Thampy Koshy, the managing director and chief executive officer of the Open Network for Digital Commerce (ONDC), is stepping down after a three-year tenure, leaving the 10-member board temporarily in charge of the organisation.
Koshy will remain in office until 30 June, and the board has no immediate plans to appoint a replacement, a source stated.
The Open Network for Digital Commerce is a government initiative aimed at enhancing online shopping. It seeks to make the digital commerce experience fairer, more convenient, and innovative. ONDC aims to eliminate the need for multiple delivery apps, simplifying online shopping for all.
Confirming Koshy's resignation, ONDC issued a statement: “Koshy has expressed his desire to step down while assisting with the transition. The MD & CEO responsibilities have been transferred to an executive committee, with Koshy remaining available to the board for advice over the next three months.”
“ONDC has experienced remarkable growth in under three years, surpassing 200 million transactions and making significant progress towards its goal of democratising e-commerce in India. As with any dynamic and evolving organisation, a leadership change is underway,” ONDC added.
The management changes come at a crucial juncture for ONDC. While it will continue to focus on eight major domains, including food and beverage, grocery, and financial services, ONDC is cautious not to spread itself too thin across categories, according to a third-party source.
Koshy previously served as an executive director at the National Securities Depository Limited (NSDL) for 14 years before joining EY, where he worked as a partner for over a decade.
Launched in December 2022 as a public infrastructure initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC was created with the aim of establishing an inclusive e-commerce platform that connects the entire country for broad economic participation. Its focus has been on dismantling e-commerce monopolies by standardising marketplaces, promoting local suppliers, and streamlining logistics.
ONDC has since sought to position itself as the 'UPI of e-commerce,' emphasising its role as a network rather than a platform. Last month, ONDC processed a total of over 1.6 crore orders.
ONDC has expanded its domains over the years and is now preparing to launch a new initiative to deliver groceries and other items within 30 minutes to two hours, as quick commerce continues to gain traction in the country. The organisation also announced its entry into sachetised insurance and investment products, such as mutual funds.
However, the journey has not been without challenges. ONDC has faced difficulties scaling non-food categories such as fashion, personal care, and grocery, highlighting the complexities of democratising e-commerce in a country where less than 10% of the population shops online.
(By arrangement with livemint.com)
