T Koshy steps down as CEO of ONDC after completing three-year tenure

The government-backed Open Network for Digital Commerce (ONDC) has announced that its MD and CEO, T Koshy, has stepped down following the completion of his three-year tenure at the company.

ONDC is an initiative of the commerce and industry ministry to help small retailers expand their business and reduce the dominance of e-commerce giants.

It aims to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform.

"Koshy has expressed his desire to step down," ONDC said in a statement.

The MD and CEO responsibilities have been transitioned to an executive committee.

According to an official, the process to select a new CEO and MD would be initiated soon.

ONDC offers small retailers an opportunity to provide their services and goods to buyers across the country through an e-commerce system, where buyers are able to purchase products that are sold on any platform.

It is not an application, platform, intermediary or software but a set of specifications designed to foster open, unbundled, and interoperable open networks.

Incorporated on December 31, 2021, ONDC is a Section 8 (not for profit) company.