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  • Google Parent Considering Moving Pixel Smartphone Manufacturing to India

    According to reports, Alphabet, the parent company of Google, is in advanced negotiations to move some of the manufacturing of its Pixel smartphones from Vietnam to India. According to a media report, two weeks ago, Alphabet concluded the initial round of talks with its contract manufacturers, Foxconn and Dixon Technologies.

    A media house has also been informed by two industry officials that the corporation intends to localise the production of certain smartphone components, including batteries, chargers, fingerprint sensors, and enclosures. The majority of components are currently imported from the United States. Since President Donald Trump imposed significant tariffs on Vietnam, the Pixel manufacturer intends to be on the safer side.

    Trade War Between the US and Vietnam Calling for the Shift

    While the United States announced a 46% duty on Vietnamese imports, India is subject to a far lower rate of 26%. The 10% baseline tariffs remain in effect even though Trump declared on April 9 that reciprocal duties would be suspended for 90 days.

    However, China had no reprieve. The Trump-led administration maintained the 145% penalty on the Asian economic powerhouse as a form of retribution against the US reciprocal tariff policy, even though other countries were excluded from it. In 2023, the firm announced that it would start producing its Pixel 8 series smartphones in India.

    A year later, it signed a contract with Dixon Technologies, a local contract manufacturer, to begin production. Last year, the multinational tech giant began negotiations with Foxconn to build its Pixel series.

    Google and Apple Locking Horns on India

    At the time of Google’s partnership with Dixon, it was determined that the contract manufacturer would produce one lakh Pixel smartphones in the country each month. Out of those, approximately 25% to 30% of the units are scheduled for export.

     Foxconn has been producing 43,000 to 45,000 units per month for Alphabet, according to a media report. This initiative coincides with rival Apple’s plans to boost its iPhone manufacture in India. The goal of Foxconn, the Indian contract maker of iPhones, is to boost production from 12 million to 25 million handsets. The nation’s electronic manufacturing sector is poised to grow into a massive potential.

     At the moment, the nation produces roughly 33 crore mobile phones. As per the Economic Survey 2024-25, India has reduced its dependency on imports of cellphones since 99% of them are manufactured in India alone.

    Some Pixel units are manufactured in China in addition to Vietnam and India. In an attempt to lessen its dependency on Chinese manufacturing, Google moved the production of Pixels to Vietnam in 2023, mostly through Foxconn and Compal. According to reports, last year almost half of all high-end Pixel models were put together in Vietnam.

  • Delhi HC Notifies Zomato and CCI of NRAI’s Exclusion in Antitrust Investigation

    As part of an ongoing antitrust probe against the foodtech giant, the Delhi High Court (HC) has sent notice to Zomato and the Competition Commission of India (CCI).

    According to reports, the HC made the rulings at a hearing on a plea against the National Restaurant Association of India’s (NRAI) exclusion from the confidential ring during the investigation. The HC was also urged by the NRAI to examine the company’s confidentiality claims.

    What is Confidential Ring?

    The confidential ring was first introduced in 2022 and gives parties access to private documents or information about other parties in an inquiry so they can better defend themselves. The confidentiality ring aids regulators in quickly resolving complaints, subject to specific riders. Exclusion from the ring inhibits a petitioner’s capacity to make a defence.

    It is important to remember that in October 2024, the competition watchdog removed the NRAI from the ring after it had been first included. At the hearing on 21 April, Zomato’s lawyer allegedly argued that the NRAI should not be included in the confidential ring because it included companies that are competitors of the foodtech juggernaut.

    Issue to be Further Heard on 23 April

    The NRAI’s claim against Zomato was combined with a similar suit against Swiggy by the High Court bench, which was presided over by Justice Sachin Datta.

    In November of last year, the HC also sent out a notice on the Swiggy case. At its upcoming hearing on April 23, the HC will now consider both cases together. This news broke on the same day that the CCI upheld Zomato’s platform fees and delivery costs, ruling that they do not constitute an abuse of control.

