The new open technology platform aims to level the business environment for small merchants and facilitate their expansion in a USD 1 trillion retail market. Its main purpose is to create a freely accessible online system where consumers and traders can buy and sell everything, similar to what Amazon and Walmart-owned Flipkart are currently doing in India.
The two global giants currently hold around 80% of the country’s online retail market, with combined investments of over USD 24 billion but leave little to no space for small merchants to address consumers’ needs with fair prices.
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