Advertising
From Pink Slips to Silent Sidelining: Inside adland’s layoff and anxiety crisis
ONDC increases marketing costs to Rs 91.73 crore in FY24
ONDC shares discounting costs or incentives that the network participants such as Ola, Magicpin, Paytm, and others offer to their end buyers
T.Koshy's final day at the company is June 30, 2025
The cost of 'marketing intervention' of government-backed Open Network for Digital Commerce (ONDC), including promotional campaigns has increased to Rs 91.73 crore in FY24, compared to Rs 3.27 crore in FY23, according to a report by Moneycontrol.
ONDC shares discounting costs or incentives that the network participants such as Ola, Magicpin, Paytm, and others offer to their end buyers.
Separately, ONDC has reduced the magnitude of its incentive payouts over the last few months.
As per the Moneycontrol report, ONDC has told its network players via memo that the maximum incentive each one claimed in October is Rs 40 lakh- an 84% decline from the maximum of Rs 2.5 crore.
The deficit of ONDC (term used for loss profit for non-profit companies) jumped from Rs 46.76 crore in FY23 to Rs 195.61 crore in FY24.
Citing a source, the report mentioned that the ONDC board is looking to devise a strategy to start earning revenues so that the network becomes self-sustainable.
ONDC raised Rs 569 crore from the issue of equity shares to RBL Bank and Canara Bank in FY24.
Several new-age firms such as Paytm, Ola, PhonePe, Meesho, Shiprocket, and Magicpin have taken to ONDC.
With ONDC, the government hopes to increase the penetration of e-commerce in the country, reaching a gross merchandise value of $48 billion.
SPOTLIGHT
From purpose-driven work and narrative-rich brand films to AI-enabled ideas and creator-led collaborations, the awards reflect the full spectrum of modern creativity.
Read More“Confusion creates opportunity for agile players,” Sir Martin Sorrell on industry consolidation
Looking ahead to the close of 2025 and into 2026, Sorrell sees technology platforms as the clear winners. He described them as “nation states in their own right”, with market capitalisations that exceed the GDPs of many countries.