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New Delhi, Hyperlocal e-commerce startup <keyword id="3255375" type="General" weightage="20" keywordseo="magicpin" source="Orion">magicpin</keyword> in a pact with NCCF has started selling tomatoes for Rs 70 per kilogram through select online platforms registered on the government-backed ONDC, the company said on Friday. Consumers can order tomatoes through magicpin app, Paytm, PhonePe's Pincode, Mystore in Delhi-NCR and select few cities under the arrangement, it said in a statement. "We have witnessed an overwhelming response, delivering 1,000 orders across over 90 pincodes in Delhi-NCR in just 2 days. NCCF and ONDC's initiative aims to stand with the consumers during challenging times," magicpin CEO and Co-Founder Anshoo Sharma said. To cater to the needs of a larger consumer base, magicpin is offering a maximum purchase limit of 2 kilogram of tomatoes at Rs 140 per user per week and those will be delivered to the doorstep of consumers. "On behalf of the central government, cooperatives NCCF and NAFED are already selling tomatoes at Rs 70 per kg to retail consumers through mobile vans in Delhi-NCR and a few select cities," the statement said.

Magicpin sells tomatoes for Rs 70 per kilo through ONDC partners

Hyperlocal e-commerce firm magicpin has recorded 50 per cent month-on-month growth on the government-supported <keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword> network as it crossed 30,000 daily order mark on the platform, the company said on Friday. magicpin joined Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> about nine weeks ago in March end. "magicpin within the first four weeks of joining ONDC had scaled from 100 to 10,000 orders. By the fifth week, which was early last month we saw a massive leap to 20,000 daily orders, and now just another 4 weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just 9 weeks of joining the network," magicpin CEO and co-founder <keyword id="4538931" type="General" weightage="50" keywordseo="anshoo-sharma" source="Orion">Anshoo Sharma</keyword> said in a statement. Lightspeed Venture-backed e-commerce firm received orders from its own buyer app and through buyer apps of multiple platforms like Paytm and PhonePe's Pincode. magicpin is also building a Software-as-a-Service (SaaS) platform for the ONDC initiative. "With this SaaS platform, magicpin aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programs to SMEs, thus enabling them to compete with larger players in the market," the company said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ramkrishna-forgings-titagarh-rail-consortium-bags-12227-crore-order-from-railways/articleshow/101039655.cms">Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/with-gold-prices-hovering-at-near-highs-should-you-invest-in-the-yellow-metal-now/articleshow/101038839.cms">With gold prices hovering at near highs, should you invest in the yellow metal now?</a>

Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders

<ul><li>People are using <keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword> to order food at affordable rates.</li><li>ONDC is an open-source network that the government of India backs.</li><li>ONDC was first made available in Bengaluru.</li></ul>Zomato and Swiggy transformed the food delivery industry, enabling customers to satisfy their cravings with just a click. These two enterprises have been closely competing, frequently providing offers and discounts to their clients. Nonetheless, a fresh contender is gradually emerging in the food ordering arena, threatening the dominance of Zomato and Swiggy. The newcomer is the ONDC (Open Network for Digital Commerce), which is a government-supported platform. Currently, the ONDC service is only available in certain areas, including Bengaluru. The ONDC was launched in its beta format in September last year. Recently, the ONDC gained the attention of netizens when it was noticed that the platform offered grocery and food delivery services. <cmsannotation type="cmsannotation" annotationid="ONDC - Open Network for Digital Commerce" comment="subhead" text="ONDC - Open Network for Digital Commerce">ONDC - Open Network for Digital Commerce</cmsannotation> The Open Network for Digital Commerce is a private, non-profit organization created by the Government of India's Department for Promotion of Industry and Internal Trade. Its main objective is to develop open networks for e-commerce, which was established in April 2022. The network includes various small and large-scale e-commerce players and is designed to challenge the market dominance of large players in the market like Amazon and Flipkart in India. <cmsannotation type="cmsannotation" annotationid="How to order food on ONDC?" comment="subhead" text="How to order food on ONDC?">How to <keyword id="17366750" type="General" weightage="100" keywordseo="order-food-on-ondc" source="Orion">order food on ONDC</keyword>?</cmsannotation> ONDC does not offer its own app for food ordering. At present, customers can order food through the partner apps - Paytm and Magicpin. How to order food via Paytm? <ol><li>Open the Paytm app and click on the ‘search’ option.</li><li>Search for ONDC using the search option, and you will find an ONDC Store.</li><li>In the store, you will see a list of available dishes and restaurants.</li><li>Select the food item that you wish to order.</li><li>Add the address and make the payment.</li></ol>How to order food on Magicpin? <ol><li>Download and open the Magicpin app and select the food option.</li><li>Select the food that you wish to order.</li><li>Add the address and make the payment to confirm your order.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-launches-passkeys-for-hassle-free-login-to-gmail-and-youtube-without-a-password-heres-how-to-set-them-up/articleshow/99977103.cms">Google launches Passkeys for hassle-free login to Gmail and YouTube without a password - here's how to set them up</a> <a href="https://www.businessinsider.in/tech/news/apples-safari-is-the-worlds-second-most-used-and-least-vulnerable-desktop-web-browser/articleshow/99926825.cms">Apple’s Safari is the world’s second-most-used and least vulnerable desktop web browser, yet only 1% of Indians use it</a>

