India lines up banks for e-commerce effort to take on Amazon, Walmart

FILE PHOTO: Workers at Flipkart, a leading e-commerce firm in India, sort packets on a conveyor belt inside its fulfilment centre on the outskirts of Bengaluru, India, September 23, 2021. REUTERS/Samuel Rajkumar

NEW DELHI (Reuters) -India's effort to break Amazon Inc and Walmart Inc's dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said.

Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the Indian government soft-launched in April, the sources told Reuters.