Walmart-owned Flipkart has been going through a significant leadership transition amid ambitions for a public listing. According to reports, at least four executives have resigned from their posts, including three other VPs and a senior vice president (SVP).
Anurag Singhvi, VP and head of analytics; Prajakta Kanaglekar, VP and head of human resources; Ankit Jain, SVP and head of grocery and major supply chain; and Ganesh Ramaswamy, VP and chief product and technology officer at Cleartrip, have all reportedly left Flipkart.
According to the article, Jain is expected to take over as SVP of Swiggy Instamart, replacing Sairam Krishnamurthy, who is currently the chief operating officer of the fast commerce company.
Executives Left Without Any Future Plan
Jain worked with Flipkart till May 2025, according to his LinkedIn page. He began working for the Bengaluru-based company in 2019 and has held a variety of leadership positions for over five years.
He joined Flipkart from the massive FMCG company Unilever and has over 20 years of professional expertise. The future plans of Kanaglekar, Singhvi, and Ramaswamy—all of whom have worked for Flipkart for more than five years—are unclear.
According to the aforementioned report, people might try to start their own companies or develop startup concepts. The rumour that Jain will join Swiggy Instamart coincides with intense competition in the rapid commerce space and Flipkart’s gradual ascent to prominence.
India’s Quick Commerce Space has Become the Centre of Attraction
According to Flipkart Minutes, the company has increased the number of its dark stores to 300 across over 14 cities, with aspirations to reach 800 by the end of 2025. With over 500 million users, it aims to provide Blinkit, Zepto, and Swiggy Instamart banking with fair competition.
At the conclusion of the March quarter, however, Swiggy Instamart had 1,021 dark stores overall, having added 316 in the fourth quarter of FY25 alone. Swiggy’s ambitions to grow exponentially are having a negative financial impact.
In Q4 of FY25, its consolidated net loss increased 95% year over year to INR 1,081.2 Cr. In addition, the fast commerce vertical of the foodtech giant recorded an adjusted EBITDA loss for Q4 FY25 of INR 840 Cr, up 45.3% from INR 578 Cr in the previous December quarter.
Nonetheless, the operating revenue of the rapid commerce vertical increased 19.5% from INR 576.5 Cr in Q3 to INR 689 Cr in Q4. Jeyandran Venugopal, the chief product and technology officer at Flipkart, also quit earlier this year, citing personal reasons.
According to reports, Flipkart, the massive e-commerce company owned by Walmart, intends to restrict the growth of its Flipkart Minutes rapid commerce division to the top six to eight cities in order to minimise capital burn.
The top eight cities account for over 90% of quick commerce volumes, with Bengaluru, Mumbai, and Delhi NCR accounting for the majority of this, where Flipkart is expanding with Minutes.” Flipkart Minutes operates a network of over 300 dark stores, or micro warehouses, and is now available in 14 locations.
It is a competitor to Amazon Now, Swiggy Instamart, Zepto, BigBasket’s BB Now, and Eternal-owned Blinkit. According to a media report, the goal is to grow this up to about 500–550 by October.
Flipkart Carefully Spreading its Wings
As a result of this action, Flipkart is now approaching growth more cautiously, similar to Swiggy, whereas Eternal is growing rapidly regardless of immediate financial gain. In the meantime, Flipkart wants to reach 500–550 customers through its dark shop channel before this year’s “Big Billion Days” promotions.
However, analysts at broking firm HSBC Securities noted in a research note on May 12 that it is also under pressure to cut its continuous cash burn of about $40 million per month in half over the next few quarters in an effort to launch its IPO.
The company’s intention to move its headquarters from Singapore to India in preparation for an IPO in 2026 was approved by Flipkart’s board last month. Nearly a year after Flipkart got $350 million from Google as part of a $1 billion fundraising round headed by Walmart, the domicile shift procedure was started.
More recently, Flipkart invested INR 3,248.9 Cr in Flipkart Internet, its marketplace division, through its Singapore holding company. Flipkart has established new alliances despite limiting its goals for rapid commerce expansion.
In order to introduce its smartphone line on Flipkart’s e-commerce platform and its Minutes rapid commerce sector, French smartphone manufacturer Alcatel formed a “retail” agreement with the company in April. Flipkart’s collaboration with Alcatel coincides with the Competition Commission of India’s scrutiny of the company’s exclusive product releases with OEMs such as Xiaomi and Samsung.