    The most recent development occurs five months after a report stated both Zomato and rival Swiggy were found guilty internally by the competition commission. According to CCI, both businesses have limited market competition by favouring particular restaurant partners, in violation of competition regulations.

    CCI Putting a Strict Scanner of Zomato and Swiggy

    After NRAI filed a complaint in 2021, the CCI conducted an examination involving the two companies for over two years before issuing its antitrust decision. In its lawsuit, the industry association had said that the foodtech platforms participated in anticompetitive practices such as deep-discounting methods, bundling of services, exorbitant fees, delayed payment cycles and imposition of one-sided terms.

    As part of the confidential ring, the watchdog had already granted the NRAI restricted access to the antitrust report in April 2024. In the Karnataka High Court (HC), Zomato and Swiggy later contested the CCI’s order, claiming that the disclosures may cause the two businesses “irreparable commercial harm” even in the presence of confidentiality protections.

    The Karnataka High Court then ordered the watchdog to re-examine its ruling in June 2024, which cleared the path for the October 2024 verdict that barred the NRAI from the confidentiality ring. The restaurant body moved the Delhi HC as a result of this development.

  • The US Pressuring India to Grant Amazon and Walmart Complete Market Access

    According to a media outlet, the administration of US President Donald Trump plans to pressure India to grant online retailers like Amazon and Walmart complete access to its $125 billion e-commerce sector.

    The US intends to pressure Prime Minister Narendra Modi’s administration for e-commerce fairness in extensive negotiations on a US-India trade deal that will include industries like food and automobiles. The Trump administration did not specify the measures it anticipates the Indian government to take.

    How Amazon and Walmart Currently Operate in India?

    Amazon and Walmart are able to operate in India through local units, but they are prohibited from directly selling to consumers and holding inventory. In contrast, Reliance, a domestic firm, is able to establish physical stores and leverage its extensive retail network to reach customers throughout the country. In an attempt to evade US tariffs, New Delhi is currently discussing a trade agreement with the US.

    Officials in New Delhi want to finalise a trade agreement with the US under the 90-day halt on tariff hikes that Trump imposed on April 9 for major trading partners. Furthermore, US Vice President JD Vance also met with Indian Prime Minister Narendra Modi on 21 April for further discussions.

    McMillon and Bezos Eyeing Big of Trump’s Administration

    Doug McMillon of Walmart spoke at Mar-a-Lago on India’s limitations on international e-commerce businesses. The US plan to increase retail access in India puts Bezos and McMillon in competition with Mukesh Ambani, the richest person in Asia. Ambani’s Reliance Group controls Indian retail and runs a number of e-commerce sites.

    The US has been attempting to open up India’s home market since 2006 but has been effectively thwarted each time, according to Arvind Singhal, chair of the retail consultancy firm Technopak Advisors. Beyond stocking limits, US merchants have confronted recurrent Bureau of Indian Standards product inspections, according to industry officials.

    During negotiations, the Trump administration closely coordinated with US e-commerce platforms, according to two industry executives who spoke to a media outlet. In the meantime, Trump has already called India the “tariff king” because of its protective measures. As India’s biggest trading partner, both India and the US want to double their present amount of bilateral commerce in products and services to $500 billion.

    The Confederation of All India Traders’ secretary-general, Praveen Khandelwal, said that the effort to persuade India to allow American giants like Amazon and Walmart to expand its e-commerce industry is part of a larger trend of economic diplomacy meant to ensure market dominance for its companies.

    He continued by saying that although foreign investment is good, it shouldn’t come at the expense of weakening the interests of India’s small traders or disrupting the country’s retail ecology.

  • Arjun Vaidya of V3 Ventures Invests in KiranaPro, Joins as Mentor to Drive Retail Innovation

    • Arjun Vaidya’s expertise will drive strategic D2C partnerships and enhance KiranaPro’s AI-powered platform, fuelling the brand’s growth and nationwide expansion.
    • His hands-on experience in scaling consumer-facing brands will be instrumental in guiding KiranaPro as it extends its reach to millions of customers nationwide.

