get connected to me directly at my house during covid that was not possible at all infrastructure everything was there but restrictions made it uh completely geop partied That the the task at H at hand of government of India was how do I Supply Essentials to the customer M and keep the economy as well as livelihood both moving because we could not have just left economy the country would have collapsed at the same time livelihoods we realized the local supply

chain will have to function the centralized can't function right there are too many Restrictions on movement now how do I contact my kirana store and tell him I want an ATA how do I know or how how do a local kirana store say that hey you want an ATA do I know that I do not I have an ATA do you know that no you do not this conversation was broken and hence we said in a larger interest of public that how do I enable local suppliers then we realize the local Suppliers are not there

on digital Commerce they do not have a digital catalog they do not know how to operate on digital Commerce they're not trained to operate on a digital Commerce that opened up probably that opened up eye of many people in the ministry that something is completely broken wow e-commerce is happening but the is it happening at the right scale absolutely maybe not because Supply the 90% of msmes and Smaller sellers they are still not enabled on digital Commerce and hence this idea of democratizing digital Commerce came that can I bring every seller of India on e-commerce

that's a mission of India IND wow absolutely this is this is so powerful what has been the journey so far that was you explained so we what I was not there in the company Then but what I'm told by my existing teammates and that gives me goosebumps a very very interesting story they say that within one and a half years onc was first with qci the quality control of India Central body they start germinated the idea and the white boarding was done in their office Mr tampi Koshi who is a stalwart when it comes to

digitizing India he's the man who made nsdl he digitize the Entire depository of India uh Mr nitin Mishra who's the current CTO of onc he was a chief architecture of uh GST wow right Mr Nandan nikan who's the chairman of Advisory Board of onc is known as CTO of India yeah yeah these set of very very learned and very very senior people probably sat down and did the first level of whiteboarding that how how do we solve this right M uh many options were there we could have introduced law in India right but what would

happen Then our uh our court rooms be would be flooded with even more cases yesterday I was reading somewhere that today high courts have got 80,000 cases pending which is 30-y old right onc law around Commerce would just add on few thousands there right uh The Westerns and the Americans have already taken an approach of introducing digital laws basic various laws to control this monopolistic or oligopolistic market India could have also easily done that China took a dictatorship position right India could have taken a dictatorship position however this set of people realized that this may

not be a scalable and a sustainable model and hence introducing law may not be right it may not actually be an ethical model also why should government of India control how a business would happen in India government of India is supposed to be an enabler rather than a controller so we have to enable business Rather than control or restrict business law fundamentally my opinion laws are restricting things it never enable things so law controls or restrict malpractices how do we what's happening in digital Commerce today is absolutely not malpractice or something illegal so there's no

of law already enough laws around digital Commerce why to add one more layer right and hence we decided or we came up with an idea that technology is a solution to that and India already Had two or three very successful uh output in digital technology L solution which is around Adar UPI fast tag very very successful yeah and it give lot of confidence technology and permanently solve not only for India but for world right let's solve it for globe all together did we write any astronomical firsthand code or something magic was done no onc has

not used any fancy or Something astronomical or very very complex codes at all what we have leveraged or used is something which was existing even before I was born open data open Network right entire internet is built on open network HTTP is nothing but an open network UPI is nothing but an open network yep uh SMS is nothing but an open network email imps is nothing but an open network today you can send an email from any application to any application without Worrying about anything y do you worry about customer experience at all no yeah

do you worry about liabilities no uh so o is nothing but similar to that o is HTTP of digital Commerce it's a UPI of Commerce right and hence we said that let's leverage open source codes to build and utilize the same platform to build something common got it man my managing director Mr Koshi also says something very interesting that onc is nothing but the club owner okay how this Works so we are nothing we we are nobody and we will not control Commerce at all we are just the club owner right we invite everybody entry

to this club is on invitation it's at this stage it is not free flow because the hygiene of the club needs to be maintained so I will I am the club owner I will only set the basic fundamental guard R guard rails on how you can participate in this club okay but I will not put any restriction on potential of you in enjoying in this Club it's left to your Innovation how you want to enjoy the most in this club right I will just provide you a common room where buyer and seller can come together