Flipkart’s Financial Outlook
The internet giant and competitor Amazon were found guilty by the watchdog’s internal investigation last year of breaking antitrust laws by favouring specific vendors on its platforms and engaging in aggressive pricing practices.
Flipkart is concentrating on enhancing its financial performance as it gets ready for its public launch. Flipkart Internet’s losses decreased 41% to INR 2,358 Cr in FY24, while its sales increased 21% year over year to INR 17,907.3 Cr.
According to its financial report, the company’s advertising earnings in FY24 exceeded its marketplace fees. The industry is one of the fastest-growing in India, with a 37% compound annual growth rate (CAGR) predicted to reach $40 billion or more by 2030, according to a report published by a media house. In 2024, more than two-thirds of all online grocery orders were placed through quick commerce.
In an effort to automate internal procedures and reduce repetitive work, IBM has started substituting AI agents for some of its HR (human resource) employees. As the internet giant increasingly relies on AI-powered solutions, Arvind Krishna, the company’s CEO, recently claimed that “a couple hundred” HR personnel’ jobs have been replaced by AI.
This type of action also represents a trend in which businesses are increasingly depending on AI to optimise internal procedures, hence decreasing their reliance on physical labour. Although IBM has not provided a timeframe, rumours indicate that some 200 positions have already been phased out.
Other Departments Witnessing Hiring Spree
It’s interesting to note that the corporation is not shrinking in general just because HR positions are being reduced. The overall number of employees at IBM has increased, with more people being hired in divisions like software engineering, marketing, and sales—areas where interpersonal, problem-solving, and human interaction are still essential.
Arvind Krishna clarified in an interview with a well-known media outlet that automating some processes has allowed funds to be allocated to other projects.
He added that although IBM has made significant efforts to apply AI and automation in some enterprise processes, he said that overall employment has increased since it allows for greater investment to be made in other areas.
AI Gaining Traction in the Tech Sector
In the tech industry, the usage of AI agents—software tools that can do tasks like data sorting, emailing, or processing internal requests—is rapidly gaining traction. Although there hasn’t yet been a significant wave of AI-related job losses, some businesses are halting hiring until they determine the best way to apply the technology.
These AI agents are already being deployed at IBM to manage staff transfers and perform employment verification. HR employees used to complete them by hand. The change doesn’t necessarily mean that jobs will disappear completely, according to Nickle LaMoreaux, chief human resources officer at IBM.
She stated, “Very few roles will be completely replaced.” AI will probably replace repetitive tasks instead, freeing up workers to concentrate on tasks requiring judgement and decision-making. IBM is now providing new AI services to its clients in addition to reorganising its internal teams.
The company revealed tools this week at its annual Think conference that enable companies to create and manage their own AI agents. These tools are intended to complement current platforms from companies such as Microsoft, Amazon, and OpenAI.
IBM predicts that within five years, about 7,800 positions, or over 30% of non-customer-facing roles, might be automated. This does not, however, mean that everyone will lose their jobs. Employees are expected to learn how to deal with AI tools as most roles change.
Zerodha, one of India’s leading stockbroking platforms, has achieved a significant milestone. Recently, the company was featured on the iconic Nasdaq Tower in Times Square, New York, celebrating its remarkable contributions to the open-source community. This global recognition highlights the company’s outstanding achievements in the fintech sector and its growing influence in the world of trading and investments.
The Open-Source Foundation of Zerodha’s Operations
Zerodha’s success is deeply rooted in its adoption and advocacy of Free and Open Source Software (FOSS), which underpins its platform used by nearly 2 crore Indians. CEO Nithin Kamath acknowledged FOSS as instrumental in enabling Zerodha to manage over INR 6 lakh crore in client assets and drive nearly 15% of India’s daily retail trading volumes. Beyond usage, Zerodha actively contributes back by open-sourcing internal tools, launching a $1 million annual fund to support global FOSS projects, and co-founding FOSS United to promote open-source in India.
This commitment shows a broader mission: to strengthen the global tech ecosystem through collaboration, transparency, and innovation.
Changing the Landscape of Indian Trading
Zerodha has redefined trading in India, offering a low-cost, efficient, and user-friendly platform. Over the years, the company has introduced several groundbreaking features like the Kite trading platform, which offers seamless and fast execution of trades. Zerodha’s user-friendly interface and educational initiatives, such as Varsity, have made it easier for millions of Indians to understand and engage with the stock market.
