New Delhi, April 10 : T Koshy, the founding Managing Director and CEO of the government-backed Open Network for Digital Commerce (ONDC), has stepped down from his role.

An executive committee will now take charge of the e-commerce platform going forward. ONDC confirmed the development in a statement and said that the organisation is currently going through a leadership change.

'ONDC has witnessed remarkable growth in under three years, surpassing 200 million transactions and making strong strides toward its mission of democratising e-commerce in India. As with any dynamic and evolving organisation, a leadership change is currently underway,' it said.

The company added that Koshy had expressed his desire to step down, but he will continue to assist during the transition phase.

He will be available to the Board over the next three months in an advisory capacity. In the meantime, the responsibilities of the Managing Director and CEO have been handed over to the executive committee.

'The roles of MD and CEO have now been handed over to an executive committee, while Koshy will remain available to the Board in an advisory role for the next three months,' the statement added.

It also said that ONDC continues to perform well and is progressing steadily towards achieving its key milestones.

Launched in 2021, ONDC is a government-supported initiative aimed at making digital commerce more inclusive and accessible, especially for smaller players.

It is a not-for-profit organisation (NGO) that provides a standardised platform for sellers, logistics providers, and payment gateway operators to voluntarily join and offer their services.

Meanwhile, the government-backed firm announced last month that it has officially crossed the 200 million transaction mark, further cementing its position as a transformative force in India's digital commerce space.

According to the company, it took nearly 20 months -- from January 2023 to August 2024 -- to complete the first 100 million transactions.

However, in just the past six months, ONDC has added another 100 million -- a rapid surge in adoption.

/IANS