ONDC can generate a $250-300 billion worth GMV by 2030: Report
Redseer Strategy Consultants, in collaboration with Nandan Nilekani, has launched a report titled “The Impact of DPIs on the Indian Internet Economy”. From what it’s understood, the report states the inception of India’s digital public infrastructure since its Aadhar days, details its impact on sectors of the economy, and outlines the way forward for the technology.
According to an official release, India’s current DPI landscape has provided 97% of the population with a digital ID, facilitated Direct Benefit Transfer (DBT) to 900 million beneficiaries till date, and has given 40% of 1.2 billion population access to banking facilities. It’s believed that the landscape is currently expanding beyond the JAM trinity (Jan Dhan, Aadhar, Mobile), with properties such as Ayushman Bharat Health Account (ABHA), DigiLocker 2.0, Open Network for Digital Commerce (ONDC), Account Aggregator (AA), Digital Infrastructure for Knowledge Sharing (Diksha), among others. Reportedly, DPIs have not just impacted governance but also the private sector, especially startups, by adding over $100 billion in value across multiple sectors of the Indian Internet economy.
Additionally, the DPI landscape is believed to have also boosted gaming monetisation by 20-25%, bringing in $27 billion in transaction value to the online gaming industry. Sources suggest that the launch of UPI Autopay in 2021 has also revolutionised payment collection for subscription-based platforms such as OTT, insurance, financial services, telecom and media.
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