    KiranaPro, India’s fully ONDC-integrated, AI-powered quick commerce platform, has strengthened its leadership circle with Arjun Vaidya, Co-Founder of V3 Ventures, joining the brand as an investor and mentor. Inspired by KiranaPro’s mission to empower 12 million neighbourhood kirana stores in the country with a tech-driven approach, Vaidya will also invest an undisclosed amount in the company.

    Arjun will play a key role in shaping the company’s next phase of development. His expertise will be crucial in building strategic partnerships with leading D2C brands, while also exploring new opportunities to enhance KiranaPro’s AI-powered platform. As Mentor, Arjun will closely collaborate with KiranaPro’s leadership team, providing invaluable strategic guidance focused on the company’s growth, expansion, and product innovation.

    Arjun’s entrepreneurial success, particularly as the founder and CEO of Dr. Vaidya’s, a new-age Ayurvedic products company, positions him as a valuable asset to KiranaPro’s journey. Under his leadership, Dr. Vaidya’s scaled rapidly, reaching 5,000 orders a day and building a customer base of 2 million across 16,500 pin codes. He also played an instrumental role in launching more than 80 products of the brand. His hands-on experience in scaling a consumer-facing brand will be instrumental in guiding KiranaPro as it extends its reach to millions of customers nationwide.

    Deepak Ravindran, Founder & CEO, KiranaPro expressed, “Arjun’s journey as a D2C pioneer and his deep understanding of India’s consumer landscape make him an invaluable addition to our leadership circle. His decision to back our vision is a shot in the arm for the entire team. Arjun’s mentorship will accelerate our efforts to build strategic brand partnerships and will help us scale KiranaPro into a nationwide movement for kirana empowerment.” 

    “KiranaPro is redefining how technology can uplift India’s most trusted retail format—the kirana store. Having built and scaled a D2C brand from the ground up, I understand the power of combining digital innovation with deep consumer trust. I’m excited to support KiranaPro’s mission to empower millions of small retailers while bringing modern commerce to every corner of India,” said Arjun Vaidya, Co-Founder, V3 Ventures.

    Since its inception, KiranaPro has made impressive progress, onboarding over 30,000 kirana stores and racking up close to 1000 daily orders across 35 cities. The company is now on track to onboard 1 million kirana stores and serve nearly 100 million customers by the end of 2025. With Arjun’s mentorship and strategic investment, KiranaPro is poised to continue its upward trajectory, solidifying its position as a leader in the digital retail space.

    About KiranaPro

    Founded by Deepak Ravindran, KiranaPro is India’s fully ONDC-integrated, AI-powered quick commerce platform focused on empowering local kirana stores with cutting-edge technology. By enabling 10-minute deliveries and pioneering the no-commission, ad-led revenue model, KiranaPro ensures kirana stores stay competitive in today’s fast-paced retail landscape. 

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  • The Future of Corporate Travel— Managed Luxury Rentals

    In this digitally driven era, where work and travel keep evolving with millennials’ changing lifestyles and preferences, work trips are no longer just about getting from one place to the other; they’re largely about how individuals live and work seamlessly while travelling. There’s a growing demand for comfort, flexibility, and curated experiences. Managed luxury rentals are what business executives prefer, owing to the premium concierge services and amenities that significantly enhance and boost their productivity, keeping them organised throughout. Whether you return late from a business meeting and wish to relax or host a virtual meeting at your accommodation, these managed living spaces provide the perfect backdrop for relaxation and productivity. Let’s dive into understanding the factors that shape the future of business travel for ambitious professionals.