and do whatever you want it's up to your Innovation how you can maximize or extract most out of each other we will never control Commerce interesting interesting and now talking about that aspect of it you know controlling or not controlling one of the key value you know lot of existing Platform you know uh existing application systems provide is a you know trust in terms of whom you're dealing with Etc and you said you know transaction level price negotiation contract possible but at the same time know government is Apex today someting that H onc is an

orchestrator it is not that we have just made a protocol and we have exited the room a we are still orchestrating that There's a team who continuously monitors the performance and the health of transaction which is happening on the we do not collect any price sensitive or business confidential informations at all but we also collect at an aggregated level what is the level of or what is the quality of transaction which is happening right I would not know that identity of the person who has brought the product I would not know identity of the product

which has been sold I would Not know that value at which this transaction is happening I I don't need to know what will I do by knowing the value of the transaction but I know somebody called person X has purchased a product Y which was delivered in X period and uh and X many time the delivery has failed or X many time the complaints those information I have and we work with all the network participant in a collaborative way to solve for the gaps Today the Fulfillment information is stored in a silo with all the

platforms okay no knows what is an industry Benchmark I mean some consultant gives a industry Benchmark by doing some telec calling I do not trust on that what is authenticity of that data nobody gives their accurate data ever if you ask me zato and some analyst call Z they'll give you some indicative range the benefit is that in a network we Accumulate all the data at an aggregated level without losing out any identity a and then we know that which ecosystem participant is performing how and and we give them a value addition service that in

in your industry your peers are performing at this level you are at this level why don't you improve your things better and we also go down dirty our hands and solve for them we help them diagnose what's the problem and all these data are already made public you Go to onc website there's something called onc Data you click on that all this information which I'm talking about is already made public to everybody interes we don't want to store any data or hide anything today you can go and see how many transactions are happening in n

DC in which geography uh in which cohort at a district level from where the supply is coming where the supply is going everything is visible and made public interesting do you know tomato Fart nobody knows onc is being transparent interesting because we want people to use this analytical dashboard to make their business today the sophisticated dashboards are restricted only to very large players who have got Capital to invest and do data analysis we are doing it for msmes we know msme can never make a complex dashboard which can solve for them amazing right amazing so

it's not just Network it's also the data it's also the analytics you know Insights which is actually made public with this platform so that msmes can grow their business we will do so let me put it this way onc will do everything required to ensure that MSM is of India grows wow so this is so powerful because you know my first perception I did not know about this part of it I thought you know you're enabling by making it an open network but at the same time you're enabling also at a different layers you know

it's not just one layer which is a Network where you're connecting everybody it's also the layer where you're giving me insights as a msme and I'm able to use that insight to really understand so absolutely and uh when we see this data and and whenever I go to any client meeting I always get asked this question that who will own the customer experience uh what is a trust on the network couple of points when we see data in a Commerce fulfillment there may Be lot of metrics but I think some of the key metrics are

tat the on time in full and time taken to deliver the product right we have seen that we are benchmarked to Industry in most of the cases wow right uh in food ecosystem we are better than the industry platforms who have still not joined the network in terms of time to deliver interesting our average time to deliver uh food on onc network is between 34 to 35 minutes wow in Bangalore recently uh that's an independent report done by uh Economic Times in Bangalore onc has already captured 20% market share in food delivery 20% market share

of already done yes and Bangalore is the top contributing Market to India in the food delivery ecosystem amazing and we have done this in two months of launching Bangalore amazing why this is happening are we doing something different no people are finding value Proposition the experience is up to the Mark I I am not saying I don't have Headroom to improve I have huge Headroom to improve even in operational metrics but people are satisfied if I'm able to if I were to take an example if I'm already delivering at 98% operational metrics and a platform

is delivering at 99% the price for that incremental 1% is huge absolutely is a customer willing to pay the premium is a question we need to Ask India absolutely and that helps us gain the market share that that's how the trust of the network is demonstrated by the data I I'm not saying anything that's a data saying second we also realize that we are responsible to what's happening on the network ultimately we are The Gatekeepers and the orchestrator a lot of solutions are being done to ensure that there is no Fraud happening on the network

and the quality of the seller and the buyer are very genuine got it two things one is IGM issue and gravance management okay this is one of the mandatory API which is already built in onc and every participant who joins onc has to mandator enable this IGM API what does this mean this is basically an integration and seamless conversation of all the uh complaint that gets raised on A application when a buyer buys a product he will have to go and raise the complaint on the buyer application only because for him he is buying from

