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ONDC network grows rapidly, onboards lakhs of sellers in April: Here's what's ahead

ONDC is based on open-sourced methodology, using open specifications and network protocols independent of any specific platform. The network is growing rapidly and has onboarded hundreds of thousands of sellers in April.

Written By: Om Gupta New Delhi Published on: May 17, 2024 18:44 IST
ONDC
Image Source : ONDC ONDC

The government-run Open Network for Digital Commerce (ONDC) facilitated 7.22 million transactions in April and onboarded over 5,00,000 sellers, the Department for Promotion of Industry and Internal Trade (DPIIT) announced on Friday. Among the 5,00,000 sellers, more than 70 percent are small or medium-sized sellers. At least 12 unicorns and over 125 startups have committed to onboarding ONDC to date, as announced at the 'ONDC Startup Mahotsav' event.

"The ONDC network has rapidly grown and matured over the past one and a half years, and today’s session reflects both the DPIIT’s and industry’s commitment to democratising digital commerce in India," said Rajesh Kumar Singh, Secretary, DPIIT.

The event had around 5,000 startups participating in hybrid mode. Over 125 stakeholders, including startups, unicorns, and high-growth businesses such as EaseMyTrip, OfBusiness, Winzo, Livspace, GlobalBees, Pristyn Care, Cars24, Physics Wallah, PolicyBazaar, and Zerodha, signed a Letter of Intent (LoI) during the event.

"The 'ONDC Startup Mahotsav' marks a pivotal moment in India's digital transformation journey. By fostering collaboration and innovation within our ecosystem, we are empowering startups to redefine the rules of the game in e-commerce," said T. Koshy, MD, and CEO, ONDC.

Since around 300 startups in 2016, India has emerged as one of the leading startup hubs with over 130,000 DPIIT-recognized startups. These startups operate in more than 55 sectors, driving innovation across various domains and creating over 1.3 million direct jobs in the country.

Meanwhile, Hero MotoCorp, a leading two-wheeler company, announced on Monday that it has joined the government-run Open Network for Digital Commerce (ONDC) Network, as part of the Digital India initiative. This makes Hero MotoCorp the first auto company in the country to join the network. The company stated that this partnership will enhance accessibility and convenience for consumers by providing a user-friendly digital platform.

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Inputs from IANS

 

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