ONDC transactions are increasing overall

25 Jul 2023 , 10:56 AM

Shireesh Joshi, Chief Business Officer at the Open Network for Digital Commerce (ONDC), told ET that there has been an increase in transactions across the board. He continued by saying that although precise figures couldn’t be disclosed, since the network’s newest businesses joined, more orders have been placed overall.

According to a study conducted by the Industrial Credit and Investment Corporation of India (ICCI), a financial services company, daily network transactions will increase to 200,000 from the current 80,000 by December, according to a recent report from ET.

While initially,+ these businesses were merely experimenting with ONDC, according to Akshay D’ Souza, Chief of Growth and Insights at Bizom, who talked to ET, a recent increase in the order volume, as well as improvements in the service level, had been noticed. He claims that as a result, there has been an increase in the number of suppliers and brands using the service. 

Food and beverages are a sizable category that may be seen heading towards becoming part of the service, he continued. ‘There are various sectors that are now moving on to ONDC; it is not just limited to the FMCG sector,’ he told ET.

He added that 35 additional brands were in the process of joining the Bizom seller network, which had just added 30 new brands as participants to the ONDC. He continued by saying that the 35 brands that were considering joining came from a variety of industries, including packaged foods, homecare, durable goods, edible oils, and beverages.

These companies would be in charge of establishing connections between sellers and the ONDC network via the application as members of the seller network. On its website, ONDC now has 55 network participants in total, with 94 of those being at an advanced level of development.

The ONDC was established last year with the goal of providing merchants and small companies with access to the technologies and processes used by major e-commerce platforms. Currently, 273 cities can access the service’s alpha version.

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