The Global Recognition
The display of Zerodha’s name on the Nasdaq Tower represents not only a personal achievement for the company but also a larger recognition of the growing influence of Indian fintech globally. It is a proud moment for the company, as it highlights Zerodha’s position at the forefront of the global financial services industry.
Zerodha’s Founder and CEO, Nithin Kamath, shared his excitement about this recognition on his social media, “It feels nice to see @zerodhaonline being recognized for our contributions to open source. 😀”
As Zerodha celebrates this remarkable achievement, it remains focused on expanding its reach and improving its services for the Indian market. With a commitment to innovation, customer satisfaction, and ethical business practices, Zerodha is all set to continue its growth and further establish itself as a leader in the fintech sector.
In a recent LinkedIn post, Kamath highlighted, “It wouldn’t be an overstatement to say that 4th Cross JP Nagar is a hotbed of FOSS activity in India along with Broking!” With its continued focus on technology, customer empowerment, and open-source development, Zerodha’s future looks bright as it continues to revolutionise the financial landscape.
Due to a network capacity shortage brought on by cybersecurity exercises held in the wake of the India-Pakistan conflict, fintech giant PhonePe had an outage on 12 May when it came to processing Unified Payments Interface (UPI) transactions.
For more than an hour on the same day, users and industry stakeholders reported that the PhonePe app was unable to access India’s real-time payments system, UPI.
The disruption happened when the Bengaluru-based company started using a new data centre to process all of its transactions for disaster recovery (DR) exercises. Transaction problems were caused by a network capacity deficiency that was revealed by a larger amount of UPI transactions on Monday night.
Drills were Part of Cybersecurity Measures
The purpose of the drills was to test the network firewall’s cybersecurity features. According to Rahul Chari, co-founder and chief technology officer (CTO) of PhonePe, the company started active disaster recovery drills at PhonePe with increased cybersecurity measures on its network firewall because of the conflict’s intensification last week.
A new data centre was handling all of the firm’s traffic that evening across all of its services. Sadly, a network capacity shortage was revealed by 12 May night’s peak traffic, which caused transactions to begin failing. The confrontation between India and Pakistan was followed by these active drills.
For the payments network to operate smoothly in such cases, stronger cybersecurity precautions are needed. A top industry executive went on to say that the disruption was exclusive to PhonePe and that there was no downtime on the UPI network itself.
Paytm Became the Front-Runner
Vijay Shekhar Sharma, the founder of Paytm, claimed in a post on the social media site X that on May 12, the Noida-based company’s application was operating without hiccups and handling twice as many transactions as usual.
Paytm’s UPI payments are operating without a hitch, Sharma continued. The Paytm app is operational at twice the usual volume. Users experienced four disruptions in recent weeks when attempting to process UPI transactions in March and April.
In an effort to lessen these interruptions, the National Payments Corporation of India (NPCI) released two circulars last month that included application programming interface (API) recommendations. While the second circular provides guidance on how to stop the abuse of APIs related to real-time payments, the first circular concentrates on decreasing response times for four APIs.
With over 864 crore transactions handled in March—nearly half of all UPI traffic—PhonePe was the leader of the UPI ecosystem. Google Pay came next, although Paytm is still widely used, especially by local merchants and small companies, despite having a lower volume.
This most recent issue coincides with government efforts to encourage small sellers to use UPI, including a INR 1,500 crore incentive programme for BHIM app ecosystem usage.
Almost a month after market regulator SEBI prohibited them from holding important roles within the firm, Gensol Engineering Ltd said on May 12 that Anmol Singh Jaggi, the managing director, and Puneet Singh Jaggi, the full-time director, had resigned.
In his letter of resignation, Anmol Jaggi stated that he would be leaving his position as Managing Director of Gensol Engineering Limited effective May 12, 2025, at the end of business hours. Additionally, he announced his resignation in response to the directive issued under the SEBI Interim Order on April 15, 2025.
He would want to use this occasion to express his gratitude to the whole Board, the Management Team, and the Company’s workers for their cooperation and support throughout his tenure.