AA he would not know who's the seller application behind that but is Ola solving for the problem even in today's world no they are not they are also passing on the information to the end seller yep so with this API all this conversation around Complaint two and four happens seamlessly and giving you industry benchmarked experience around that coming to the liability front that who Bears the loss if something goes wrong that's made available on our website today that onc will help you solve for the problem if not we will fund it we will pay for

the losses if nobody is solving for it experience is not a problem at all that huh and if you go on our website and if you are still Agitated with the service you can log a complaint directly to oncc will ensure that the complain is solved interesting so we are not shying away from solving for customer liability or experience at all we know the Commerce will be successful only when the customer is happy yeah so we will do everything that is required to ensure customer redressal is seamless right so let me ask a very naive

question you know let's assume I'm A consumer who's buying from a buyer app on a onc network I bought a you know say a good which was sold by some seller in uh Bangalore and you know I eventually never received the good yeah which happens on e-commerce PL from many of the time who would I reach out to to complain you will go to the buyer application you will log a complaint that will get relayed to the seller through seller application and onc Gateway seamlessly because an API is Already integrated think from a point of

view that in this transaction who could be at fault the seller who may not have parceled the goods the seller application or or I would say the logistics service provider who received the good but did not deliver it to you who owns the logistics the seller application because he's controlling who will be the logistics service provider does buyer application has any role in This absolutely not yeah he is no no visible and he's not touching the ecosystem at all he's just an enabler why should buyer application have any liability at all absolutely so Network absorbs

buyer application from this liability completely at the end onc is responsible because some fraud goes happens or something goes wrong we as a government will take care of this buyer at the day end so the first level of liability or To fulfill the liability is with the seller m if a seller fails to fulfill the liability seller application will have to make good for it because he onboarded that seller got if a fraudster is there on in his house he will have to be accountable at the day end I am still there interesting so there

are layers of you know Guardian there which actually would protect my interest as a consumer and we also ensure through enough guard rails that nobody's exploited it is not That seller can simply escape with the no ultimately seller application will have to beer so I will not do anything let him beer no he will not be able to do that and because there are enough guard rails and metrics which have been set who is responsible for what kind of mistake a proper RCA will be done that why did the goods not get delivered whoever is

it is very easy to find out who is at fault right it's not that Complex it is complex I'm not denying that it's not that it's a solvable issue uh especially in the digital world you know we all have data where where things are missing there's are audit Trail uh and I I believe that all these are a very very short-term problem anit these are not a long-term problem why because at the end there's something called social audit which is there on onc network ultimately there's a seller rating which is stored on onc network Forever

yeah irrespective you if you leave a seller application a and join through seller application B your rating of seller application is still with the network network will Aggregate and show to the buyer application what is the seller of rating of this seller got it today if you fo up in application a you can simply exit and go in application B and still sell your product and do frauds there in a network based approach you will not be able to do that so the Social audit score is powerful enough to throw a fraudster out of the

business interesting so that's a very very shortterm timing issue nothing more than that got it and I think it it might be just very very rare hiccups that might come up but it'll be very rare because if that there's a you know trail of everything and you know uh there's a clear penalization defined and you know clear long-term U social credits kind of system defined it will not let any Scamsters come into the network in the first place in a platform Centric approach it is still possible to some extent because everything is happening in closed

door and silos ah in know open world you can't do anything absolutely can you do a fraud in a garden you can't you can do AA fraud in a small house you can't do it in a garden and this a very important aspect to it as well you know so often now uh when in a other systems you know say other e-commerce or Marketplaces what happens is the platform's focus is still on earning Revenue so he might not blacklist somebody who's giving him Revenue even we never can trust yeah y because you are the guardian

who have no vested interest apart from enabling msme this is going to be very naturally powerful yeah which is so deep insightful I think so well thought about I mean these many aspect of it is so well thought about so an E-commerce already India May digital Commerce I believe is around my estimate is around $70 billion currently in India a and uh by 2030 we expect that it should reach to around1 billion oh and uh incremental 100 billion and this is what I think onc will have the most important real role to play open this

up economy open this economy up orc you know transactions already what Is the expectation in next two three years of time any guesses on the numbers I would probably say you know few thousands every day maybe yeah so uh we we we were doing few thousands uh transaction almost half year one and a half year back right so uh in January 2023 when started our journey uh we did th transactions total in the month of January 2023 okay uh last month we closed at 12.5 million transactions 12.5 million transactions yeah and uh we Started with

