2 min readNew DelhiUpdated: May 18, 2024 07:15 AM IST
Transactions on Open Network for Digital Commerce (ONDC), a digital infrastructure launched in 2021 with an aim to democratise digital commerce, crossed 70 lakh in April this year, the Department for Promotion of Industry and Internal Trade (DPIIT) said on Friday.
DPIIT said that over 5 lakh sellers have been onboarded on the platform, of which more than 70 per cent are small or medium sized sellers and that over 125 ecosystem stakeholders including startups, unicorns and businesses have signed Letter of Intent (LoI) to join ONDC.
“Startups can play a pivotal role in the ONDC ecosystem by driving innovation, fostering competition and enhancing consumer choice. More than 125 startups have committed to onboard the ONDC network in today’s event reflecting the momentum of the national initiative,” Joint Secretary, DPIIT, Sanjiv Singh said.
The ministry in a statement said that creating and discovering markets is a challenge for startups that can be addressed through the ONDC platform as it lowers entry-barriers to digital commerce, and provides level playing field for all e-commerce players, especially the small-scale businesses and those who have been digitally excluded.
The ONDC entity, a not-for-profit company incorporated under Section 8 of the Companies Act 2013, manages and operates the ONDC Network. It is responsible for building and maintaining the underlying infrastructure as well as defining the rules of engagement and code of conduct for the Network Participants through the ONDC Network Policy and the ONDC Network Participant Agreement.
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