The government-backed Open Network for Digital Commerce (ONDC) has facilitated 7.22 million transactions in April and onboarded over 5 lakh sellers, as reported by the Department for Promotion of Industry and Internal Trade (DPIIT).
Out of the 5 lakh sellers, more than 70 percent are small or medium-sized sellers.
Over 12 unicorns and more than 125 startups have committed to onboarding ONDC to date, as revealed during the ‘ONDC Startup Mahotsav’.
Continue Exploring: ONDC surpasses 7.1 Million orders milestone in February since inception last year
Rajesh Kumar Singh, Secretary of DPIIT, expressed, “The ONDC network has undergone significant growth and maturation in the past eighteen months, and today’s session underscores both DPIIT’s and the industry’s dedication to democratizing digital commerce in India.”
Around 5,000 startups participated in the event, utilizing a hybrid mode of engagement.
During the event, more than 125 stakeholders, including startups, unicorns, and high-growth businesses like EaseMyTrip, OfBusiness, Winzo, Livspace, GlobalBees, Pristyn Care, Cars24, Physics Wallah, PolicyBazaar, and Zerodha, signed a Letter of Intent (LoI).
T. Koshy, MD and CEO of ONDC, stated, “The ‘ONDC Startup Mahotsav’ signifies a crucial juncture in India’s digital evolution. Through nurturing collaboration and innovation within our ecosystem, we are enabling startups to reshape the dynamics of e-commerce.”
Since 2016, India has transformed into one of the foremost startup hubs, boasting over 1.3 lakh DPIIT-recognized startups, a significant leap from the approximately 300 startups back then.
Operating across more than 55 sectors, these startups are pioneering innovation in various domains and have generated over 1.3 million direct jobs in the country.
Continue Exploring: Govt-backed ONDC sees rapid adoption, CEO T. Koshy expects tenfold merchant growth in coming year