It also hit a new peak of 5 million retail orders in a month and saw a single-day record of 200,000 retail transactions.
About ONDC
- It is a Section 8 company, under the initiative of the Department for Promotion of Industry and Internal Trade (DPIIT).
- It is based on open-sourced methodology, using open specifications and open network protocols independent of any specific platform.
- Its mission is to increase e-commerce penetration in the country by enabling population-scale inclusion of all types and sizes of sellers.
Benefits of ONDC
- Sellers: Get an equal opportunity to compete with large market players and become discoverable online.
- Buyers: Enjoy a seamless shopping experience from a wide range of products across categories in a single checkout experience.
- Tech Companies: Rapid adoption of products and services and improving scalability.
- FinTech: Provide credit and financing solutions to all entities engaged in e‑commerce.
Challenges associated with ONDC:
Resistance from incumbent players, transitioning of offline businesses to online mode, etc.