As many as 2,200 transactions have taken place on ONDC: Piyush Goyal

On the conflict of interest reportedly flagged by the Reserve Bank of India on the National Payments Corporation of India’s plan to acquire a stake in ONDC, Goyal said there were several investors wanting to invest in the network. “If there is a conflict of interest, then there are other investors who are interested in investing. We have enough money.”

At a press briefing Friday, the minister said that just like the United Payment Interface (UPI), ONDC will democratise and make e-commerce available to the common man. The e-commerce network has already facilitated more than 2,200 transactions on the network.

“It takes everybody onboard like UPI did. It will give strength to the small to compete with the large. Through ONDC, we will try to bring all platforms onboard into the network of protocols and once more people come onto ONDC, buyers will have more choice,” he said.
He added that the platform will connect small stores and retailers across the country whose existence is under threat. “ONDC gives our small retailers an opportunity to provide their services and products to buyers across the country through an e-commerce system.”

It gives the buyers more choice based on price, time of delivery, quality, and preferred payment method. It will open up more options for buyers and sellers, he said.

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“Beta launch was done in Bengaluru and that has fetched good results. We are in a testing phase. Such massive game changing technologies need a long testing phase. After Bengaluru, we will now launch it in more areas with more products,” Goyal remarked.

Speaking at the same briefing, Anurag Jain, secretary, Department for Promotion of Industry and Internal Trade (DPIIT), said that by December-end, ONDC will add categories like fashion and apparel, home decor and electronics too.

T Koshy, chief executive, ONDC, added that the order fulfilment rate of the 2,200 transactions was 60% to 80%. He said that among these orders, 70% were that of groceries and 30% were that of food. So far, 22 pincodes in Bengaluru are live on ONDC.

He added that so far, there are 21 active network participants, out of which five are buyer apps, three are logistic service providers and the rest are seller apps.

“As the network gains more traction and builds up, we will have more buyers, more sellers and this network of protocols will lead to many startups mushrooming all over the country instead of concentrating power and wealth in the hands of few,” Goyal said.

Indian startups leading global recovery


At the Bengaluru Tech Summit later in the day, Goyal said Indian startups are playing the role of a “booster dose” in the post-pandemic recovery.

“Despite geopolitical challenges, countries are getting into recessionary mode and inflation is at five to eight times the usual levels, but bright young Indians are helping India lead global recovery,” he said.