How to order food on ONDC: A step-by-step guide

<ul><li>Early stage venture capital firm <keyword id="387319" type="General" weightage="50" keywordseo="Antler" source="Orion">Antler</keyword> India partners with <keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword> to foster businesses that are built on a protocol and not a platform.</li><li>In a platform business, the winner takes it all while in a protocol-based business, the winner shares all.</li><li><keyword id="6362513" type="General" weightage="60" keywordseo="startups" source="Orion">Startups</keyword> designed to operate on ONDC will drive the next phase of unicorns in India that can also create economic value of $100 bn.</li></ul> The next set of unicorns are likely to be companies that are solving problems that are unique to India and based on protocols and not platforms and where the winner shares all rather than takes all. Solving problems for India requires solutions that are designed for scale rather than copycat business models that may have worked 20 years ago. Platform businesses have wiped out local businesses but the protocol based businesses will give these local businesses a new lease of life. ONDC and world’s largest venture capital platform Antler are working precisely on a plan that will spawn scores of new startups that are designed to democratise online commerce after digital payments. And to do this, the startup ecosystem has to bypass the existing platform thinking and think local. So far, ONDC has been onboarding sellers across sectors and enabling them to sell directly to their consumers without the gatekeepers that some platform businesses have become. But this may not be enough to bring India’s 100 mn small and medium businesses online. For a country that has issued 1.35 bn digital identities, clocks over $1.5 trillion UPI transactions in a year cannot have only 6% of its small businesses selling online. In a bid to solve India’s digital commerce problem, ONDC and the venture capital ecosystem has decided to create an ecosystem that will reimagine commerce through the filter of a protocol and not a platform. The question to ask is what is the need for a new protocol when platforms like Meesho, Amazon and Flipkart are there to offer a suite of services – logistics, discovery through online advertising and collecting payments. Clearly, this model is not working going by the abysmal number of small businesses that are selling online at the moment. <keyword id="514036" type="General" weightage="50" keywordseo="nitin-sharma" source="Orion">Nitin Sharma</keyword>, Partner &amp; Co-founder at Antler India, says that only 5-6% of the 90-100 mn MSMEs in India are participating in digital commerce. Only 15-20% are discoverable through online websites, social media like Instagram, Pinterest and Facebook. The internet of commerce requires reimagining commerce from ground up. Sharma says: “It is not just about capital, as a catalyst we are focused on content, community and capital. There are founders who are already identifying opportunities around ONDC, we want to help catalyse those ideas.” This new approach to commerce has to be decentralised, unbundled and interoperable. Today, sellers are unaware of where their consumers come from and who they are. What ONDC is gives businesses the freedom to choose their partners and take business decisions that are most effective for them economically. ONDC is striving to make online commerce cost effective for India’s small businesses. One of the reasons small businesses are not selling online is because their gross margins are at 30% or less, which makes it unviable for them to sell online given the commission structure of most platforms. The ONDC initiative has already gathered significant momentum since its launch, with over one lakh daily transactions across use cases. For instance, Namma Yatri, a ride-hailing app, has organically facilitated over 67 lakh auto rides and onboarded more than 16 lakh users and 85 thousand auto drivers without any marketing spend. It is perhaps time for a protocol and not a platform that allows businesses to thrive by enabling the ecosystem in a way that is fair to all. Those tracking listed and unlisted platforms may know that they often have run-ins with sellers or delivery partners for unfair trade practices. The ONDC network seeks to end this tussle by levelling the playing field. Antler in partnership with <keyword id="44604" type="General" weightage="50" keywordseo="nandan-nilekani" source="Orion">Nandan Nilekani</keyword>’s FIDE (Foundation for Interoperability in Digital Economy) and ONDC seeks to create an ecosystem that will spawn not just new startups that are designed to function on this protocol (Beckn and ONDC) but will also help refine ideas that have the potential to become enterprises. These businesses will not just become unicorns, but will also create more than $80-100 bn in economic value. ONDC promises to change the way India transacts online, bringing the next 500 million plus consumers and 90 million plus MSMEs online. Projected to create over $80 billion in value over the next five years and $200 billion over a decade, ONDC has the potential to be India's next startup catalyst. The platform will facilitate problem-solving sessions, office hours with prominent figures in the digital public infrastructure ecosystem, and potential fast-tracking to Antler India Residency for those seeking a founding team. The time is now ripe for a second round of disruption because the India stack has demonstrated that technology can solve problems of scale. The Antler-ONDC platform, therefore, is very important because it seeks to offer pre-seed capital of $300K and additional investment potential of up to $200K from key partners within its extensive network, including unicorn founders and strategic backers, for ready-teams with innovative ideas. Explains Sharma, “With the backing of Nandan Nilekani and the ONDC and FIDE leadership, we are getting in early and the hope is to expand the global opportunity for startups. There is a yawning gap between digital identities, digital payments and commerce. More than 400 founders have already applied under this programme. We are also creating a lot of content around this so that those founders who don’t have a business plan yet can also understand how it works and resolve problems.” What sets the Antler ONDC platform apart is its holistic approach to fostering entrepreneurship. They are committed to nurturing not only established teams but also early-stage founders and even those without a concrete idea yet. Their curated community of experts, operators, and influential network participants, such as Namma Yatri, Plotch.ai, SellerApp, Magicpin, and more, will be there to guide and mentor aspiring entrepreneurs. The platform will facilitate problem-solving sessions, office hours with prominent figures in the digital public infrastructure ecosystem, and potential fast-tracking to Antler India Residency for those seeking founding teams.

