Government entity Open Network for Digital Commerce (ONDC) has noted a 21% month-on-month growth in transactions to 12 million in July up against 10 million in June.
4.4 million orders were from the mobility domain while the rest 7.6 million came from the non-mobility domain as per Equirus Securities India Equity Research BFSI sector reports. Food beverages accounted for 1.7 million transactions, fashion for 0.6 million, while the rest 4 million came in beaty, personal care, home, retail vouchers, and on-network logistics. In June, they were 6.1 million and 3.9 million respectively as per the same reports.
The network noted 1,000 transactions in January and rapidly expanded to nearly 10 million transactions in June.
Its daily order count peaked at 4,30,000 in the same month. Earlier, Minister of State (MoS) for Electronics and Information Technology- Jitin Prasada had conveyed to the Rajya Sabha that ONDC has 71 seller applications, 22 buyer applications, and 16 logistics service providers. Additionally, its network consists of more than 5.7 lakh sellers and service providers.
The government-run platform was established in 2021 as an open protocol-based network that allows local commerce across multiple sectors such as grocery and mobility. It was started as an initiative by the DPIIT- Department for Promotions of Industry and Internal Trade.
The platform is seeking bank integration with HDFC Bank, IDFC First Bank, and Karnataka Bank along with fintech in the likes of Fibe. It follows the network’s early pilots to start offering credit disbursal through collaborations with Tata Group superapp Tata Neu and Paisabazaar.
ONDC captured nearly 3% of food-tech giants Swiggy and Zomato’s food order volumes nationwide and 18% solely in Bengaluru as per its reports. Moreover, the Indian government launched a new initiative in June to onboard 5 lakh micro and small businesses on ONDC.