    1) Easy Check-Ins and Flexibility 

    Today’s corporate professionals expect more than just convenience; they have no time to get into the hassle of lengthy procedures and complicated paperwork to book and check in, they simply expect effortless mobility. Managed luxury rentals are stepping up with streamlined check-in processes, app-based access, and minimal paperwork, allowing busy professionals to settle in within minutes. Furthermore, with unexpected last-minute meetings, these accommodations offer flexibility to extend the stay, offering a level of freedom that traditional hotels rarely provide.

    We’ve entered an era where premium short stays like Housr Short Stays serve the needs of quick business trips. At the same time, managed luxury rentals offer long-term comfort for professionals relocating permanently, both tailored to cater to the demands of modern professionals.

    2) Move-In Ready and Work-Optimised Spaces

    A significant obstacle business executives face while travelling is finding a work-friendly space to streamline their day. Traditional hotels often fall short, offering limited privacy and generic layouts, making it challenging to fulfil the purpose of a business trip. On the other hand, luxury players like Housr offer thoughtfully designed layouts complemented by ergonomic furniture, high-speed WiFi and premium amenities, empowering professionals to stay efficient without compromising on lifestyle.

    3) Concierge Support for Effortless Work-Life Balance

    With demanding work schedules, professionals often struggle to make time for personal activities, hobbies, or well-being. That is when they choose a managed living space to offload household chores and maintain a healthy work-life balance. Premium concierge services and amenities significantly enhance business trips and day-to-day life, easing the burden of household responsibilities. With professional housekeeping, laundry services, smooth internet connectivity and other essential utilities seamlessly managed, these luxury rentals go beyond the mediocre services offered at a traditional rental or hotel.

    4) The Role of Technology 

    In this tech-savvy generation, where everything is possible with a click and convenience has become a way of life, the real estate industry is no exception. Technology is undoubtedly playing a vital role in reshaping corporate travel and premium living experiences across the globe. Whether digital rent payments, real-time updates, or app-based entry systems, these features streamline the entire experience for busy professionals on the move. By integrating these digital solutions into every touchpoint, luxury players like Housr are not just keeping pace but are also setting new standards for efficiency, comfort and convenience for ambitious professionals.

    5) The Role of In-House Recreational Options 

    The convenience of in-house amenities to unwind after a hectic day is simply unmatched. Many real-estate players are incorporating the idea of providing in-house facilities such as a fitness centre, yoga room, wellness zones, cafeteria, gaming stations and other amenities within their living spaces, eliminating the extra costs of gym and other memberships for their residents. The concept of a living space is no longer limited to a four-walled room; millennials now seek spaces supporting productivity and personal well-being. These amenities help reduce stress and enhance everyday life, keeping people motivated and energised all day long. Such amenities are crucial in transforming corporate travel into a more holistic experience. 

    To Sum Up

    As work culture becomes more mobile and expectations of millennials keep increasing, the future of corporate travel lies in thoughtfully designed living spaces that prioritise both productivity and personal balance. Managed luxury rentals are the new norm for business travellers and executives seeking a comfortable, convenient and organised work trip without compromising their lifestyle. The layout, amenities, and services speak volumes about the standards that these luxury rentals offer. It is now the era of professionally managed living spaces that provide an effortless and flawless experience for ambitious professionals on the move. Housr, renowned as India’s top luxury-managed accommodation provider, stays at the forefront of embracing every innovation to redefine the standards of modern corporate living.

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  • Google and CCI Resolve their Antitrust Dispute Regarding Google’s Use of Smart TVs

    The Competition Commission of India (CCI) said in a statement that Google has become the first company to use the recently implemented settlement framework in India. The company has been ordered to pay INR 20 crore to settle an antitrust investigation into claims of its anti-competitive behaviour in the smart TV market.

    The ruling forces the tech giant to unbundle its Play Store and Play Services on Android TVs in the nation, marking a significant change in the regulatory environment. Google would be required to pay INR 20 crore as part of the settlement agreement after a 15% scheme-related reduction.

    What are the Outcomes of CCI’s Investigation?

