Microsoft gives ONDC its first Big Tech push

 Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce( ONDC) . 

ONDC is a Government initiative for developing a open network for digital commerce. Microsoft intends to introduce social e-commerce via its app in the Indian market this year.

ONDC is expecte to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine tuning before rollouts in other cities. It already has a large number of merchants from the city on the platform.

The network is currently in the pilpt phase in 36 cities across the country and has already onboarded nine platforms and is in an advanced stage of development of adding another 17.

ONDC has garnered interest from various other platforms, which including telecom majors and banks. The network began its pilot on april 29 in Delhi, Bengaluru, Coimbatore, Bhopal and Shillong and is in the process of adding more cities before a nationwide launch.

₹157 crore raised for the network from 17 banks and financial institutions 

ONDC intends ₹7.5 trillion targeted gross merchandise value of digital transactions over the next 5 years. It is ₹4.5 trillion currently. 2 million retailers on digital commerce platforms in the next five years. 250 million e commerce users over the above mentioned period from 90 million now.