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ONDC aims to enable global trade, help Indian biz tap international markets: T Koshy
YourStory
ยท
10m ago
Medial
Open Network for Digital Commerce (ONDC) is focused on enabling cross-border trade and providing Indian businesses with access to global markets. Their vision is to level the playing field for small and medium-sized enterprises (SMEs) and break down barriers to entry, reducing the dominance of large e-commerce players. ONDC aims to foster collaboration between nations and integrate with other digital commerce networks globally. Interoperability and advanced technologies like blockchain and AI will play crucial roles in ensuring transparency, security, and efficiency in cross-border transactions, addressing challenges such as fraud and data privacy.
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Related News
Cross-border trades to be a game-changer for ONDC: CEO T Koshy
Livemint
ยท
1y ago
Medial
The Indian government's Open Network For Digital Commerce (ONDC) is set to boost e-commerce penetration in India to 25% from the current 4-5%, according to ONDC CEO T Koshy. The network aims to reach 900 million buyers and 1.2 million sellers, with a potential gross merchandise value of $48 billion. Additionally, ONDC is expanding into the mobility sector, integrating multiple transport modes for seamless travel. It has conducted its first international transaction with a Singapore-based business network, Proxtera. ONDC aims to be an enabler for innovation and complement existing platforms rather than compete with them.
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Expect ONDC to hit 200,000 transactions a day by year-end: T Koshy
Money Control
ยท
2y ago
Medial
T. Koshy, the managing director of the On-Demand Car (ONDC) platform, anticipates the platform to reach 200,000 transactions per day by the end of the year. He highlighted the platform's robust growth and projected a significant increase in daily transactions. Koshy expressed confidence in ONDC's ability to cater to the growing demand for convenient and flexible transportation services in India.
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ONDC seller apps seek unique ID for networkโs vendors
Economic Times
ยท
1y ago
Medial
Multiple seller apps on the ONDC network are facing duplication issues with vendors onboarding, leading to loss of commission for companies and confusion for consumers. Some companies suggest implementing a unique identifier, such as GSTN number or PAN number, to address the problem. ONDC CEO T Koshy stated that sellers have the right to explore multiple seller apps, but buyer apps prioritize more reliable listings. The ONDC network has facilitated 16.5 million orders since its launch.
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ONDC reaches 50,000 restaurants
IndianStartupNews
ยท
1y ago
Medial
The ONDC, backed by the Indian government, announced that its platform now hosts 50,000 restaurants available for order across 172 cities in India, a significant increase from the previous count of 500 restaurants in February 2023. ONDC's CEO, T. Koshy, highlighted the growth, emphasizing the role of Seller Network Participants (NPs) such as Magicpin, uEngage, and others in bringing restaurants on board. The initiative plans to double this count by year-end. Established in December 2021, ONDC aims to establish an interconnected digital commerce platform and has partnered with applications like Paytm for facilitating ordering services.
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AIC-BIMTECH partners with GCCI to take Indian startups global
YourStory
ยท
2m ago
Medial
AIC-BIMTECH and GCCI have partnered to help Indian startups enter global markets, providing access to international trade networks and learning opportunities. They will co-develop training programs, innovation forums, and business networking with a global perspective. The collaboration also seeks national and international funding for startups. AIC-BIMTECH, supported by the Ministry of Electronics and IT Start-up Hub and Atal Innovation Mission, has incubated over 400 startups. This partnership supports global business cooperation and startup ecosystem growth.
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Fintech players in various stages of onboarding: ONDCโs Koshy
Economic Times
ยท
1y ago
Medial
Fintech players like Aditya Birla Finance, Karnataka Bank, Tata Capital, Canara Bank, and Bajaj Finserv are integrating with the government-backed Open Network for Digital Commerce (ONDC), according to the CEO T Koshy. ONDC has specified protocols for financial sector players to onboard the network. The initial pilot involved providing small loans to individuals or proprietary concerns, with DMI Finance as the lender and Easypay as the buyer. Now, the entities are refining and scaling up operations, with more transactions expected in February. Other enterprises, including insurers and mutual fund companies, are also integrating with ONDC.
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ONDC Independent Director Arvind Gupta Steps Down
Inc42
ยท
21d ago
Medial
Arvind Gupta, an independent director and founding member of the Open Network for Digital Commerce (ONDC), has resigned after completing a three-year term. His exit marks another high-profile departure from the government-backed ecommerce network. Despite stepping down, Gupta remains a strong supporter of ONDC's mission and intends to continue supporting the network. This follows the recent resignations of ONDCโs managing director T. Koshy and chief business officer, Shireesh Joshi.
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India B2B's next big opportunity: Crossborder commerce
Internet
ยท
1y ago
Medial
India's export landscape is evolving, with significant growth in manufacturing and goods exports driven by the 'China+1' strategy and government incentives. This creates opportunities for startups, especially in cross-border B2B marketplaces, to support SMBs in accessing global markets. These marketplaces can streamline processes, improve supply chain management, and enhance the international trade experience for Indian exporters.
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Fintech startup AtoB to open Bengaluru R&D centre, expand global footprint
Economic Times
ยท
6m ago
Medial
Fintech startup AtoB, focused on the transportation industry, plans to establish an R&D center in Bengaluru to support its global expansion. CEO Vignan Velivela highlighted the companyโs aim to tap into Indian talent and expand beyond the US to international markets like Europe and Southeast Asia. Founded in 2019, AtoB modernizes payments in the commercial fuel and transportation sector. It has raised over $200 million and utilizes AI for transaction processing and risk modeling.
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Indian exporters log 25% order growth on year during Amazon's Black Friday-Cyber Monday sale
Economic Times
ยท
1y ago
Medial
Indian exporters saw a 25% growth in orders during Amazon's Black Friday and Cyber Monday sale, according to reports. This surge in demand highlights the increasing popularity of Indian products in international markets. The sale event served as a platform for Indian exporters to showcase their products and tap into a wider consumer base.
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