The Open Network for Digital Commerce (ONDC) has seen a surge in orders after hitting a new peak of 53,000 on October 8.
Industry experts believe that platforms like Magicpin, Paytm, Ola, and PhonePe will be eager to boost sales during the upcoming festive season and ICC Cricket World Cup, as the government-backed e-commerce network ONDC is raising its incentive levels for platforms starting October 3.
Ride-hailing transactions on the ONDC network have also surged, increasing from around 700 in January to around 2.7 million in September, a growth of over 4,000 times.
ONDC is targeting to reach 200,000 transactions per day by the end of 2023, up from its current peak of 160,000. ONDC has already launched ride-hailing services in Bengaluru, Mysuru, and Kochi in the south.
ONDC's mobility vertical, with the Namma Yatri app, is already providing about one lakh trips per day in Bengaluru, challenging the dominance of big ride-hailing services like Ola and Uber.
After a year of operations, the app has already completed over 1 crore trips, generated over Rs 150 crore in driver earnings, and has nearly 20 lakh registered users and 95,000 registered drivers.