ONDC Merchants to Multiply: 3 Lakh & Growing - PTI
By Rediff Money Desk, NEWDELHI Feb 08, 2024 15:29
ONDC, India's open network for e-commerce, expects a tenfold increase in merchants in the coming year, reaching 3 million. Transactions also saw a surge, with 67 lakh recorded in January.
New Delhi, Feb 8 (PTI) The government-promoted Open Network for Digital Commerce has around 3 lakh merchants and the count is expected to multiply in the coming year, ONDC MD & CEO Thampy Koshy said on Thursday.
"We started with 600 merchants on-board in January last year. At present there are around 3 lakh merchants (on-boarded). In the coming year we expect this will be multiplying and build its momentum. At least ten times growth I expect in the coming year," Koshy said on the sidelines of an event here.
He further said that ONDC witnessed 67 lakh transactions in January, and he expects a 20-30 per cent growth in monthly transactions going forward.
Koshy was speaking after an agreement signing ceremony between QCI and ONDC at the launch of the DigiReady Certification (DRC) portal.
For the DRC initiative, QCI in conjunction with ONDC aim to assess and certify digital readiness of MSME entities. With the help of an online self-assessment tool, MSMEs can evaluate their preparedness to seamlessly onboard as sellers on the ONDC platform, thereby expanding their digital capabilities and business potential.
"It is a way of helping people to be ready so that they can join the network as fast as possible. We are expecting that thousands of them will come onboard," Koshy said.
Jaxay Shah, Chairperson of the Quality Council of India (QCI), said, "The launch of the DRC portal marks a pivotal moment in our mission to empower MSMEs and make e-commerce more inclusive and accessible".
ONDC is an initiative of the commerce and industry ministry to create a facilitative model to help small retailers take advantage of digital commerce.
It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and inter-operable open networks.
"We started with 600 merchants on-board in January last year. At present there are around 3 lakh merchants (on-boarded). In the coming year we expect this will be multiplying and build its momentum. At least ten times growth I expect in the coming year," Koshy said on the sidelines of an event here.
He further said that ONDC witnessed 67 lakh transactions in January, and he expects a 20-30 per cent growth in monthly transactions going forward.
Koshy was speaking after an agreement signing ceremony between QCI and ONDC at the launch of the DigiReady Certification (DRC) portal.
For the DRC initiative, QCI in conjunction with ONDC aim to assess and certify digital readiness of MSME entities. With the help of an online self-assessment tool, MSMEs can evaluate their preparedness to seamlessly onboard as sellers on the ONDC platform, thereby expanding their digital capabilities and business potential.
"It is a way of helping people to be ready so that they can join the network as fast as possible. We are expecting that thousands of them will come onboard," Koshy said.
Jaxay Shah, Chairperson of the Quality Council of India (QCI), said, "The launch of the DRC portal marks a pivotal moment in our mission to empower MSMEs and make e-commerce more inclusive and accessible".
ONDC is an initiative of the commerce and industry ministry to create a facilitative model to help small retailers take advantage of digital commerce.
It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and inter-operable open networks.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- AvanceTechnologies
- 0.94 ( -4.08)
- 36935326
- Vodafone Idea L
- 7.88 ( -2.11)
- 35484083
- Srestha Finvest
- 0.68 (+ 3.03)
- 30298217
- ARC Finance
- 2.78 (+ 2.96)
- 16033600
- Suzlon Energy Ltd.
- 62.50 ( -6.49)
- 13725252
MORE NEWS
Asian Paints Profit Falls 43.7% in Q2 | News
Asian Paints reported a 43.7% decline in Q2 profit to Rs 693.7 cr, impacted by weak...
Punjab Paddy Procurement: 121 LT Achieved (65%...
The Centre has procured 120.67 lakh tonnes of paddy from Punjab, reaching 65% of the...
Coal Production Target: India Aims for 170 MT...
India's coal ministry is optimistic about achieving a production target of over 170...