The ONDC platform has potential to create dozens of unicorns and $100 bn in economic value, says Antler’s Nitin Sharma

Reliance Retail-based <keyword id="3275685" type="General" weightage="80" keywordseo="dunzo" source="Orion">Dunzo</keyword>s B2B logistics arm, Dunzo for Business (D4B), on Thursday announced its partnership with the governments Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>) to provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are very happy to have a strong logistics provider like Dunzo for Business on the ONDC network. This partnership will accelerate our efforts to make last-mile logistics accessible to a wider audience of buyers and sellers across India," said T Koshy, CEO, ONDC. D4B's key merchants include Fynd, Wellness Forever, DotPe, EatClub and Magicpin, among others. "Starting our journey with key metros, we will scale our services to more cities and become the backbone for intra-city deliveries in the Indian e-commerce ecosystem", said Dalvir Suri, Co-founder, Dunzo, and Head of Dunzo for Business (D4B). Dunzo is present in the top eight cities in India and has over 10 million users. It is backed by <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, Google, Blume Ventures, Aspada Investments, LightBox Ventures, STIC Ventures and 3L Capital, among others. With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Dunzo earlier this year raised $240 million to expand its footprint in India.ONDC recently boarded Go Frugal, Paytm, Digit, PhonePe and Loadshare, among others. E-commerce platform Snapdeal is set to debut on ONDC this month.

