ONDC eyes 70 lakh transactions/mth by March

This month, we are planning to provide financial services also. We are onboarding the banking and insurance service providers to offer credit and financing solutions through our e-commerce network - Koshy T, MD & CEO of ONDC, tells Bizz Buzz

Adding More Domains

• ONDC expanding to include more sectors
• Recently introduced fashion, beauty & personal care, electronics and home decor segments
• It plans to facilitate exports and B2B transactions
• Number of sellers and buyers increasing with support of HUL, ITC

Hyderabad: ONDC (Open Network for Digital Commerce), a non-profit company established by the Department for Promotion of Industry and Internal Trade (DPIIT), has witnessed a huge growth in the number of orders and sellers through its network over the last few months. The inclusive large scale e-commerce system has recently crossed 50 lakh transactions per month, Koshy T, MD & CEO of ONDC told Bizz Buzz.

He said, “last year, ONDC was started with limited number of merchants in the areas of grocery and food. In January 2023, we had witnessed only 1,200 transactions with 500 merchants. This month, we have 50 lakh transactions with 2.3 lakh merchants across India. This brings confidence that our network of sellers would collectively make around 60-70 lakh transactions per month by March 2024.”

Speaking on the sidelines of the launch of ride booking app Yaary on ONDC, Koshy said that their network has added mobility services to the people of Hyderabad. “By the end of this month, we are planning to provide financial services also. We are onboarding the banking and insurance service providers to offer credit and financing solutions through our e-commerce network,” he said.

“ONDC has recently introduced fashion, beauty & personal care, electronics and home decor segments, which are showing very good traction and we are adding more domains. We also want to facilitate exports and business-to-business (B2B) transactions. The number of both sellers and buyers is increasing with the support of big brands like Hindustan Unilever (HUL) and ITC Limited,” Koshy informed.

Recently, HUL announced that it will assist in the onboarding about 13 lakh kirana stores onto the ONDC over the next couple of years. Similarly, ITC and other major FMCG (fast-moving consumer goods) brands are trying to use this network to strengthen their retail business. They are going to empower the network in more and more cities bringing in more sellers onto the network.