    In a statement on April 21, CCI said that its investigation had concluded that Google’s agreements with the Television App Distribution Agreement (TADA) and the Android Compatibility Commitments (ACC), when executed together, allegedly imposed unfair terms.

    Hence, it further prevents television makers from using or developing Android forks, preventing the development of new apps, and requiring the pre-installation of its entire app bundle, Google TV Services.

    According to the agency, 45 parties submitted comments and concerns over Google’s settlement application. CCI added that after reviewing the settlement plan, the Commission noted that Google will grant an independent licence for the Play Store and Play Services for Android smart TVs in India. Hence, it will be done as part of the “New India Agreement”. The move will eliminate the need to set default placement criteria or bundle these services.

    EU Planning a Stringent Action Against the Tech Giant

    While CCI is settling the matter with Google, its European counterpart is allegedly considering taking action against Big Tech, if trade discussions between the EU and the US, following President Trump’s massive tariffs, fail.

    The main thrust of the accusation against Google LLC, Google India Private Limited, and two other parties was that Google abused its power by imposing restrictive agreements on original equipment manufacturers (OEMs).

    These agreements included mandatory Play Store bundling with the Android TV operating system and anti-fragmentation agreements that prohibited the use or development of competing forked Android versions.

    About CCI?

    The Indian government created the Competition Commission of India (CCI) as a statutory agency to guard against actions that hurt competition, encourage fair competition, and safeguard the interests of consumers. It was created in accordance with the 2002 Competition Act and went into full operation in 2009.

     The CCI wants India to have a strong competitive environment. In addition, the Commission also advocates for competition, raises public awareness, and provides training on competition-related matters. It also provides an opinion on competition-related matters upon referral from a governmental entity created under any law.

  • Aavishkaar Capital Backs Poshs Metal with INR 43 Crore Investment

    This is the seventh investment from Aavishkaar Capital’s USD 220 million “Global Supply Chain Support Fund”.

    Global Supply Chain Support Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company and a global pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, and set up in partnership with KfW, a German state-owned development bank, announced their seventh investment of INR 43 crores ($5 million) from the Global Supply Chain Support Fund into POSHS Metal Industries Private Limited (Poshs), specializes in the processing of auto-grade flat steel.

    Global Supply Chain Support Fund is a $220 million fund from Aavishkaar Capital, focused on investing in Asia and Africa with the mandate of supporting SMEs operating in global supply chains and committed to producing their products and services in an environmentally sustainable and socially inclusive manner. The Fund seeks to deliver commercially viable financial returns alongside positive social impact.

    Set up in 1998 by Mr. Ashok Kapoor, Poshs Metal Limited (Poshs Group) specializes in auto-grade steel processing in Western India. Poshs Group caters to some of the top MNCs in the automotive sector. POSHS Metal Industries is an exclusive and authorized steel processing and distribution partner for Tata Steel in Western India, with a relationship spanning 25 years.

    Commenting on the investment, Asheer Kapoor, Promoter & Director, Poshs Metal, said, “This funding marks a crucial step in our growth journey as we expand our footprint in Aurangabad. The enhanced production capacity will allow us to serve our customers more efficiently while reinforcing our commitment to innovation and quality. The support from our investors reflects their confidence in our vision, and we look forward to accelerating our expansion plans.”

    Abhishek Mittal, Partner-Credit, Global Supply Chain Support Fund, Aavishkaar Capital, said, “We are excited to invest in Poshs Metal Industries and support their next phase of growth through a state-of-the-art processing facility in Aurangabad to further establish themselves as a leading value-added steel processing business for Western India. The Indian auto sector is expected to see a mix of opportunities and challenges with the advent of electric vehicles, sustainable mobility and technological advancements, while also facing increasing competition, global headwinds and rising costs. The company’s strong focus on Environmental, Social, and Governance (ESG) practices through minimum wastage and efficient logistics and a customer-centric approach to deliver quality products on time at a competitive price would be their key success driver going forward. Through the Global Supply Chain Support Fund, Aavishkaar Capital is proud to partner with POSHS Group and look forward to empowering more such businesses with non-dilutive and flexible financial solutions that are better aligned with their growth ambitions.”

