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Piyush Goyal believes that ONDC is a growth engine that can redefine the e-commerce sector

Open Network for Digital Commerce (ONDC), according to Union Minister of Commerce and Industry Piyush Goyal, was established to democratise the nation’s current e-commerce environment. In his virtual address at the ‘ONDC Elevate’ programme on Monday in Bengaluru, Goyal stated that ONDC is a growth engine with the ability to totally redefine the e-commerce sector.

The minister stated that the fact that there are so many merchants on the network attests to ONDC’s significance as digital commerce being reimagined. Throughout the open house, Goyal interacted with every network participant, taking note of their comments and offering advice on how to step up their efforts to democratise digital commerce in India.

As a follow-up to participants’ questions, the minister added that “any marketplace joining ONDC should come with serious commitment, and not for namesake.” Additionally, he made the point that platforms joining ONDC should do so in a spirit of reciprocity rather than just taking advantage of the network’s resources without making a contribution to its development.

With the goal of boosting collaboration by bringing together network participants and ecosystem players, ONDC Elevate celebrated ONDC’s one-year anniversary. It provided a platform for open talks about current successes and facilitated brainstorming sessions to help determine ONDC’s future course.

Dilip Asbe, CEO of NPCI, Adil Zainulbhai, Chairman of the Capacity Building Commission, and Jaxay Shah, Chairman of QCI, members of the ONDC Advisory Council, also attended the occasion. According to a release from the Ministry of Commerce & Industry, participants had the chance to express their ideas during this interactive session and benefited from the minister’s and the advisory council members’ advice.

As ONDC completes its first year of operations, T. Koshy, MD & CEO, stated that it is the perfect time to reflect on what has been accomplished thus far and make plans for the future. According to him, the network has consistently developed with the participation of a variety of companies from five cities to 236 cities.

The panel also talked about the different achievements made by ONDC during the last 12 months. Since the beginning of beta testing on September 29, 2022, ONDC has expanded to 36,000 merchants, 45+ network participants, and 8+ categories. Weekly averages of 13,000+ retail orders and 36,000+ mobility rides each day have been achieved, with daily peaks of 25,000 retail orders.

According to the statement, the session also covered the effects that ONDC is having, particularly on SHGs and non-digitized sellers.

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