Indian govt-backed ONDC CEO Thampy Koshy resigns; his last day will be...

Thampy Koshy has decided to step down as managing director and chief executive of the Indian government-backed Open Network for Digital Commerce (ONDC) after working for three years.

Koshy joined in February 2022, and reportedly, his last day will be June 30, 2025. Until a new chief is named, a 10‑member board and an internal executive committee will guide day‑to‑day work, with Koshy staying on for three months for advise.

"As with any dynamic and evolving organisation, a leadership change is currently underway. Koshy has expressed his desire to step down while helping on with the change. The MD & CEO responsibilities have been transitioned to an executive committee with Koshy available to the board over the next 3 months for advise," ONDC said.

ONDC's growth

ONDC, which was launched in April 2022, is an initiative by the Department for Promotion of Industry and Internal Trade (DPIIT) aimed at democratizing digital commerce in India. It aims to create a level playing field for sellers, buyers, and service providers across India, particularly small and medium enterprises (MSMEs).

Notably, the project has logged more than 200 million transactions so far. While it took 20 months (January 2023 to August 2024) to reach its first 100 million transactions, it added another 100 million in just the last six months.

According to reports, the network has about 7,64,000 sellers and service providers across more than 616 Indian cities. It operates across segments including food and beverage, grocery, fashion, home and kitchen, electronics, financial services and mobility. However, ET earlier reported that ONDC has been witnessing a fall in orders as incentives to partners have been reduced.

Recent exits

Koshy's departure follows two other high‑profile exits. Chief business officer Shireesh Joshi resigned in March, and former UIDAI mission director R. S. Sharma left the non‑executive chair last December.

The turnover comes as ONDC tries to expand quick‑commerce deliveries, sachet‑size insurance and mutual fund products while fixing slower‑growing segments such as fashion and personal care.

Before joining ONDC, Koshy spent more than a decade each at EY and National Securities Depository Ltd. At ONDC, he often compared the network to the Unified Payments Interface, saying it would "democratise" e‑commerce by breaking platform monopolies and giving local sellers a larger market.