The Open Network for Digital Commerce (ONDC) is assured to revolutionize India’s digital commerce landscape, potentially generating an additional Rs 3.75 lakh crore in gross merchandise value (GMV) within the next five years. A recent report by Redseer Strategy Consultants underscores ONDC’s transformative potential to democratize e-commerce, empower small businesses, and accelerate digital adoption nationwide.
ONDC’s innovative approach stands out by breaking away from the traditional e-commerce model dominated by a few major players. It introduces an open, interoperable network that provides equal opportunities for small and medium enterprises (SMEs) and buyers alike. By fostering inclusivity, it ensures businesses, irrespective of size or location, can access and thrive in the digital marketplace.
Since its beta launch in September 2022, ONDC has achieved remarkable growth, with retail transactions surging 15 times. Key sectors, including groceries, fashion, and home essentials, are expected to drive this growth further. The initiative also holds promise for rural India, where digital penetration has been limited, offering an opportunity for local sellers to connect with a broader consumer base.
Pradeep Kharola, Chairman of ONDC, emphasized the platform’s transformative impact, saying, “ONDC is about creating a vibrant, equitable, and scalable digital commerce ecosystem, ensuring no one is left behind in India’s digital growth journey.”
The platform’s ability to enhance competition, reduce entry barriers, and lower costs benefits both sellers and consumers. This aligns with India’s vision of a digital-first economy, boosting local businesses while positioning the country as a global leader in e-commerce innovation.
With ONDC, the government aims to foster a level playing field and build a robust digital economy. Its inclusive framework and potential to unlock significant economic value reflect India’s commitment to harnessing technology for sustainable growth.
