Kolkata, The Open Network for Digital Commerce (ONDC), which was set up with the aim of democratizing the country's e-commerce ecosystem, is on track to touch the 10 million transaction mark in June, a senior official said on Thursday. .
The open network is adding one million transactions on a month-on-month basis, he said.
ONDC CBO and President (Network Expansion) Shirish Joshi said, "We will touch 10 million transactions in the month of June. We are going strong, adding about 10 lakh transactions month-on-month."
Joshi was speaking on the sidelines of the third edition of 'World MSME Day' organized by Bengal Chamber here.
He said testing of financial services including loans has also begun with two private lenders and the network will also start offering insurance soon.
“Once these two categories are finalized, we will also include mutual funds in it,” Joshi said.
The official expressed hope that ONDC will overtake major e-commerce players like Flipkart and Amazon in the future.
He said, currently the number of transactions on ONDC is low, but in the last one and a half year it has been increasing continuously and rapidly.
Earlier, there were doubts about the success of ONDC as an open network, but it has proven to work very well, and is growing with new categories being added in phases, Joshi said.
He said the network also provided export opportunities.
Arup Kumar, CGM, Small Industries Development Bank of India (SIDBI), said the lender is supporting MSMEs in several ways, including including them in ONDC.
He also said that SIDBI has signed an MoU with the government for financing 'Jan Aushadhi' stores.
The open network is adding one million transactions on a month-on-month basis, he said.
ONDC CBO and President (Network Expansion) Shirish Joshi said, "We will touch 10 million transactions in the month of June. We are going strong, adding about 10 lakh transactions month-on-month."
Joshi was speaking on the sidelines of the third edition of 'World MSME Day' organized by Bengal Chamber here.
He said testing of financial services including loans has also begun with two private lenders and the network will also start offering insurance soon.
“Once these two categories are finalized, we will also include mutual funds in it,” Joshi said.
The official expressed hope that ONDC will overtake major e-commerce players like Flipkart and Amazon in the future.
He said, currently the number of transactions on ONDC is low, but in the last one and a half year it has been increasing continuously and rapidly.
Earlier, there were doubts about the success of ONDC as an open network, but it has proven to work very well, and is growing with new categories being added in phases, Joshi said.
He said the network also provided export opportunities.
Arup Kumar, CGM, Small Industries Development Bank of India (SIDBI), said the lender is supporting MSMEs in several ways, including including them in ONDC.
He also said that SIDBI has signed an MoU with the government for financing 'Jan Aushadhi' stores.
