Thampy Koshy, managing director and CEO of the Open Digital Trade Network (ONDC), resigned after a three-year term, with the board of directors composed of 10 members who were temporarily in charge of the agency, both of whom know about it. Mint.
A third person knew about this problem under anonymity.
ONDC confirmed this development, “Koshy expressed his hope to step down while making the change. The MD& CEO responsibilities have been transferred to the executive committee and Koshy can be provided to the board for advice over the next 3 months.”
ONDC added: “ONDC has witnessed significant growth in three years, exceeding 200 million transactions and has made progress towards its mission to democratize e-commerce in India.
This is a month after ONDC Chief Commercial Officer Shireesh Joshi resigned for personal reasons. UIDAI’s former missionary bureau RS Sharma resigned as ONDC’s non-executive chairman in December and stepped down from office after four months of service. Economic times.
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Manage changes are key points in ONDC. The third person quoted above said that while it will continue to focus on eight major areas including food and beverages, groceries and financial services, ONDC is not cautious about not spreading too thin in the category.
Koshy served as executive director of National Security Deposit Co., Ltd. (NSDL) for more than a decade before joining EY consulting company EY as a partner.
India’s digital business backbone
ONDC began in December 2022 as a public infrastructure program for the Ministry of Promoting Industry and Internal Trade (DPIIT), with the aim of establishing an all-inclusive e-commerce platform that provides the public with the goal of connecting the entire country for broad economic participation. To this end, it focuses on breaking the e-commerce monopoly by standardizing the market, promoting local suppliers and simplifying logistics.
After that, it wanted to position itself as a “UPI of e-commerce”, emphasizing its role as a network rather than a platform. Last month, ONDC recorded more than 16 million orders in March alone, according to reports from its LinkedIn post.
Over the years, ONDC has expanded its territory. Mint October reportedly reported that as the country quickly trades in 30 minutes to two hours, a new plan is launched to provide groceries and other items within 30 minutes to two hours. In August, ONDC announced its entry into small insurance and investment products such as mutual funds.
But the journey is not without obstacles. It strives to expand some non-food categories such as fashion, personal care and grocery stores, highlighting the complexity of democratizing e-commerce in countries with less than 10% of the population online stores.
Some network participants have also reportedly readjusted their ONDC strategies by exiting the bad zone. Dayments App Phonepe also took out non-food categories in addition to ticket reservations that were not retained at the beginning of last year.
However, Koshy clarified that the network enables brands to choose their growth strategies based on their strengths.
“The network was formed to empower democratize, not socialism,” Kochi said. “The enterprise can choose categories based on its bandwidth and expertise. Just because something might not work for a player doesn’t mean it means it’s for failure.”
Please read also: Open platform for e-commerce can change India’s economy
