 "Expecting 30-40 mn monthly transactions by March 2025: ONDC CEO Koshy")
The government-backed Open Network for Digital Commerce (ONDC) is expecting 30 to 40 million monthly transactions through the platform by March 2025, its CEO T Koshy said on Wednesday.
The open network witnessed 10 million transactions in June, up from over 7 million in March.
"In March (2024) it was 7 million plus transactions. Now in June we had 10 million transactions and I think by the end of the fiscal year it should be 30 to 40 million (monthly) transactions," Koshy said at a CII event here.
He further said the ONDC platform has 5-6 lakh merchants onboard with the number expected to rise significantly in the coming months.
He was addressing MSME Growth Summit organised by the industry body.
ONDC was set up with an aim to democratise the country's e-commerce ecosystem.
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Addressing the summit, Sameer Gupta, Chairman of CII National MSME Council, emphasized the transformative impact of the industry body's initiatives like Digital Saksham.
He highlighted the pivotal role of MSMEs in the economy, in realizing the vision of a 'New India' while pointing out their contribution of 30 per cent to the GDP and 40 per cent to exports.