Three points you will get to know in this article:
- ONDC is assessing requests to include industrial items like construction materials and metal alloys.
- ONDC is seeking participants like Urban Company to join the network and provide skill-based services.
- ONDC is expanding its network to offer financial services like personal and SMB loans, insurance, and mutual funds.
The Open Network for Digital Commerce (ONDC) is gearing up to venture into the realm of skill-based services, broadening its current range of offerings beyond food, grocery delivery, and mobility services. Now, in addition to these, ONDC is set to delve into sectors such as appliance repair and teaching assistance.
This exciting expansion reveals that ONDC is not stopping there. The platform is all set to introduce an array of financial services, encompassing personal and SMB loans, insurance, and mutual funds on its network. These strategic moves underline ONDC’s commitment to providing a diverse and comprehensive array of services to its users.
Shireesh Joshi, the Chief Business Officer at ONDC, shared with Moneycontrol that the platform is actively seeking participants, such as Urban Company, to join its network and provide skill-based services.
According to Joshi, “We’ve been approached by various sectors expressing interest in categories not currently available on the network. Skill-based services are one of them. We’ve received numerous requests from both organizations and state governments. Implementing this will involve specific protocol development and the onboarding of network participants. It’s a collaborative effort to meet these demands.”
“We’re actively enhancing the network’s capabilities to facilitate these services seamlessly, ensuring our readiness on all fronts,” Joshi conveyed.
Preliminary talks are underway regarding the potential integration of skill-based services onto the network. It may take some time before users can experience these innovative features.
Joshi shared with the publication that ONDC has received requests to include industrial items like construction materials and metal alloys. Currently, these proposals are under careful evaluation.
Introduced in 2022, ONDC, championed by governmental support, is dedicated to fostering universal accessibility in ecommerce. The organization is actively crafting open standards across the spectrum of digital commerce, empowering both buyers and sellers to seamlessly engage through any compatible application or service.
Starting its journey with a focus on food and grocery delivery, ONDC is expanding its horizons. Just recently, a spokesperson from ONDC shared that more than 65 entities have expressed keen interest in collaborating with the network, particularly for its upcoming financial service offerings.
The previous month witnessed the unveiling of the ‘ONDC Network Gift Card’ by the platform, catering specifically to corporate gifting and fostering employee engagement.
In a dedicated effort to enhance interaction, ONDC has rolled out an enticing incentive initiative. This program promises attractive bonuses, reaching a substantial INR 35 lakh weekly, for buyer-side platforms achieving predetermined order volume milestones.
In the meantime, there’s a significant boost to our array of mobility solutions. This March, we welcomed the Bengaluru-based auto booking app, Namma Yatri, into our network. Now, we’re thrilled to announce the launch of our cab-hailing pilot program in Kolkata, a collaborative effort with the Yatri Sathi app from the West Bengal government.
Adding to our recent milestones, ONDC has formalized a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI). This strategic move is aimed at bringing small and medium-sized businesses into our dynamic network.
According to the information available on our website, ONDC proudly connects with 1.79 Lakh sellers and service providers. We’re continuously expanding and fostering a thriving ecosystem for businesses of all sizes.
ONDC’s dynamic expansion into skill-based services, financial offerings, and strategic collaborations underscores its commitment to providing a diverse and comprehensive platform. Shireesh Joshi’s insights into the ongoing efforts to enhance network capabilities reveal a collaborative commitment to meet evolving demands. With an array of recent milestones, including partnerships and incentive programs, ONDC is poised to foster a thriving ecosystem for businesses, epitomizing its dedication to universal accessibility in digital commerce.
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