Microsoft joins India's ONDC WHAT HAS HAPPENED? US firm Microsoft has become the first big tech company to join the Open Network for Digital Commerce (ONDC), A government-backed project which is aimed at enabling small merchants and mom-and-pop stores in parts of the country to access processes and technologies that are typically deployed by large e commerce platforms such as Amazon and Flipkart. The software giant intends to introduce social e-commerce - group buying experience in the Indian market, Which would include a shopping app for Indian consumers along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers. WHAT IS OPEN NETWORK FOR DIGITAL COMMERECE ? It is an initiative aimed at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols inde...
Akasa Air to Start in India from Aug 7 WHAT IS AKASA ? The airline is being launched by Jhunjhunwala, who will hold a 40% stake in the company. Jhunjhunwala has onboarded aviation industry veterans such as former Jet Airways CEO Vinay Dube and ex-IndiGo president Aditya Ghosh to run the airline. While Dube is the CEO of the company, Ghosh is expected to be on the board as Jhunjhunwala’s nominee. WHAT HAS HAPPENED ? Rakesh Jhunjhunwala-backed budget carrier Akasa Air Friday announced it would launch its maiden commercial flight on August 7. The airline will fly from Mumbai, Ahmedabad, Bengaluru and Kochi with two Boeing 737 Max aircraft to begin with, and is expected to add more routes as it inducts more capacity. WHICH ROUTES AKASA AIR FLY ? In the inaugural phase of its network development, Akasa Air will launch its operations by offering 28 weekly flights between Mumbai and Ahmedabad starti...