WHAT ARE ONDC'S TRANSACTION TARGETS?
ONDC aims to raise e-commerce penetration in the next two years to 25% of India's consumer purchases, from nearly 8% now, in a country of 1.35 billion people.
It also hopes to sign up 900 million buyers and 1.2 million sellers on the shared network within the next five years, while achieving gross merchandise value of $48 billion.
The government estimates that India's e-commerce market was worth more than $55 billion in gross merchandise value in 2021 and will grow to $350 billion by the end of this decade. Currently, Amazon and Walmart's Flipkart control more than 60% of the market
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