Empowering the Taxi Service Industry: ONDC’s Pathway to Impactful Change
???? Prabhu Elangovan
#PrabhuTalks - Tech Enabler ?? IIM Indore & Alumni ? ?? Building Digital Public Infrastructure (DPI) ?? Innovation & Digital Transformation ??| Emerging Technologies ??| AVP @ Protean | Ex. RBIH, EY, NPCI etc
India’s Open Network for Digital Commerce (ONDC) is revolutionizing the country’s digital public infrastructure, creating a ripple effect across various industries, including the taxi service sector. This blog delves into the current impact of ONDC, its success stories in food and e-commerce, the burgeoning transaction volumes, and the transformative opportunities it presents for the taxi service industry.
ONDC’s Role in Digital Public Infrastructure
ONDC has emerged as a pivotal component of India’s digital public infrastructure, fostering innovation, competition, and inclusion. It is a testament to India’s commitment to building a competitive digital economy that empowers every individual and business to transact paperlessly and cashlessly. The COVID-19 pandemic underscored the importance of digital public infrastructure for a well-functioning economy and citizen well-being.
Success Stories in Food and E-commerce
The ONDC platform has shown phenomenal growth in the food delivery market, challenging the dominance of established players like Zomato and Swiggy. It has also made significant strides in the e-commerce sector, providing an open and inclusive network where buyers and sellers can connect directly, empowering small businesses and promoting a level playing field.
Transaction Volumes and Digital Inclusion
ONDC is on a mission to dramatically increase e-commerce penetration in India by enabling population-scale inclusion of all types and sizes of sellers. With the adoption of ONDC protocols by companies like Flipkart, Paytm, and Amazon, the network has processed nearly 7 million orders, growing to more than 370,000 sellers and service providers across a significant portion of Indian cities.
source : Internet
Opportunities in the Taxi Service Industry
The Indian taxi aggregator market, currently led by giants like Ola and Uber, is on the cusp of a significant transformation. The Open Network for Digital Commerce (ONDC) promises to be a game-changer in this domain. With Ola holding a 59% market share and Uber at 41%, the entry of ONDC could herald a new era of competition and cooperation.
ONDC’s vision is to create a unified platform that allows local travel providers to compete on an even footing with established players. This initiative could dismantle the current duopoly and foster a vibrant ecosystem where choice and accessibility are paramount. The potential benefits of such a system are manifold. For consumers, it means more options, better prices, and the empowerment that comes with it. For local providers, it represents a chance to scale operations and reach a wider audience without the prohibitive costs of marketing or technology development.
The impact of ONDC on the taxi aggregator business could be profound. By leveling the playing field, it encourages innovation and improves service standards across the board. Moreover, it could significantly enhance the daily lives of millions of city dwellers by providing more efficient and cost-effective travel options.
As we stand at the threshold of this new digital dawn, it’s clear that ONDC is not just about technology; it’s about shaping the future of urban mobility in India. The journey ahead is exciting, and the destination promises to be transformative for all.
In conclusion, ONDC is not just transforming the taxi service industry but is reshaping the entire landscape of digital commerce in India. It stands as a beacon of digital democratization, offering unprecedented opportunities for growth, innovation, and inclusion. As ONDC continues to evolve, it promises to unlock new horizons for the taxi service industry, challenging incumbents and fostering a more dynamic and equitable market.
? Disclaimer: The views expressed in this post are solely my personal opinions!
Building Passdn | DST Fellow | Ex-Wadhwani Foundation | Tech Products | Content-Led-Growth | AI Explorer.
9 个月Thanks for sharing insightful details We are also trying to build some good products on ONDC, currently focusing on the Mobility sector only.
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9 个月Hey ???? Prabhu Elangovan, As you rightly pointed out Urban mobility is a challenge which ONDC will address in near future. I also think that India's urban mobility is only part of the problem in mobility sector. in the current scenario, it is still manageable with #ola and #uber and maybe just plain better public transport (we do not give enough importance to it). The larger challenge which ONDC ecosystem can definitely work towards is last mile connectivity for the movement of people and goods esp goods.