Summary:

Prime Minister Narendra Modi lauded the Open Network for Digital Commerce (ONDC) for empowering small enterprises and transforming India's e-commerce landscape. Union Minister Piyush Goyal emphasized the platform's expansion, citing over 200 participants, 700,000 vendors, and services across 600 locations. Since its inception in 2021, ONDC has enabled over 150 million transactions in 1,110 cities. Monthly transactions reached 14.4 million in November 2024, with a target of 30-40 million by March 2025.

Despite its growth, ONDC faces challenges with platform awareness and performance. Brands such as True Elements, which joined in early 2023, experienced significant revenue declines in 2024 compared to other platforms. While ONDC offers cost-effective access to a wide audience, its exposure remains limited. This highlights the need for greater awareness and engagement to fully realize ONDC's potential in transforming India's e-commerce ecosystem and supporting small enterprises.

Source: IBEF 

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.