What is ONDC ?

Magicpin said that it delivered 35,000 food orders during the India versus Pakistan match on October 14. The orders peaked at 50,000 on a single day during the India versus Australia match.

Under the new arrangement, magicpin has started sale of Chana Dal at Rs 120 per kg and onions at Rs 50 per 2 kg, catering to more than 100 pin code areas in the National Capital Region (NCR)

VC firm Antler has collaborated with Nilekani, FIDE and ONDC and launched the country's first ONDC-focused venture platform to help entrepreneurs create businesses and succeed on the open protocol

Quick commerce firm will provide merchants customer and last-mile logistics delivery support for joining network

Consumers can order tomatoes through magicpin app, Paytm, PhonePe's Pincode, Mystore in Delhi-NCR and select few cities under the arrangement, it said in a statement

ONDC or Open Network for Digital Commerce is a new initiative of the department for promotion of industry and internal trade (DPIIT)

Hyperlocal e-commerce firm magicpin has recorded 50 per cent month-on-month growth on the government-supported ONDC network as it crossed 30,000 daily order mark on the platform, the company said

In which we munch over the week's platter of news and views

Although ONDC's hyperlocal tilt gives small sellers effective inroads in e-commerce, disruption in food delivery market will be contingent on building scale, meeting quality set up by Swiggy, Zomato

However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others

The number of orders soared beyond expectations as magicpin doubled its daily orders via its own buyer app and through buyer apps of multiple platforms like Paytm, Phonepe's Pincode and Meesho

The government wants all e-commerce players to become part of the Open Network for Digital Commerce (ONDC) and this initiative is not trying to put anybody out of business

E-food delivery majors may instead partner the govt network

Non-compliance may result in a penalty

Plans to add 5,000 more restaurants to its network in three months; Besides tech integration on ONDC, the firm will also be fulfilling all backend logistics related to ordering and delivery

Says network needs a certain number of people before it is taken to the public; fashion, home & kitchen, electronics, beauty & personal care categoroes likely to go live in next 4-8 weeks

From being the 'office to the world', India is set to become its factory too

Goyal said, The ONDC has that ability to transform the e-commerce sector not only in India, but also in the whole world

India's e-retail market rose to approximately $40 billion in 2021 and is slated to reach $50 billion in 2022

UPI has revolutionised payments. ONDC can do the same for MSMEs, and take e-commerce's share to 25 per cent of all commerce by 2024