vensriram,
XML is used for electronic data interchange. Just because it is not called EDI, does not mean that it cannot be used to perform the same function.
However, the EDI standards that you mention also include some very sophisticated schemata. In a sense, the "language" of EDI is very simple, but the specifications are the schemata that define the data being exchanged.
So, if you say that XML is the "language", and that a DTD or (other schema) defines the data being exchanged, you have an XML implementation of EDI.
Case in point - the U.S. Internal Revenue Service uses XML to communicate tax return information. Not only does the IRS require well-formed XML from on-line tax preparers, it also communicates these documents internally. If you go to their web site and search a little bit, you'll find the schema documents. They're quite complex.
So....in a sense, the IRS has used XML to build a roll-your-own EDI. Of course, the schema changes every year, reflecting changes in the tax law. But that part is just mechanics.
The important thing to recognize is that you cannot send an arbitrary XML document to the IRS. Tax returns must strictly conform to the schema of the year being reported; any deviations will cause the automated systems to reject the document. In a sense, a malformed document is like sending a random byte stream and calling it EDI - you can send the data, however the recipient will refuse the document.
Cheers!
Oralloy