just two domains the most difficult ones that is the food and the mobility Mobility basically is around ride healing Services uh complexity and that those two are the most challenging uh domains to start with for a couple of Reason one they were highly penetrated from a digital Commerce standpoint of few larger players have already cracked the Playbook there and we chose to uh you know solve for that the most complex one first uh also uh food brings a Natural complexity around hyperlocal Logistics very very complex to solve for and we were of the belief that

if we can solve these two then will be very easy to do uh my sense says that we have cracked the Playbook there uh today we are operating in 11 domains and many more are already in the pipeline uh agriculture domain is something very close to heart for to me and today the digitization in agriculture domain is less than 1% and we believe that onc is The route through which uh these people can the farmers and the fpos can actually come on digital Network a lot of private players have tried digitizing agriculture ecosystem but they

have failed for some reason or the other but at onc we are confident because we are approaching the problem in a very different way and solving at the grassroot level and uh once we digitize agre ecosystem Uh it will benefit many many players and truly uplift the livelihood of farmers who will be able to earn more they will be able to charge the right price discover the right price for their producers and they will not have to dump the Surplus stock because they do not write the one real big problem today Farmers actually dump the

a sad scene always to see either they do not have the right Warehouse or they do not command the right price and they are Left with no they are unable to find the buyer and hence left with no other choice than to dump it onc will solve for all these today a farmer will be able to uh secure Warehouse on onc network they will not have to go and Scout for it it'll be available to time digitally uh right and also I am also very very uh positive about uh one more very interesting domain which

is financial services uh wherein we are trying to stize and democratize uh Insurance mutual fund personal loans right working capital working credit Capital line right working Capital credit lines uh all these are very very important from a b2c because from a b2c personal loan is important to keep the cash flow in the economy and keep it running uh while uh credit on the B2B side is very important because business happens on credit lines and uh today people do not get access to these either the rates are very high or the minimum Ticket size is not

met on onc network you will be able to invest in mut mutual fund for as low as rupe 5 and today as we speak you can get a personal loan on ondc in less than five minutes amazing everything is digitized right we believe that this is while one it will democratize the market it is also very important and critical for Indian economy because it will in it will promote financial literacy as well as Financial inclusion and and once this Get successful we are in the uh buildup stage for this protocols have been build up and

enabled we believe that this can be a game changer for onc also amazing amazing and what are the numbers we are talking about in today's date yeah so today as I said that we do almost 12 and a half million transactions per month uh uh we aspire to reach 100 million transaction in almost no time uh we today have a robust pull of around 6 and a half lakh uh Sellers and service Providers on the network 6 and a half lakh Sellers and service providers on the network in fact that number is to be precise

it is 7 lakh plus it's like increasing time time to time like next second you'll say it's like 7 and a half lak so it's actually more than seven lakhs as we speak uh these sellers are based out of 600 odd cities delivering to 1200 plus cities wow and we we truly are delivering from Kashmir to kanyakumari or east to west entire Geography of India has been covered uh and uh in fact when I was seeing the data last year last month when we closed the month uh we saw that uh extreme geographies of northeast

or uh upper side of India say Le ladak Jammu Kashmir or extreme end of kator Kumari we getting lot of orders from there if I recall well Jammu Kashmir did what some two lakh orders last year last month right interes right while while the northeast states cumulatively did Around four lakh orders so that's the power of network uh these people who were not being able to capitalize on the benefit of digital Commerce you know either due to lack of Assortment or lack of logistics is something uh which is getting democratized now uh out of the

11 domains which we do currently uh four to five domains such as food and beverages grocery uh retail vouchers uh mobility and on network Logistics as a Service is already doing more than one and a half million transaction per month uh uh we we have seen very very interesting use cases wherein for example magic pin one of a network early mover Network participant who had the first conviction that onc will be a great success uh and he was very right I guess uh they were originally a deal discovery platform they ventured into food delivery ecosystem

on the back of onc and we saw them growing 370x in less Than one year amazing right so their PN and their path to profitability is becoming better we saw Ola uh who had ventured into food ecosystem food delivery ecosystem through various Roots at least Thrice and did not had a success but we are able to see that they have Ed into food delivery once again through onc and are do are doing fantastic as I said Bangalore onc today has almost 20% market share right uh OA is able to leverage its power of uh uh

