e-commerce
ONDC names Vibhor Jain MD and CEO; Rohit Lohia joins as CBO, Manoj Thakur as CTO
Leadership formalised as open commerce network sharpens focus on scale and user value
The Open Network for Digital Commerce has formalised Vibhor Jain as managing director and chief executive officer, cementing a leadership transition at India’s ambitious open commerce platform as it pushes for scale and relevance.
Jain, who had been serving as acting chief executive officer since April last year following the exit of Thampy Koshy, steps into the role with effect from 7th April , according to a report by The Economic Times. He previously served as chief operating officer at the government-backed network, which enables buyers and sellers to transact across applications through an open, interoperable system.
Setting out his strategy, Jain underscored the network’s differentiated architecture. “Going forward, we are concentrating on what open, interoperable infrastructure can uniquely enable, things that no single platform has the incentive or the architecture to do,” he said.
He added that the immediate priority is to widen ONDC’s impact across user cohorts often underserved by platform-led commerce. “My priority is to deepen the value ONDC creates for the people it exists to serve: kisaans, karigars, kiranas, gig workers, first-time investors, and daily commuters across India,” he said.
Jain also flagged leadership reinforcement within the organisation, noting that ONDC has “a strong and exciting leadership team in place”, with Rohit Lohia joining as chief business officer and Manoj Thakur as chief technology officer.
With over 18 years of experience spanning entrepreneurship and consulting, Jain brings a track record in technology-led, large-scale transformation programmes and internet businesses. At ONDC, he has been closely involved in shaping strategy and operations as the network seeks to move digital commerce away from platform-centric models towards an open network approach.
Before ONDC, Jain worked with JUMO, where he helped set up the fintech firm’s India operations, and led the India launch of Mobike, handling regulatory, policy and operational aspects of its market entry. Earlier, he co-founded Atlanta Healthcare, an air quality management company, and spent more than a decade in consulting roles at Andersen and EY, advising governments on public policy and technology-driven reforms, including work on the Aadhaar programme and tax systems.
The mandate is clear but the path is complex. As ONDC attempts to rewrite the rules of digital commerce, Jain now carries the burden of turning open architecture into mass adoption, in a market still dominated by platform power.
e-commerce
Visa report tracks rise of India’s affluent, experience-led spending
Affluent base doubles to 130 lakh, travel 58 per cent of elite spends.
MUMBAI: In India’s new luxury playbook, it’s less about owning more and more about living better. A new whitepaper by Visa Consulting and Analytics (VCA) maps a decisive shift in India’s affluent economy, where spending is becoming more intentional, experience-led, and closely tied to personal identity rather than pure income growth.
Titled India’s Affluent Economy 2025–2026, the report draws on a Visa-commissioned Yougov study and VisaNet data across travel, dining, retail and lifestyle categories. The headline number is hard to miss: individuals earning over Rs 10 lakh annually have nearly doubled from 69 lakh to 130 lakh, significantly expanding the country’s discretionary spending base.
But it’s not just about scale, it’s about behaviour. As consumers move up the affluence ladder, discretionary categories are taking a larger share of credit card spends, positioning cards as key enablers of premium, lifestyle-driven consumption.
The geography of wealth is shifting too. Affluence is no longer confined to metros such as Mumbai, Delhi and Bengaluru, with cities like Ahmedabad, Surat, Jaipur and Lucknow increasingly mirroring metro consumption patterns.
The report highlights a clear pivot from ownership to access. More than 50 per cent of affluent consumers now use cards for elite memberships, while 7 in 10 are drawn to limited-edition drops and curated collections. Increasingly, luxury is defined by seamless access be it concierge-led travel or curated dining where time saved is as valuable as money spent.
Spending patterns reinforce this shift. Among the ultra-elite, travel accounts for 58 per cent of discretionary spends, far outpacing retail and luxury combined at 28 per cent. Cross-border spending penetration stands at 63 per cent, signalling a growing global outlook among India’s affluent.
Closer home, indulgence is becoming routine. Nearly 4 in 5 affluent consumers dine at premium establishments at least three times a year, while 1 in 4 visit luxury venues more than five times annually. Dining spends are also climbing, with Rs 20,000 emerging as a new entry-level benchmark per experience and Rs 50,000 marking premium territory.
Retail, meanwhile, is becoming more selective. Three in four affluent consumers make a high-end purchase at least once a quarter, while one in four shops premium every two weeks. Luxury retail intensity is also rising, with 2 in 5 consumers spending over Rs 5 lakh annually, and a smaller but significant segment exceeding Rs 10 lakh.
Technology and wellness are carving out new roles in this ecosystem. High-end gadgets now see average spends of Rs 60,000 or more per purchase, while ultra-elite consumers are eight times more likely to visit spas and show five times higher engagement with cosmetic stores than non-affluent groups.
The broader takeaway is structural. Affluent consumers are no longer buying products, they are buying ecosystems. Integrated experiences across travel, dining, wellness and payments are becoming central to how this segment lives and spends.
As India’s affluent base expands beyond metros and aligns more closely with global consumption patterns, the real opportunity lies not just in size, but in speed. For brands, the message is clear: relevance will be defined by how early and how seamlessly, they plug into this evolving lifestyle economy.
