INDIA: In the landscape of India’s digital transformation, few figures have left as indelible a mark as T Koshy. As the founding Managing Director and CEO of the Open Network for Digital Commerce (ONDC), Koshy spearheaded a groundbreaking initiative designed to democratize e-commerce, empowering small merchants and challenging the dominance of large platforms. His departure from ONDC in June 2025 marked the end of an intense three-year chapter, but it has only amplified his role as a global evangelist for digital public infrastructure (DPI).
Koshy’s journey began with academic excellence at the Indian Institute of Management Bangalore (IIMB), where he graduated in 1989. This foundation propelled him into India’s evolving financial and tech sectors. In 1996, he joined the startup team establishing the National Securities Depository Limited (NSDL), India’s first depository. This pivotal role helped dematerialize securities trading, fundamentally transforming capital markets by reducing paperwork, enhancing transparency, and boosting investor participation.
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Building on this success, Koshy contributed to several landmark national digital projects. He was instrumental in the Tax Information Network, which streamlined tax collection and compliance; online payment systems for direct and indirect taxes; the Central Recordkeeping Agency for pensions; automation initiatives for Special Economic Zones (SEZs); and foundational elements of the Goods and Services Tax (GST) framework. His expertise made him a trusted voice on committees for the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), and the Ministry of Finance.
Building Digital Foundations for Governance
Transitioning to consulting, Koshy joined EY as a Partner, where he drove large-scale digital transformations. His work included supporting the Unique Identification Authority of India (UIDAI) for Aadhaar implementation, the Electronic Vaccine Intelligence Network (eVIN), CoWIN for COVID-19 vaccination tracking, the GST Network, and the Digital Infrastructure for Knowledge Sharing (DIKSHA) platform for education. These projects showcased his ability to blend technology with public policy for societal impact.
Koshy’s international experience further enriched his perspective. He collaborated with multilateral organizations like the World Bank and the Asian Development Bank on social protection and identity programs across multiple countries. In India, he worked closely with visionary leaders such as Nandan Nilekani and Dr. R.S. Sharma, key architects of the country’s DPI ecosystem.
The pinnacle of Koshy’s career came with ONDC. Conceptualized as an open protocol-based network, akin to UPI for payments, ONDC aimed to create an interoperable e-commerce ecosystem. Sellers, buyers, logistics providers, and platforms could interact seamlessly without being locked into proprietary systems. Koshy, as founding MD and CEO from its inception in early 2022, led its rapid scaling. Under his stewardship, ONDC grew from a concept to a recognized force, onboarding millions of merchants and facilitating transactions across categories like food delivery, mobility, and retail.
The network’s achievements under Koshy were widely celebrated. It earned the National Award for e-Governance, the Gold Award for Application of Emerging Technologies in Citizen-Centric Services in 2024, CNBC-TV18’s Disruptor of the Year in 2023, Startup of the Year by India Digital Awards 2023, and Fintech Disruptor Company of the Year at the Global Fintech Awards 2023. These accolades underscored ONDC’s role in fostering inclusive digital commerce, particularly for micro, small, and medium enterprises (MSMEs).
In April 2025, ONDC announced Koshy’s decision to step down, with his final day in June 2025. An executive committee assumed interim leadership, and Koshy committed to supporting the transition. The move came amid other senior departures but reflected his expressed desire to pursue broader advocacy. No immediate permanent replacement was named, highlighting the strong foundation he had built.
Post-ONDC, Koshy has embraced a multifaceted role in advancing DPI globally. He serves as a Member of the International Advisory Group for the Centre for Open Societal Systems (COSS) at the International Institute of Information Technology Bangalore (IIITB), focusing on open systems for societal benefit. He advises the Ministry of Tourism on digital strategies, holds board positions in several companies as an independent director, and consults for Boston Consulting Group (BCG). Additionally, he supports international agencies in adopting DPI models and advises initiatives like Indonesia’s Open Network.
Koshy remains a sought-after voice on stages worldwide, having delivered keynote addresses at over 200 global events. His insights on open networks, governance, privacy in the AI era, and leadership in disruption continue to influence policymakers, entrepreneurs, and technologists.
His contributions have not gone unrecognized by his alma mater. In 2024, IIM Bangalore conferred upon him the Distinguished Alumnus Award (IIM DAA), honoring his transformative impact on India’s digital economy and beyond.
As India and the world grapple with building inclusive, resilient digital ecosystems, T Koshy’s trajectory from NSDL’s early days to ONDC’s disruption and now global evangelism offers a blueprint. His work demonstrates that true innovation lies not just in technology, but in designing systems that empower the underserved, foster competition, and scale for billions. In an era where digital infrastructure shapes economies and societies, Koshy’s legacy as a quiet architect of change endures.
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