Network its power of footprint across India to enable Logistics as a service very unique use case that anybody can buy stiz Logistics today if if a small seller has to buy dtdc Logistics they cannot buy a directly from DDC they will not get a right rate the rates will be significantly higher because they will have to buy from local aggregators but today they can the smaller seller can come and buy Logistics directly from the network directly from the end supplier So if I were to give you example on the numbers through my experience the cost

of delivering food for 5 kilm in a platform Centric approach is hovering around 40 rupe to 50 rupe yeah that's typical you know what I've heard huh on onc network for 7 km uh the rate is flat 25 rupe almost half it's like less than half probably yeah so that's the benefit which onc brings we see uh we have seen very very uh New Age players such as Pidge uh coming on the network to supply Or solve for Logistics right uh through their proprietary Eng on artificial intelligence so all these together I believe you know

would be a game changer for India more so from the numbers point of view we are what what gives us joy at the day end is that smaller players are able to get the same benefits which a large player gets they get stateof the-art dashboards to do analytics and build their business they they get state-ofthe-art Slas when it comes to any delivery or any Services which they buy on the network uh for example Logistics right uh today if I mean any major Logistics player you can think of in India from India post to DT DC

to shadowfax to ship rocket the new age to the old ages of say delivery and ddcs of the world Blue Darts of the world everybody's on the network right and it opens up opportunity for everybody ultimately the smaller benefit Smaller seller gets benefit because their pnl improves right amazing amazing and what what is that you're aiming now you know this is already at you said 12 and a half million you know 7 7 lakh sellers what is that we can see onc reaching in say next couple of years or maybe five years for next uh

one or two years if I were to tell you uh the mission is very simple that everybody every seller every size of seller the bigger ones the Smaller ones everybody will be on onc network because we have the right value proposition and I've explained that in the first first part of our discussion today right so the seller base will just explode and the buyers will benefit because they will get more assortment more more options to buy or choose from on the transaction side I believe we are aiming for 100 million transactions in immediate term oh

and and this is in how many years you Thinking that's in in the immediate term when I say immediate term it's actually immediate term and uh in the medium I think that would be many millions while in long run it will be billions and every transaction will be an onc transaction uh given a choice I think in five years we would aim that every digital transaction should be an onc transaction right this a India's transaction it's not my transaction right uh very very interesting stories Are panning out in uh onc Network ecosystem uh wherein people

are inventing new ways of doing business uh new business models are can you give me an example absolutely so if you take a example of uh cab or ride healing service uh the platforms used to charge Commission on per ride basis uh onc Network participants broke the monotony and they came up with a subscription based model what does that mean that an autod driver Or a cab driver needs to log into an onc protocol enabled application as a seller and he needs to p a flat 25 rupe to login on that day during the day

whatever ride he does at whatever price all the money is his what happens in a platform Centric approach is that the fair of the ride is decided by the application and the margin money is as high as 30% so just imagine paying 30% on every ride Visa is paying 25 rupe only one time for the Entire day yep so we have seen industry moving from commission based model to a subscription based model wow right the market correction has happened to a great extent in this case uh we are seeing uh players like uh Kiko live

or Paul sta who are working very actively to digitize the kirana stores of India so that they do not lose the business to the quick Commerce of the world and their businesses protected because these kirana stores the general Trade kirana stores First lost a good amount of business to the modern store yeah modern trade Channel then they lost business to the e-commerce Channel now they're losing business to the quick Commerce Channel these people need to be protected these are generational old businesses which will run for Generations this create a huge employment I believe there are

12 million kirana stores in India 12 to 13 million kirana stores in India that's my Estimate and if these people go out of business a Generations will go out of business and it is important to protect them onc is the solution for them uh lot of my teammates are working in various small cohorts in various form with many Network participants to handhold train and digitize this kirana stores so that they can capitalize on the benefit of digital Commerce amazing street food for example uh very close to Heart Project for me uh I mean what you

ideally saying I'll get pkas on you know onc you are already getting pkas on platform Centric uh environment even today you can definitely go and buy PKA and alui say B py on zato even today but what is important for you to catch over here anit is from where is that coming uh today those come from hams and bams of the world yeah yeah right but as a customer the The Joy was more to eat the street food the local player who unnamed local player who used To prepare my next door guy who was preparing