SEBI Putting a Tight Scanner on the Firm
Gensol Engineering Limited filed a challenge against the April 15 SEBI judgement, but the Securities Appellate Tribunal did not provide any relief last week. Sebi implemented several strict actions as a result of governance failures, including banning Gensol and its promoters, the Jaggi brothers, from using the securities market until further notice.
The Jaggi brothers were also prohibited from holding any important management or directorship positions inside Gensol. Between FY22 and FY24, Gensol obtained INR 977.75 crore in loans from PFC and IREDA. INR 663.89 crore of the loan was intended to buy 6,400 EVs. However, according to supplier Go-Auto, Gensol acknowledged purchasing just 4,704 EVs for INR 567.73 crore.
Since Gensol was also expected to provide 20% of the equity, the total expenditure should have been INR 829.86 crore, leaving INR 262.13 crore unaccounted for.
Legal Argument Between Sebi and Gensol
Gensol contended at the SAT hearing that the Sebi order was issued without a hearing and claimed that this resulted in a “tremendous loss of business”. The business claimed that its activities were in danger of contract cancellations and possible loan defaults as a result of the freeze on its demat account and the continuing forensic audit.
Sebi retorted that Gensol had deceived investors, lenders, and regulators by forging payback certificates on state-run banks’ letterheads. Ireda and PFC, who have both filed complaints with the Economic Offences Wing disputing that they ever issued any such certificates, backed up these accusations.
An investigation into Gensol and BluSmart Mobility has also been launched by the Ministry of Corporate Affairs.
Inappropriate Usage of Funds
According to the Sebi investigation, money intended for EV purchases was frequently diverted back to Gensol or organisations connected to the Jaggi brothers.
A portion of the money went towards the promoters’ personal needs, including buying a fancy flat, giving money to close family members, and making investments in their own private companies.
According to officials, the corporate affairs ministry has mandated an investigation into the suspected violations of companies law by Gensol Engineering and BluSmart Mobility, two companies that are currently facing a crisis.
In the meantime, it is anticipated that the Institute of Chartered Accountants of India (ICAI) would finish reviewing Gensol Engineering Ltd’s and BluSmart Mobility’s financial accounts within six months. The two companies’ financial statements for the fiscal year 2023–2024 are being examined by ICAI’s Financial Reporting Review Board (FRRB).
According to a media report, Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services, have contributed a combined $100 million to Zepto, a startup in the fast commerce space.
The company, Motilal Oswal, is getting ready to spearhead a $250 million secondary share offering in Zepto in addition to his personal commitments. Hero FinCorp and Edelweiss Financial Services are also anticipated to take part in the round.
The money raised would go towards buying shares from current foreign investors. General Catalyst, Nexus Venture Partners, StepStone Group, Y Combinator, Goodwater Capital, and Glade Brook Capital are some of the current foreign investors in Zepto.
The Move is Aligned with Zepto’s Strategy to Increase Domestic Ownership
The action is a component of Zepto’s continuous plan to boost domestic ownership. Prior to its anticipated public listing, the company has been actively pursuing its goal of becoming a 75% Indian-owned business.
Zepto wants to adhere to investor and regulatory preferences that support local ownership in strategically significant industries by enabling secondary transactions between foreign and domestic investors. Additionally, this fundraising comes after Motilal Oswal Private Wealth led a $350 million first capital round in November 2024, which kept Zepto’s valuation at $5 billion.
High-net-worth individuals and Indian family offices participated in that round. Additionally, it is Raamdeo Agrawal’s second investment in Zepto, following his $15 million personal investment in October 2024 and his unannounced August investment.
Traxcn data shows that Zepto has raised $1.95 billion in ten financing rounds to date. Zepto raised $665 million in a Series F investment in June 2024, which was the company’s highest funding round to date.
The Present State of the Quick Commerce Industry in India
According to industry data, the rapid commerce business in India has expanded by 280% in the past two years, and the top three companies, Blinkit, Zepto, and Swiggy Instamart, have combined to generate over $1 billion in revenue for FY24.
This occurs as Indian businesses are stepping up their rapid commerce solutions. Amazon India is getting ready to debut its rapid commerce service, Tez, while Myntra recently introduced M-Now for 30-minute- to 2-hour deliveries.
E-commerce and other retail formats are being disrupted by quick commerce, which, according to a recent Bernstein analysis, is expanding more quickly than contemporary retail chains like Reliance Retail, Dmart, and Spencer Retail. This is one of the reasons why consumer platforms are responding to the shift by preparing to deliver a variety of goods outside of groceries in 10–20 minutes.
