Synopsis
The Open Network for Digital Commerce (ONDC) has crossed 200 million transactions, marking a significant shift in India's digital commerce. The recent surge from 100 million to 200 million transactions took only six months, illustrating ONDC's rapid expansion and transformative impact on the e-commerce landscape.Key Takeaways
- ONDC has surpassed 200 million transactions.
- It took just six months to add the last 100 million.
- ONDC is fostering a competitive digital commerce environment.
- The initiative aims to support 500,000 MSMEs.
- Focus on women-led businesses for digital growth.
New Delhi, March 24 (NationPress) The Open Network for Digital Commerce (ONDC) announced on Monday that it has officially surpassed the 200 million transaction milestone, reinforcing its position as a transformative force in India’s digital commerce arena.
It took approximately 20 months (January 2023 to August 2024) to achieve the first 100 million transactions, but in the past six months alone, ONDC has added nearly 100 million more, as reported by the organization.
This rapid growth highlights how ONDC has evolved from a visionary project into a nationwide movement, driving extensive adoption across various sectors including food and beverages, groceries, retail, logistics, mobility, and financial services.
“Reaching 200 million transactions is more than a mere milestone — it signifies a fundamental change in how buyers and sellers perceive digital commerce today. This confirms ONDC’s conviction that an open network can facilitate large-scale transformation by offering equal opportunities to all businesses, dismantling monopolies, and fostering an environment where innovation can flourish,” stated T. Koshy, MD and CEO of ONDC.
The pace at which ONDC is expanding is a clear reflection of India’s readiness for a more inclusive and accessible digital economy.
“And this is merely the beginning. Numerous use cases are in development within ONDC that will soon be introduced,” he emphasized.
In January this year, the government initiated the MSME Trade Enablement and Marketing (TEAM) program with a budget allocation of Rs 277.35 crore over three years. This initiative, led by the Ministry of Micro, Small and Medium Enterprises in collaboration with ONDC, aims to onboard 500,000 micro, small, and medium enterprises (MSMEs), with 50 percent of these being women-led businesses, to adopt digital commerce and broaden their market reach.
ONDC is establishing a facilitative model that is revolutionizing digital commerce, significantly enhancing the penetration of retail e-commerce in India.
As an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC has not only increased in numbers and impact since its launch in September 2022, but has also fundamentally transformed the way businesses and consumers interact in the realm of e-commerce.