gol gapas or say Street charts for me when these platform Centric approach what happens that they never you know enabled or digitize this smaller street food vendors right uh they were already always focused on a medium siiz to large size restaurants right because of which these players lost business right we never 5 years back we never went to a restaurant and ordered go gapas Ian There was a traditional mindset that gold gapas and charts are to be eaten outside on a street food while when you go to restaurant you have more sophisticated food but people

realize that there's a equal demand for these street food and these restaurants started selling them these people lost business right so and that we believe is a very important white space which is important for us to protect business for them onc is doing a pilot with almost 500 street food venders in Bangalore and sorry in uh in Delhi NCR and lnno Delhi is doing really well where we have onboarded 300 odd food street food vendors who are doing 400 transactions per day today amazing so that's the power of network and if I can improve the

income of these people net takeaway of these people I think the job of onc is done wow wow that's going so deep in the ecosystem you know the first thing that when we hear onc does it it look Like you know again probably an alternative of large Commerce businesses Etc but you know to think that it's going deep in the you know the ecosystem enabling Farmers enabling uh street food vendor it's like next level of power that you're opening up yeah it is not a alternate but it's a complement to what's already happening in Commerce

today right onc will not eat away market share of anybody right these are incremental businesses at the day end Yeah you enabling because you're enabling the you know long pyramid you know the bottom of the pyramid which wasn't part of the whole ecosystem absolutely the cannibalization will happen in the initial time right when when we kickart this and whenever the first level of transaction starts happening there will be a certain level of cannibalization right but this will settle down when we reach a basic threshold level got it and then You know the competition will be

more around between the players around Innovation and commerce should be on Innovation right it should not be on Monopoly absolutely absolutely That's The Power of network and you know you spoke about domains you know you you mentioned for you mentioned mobility and other domains what are the domains that is already implemented what are domains that you're looking forward in next one year yeah so some of the domains which Are already enabled on ecosystem today if I were to take in the mobility space uh you can can book cabs you can book uh Autos you can

book metros you can book buses on onc network today in almost what 10 cities uh we are working very actively to create a multimodal transportation for India that is you can sit at your house and you can book all the models of ticket through one application and only one QR code will be there you can scan the same QR code from Your auto to Metro station in the Metro station and for the last mile from Metro station back to your office one QR code will solve for everything multimodal Transportation aming going even beyond that that

uh you can makes one single cart to add your flight ticket to add your hotel to add your experiential vouchers and to book your cab one single cart pay one single QR code is generated that that is used everywhere these models are not something very new to the World these already existing in Singapore and European countries India is just adopting that so on the mobility front this is what we are solving on the retail front uh what are the domains we have already enabled so Food grocery on network Logistics as a service retail vouchers are

uh some of the domains which are already doing more than 1 and a half million transactions per month uh next on the line is Fashion Beauty and personal care home and kitchen uh this This entire segment taken together does 1 million transaction little more than 1 million transaction currently we we are working very actively on Brewing or maturing agre uh the B2B domain and uh uh the financial services doain within Financial Services we are enabling mutual fund uh personal loan working cap working Capital credit line right on the exports of course as I said that

exports will be very important for us uh on the agre we are enabling inputs as well as Supply side right a farmer will be able to buy seeds on the network he will be able to rent tra on the network while he will be able to sell his end crop to the customers through a digital Commerce the entire Munday ecosystem will be digitized completely and all these are in like last phases of development I mean what happens anit in a uh New Age way of looking at digital Commerce and more specifically in a network based

the growth is never linear it's a step based Growth right so things will move it will stabilize and then a step will come again so I expect the Next Step B step level growth to come somewhere around December from 13 14 million transaction which we will be doing currently which we are doing currently around December I think one more step jump should come uh very interestingly we are seeing uh uh devotional Commerce having a play on the network spiritual Commerce having a play on the network today you can buy an Iscon prashad from onc network

will deliver fresh straight to your house uh you can book a uh you will be able to book uh Puja uh sitting at your house from an onc application onc enabled application to any of the devotional places all right uh we are seeing very interesting participants uh joining the network for example media houses uh they are joining the network to uh sell product they media houses are joining as a buyer application because they already Have a huge customer base so for example jagran D jagran group they have launched application called K on onc because they

