Open Network for Digital Commerce (ONDC) has established a presence in 85 cities and is aiming for a prosperous 2023 with the assistance of big industry players.
According to a LinkedIn post by ONDC’s Managing Director and Chief Executive Officer, T. Koshy, the company has 26 members and more than 800 merchants in advance of its first Foundation Day and is well on its way to transforming digital commerce in India and becoming a benchmark for the rest of the world.
“In the past year, ONDC has grown from establishing its proof-of-concept in a digital simulation to its first real-world transactions, establishing its footprint in 85 cities as part of alpha testing and subsequently launching its Beta in Bengaluru first followed by Meerut,” Koshy added.
He explained that ONDC’s goal is to make it possible for every citizen to make purchases online from any of India’s millions of small and medium-sized enterprises (MSMEs).
“Through ONDC, sellers, regardless of size or scale, will be able to participate in e-commerce on their own terms,” he continued.
With the help of ONDC, vendors will be able to access this enormous market by means of a fair and secure platform that brings together a wide variety of vendors, buyers and logistics providers.
ONDC was established as a non-profit company with the support of institutions which have built population-scale initiatives for the country including the Quality Council of India and Protean as its founding members.
Subsequently, 17 other banks and financial institutions have joined as shareholders.These include State Bank of India, Punjab National Bank, Uco Bank, Bank of Baroda, Bank of India, Axis Bank, ICICI bank, HDFC Bank, Kotak Bank, IDFC Bank, BSE, BSE, NSDL etc .
“Following the vision of Prime Minister Narendra Modi, ONDC will enable a broad cross-section of merchants, artisans, FPOs, traders, SMEs, and weavers across every corner of India with equal opportunities as the big established players in the digital world,” said Koshy.
“We are taking baby steps and we can succeed only with the support and participation of all industry players in this journey,” he added.
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