Council takes guidance after the Ondc chief t Koshy decreases to the 3-year stint | Company Business News

Thampy Koshy, the managing director and CEO of the Open Network or Digital Commerce (UNDC), retired after a three -year stop from his role, leaving the board of directors who temporarily in charge of the body, two people with knowledge of the development, told Mint. The last day of Koshy is June 30 and the board has no immediate plans to find a replacement, a third person with knowledge of the matter on condition of anonymity said. UNDC confirmed the development, saying: “Koshy expressed his desire to retire while helping with the change. The responsibilities of the MD and CEO were switched to an executive committee with Koshy that has been available to the advice advice for the next three months.” “In less than three years, UNDC has seen remarkable growth, which has exceeded 200 million transactions and made strong progress in the mission to democratize e-commerce in India. As with any dynamic and developing organization, a leadership change is currently underway,” Ondc added. It comes a month after the UNDC chief business officer, Shiresh Joshi, resigned after three years with reference to personal reasons. Rs Sharma, a former Uidai missionary director, retired as the non-executive chairman of Ondc in December last year after serving four months, according to a report by the Economic Times. The management changes come to an important point for UNDC. Although it will continue to focus on 8 major domains that include food and beverages, groceries and financial services, ondc is careful not to spread itself too thinly over categories, the third person cited above. Koshy was an executive director at the National Security Depository Limited (NSDL) for 14.5 years before joining the consultant firm EY as a partner for more than a decade. In December 2022, India’s backbone for digital trade began as a public infrastructure initiative by the Department of Promotion of Industrial and Internal Trade (DPIIT), and was formed for the purpose of creating an all-inclusive e-commerce platform that connects the public purpose to the entire country for wide economic participation. For this purpose, it focused on breaking monopolies of e-commerce by standardizing market places, promoting local suppliers and streamlining logistics. He has since wanted to position himself as the ‘UPI of e-commerce’, with an emphasis on its role as a network rather than a platform. Last month, Once A total of more than 16 million orders recorded in March alone, according to the LinkedIn post. Ondc has expanded its domains over the years. Mint reported in October that it is ready to carry out a new initiative to deliver groceries and other items within 30 minutes to two hours as rapid trade in the country becomes popular. In August, INDC announced its entry into sachetized insurance and investment products such as mutual funds. But the journey was not without obstacles. It struggled to set up some non-food categories such as fashion, personal care and groceries, which underlines the complexity of democratization of e-commerce in a country where less than 10% of population stores emphasize online. Some network participants have also aligned their ondc strategies by pulling away from not performing areas. Payments App Phoneepe drew from non-food categories early last year, except for unconditional ticket bookings. However, Koshy has made it clear that the network empowers brands to choose their growth strategies based on their strengths. “The network is formed to empower democratization, not socialism. Firms may choose categories depending on their bandwidth and expertise. Just because something for one player doesn’t work does it mean it is built to fail,” Koshy said. First Published: 10 Apr 2025, 09:11 AM IST