will and they have enabled all the domains of onc their customer the subscriber of den Jag newspaper will be able to buy goods and services un using ding jagran K application from the supply base more than three three CR skus are available on the network currently interesting we are seeing active participation uh from media Houses of course a lot of fmcg players lot of d2c player will be able to uh incash upon benefits of onc there was a very uh Famous Brand which had come on uh Shark Tank 3 also zof spices okay right uh

they they are doing a very meaningful business on onc today so we are helping people change the business Dynamics whenever I meet a brand or a client I always say them that if your growth path is for five years onc has a potential to half it in two and half Years you'll be able to achieve those numbers very very easily amazing amazing so uh few rapid fire questions abut you know I'll ask these questions and you'll have to answer as short as possible you know anything again you know if you feel like you want to

skip you can always say that U one what is your favorite segment among all these Logistics as a service interesting and uh what keeps you awake with respect to onc at night how do I add more and more uh Sellers and the Buyer applications very very quickly I'm very very excited to keep on adding more skus on the net networ and bring in more and more suppliers on the network because I'm directly changing their livelihoods and increasing their end disposable income uh on the demand side I'm very very excited to see uh which buyer application

will have a major break breakthrough because it's a complete true game of innovation right and there will be a concentration on the Buyer application side and I'm absolutely comfortable with that uh but what I'm really excited to see what kind of innovation do they bring in to win this journey what makes you sleep peaceful uh simple pleasure that uh livelihoods of many people are changing very very fast right Kiam SAR weer is able to sell directly on the network without worrying about the margin where do you really want to see Onc next five years of

time every transaction of digital Commerce across the world should be a onc transaction do you think India can teach the world onc as it's doing for you UPI right now India is already teaching the world uh how to do a network based digital Commerce uh India is the first one to introduce something called onc uh we are already working with uh Singapore to teach them how to do a digital Commerce In an open network based uh environment and we already have active live leads from many other countries including some of the top economies of the

world m and what do you see going to be more impactful in next 10 years of time is it the UPI is it the onc or is it the Adar I think Adar uh potential to go Adar is extremely extremely high uh I fundamentally believe that you know Adar is as powerful that it can replace Global passport system if Adar is Adopted by all the country uh across the globe uh one world one identity rather than one nation one identity uh that's the power which Adar commands it is absolutely secured the level of security it

brings is amazing uh I I strongly promote all the countries to you know test and adopt Adar and let one one world have one identity for anything it should replace all the pan voter ID passport driving license everything should be replaced and should be made Dormant and it will I'm confident it will save lot of cost to the ecosystem maintaining these multiple identity has got huge cost uh UPI I think the job is done in India it's now more about replicating it to the multiple countries and I'm I am confident the foreign minister Mr SJ

Shankar is already a role model to me and he's doing a fantastic job with the Commerce team and required Ministries to Cascade the impact uh onc will of course be the game changer uh It'll be the UPI moment of the world and I think it will be very very powerful it will change the way the Commerce happens uh or the Commerce has happened for decades for the next life to be there forever that's amazing I think uh uh had a wonderful insights around you know the whole onc concept an from you uh I think most

of the concept even I was not aware where you know I've been working closely I've been seeing this closely but even I think lot of this which I learned today Is like fresh for me it's like lot refreshing for me at the first place uh I see it's like probably much much bigger than the UPI moment itself UPI enabled one part of it but this is like opening up the whole plethora of opportunities for everybody to open and the rate at which you know uh India is actually going digital is like so so you know

beautiful to see it's like so powerful to believe upon and onc is just probably going to be another rocket you Know in the whole journey it's a another booster in the this you know this rocket ship called India uh thanks for all your Insight thank for all the amazing you know points that you shared I I love the discussion I hope you even enjoyed sharing these with our our audience today yeah absolutely thanks thanks anit for hosting me uh for such a uh intense discussion and uh what I realized that during this conversation many more

new ideas came to my mind how I can open up Onc even more faster and going back home I'm going to pen down all of them and it's going to be fun oh wow that's that's so lovely to hear J he like always thinking oh always on this think mode that what do we build next what do we do next that's what is probably building WC what it is today absolutely the more you discuss the more new idea comes yep yep but thanks thanks an thanks a lot for being here today I I love the

whole discussion I hope our Guest really enjoyed this whole conversation as well abely thank you thanks for hosting me thank you everybody for listening to me