Five lakh vendors have been added to the platform so far under the Government-backed ONDC (open network for digital commerce) programme, according to a senior official. The effort has begun to gain traction in the e-commerce industry.
Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stated that the ONDC’s main goal was to democratise and increase smaller firms’ access to digital commerce.
“It has started getting traction in the last two years. Five lakh sellers have on-boarded of which 70 per cent are small and medium sellers. In April, ONDC facilitated 7.22 million transactions,” Singh told reporters.
Promoting an open platform for all facets of retail e-commerce is the ONDC’s goal. In addition to assisting small shops in growing their businesses through e-commerce, it would lessen the power of industry giants.
It is a non-profit organisation that has developed a set of guidelines for vendors, shipping companies, and operators of payment gateways to voluntarily adopt.
When asked if large start-ups would eclipse smaller competitors, the secretary expressed hope that the e-commerce industry could gain traction for a wider range of businesses.
During an event, over 125 stakeholders in the ecosystem, including high growth companies, unicorns, and start-ups, signed Letters of Intent (LoI).
These LoIs demonstrate both the potential of ONDC and the enthusiasm of the nation’s top companies to work with the platform.
Start-ups may be key players in the ONDC ecosystem by promoting competition, accelerating innovation, and expanding customer choice, according to DPIIT Joint Secretary Sanjiv.
