ONDC Records 21% Rise In Transactions To $12 Mn In July

The government-run Open Network for Digital Commerce (ONDC) logged a 21% month-on-month growth in transactions to 12 Mn in July, compared to 10 Mn a month ago.

Around 4.4 Mn of the orders recorded in July were from the mobility domain while the remaining 7.6 Mn was obtained from non-mobility domain, ONDC said in a statement.

The network confirmed that the daily orders through ONDC peaked at about 430,000 in July. Also, it currently comprises over 6.38 Lakh sellers and service providers, operating in more than 609 cities.

Last month, the Minister of State (MoS) for Electronics and Information Technology Jitin Prasada said in a written reply to the Rajya Sabha that ONDC has 71 seller applications, 22 buyer applications, and 16 logistics service providers and there are a total of over 5.7 Lakh sellers and service providers on the network. 

At that point, it was noted that the network witnessed rapid expansion, growing from over 1,000 transactions in January 2023 to more than 9.9 Mn transactions in June 2024.

ONDC recorded 10 Mn transactions in June, with 6.1 Mn non-mobility transactions and 3.9 Mn mobility transactions, according to Equirus Securities India Equity Research BFSI sector report.

In the food and beverages sector, ONDC claims to have captured an 18% market share in Bengaluru. The platform also reported that it captured about 3% of Swiggy and Zomato’s total food order volumes across India, as per its internal analysis in July. 

Established in 2021 as an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC is an open protocol-based network to enable local commerce across multiple segments, including grocery and mobility among others.

The network has been looking to integrate banks including HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech platforms like Fibe and others,  months after it also began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar.

Meanwhile, the Centre rolled out a new initiative to facilitate onboarding of 5 Lakh micro and small businesses on the ONDC platform, in June.

(The story has been updated based on a press note from ONDC.)

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.