JSW One Platforms emerges as one of the fastest entrants to the unicorn club in India’s B2B e-commerce space.
JSW One Platforms Ltd., India’s leading tech-led B2B e-commerce platform, has raised INR 340 crore of fresh capital, led by Principal Asset Management, OneUp, JSW Steel, and other investors. This round brings the company’s valuation to $1 billion, earning it a coveted unicorn status.
This milestone marks a valuation jump of over 3x from its earlier round of funding in April 2023, a testament to the platform’s strong product-market fit, resilient supply chain, and rapid business execution in just four years.
The capital raised will strengthen national supply chain leadership in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and NBFC arms, and enable wider access to credit for MSMEs. This will be enabled by building a robust tech stack that creates a truly integrated and digital procurement journey for small businesses.
By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country.
Parth Jindal, Chairman, JSW One Platforms, said, “JSW One Platforms is more than a marketplace, it’s how India’s MSMEs procure, finance, and grow. We’re solving critical pain points by combining our tech-led distribution model with JSW Group’s strength in manufacturing. We are well-positioned to fulfil the ambitions of India’s expanding MSME sector.”
Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, added, “JSW One’s goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions. This capital allows us to expand our service network, scale our private brands and NBFC arm, and invest further in tech and logistics. We’re building a supply chain that will continue to add efficiency for MSMEs across India.”
In April 2023, JSW One raised INR 205 crore in funding from Japan’s Mitsui & Co., which helped scale its credit and logistics capabilities and expand into new markets.
JSW One Valuation Journey
About JSW One Platforms
JSW One is a tech-first B2B e-commerce platform built to serve India’s construction and manufacturing MSMEs with a comprehensive suite of offerings ranging from procurement and credit to fulfilment and private brands. The platform leverages the JSW Group’s deep expertise in steel and cement, alongside proprietary technology and financing tools, to deliver an end-to-end digital experience.
Justdial has developed into a one-stop shop for many consumers looking for information about different goods and services in the technologically advanced world of today. Justdial connects millions of people with nearby companies through its huge database, which serves a wide range of industries. Justdial business plan focuses on expanding local search services, increasing user engagement, and growing revenue through premium listings and advertising.
V.S.S. Mani created the Indian search services company Justdial in 1996. After earning a Bachelor of Commerce degree, Mani’s business adventure started with the goal of giving customers thorough information about goods and services. Despite having few resources, Mani persisted and established the groundwork for Justdial, which is today a vital aspect of many Indians’ lives.
Initially, Justdial was a phone-based local search engine that let users call and ask questions about different local companies. Justdial moved to an online platform with the introduction of the internet, opening up its services to a wider audience. Currently serving a diversified customer base, Justdial provides a wide range of services via its website, mobile app, and phone services, from e-commerce to local search.
Let’s say someone owns a repair shop and offers auto repair services in a specific location in order to comprehend Justdial’s business strategy. A person who offers auto repair services wants the people in the neighbourhood where he operates to be aware of his business. He will therefore pay Justdial a certain fee, and they will list his company on their site. By doing this, the concerned party will be able to obtain more leads from Justdial subscribers.
Simply said, Justdial charges a certain amount of money to companies that want to list on its site. Businesses that offer a certain amount are listed on Justdial, and prospective clients can contact them by visiting Justdial.
Because of the listings on their platform, Justdial, which has been in the listing business for years, has a large database of businesses. Businesses realise the benefit of being included; thus, the company has successfully turned the database entries into paid advertisements. Justdial has increased its search users by putting a lot of effort into its marketing and brand image. Businesses received leads as more people began using the listing services.
Justdial Business Model Canvas
How Justdial Makes Money | Justdial Revenue Model
The core of Justdial’s business strategy is giving its users thorough, trustworthy, and simply available information about its goods and services. The business makes money in a number of ways.
Generating Revenue Through Listing and Advertisement: Justdial makes money by connecting companies with consumers who are interested in their goods or services and supplying them with qualified leads.
Generating Revenue Through Lead Generation: To improve their visibility and draw in new clients, nearby companies can purchase premium listings and ads on Justdial’s platform.
