Innholdsfortegnelse for 2 April 2023 i Business Today

▶ FOR THE GLOBAL start-up and venture capital (VC) community, it was a chaotic weekend. After Silicon Valley Bank (SVB)—the trusted banking partner of the tech ecosystem—went down on March 10, with the Federal Deposit Insurance Corporation (FDIC) seizing its assets, scores of founders and investors who had hundreds of millions of dollars locked into deposits, scrambled to make sense of it all. There was panic as immediate working capital concerns pinched start-ups all over the world. At least a dozen India-born SaaS unicorns—and several other B2B start-ups—are headquartered in the US and have subsidiaries elsewhere in the world. Most early- to mid-stage start-ups typically put all their monies into SVB accounts as soon as they raise venture funding. According to the US-based VC body National Venture Capital Association, over…

▶ ’TIS THE AGE of short videos. Due to the declining attention spans of internet users, brands are increasingly relying on quick, snappy, audiovisual content on their social media channels to communicate with the target audience. As a result, short-video apps in India have exploded in the past few years. From home-grown apps such as Sharechat’s Moj, Dailyhunt’s Josh, MX Player’s Takatak, InMobi’s Roposo to global ones like Reels on Meta’s Instagram and YouTube Shorts by Google, Indians just cannot have enough of them. Studies estimate that more than 275 million users in India hop on to short-video apps every month, and spend roughly 33 minutes per day on them. Nearly two-thirds (66 per cent) of these monthly active users hail from Tier II+ cities, says a recent Redseer study.…

ANY COMPANY THAT has made a significant turn in its business journey would have a serendipitous moment to thank. For India’s biscuits market leader, the Bengaluru-headquartered, ₹14,000-crore (FY22 consolidated revenues) Britannia—a part of The Wadia Group—that moment came six years ago. Company chief Varun Berry was mulling the need to strengthen the non-biscuits portfolio, given how fast the country’s tastes were changing in an era of retail shelves stacked with a bewildering array of lip-smacking snacks. Berry, who had been Britannia’s boss for about two years at the time, recalled a gentleman that his erstwhile employer PepsiCo had partnered with in Mexico and Eastern Europe, a man with a formidable reputation in bakery snacks. “They [PepsiCo] had a partnership with him then, though I did not know him at all,”…

RAGHU RAI, WHO is in his early 30s, loves his job. The delivery executive has graduated to a scooter from a bicycle within two months of joining Zepto, a quick commerce start-up. “It’s a satisfying job where I get to meet different kinds of people. It’s thrilling, too, as I race against time to deliver groceries,” says Rai. Then there is Guddu Kumar, 24, a Swiggy Instamart delivery person who moonlights at Zepto. His day starts at 7 am when he dons the orange Instamart jersey and cycles through Byculla, Mahalaxmi, Lower Parel and Prabhadevi areas of Mumbai, delivering groceries. Come afternoon and Kumar undergoes a sartorial change—slipping into Zepto’s purple T-shirt. “Both jobs require me to work about seven hours and that seems doable since both have a solid…

The global covid-19 pandemic gave an upsurge in technological advancements for the treatment and diagnosis of patients, immunization as well as disinfection, and detection of disease. The adoption of AI and data management systems helps make hospitals smarter. One of the most exciting recent developments is the use of artificial intelligence (AI) in healthcare. AI is already being used to help doctors diagnose diseases and develop new treatments. In the future, AI will become even more important in healthcare, and will revolutionize the way healthcare is delivered. The data management system will help improve patient safety and quality care, as well as reduce the risk of errors and duplication. The pandemic forced people to stay at home and they were unable to visit any healthcare center for their regular checkups…

Today, Ruby Hall Clinic is among the leading healthcare institutions in the country. What were the pain points that you addressed to bring about this turn around Dr. Grant? Over the years, Ruby Hall Clinic has become a brand synonymous with quality healthcare. As a hospital, we’ve ensured we leave no stone unturned when it comes to being recognised as a healthcare organisation that provides high quality, technologically advanced compassionate care. We’ve had to overcome countless challenges to get to where we are. From increasing the bed capacity at the hospital to the launch of satellite centres across the city, from union wage settlements - which we can proudly say have been agreed upon undisputed to staying a breast of the latest medical trends and technological equipment; we have passionately…

Imagine a little boy in a lower middle class household in small town India to whom the entire concept of a “gift” was alien, to whom “cake” was something not even familiar on birthdays. About three decades later he not only became the founder of one of the fastest growing gifting companies in India, but also became an inspiration for many young people like him in small schools, small town with big dreams who redefine the rules of the game. Sujeet Kumar Mishra’s story and his journey with Winni is not a classical rag to riches tale but a story of a dream, courage, hustle, innovation, perseverance, vision and unflinching determination that led to Winni crossing the 100 Cr Rupees revenue mark in the FY2021-22 with a GMV of 300…

