Online Network for Digital Commerce (ONDC), an open technology network based on an open protocol, has crossed the 5,000 daily orders mark in the retail category, mainly foods and beverages (F&B) and grocery. With this, the platform records a 25-fold growth in the past two months.
“We even hit 6,000 retail orders per day during the weekend. You should not also discount the mobility category as we have been doing around 25,000 rides daily via the Namma Yatri app,” ONDC Chief Executive T Koshy told Moneycontrol.
Last month, the network onboarded mobility aggregation platform Namma Yatri, which is open source and does not take any commission from drivers.
According to the Moneycontrol report, Koshy said Bengaluru recorded the highest number of orders on ONDC on most days, while Delhi tended to top the tech hub on a few days.
What Is ONDC?
It is an open technology network based on open protocol and will enable local commerce across segments, such as mobility, grocery, food order and delivery, hotel booking and travel, to be discovered and engaged by any network-enabled application.
The platform allows buyers and sellers to connect and transact with each other online, regardless of what other applications they use. The buyers and sellers do not have to use the same platform or same mobile app to have a transaction. They can use different applications and still do business transactions.
The foundations of ONDC are to be open protocols for all aspects of the entire chain of activities in the exchange of goods and services, similar to HTTP for information exchange over the internet, simple mail transfer protocol for the exchange of emails and unified payments interface for payments, according to the commerce ministry.
The benefits of ONDC include access to more buyers; better discoverability of products and cost; autonomy on terms because of multiple choices for being digitally visible; lower cost of doing business; and more options for value chain services like logistics and fulfilment.
According to a strategy paper by this ONDC entity published last year, there needs to be “a paradigm shift from an operator-driven monolithic platform-centric model to a facilitator-driven, interoperable decentralized network”.
The ONDC will not be owned or controlled by a single entity or platform and the idea behind it is to connect buyers, suppliers, payment, and logistics providers through open-source specifications and protocols.
Read all the Latest Business News, Tax News and Stock Market Updates here
Comments
0 comment