Generating Revenue Through E-commerce: Users can buy goods and services directly through Justdial’s platform, thanks to its e-commerce offerings. Every transaction generates a commission for the business.
Justdial Financials
Reliance Retail-owned Justdial had a strong Q3 FY25, with net profit jumping 42.7% year-on-year to INR 131.5 crore, up from INR 92.1 crore in the same period last year. However, compared to the previous quarter, profit dipped 14.3% to INR 153.52 crore.
Justdial posted its highest-ever quarterly revenue, with net operational revenue at INR 287.33 crore, up 8.4% YoY and 0.9% QoQ.
Including other income of INR 77.41 crore, the company’s total income for the quarter stood at INR 364.74 crore.
EBITDA also showed strong growth, up 43.4% YoY to INR 86.6 crore, with the EBITDA margin improving to 30.1%, compared to 22.8% a year ago.
USP of Justdial
Just Dial’s extensive database, easy-to-use design, multi-platform accessibility, and trustworthy information are among its distinctive selling points.
Just Dial SWOT Analysis
Justdial SWOT Analysis
Strengths
It offers details and a prompt, dependable response.
It has a large customer base and was one of the first to enter the market.
The platform gains credibility and trust by including user-generated reviews and ratings. It assists users in selecting a business with greater knowledge.
Weakness
Global online giants like Google and niche service platforms like Zomato and Practo are fierce rivals to Justdial. These businesses are well-established in the market and possess significant resources.
A sizable amount of Justdial’s income is generated by companies purchasing premium listings and advertising. Because of this, the business may be more susceptible to shifts in the economy and in advertising trends.
Opportunity
There is a chance for Justdial to expand its offerings beyond local search. This can entail adding more e-commerce functionality, growing into new areas, or offering value-added services like scheduling appointments.
Adopting cutting-edge technology like artificial intelligence (AI), machine learning, and data analytics can improve search results’ accuracy and user experience.
Threats
Technology is advancing so quickly that it may create new rivals or upend established business strategies. Remaining competitive requires staying ahead of technology advancements.
Justdial’s activities may be impacted by modifications to laws or policies pertaining to internet companies, data privacy, or advertising practices.
Conclusion
The success of Justdial is proof of the value of tenacity and creativity. V.S.S. Mani, the company’s creator, had an idea for a platform that would give consumers immediate access to thorough information about a range of goods and services. Despite many obstacles, Mani’s perseverance resulted in the creation of Justdial, which is now a vital tool for millions of Indian users.
All things considered, Justdial’s large database and powerful brand recognition are important advantages; yet, in order to be competitive, it must keep an eye on changing industry trends and technology developments. Long-term success will also depend on service diversification and ongoing innovation.
Justdial is a local search engine platform that provides information about businesses, products, and services across India. It connects consumers with businesses.
How does Justdial make money?
Justdial primarily generates revenue through advertising and business listings. They offer various advertising packages to businesses.
How does Justdial benefit consumers?
Justdial provides consumers with a convenient way to find information about local businesses, compare prices, read reviews, and connect with businesses directly.
How Justdial works?
Justdial works as a local search engine where users can find businesses and services near them. You search for something, and it shows contact details, reviews, and options to call or book directly.
Is Justdial profitable?
Yes, Justdial is profitable. In Q3 FY25, the company reported a net profit of INR 131.5 crore, which was a 42.7% increase year-on-year.
Why do people call Justdial?
People call Justdial to quickly find local businesses and services, such as restaurants, doctors, plumbers, or salons. It provides instant access to contact details, addresses, user ratings, and reviews. Many also use it to compare service providers, book appointments, or get recommendations, making it a handy helpline for everyday needs.
India’s food service industry has seen a massive boom in the last decade, thanks to rapid urbanization, rising disposable incomes, and a growing appetite for dining out. The organized food sector in India is estimated to touch INR 7.76 trillion by 2028, and food franchises play a significant role in this upward trend.
Food franchising in India is one of the most lucrative options for entrepreneurs. It combines low risk with high returns, brand trust, and operational support. From QSRs (Quick Service Restaurants) to dessert kiosks, food trucks, and cloud kitchens, franchise formats are evolving fast to suit diverse investor profiles.
In this article, we will provide you with a list of the top food franchise business opportunities for 2025. This will allow you to make an informed decision regarding the franchise arrangement that best suits your business goals and aspirations.
