Category : Business and economicsPublished on: May 20 2024
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The Open Network for Digital Commerce (ONDC) experienced significant growth in April, with transactions surpassing 70 lakh (7 million).
Launched in 2021, ONDC aims to democratize digital commerce in India by lowering entry barriers and fostering competition.
Over 5 lakh sellers have been onboarded, with more than 70% being small or medium-sized enterprises (SMEs).
The platform's influence is further evidenced by over 125 ecosystem stakeholders, including startups and unicorns, signing Letters of Intent (LoI) to join.
Startups are crucial in driving innovation and competition within the ONDC ecosystem. Joint Secretary of DPIIT, Sanjiv Singh, highlighted the importance of startups in enhancing consumer choice and contributing to the initiative's momentum.
Over 125 startups have committed to joining the ONDC network, showcasing their enthusiasm for using the platform to innovate and expand their market presence.