Amitavo Bhattacharyya has worked his way up the rungs. Starting his career as a Pharma Sales Executive, he has walked the street, pitched products to doctors and pushed the sales through the channels. Working with some of the best Pharma companies, he cut his teeth understanding the business of healthcare at the bottom of the pyramid, where the end consumer is. Proving his mettle at each of his assignments, he grew into roles that brought him closer to hospitals, the industry that is enjoying his passionate efforts and expertise. A B. Pharm graduate from Nagpur University, Amitavo had the right credentials for the healthcare industry. He went ahead to strengthen it further with an MBA (Hospital Administration) from Academy of Hospital Administration (AHA). This was further reinforced with a Lean…

POST-PANDEMIC DEMAND FOR COMPREHENSIVE HEALTH INSURANCE POLICIES THAT NOT ONLY COVER HOSPITALISATION BUT ALSO OPD EXPENSES, HAVE INCREASED OPD PLANS CAN BE BOUGHT AS A RIDER WITH THE MAIN HEALTH PLAN. THESE PLANS GENERALLY OFFER COVERAGE IN THE RANGE OF ₹5,000 TO ₹55,000 OPD PLANS OFFER VARIOUS OPTIONS RANGING FROM ONLY VIRTUAL CONSULTATIONS TO BOTH VIRTUAL AND PHYSICAL CONSULTATIONS, ALONG WITH PHARMACY AND DIAGNOSTIC BILLS SEVERAL PLANS OFFER CASHLESS SERVICES, WHERE ONE NEEDS TO BOOK AN APPOINTMENT WITH THE DOCTOR ONLINE, POST WHICH THE CLAIM CAN BE SETTLED THROUGH AN APP NEHA DIXIT, 33, is allergic to dust. Whenever she has an allergic reaction, her nasal passage swells up, giving her a runny nose, a sore throat and bouts of coughing. With her susceptibility to allergies, it is not uncommon for…

TEXTS YOU CAN TRUST The humble SMS or text message is a powerful weapon in the hands of phishers. It results in not just financial losses for customers, but also loss of reputation for telcos. To help telcos avoid such situations, Hyderabad-based cloud communications firm Tanla has unveiled Wisely ATP, an AI-powered anti-phisihing tool that evaluates an SMS, including the sender, message body, and CTA (call to action) to identify if the text message has been sent as phishing bait. If it determines the SMS to be phishing bait, it informs the telco and blocks the message. All this happens in just 20 milliseconds and is over 99 per cent accurate! AI-powered Tanla Wisely ATP keeps customers safe from phishing texts LIVING REALITY AR glasses have been around for a while,…

SOURCE WPL AND MEDIA REPORTS ₹6 CRORE The amount the winning WPL team will get in 2023 compared to the ₹20 crore received by the last IPL winner ₹951 CRORE Money spent by RIL-backed Viacom18 Media to secure the broadcast rights of WPL for the first five years 40-45 PER CENT Share of women viewers—both OTT and broadcast—in Indian Premier League 2022 that had a total viwership of 426 million…

▶ DEVELOPMENTS RELATED TO the Adani Group are generally quick and significant. If the decline following the publication of the Hindenburg report on January 23 was sharp—the group’s overall worth plummeted by more than $100 billion in just a matter of days—the recovery, partial as of now, has been equally swift. Shares of all 10 listed firms of the group are currently trading higher than their respective 52-week lows touched in February. For instance, shares of Adani Enterprises, at ₹2,039.65 on March 8, have more than doubled from their recent low. Experts attribute the recovery to several factors, including GQG Partners putting in over ₹15,000 crore and the Supreme Court bringing in clarity in terms of a time-bound probe into the allegations. “Post validation of the investor putting in over ₹15,000…

Biscuits contribute nearly 80 per cent to Britannia’s revenue, while other categories account for the rest. Over the next five years, the company wants to double its overall business and have a 50:50 split in revenue The strategy will continue to be one around adjacencies—from biscuits to more of baked snacks like rusk, cakes and croissants Britannia recently tasted success with croissants, where it successfully adapted an iconic European dish to suit the Indian palate. Its revenue from the business stands at ₹180 crore and is growing The company is now putting a major thrust on dairy, where success is limited. Setting up a factory in Maharashtra, followed by milk procurement, is expected to drive the value-added story for Britannia The management wants a good presence in salty snacks, but…