What is a Food Franchise & How Does It Work in India?
A food franchise is a business arrangement where a brand (franchisor) allows an individual or group (franchisee) to operate under its name in exchange for a fee.
Here’s how it works in India:
The franchisor grants the rights to use its brand, recipes, and business model.
The franchisee invests capital and pays royalty fees to the franchisor.
The franchisor provides end-to-end support, training, marketing, supply chain, and operations.
This model is ideal for aspiring entrepreneurs, especially those with limited budgets, as it offers lower risk and strong brand backing from day one.
Food franchises are booming in India thanks to a blend of economic growth, evolving lifestyles, and changing food habits. Here’s why they’re so popular:
Rising Incomes & Urban Lifestyles
As disposable incomes grow and urbanisation expands, more Indians are spending on convenient, high-quality food, fueling demand for quick-service outlets and premium dining.
Convenience is King
Busy schedules and app-based living have made quick, accessible meals a necessity. Platforms like Swiggy and Zomato have further boosted delivery-friendly franchise formats.
Global Trends, Local Flavours
Health foods, plant-based menus, and regional fusions are hot. Franchises that blend global food trends with Indian tastes are especially in demand.
Low Risk, High Support
Franchises offer tried-and-tested business models with strong brand recall. Plus, franchisors provide full support, from training to marketing, making it a safer bet for investors.
12 Profitable Food Franchises to Apply For
Franchise
Category
Domino’s Pizza
Pizza Chain
Subway
Sandwich & QSR
Bikanervala
Indian Sweets & Snacks
KFC
QSR – Chicken
Barbeque Nation
Casual Dining
Haldiram’s
Indian Restaurant
Biryani Blues
Biryani Chain
The Belgian Waffle Co.
Dessert Kiosk
Wow! Momo
Momos & Snacks
Rolls Mania
Fast Food – Rolls
Chai Point
Tea Café & Vending
Giani’s
Ice Cream & Desserts
List of 12 Most Successful Food Franchise Brands in India
Domino’s Pizza
Founded in India
1996 (Jubilant FoodWorks)
Franchise Unit
1,500+
Investment
INR 50 Lakhs–70 Lakhs
Domino’s – Profitable Food Franchise in India
Domino’s is the king of pizza in India. Backed by Jubilant FoodWorks, the brand offers a rock-solid franchise model with detailed SOPs, tech integrations, and powerful marketing. While the investment is higher, the brand pull and revenue potential are unmatched. Plus, delivery-focused models make it suitable for urban high-density areas.
Subway is the world’s largest sandwich chain and a healthy fast-food alternative. It offers a low-cost franchise model suitable for kiosks, food courts, and compact outlets.
Subway’s India menu includes vegetarian and Jain options, which appeal to diverse urban consumers. Franchise support includes location analysis, training, and a centralized supply chain.
Bikanervala
Founded
1950
Franchise Unit
150+
Investment
INR 70 Lakhs–2.5 Crore
Bikanervala – Profitable Food Franchise in India
Bikanervala is a trusted Indian brand offering sweets, snacks, and full meals. It caters to both casual dine-in and takeaway formats, making it flexible for investors.
Its franchise model includes help with store layout, staff training, branding, and raw material supply. The brand’s traditional roots and strong NRI customer base make it a profitable choice.
KFC
Founded
1995
Franchise Unit
600+
Investment
INR 1–2 Crore
KFC – Profitable Food Franchise in India
KFC is a leading QSR brand in India, especially among Gen Z and millennials. Known for its crispy fried chicken, KFC has a strong brand recall and presence in high-traffic locations.
The franchise model includes standardized kitchen equipment, extensive training, and marketing support. With aggressive expansion in metro and tier-1 cities, it offers high ROI potential.
Barbeque Nation
Founded
2006
Franchise Unit
200+
Investment
INR 1–2 Crore
Barbeque Nation – Profitable Food Franchise in India
Barbeque Nation is India’s premier live grill dining chain. It’s ideal for investors who want to enter the casual dining segment with a proven concept.
The brand provides complete backend support, menu curation, chef training, tech systems, and marketing. Though capital-intensive, the returns are equally impressive for high-footfall urban locations.
Haldiram’s
Founded
1937
Franchise Unit
400+
Investment
INR 50–70 Lakhs
Haldiram – Profitable Food Franchise in India
Haldiram’s needs no introduction. From snacks to sweets and full-fledged restaurants, the brand caters to traditional Indian tastes with modern systems.