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

With advancements in medical technology, novel diagnostic tools are emerging to facilitate early and accurate detection of <keyword id="24487" type="General" weightage="20" keywordseo="Alzheimers" source="Orion">Alzheimer's</keyword> disease, according to a report on Friday. Alzheimer's disease, a progressive neurodegenerative disorder, poses significant challenges to individuals, caregivers, and healthcare systems worldwide. Early detection plays a crucial role in managing the disease and improving patient outcomes. Researchers and medical device manufacturers have been working tirelessly to develop innovative solutions for early Alzheimer's detection, revealed the report by <keyword id="1670029" type="General" weightage="100" keywordseo="globaldata" source="Orion">GlobalData</keyword>, a leading data and analytics company. Prominent among these advancements is the development of blood-based biomarker tests, such as the recently introduced AD-detect blood test, amyloid beta biomarkers, tau protein biomarkers, and neurofilament light (NfL) Biomarkers. These groundbreaking tests detect specific biomarkers associated with Alzheimer's disease, providing a non-invasive and accessible method for early detection and monitoring of the disease progression. Leading pharmaceutical companies and research institutions are actively involved in clinical trials and studies to evaluate the effectiveness of these biomarker tests. The results so far have been promising, showing great potential for improving early diagnosis and intervention strategies for the neurodegenerative disease, the report said. "Early detection of Alzheimer's disease allows for timely interventions, including lifestyle modifications and potential treatment options, which can significantly impact the quality of life for individuals affected by the disease. The development of blood-based biomarker tests is a significant breakthrough in the field, offering a more accessible and convenient approach to detecting Alzheimer's at its early stages," said <keyword id="17233470" type="General" weightage="80" keywordseo="cynthia-stinchcombe" source="Orion">Cynthia Stinchcombe</keyword>, <keyword id="17367395" type="General" weightage="80" keywordseo="medical-analyst" source="Orion">Medical Analyst</keyword> at GlobalData, in a statement. "The advancements in diagnostic tools for early detection of Alzheimer's disease bring hope to millions of people worldwide. By increasing awareness, supporting ongoing research, and ensuring widespread access to these innovative diagnostic tests, we can make significant strides in improving the lives of those affected by Alzheimer's and moving closer to effective treatments," Stinchcombe added. The month of June is designated as Alzheimer's and <keyword id="17723100" type="General" weightage="50" keywordseo="brain-awareness-month" source="Orion">Brain Awareness Month</keyword>. It is dedicated to raising awareness about Alzheimer's disease, brain health, and supporting individuals and families affected by this condition. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ramkrishna-forgings-titagarh-rail-consortium-bags-12227-crore-order-from-railways/articleshow/101039655.cms">Ramkrishna Forgings-Titagarh Rail consortium bags ₹12,227 crore order from railways</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/e-commerce/news/magicpin-clocks-50-monthly-growth-on-ondc-with-over-30000-daily-orders/articleshow/101039648.cms">Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders</a>

More diagnostic tools for early detection of Alzheimer's underway: GlobalData

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings. "Moody's acknowledged the positives of the Indian economy. We are hopeful for a rating upgrade from Moody's," an official said after the meeting. Moody's Investors Service has a 'Baa3' sovereign credit rating on India, with a stable outlook. 'Baa3' is the lowest investment grade rating. Apart from highlighting India's ongoing economic reforms, government thrust on infrastructure development and forex reserves nearing USD 600 billion, government officials also questioned Moody's on its rating parameters. Officials from all economy-related ministries and Niti Aayog attended the meeting. India has long been questioning the methodology adopted by international agencies while according credit rating and has nudged them to become more transparent and less subjective. It has been pitching for amendment in sovereign credit ratings methodology saying it should reflect economies' ability and willingness to pay their debt obligations. Moody's representatives discussed the government's disinvestment roadmap and officials highlighted that disinvestment should be seen from the prism of reform and not just revenue generation exercise. In June 2020, Moody's downgraded India's rating to 'Baa3' from 'Baa2' with a negative outlook, citing weak reform push and slow growth. In October 2021, the outlook on the rating was revised to stable. The government had largely met its fiscal objectives over the past two years. The fiscal deficit, which is the difference between government expenditure and revenue, narrowed to 6.4 per cent of GDP in 2022-23 fiscal, from 6.7 per cent of GDP in 2021-22 fiscal. In the current fiscal, the deficit is budgeted at 5.9 per cent of GDP. As per the fiscal consolidation roadmap, the government intends to bring down the fiscal deficit below 4.5 per cent of GDP by 2025-26. Last month, two other global rating agencies <keyword id="30287" type="General" weightage="20" keywordseo="sp" source="Orion">S&amp;P</keyword> and <keyword id="82981" type="General" weightage="50" keywordseo="fitch" source="Orion">Fitch</keyword> had kept India's rating unchanged at 'BBB-', with a stable outlook. All three global rating agencies - Fitch, S&amp;P and Moody's - have the lowest investment grade rating on India, with a stable outlook. The ratings are looked at by investors as a barometer of the country's creditworthiness and impact borrowing cost. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/e-commerce/news/magicpin-clocks-50-monthly-growth-on-ondc-with-over-30000-daily-orders/articleshow/101039648.cms">Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/more-diagnostic-tools-for-early-detection-of-alzheimers-underway-globaldata/articleshow/101042437.cms">More diagnostic tools for early detection of Alzheimer's underway: GlobalData</a>

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Magicpin sells tomatoes for Rs 70 per kilo through ONDC partners

PTI

Magicpin clocks 50% monthly growth on ONDC with over 30,000 daily orders

PTI

How to order food on ONDC: A step-by-step guide

Rahul Verma

The ONDC platform has potential to create dozens of unicorns and $100 bn in economic value, says Antler’s Nitin Sharma

Malini Bhupta

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

IANS

More diagnostic tools for early detection of Alzheimer's underway: GlobalData

IANS

India pitches for a rating upgrade with Moody's, questions rating methodology

PTI

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