EXPLORATION A potential lithium deposit is identified, and geological surveys are conducted to assess the size, location and quality of the deposit DEVELOPMENT A mining firm is assigned to develop the site; this may involve building access roads, constructing buildings and infrastructure, and installing equipment EXTRACTION This involves extracting the ores from the mine using heavy machinery to dig underground or open-pit mines CONCENTRATION The extracted ore is processed to remove impurities and concentrate the lithium using physical or chemical methods, such as crushing, grinding, froth flotation, or dense media separation CONVERSION The concentrated lithium is converted into a more usable form, such as lithium carbonate or lithium hydroxide, involving a series of chemical reactions with additional processing and refining PURIFICATION The final step involves purifying the lithium product to remove any…

Quick commerce players promise to deliver anything from fresh tomatoes to toothpaste at a customer’s doorstep in a matter of minutes Powering such rapid deliveries are networks of dark stores that stock the items needed to fulfil the orders A dark store is generally a warehouse present in the heart of a city but it is not open to the public Carved out of shuttered buildings or gone-out-of-business stores, these allow players to not only save costs, but also reach deep corners of cities and even semi-urban areas Players such as Swiggy’s Instamart, Zomato’s Blinkit and Zepto are increasing their dark store count in a bid to expand reach, product portfolio and also to cut down on delivery times…

The Khanals, Sneh & Bhupendra, have built their company based on their love for life. The company has two major brands - Dogsee, a line of natural pet products and Himalayan Natives, a line of packaged health food for human consumption sourced from the serene Himalayan region. Dogsee is currently India’s best and most global Pet industry brand selling in over 30 countries, while Himalayan Natives is one of the most prominent health food brands in India in the ecommerce space. That apart, both brands are sold in over 3000 stores globally. Thanks to Bhupendra Khanal’s, Founder & CEO’, expertise in product innovation and business strategy Khanal Foods has gone to become one of most global Indian food companies within a short span of 8 years. He is responsible for…

Q: Storage has emerged as a big challenge. For the renewable energy sector, what is the bigger ask right now if this is not achieved? RAHUL WALAWALKAR, PRESIDENT & MD, CES (INDIA), AND PRESIDENT, IESA: On the storage side, we are very happy especially if you talk about the Budget. Many of the industry requests have been accepted by the finance ministry. One was the viability gap funding for gigawatt hours of storage, which will help many of the projects that are coming up this year. There is also immediate reduction of import duties for cells that can possibly be used for both batteries and electrical vehicles. There is one more thing, which is the rationalisation of GST. It was a big pending ask, because many times we keep on…

What was the problem you were grappling with? During one of my earliest sales stints back in 1994 in Punjab, I was working on a massive 12,000-unit order that required support from my immediate supervisors. However, despite having all the collaterals in place, there was a delay in the required support. While I had verbal approvals, the team was showing a lack of urgency, leading to last-minute hassles. Who did you approach for advice and why? Since I was unable to receive adequate support from my immediate supervisors, I had to jump the hierarchy and reach out to my super seniors for advice. However, I also feel that in such a situation, one must gather their thoughts and trust their own gut feeling to deal with the challenge at hand.…

▶ CITI INDIA CUSTOMERS can finally bank with Axis Bank. One year after the big-ticket Axis Bank-Citi retail assets transaction was completed, the country’s third-largest private sector bank is finally integrating the foreign bank’s operations. So, what exactly is Axis Bank gaining from the deal in which rival lenders like HDFC Bank and Kotak Mahindra Bank had refused to outbid the price (₹11,603-crore) it paid for the assets? For context, the addition to Axis Bank’s deposits is less than 5 per cent. But another part of the deal grows Axis Bank’s credit cards portfolio by 20 per cent and private and wealth management assets by over 33 per cent, with the employee count growing by less than 4 per cent. These figures, though, only scratch the surface of the deal.…

▶ FOOD DELIVERY MAJORS Zomato and Swiggy are not only intense competitors, they are also known to borrow a leaf or two from each other’s playbooks. Recently, Swiggy followed in the footsteps of Zomato by announcing its exit from the cloud kitchen infrastructure business. Zomato had exited the space in early 2020. Despite making substantial investments into what was once touted as a great opportunity, both companies seem to have drawn the curtains on their cloud kitchen plans. SoftBank-backed Swiggy has sold off its business, called Access Kitchens, to cloud kitchen infra operator Kitchens@as it looks to dispose of non-viable business verticals. The share-swap deal will see Swiggy becoming a stakeholder in Kitchens@. There are many challenges in the space—from cracking the low expenses and high-optimisation model, to diversification of…