Franchisees benefit from massive brand recognition, a robust supply chain, and diversified revenue streams. It’s a safe bet for legacy food investors.
If there’s one dish that Indians can’t resist, it’s biryani. Biryani Blues taps into this craving with authentic Hyderabadi-style biryani.
The franchise model is designed for rapid scalability. Their training includes kitchen management, hygiene protocols, and standard recipes. For cities with a love for spicy food, this is a goldmine.
The Belgian Waffle Co.
Founded
2015
Franchise Unit
200+
Investment
INR 15–20 Lakhs
Belgian Waffle Co – Profitable Food Franchise in India
Known for its pocket waffles, Belgian Waffle Co. is one of the most profitable dessert franchises in India. Its compact outlets and kiosk-friendly model mean lower operational costs and high footfall.
Franchisees receive centralized supply, tech-enabled billing, and branding support. With millennials and Gen Z hooked, it’s a dessert revolution worth betting on.
Wow! Momo
Founded
2008
Franchise Unit
600+
Investment
INR 8–20 Lakhs
Wow! Momo – Profitable Food Franchise in India
Wow! Momo is India’s leading QSR specializing in momos and Tibetan snacks. It’s one of the fastest-growing food brands, with stores in malls, high streets, airports, and even cloud kitchens.
Franchisees get support in site selection, marketing, staff training, and procurement. The ROI is fast, with minimal wastage and high demand for affordable fast food. With aggressive expansion plans in 2025, it’s a smart pick.
Rolls Mania
Founded
2009
Franchise Unit
150+
Investment
INR 15–25 Lakhs
Rolls Mania – Profitable Food Franchise in India
With India’s love for kathi rolls, Rolls Mania taps into fast food cravings with a robust menu and quick service. It’s perfect for small spaces and food courts.
Their franchise includes centralized supply, training, and 360-degree support, making it an ideal choice for first-time investors.
Chai Point
Founded
2010
Franchise Unit
100+ (Company-operated model, now exploring partner outlets)
Investment
INR 30–50 Lakhs (for kiosk or store-in-store formats)
Chai Point – Profitable Food Franchise in India
Chai Point is one of India’s leading tea retail chains, redefining how chai is consumed by busy professionals across cities. Known for its clean, tech-enabled outlets and signature chai-on-tap dispensers, the brand is expanding through its Shops-in-Shops and Vending Machine (VMS) models.
Though Chai Point traditionally operated through company-owned outlets, it has begun offering partnership opportunities in select formats like express kiosks and institutional vending. Franchise partners get access to its proprietary brewing tech, supply chain, and established brand trust.
Giani’s is one of India’s oldest ice cream and dessert chains. From sundaes to kulfis and faloodas, their outlets are always buzzing.
It’s a low-cost, high-return investment with strong consumer loyalty. The brand also helps with store setup, training, and social media promotions.
Key Factors to Consider Before Investing in a Food Franchise in India
Before stepping into a food franchise investment, keep these essential points in mind:
Brand Strength: A trusted, recognizable brand draws in customers faster and builds credibility.
Franchise Support: Look for brands that offer solid training, setup help, and operational guidance.
Consumer Demand: Choose a franchise that aligns with trending tastes and regional preferences.
Profitability: Assess the ROI, break-even timeline, and long-term earning potential.
Strategic Location: Pick a spot with high footfall, easy access, and good visibility for better sales.
Conclusion
Due to changing consumer preferences and a strong desire for quality dining experiences, the food franchise business in India is booming. It doesn’t matter if you are looking to open a low-investment tea stall or a full-service dining establishment; these profitable food franchises have something for every budget.
A food franchise is a business model where a franchisor (established food company) licenses their brand, business methods, and operating system to a franchisee (individual or entity) for a fee.
How to start a food franchise in India?
To start a food franchise in India, you need to research and select a franchise brand, prepare a business plan, and secure necessary legal and financial approvals.
What are some most profitable food franchise in India?
Some most profitable food franchise in India are Dominos, Subway, Bikanervala, Barbeque Nation, Haldiram, Wow! Momo, Biryani Blues, Giani’s, Belgian Waffle Co, Rolls Mania, Chai Point, KFC.