ON FEBRUARY 10, 2023, when the Geological Survey of India announced the ‘discovery’ of lithium ore in Jammu & Kashmir, the whole country celebrated. After all, lithium is the fuel behind the fuel (batteries) of electric vehicles, smartphones and any other type of device that uses a rechargeable battery today. And India is importing most of its requirements from, guess who? China, of course. So, now, we have lithium in our own country! We can make our own batteries, save on our import bill, and do a lot of other things. Well, don’t pop the champagne just yet. For one, the lithium found in J&K was actually first discovered in 1999. And even though it is used in industries like speciality chemicals, glass, etc., India has continued to import the…

SWELLING RESEARCH COSTS and import dependency—two major afflictions that India’s pharmaceuticals industry seemed helpless against until a few years ago. Hopes were raised when the central government unveiled a production-linked incentive (PLI) scheme in the middle of the pandemic to foster domestic production of key import items such as active pharmaceutical ingredients (APIs), the raw material for making a drug. The pandemic had stifled global supply chains and exposed India’s heavy dependence on China for its pharma requirements. At a time when basic raw materials for drug-making became scarce because of the lockdowns, India’s PLI scheme was aimed at muscling up the domestic $50-billion pharma industry and ring-fencing it from Covid-19-like future black swan events and, in the bargain, reduce its dependence on China. However, things have not panned out…

ON AUGUST 15, 2020, in his Independence Day speech from the ramparts of the Red Fort, Prime Minister Narendra Modi not only lauded states for launching innovative and new policies, but also said that the need of the hour is a spirit of healthy competition among state governments, paving the way for India to reach new heights of development. “While the Centre and states may have different schemes, or different styles of working, dreams for a nation will remain identical,” the PM had said. “The Prime Minister’s clarion call for states is reflecting in some innovative policies brought by the states. There is a sense of cut-throat, yet healthy competition across all the states. From MSMEs to tourism, and from the innovation index to start-ups, every sector is seeing proactive involvement…

Bhavish Aggarwal, 37, the aggressive, straight-talking Co-founder & CEO of Ola, is currently a man on a mission: to make India a global leader in electric mobility. Two of his companies—ride-hailing venture Ola and electric mobility company Ola Electric—are in the midst of rapid scaling up. But EV two-wheeler market leader Ola Electric, with a range of scooters, an upcoming motorcycle range and plans for a car launch by next year, is where the bulk of the action is. In a freewheeling conversation with Business Today’s Sourav Majumdar, Aggarwal talks about his vision for the EV sector, his plans for the ride-hailing venture, and more. Edited excerpts: Q: Bhavish, to start off, give us an overview of where Ola stands at this point. A: I am very optimistic about India in general…

PN Gadgil and Sons is famous for its exquisite designs and impeccable craftsmanship and is especially known for its expertise in diamond and gold jewellery. With a top-notch design team that has a rich collective experience that spans decades, they hold an unique position in the minds of connoisseurs of Maharashtra. They virtually define the spirit of the Maharashtrian culture, preserving and defining it across generations. Whether it is natural diamonds, precious and semi-precious gemstones, gold, silverware, or polka, the brand has carved masterpieces out of all. While everyone does possess an inherent beauty, the jewellery crafted by this legacy brand promises to add lustre to one’s self and adorn the soul. A trusted legacy jewellery brand known for its highest levels of quality and purity, PN Gadgil and Sons…

Roma Priya is the founder of Burgeon Law - a prominent entrepreneur and lawyer who is making waves in the legal industry in India. Her firm Burgeon Law, a multi-service legal services firm, is dedicated and committed to supporting startup ventures, investors, and business innovators in India to reach their full potential (“Firm”). Her work in the innovation economy as one of the leading and specialized lawyers in India has garnered her recognition as one of Asia Legal Business India’s super 50 Lawyers of 2022 and as a notable female entrepreneur by Business World Disrupt in 2021. Roma’s passion for businesses and entrepreneurship led her to create a legal consultative arm that supports companies and offers guidance throughout their entire lifecycle, from their early foundation stage to their growth stage…

Q: On the critical role of finance in India’s energy transition towards a green, renewable and sustainable future… N. RAMESH, DEPUTY MD, INDIA EXIM BANK: For a financial institution, we need to first have clarity on how the price discovery has happened. I think India has demonstrated it in a wonderful manner and the whole world is also following that particular model. Further, on the offtake risk, there is an aggregation of demand and an assurance of payments coming in from government-led institutions, which is a great learning for the whole world. Then there are insurance products that are trying to cover different kinds of risks associated with this sector. I think whatever risk mitigation measures financial institution look for, they are all available. Just to explain the kind of complexity…