    Stephanie Lindemann-Kohrs, Global Head of Equity and Funds, KfW Development Bank, said, “The primary aim of KfW’s investment into the Global Supply Chain Support Fund on behalf of the German Government is to enhance environmental and social standards in companies that are integrated into European supply chains. With an increasing requirement for reduction in carbon footprint and improved labor conditions in automotive manufacturing, it is imperative to uphold fair labor practices and high environmental standards. The investment procedure of the fund adheres to rigorous environmental and social due diligence, thereby setting elevated standards for its investees.”

    About Aavishkaar Capital

    Aavishkaar Capital is an Impact fund manager focused on the Global South. A pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, Aavishkaar Capital’s unique approach has resulted in its invested enterprises impacting over 136 million lives. Aavishkaar Capital invests in high-environmental and social impact sectors across India, Emerging Asia, and Africa. Aligned to 13 out of the 17 Sustainable Development Goals, Aavishkaar Capital has successfully raised eight funds, while generating commercial returns with over c. USD 1.5 billion in assets under management.

    Aavishkaar Capital is the impact investing arm of the Aavishkaar Group, the impact platform with presence in Microfinance, MSME Lending and ecosystem building across India, Emerging Asia and Africa. Aavishkaar Group with its vision to bridge the opportunity gap for the emerging 3 billion.

    About Aavishkaar Capital’s Global Supply Chain Support Fund

    Global Supply Chain Support Fund is a $220 million fund managed by Aavishkaar Capital targeting highly impactful businesses operating in global supply chains. The fund primarily invests in non-diluting self-liquidating structures to meet the growth needs of SMEs across Asia and Africa.

    About Poshs Metal Industries

    Incorporated in 1990, Poshs Metal specializes in the processing of auto-grade flat steel for Tier 1 automobile manufacturers. Operating as a “steel service centre,” Poshs Metal is an exclusive and authorized steel processing and distribution partner for Tata Steel, maintaining a 25-year-long partnership. 

    The company primarily caters to Original Equipment Manufacturers of major automobile brands, including Tata Motors, Bajaj Auto, Mahindra, Volkswagen, and Volvo. As part of its value chain integration, Poshs Metal customizes steel blanks to match specific OEM tooling requirements, enhancing efficiency and precision. It has expanded its capabilities by offering additional value-added services, such as in-house packaging and scrap processing, benefiting both its clients and competitors.

    Poshs Metal has pioneered sustainable steel pallet packaging technology, replacing traditional wooden pallets and thereby enhancing environmental sustainability. Additionally, the company offers scrap processing as a service to its OEM clients by compacting scrap into bricks and selling them to Tata-empaneled scrap vendors. 

    Poshs Metal is expanding its operations and is establishing a strategic facility in the Aurangabad auto cluster, positioning itself to better serve Bajaj Auto and other key clients.

    About KfW

    KfW is a German promotional bank and one of the world’s leading promotional banks. It was founded in 1948 and is 80% owned by the Federal Government and 20% by the federal states. The business sector KfW Development Bank carries out Financial Cooperation (FC) projects with developing countries and emerging economies on behalf of the German Federal Government.

    KfW Development Bank employs approximately 1,000 people at the head office in Frankfurt am Main and almost 400 specialists at more than 60 international locations, who cooperate with partners all over the world. Their goal is to combat poverty, secure peace, protect the environment and the climate as well as ensure fair globalization. KfW is a competent and strategic adviser for current development policy issues.

  • 1.28 Cr Shares Are Allotted by Swiggy Under the ESOP Scheme

    The board of Swiggy, a well-known foodtech company, has authorised the distribution of 1.28 Cr equity shares through its employee stock option plan (ESOP). The Nomination and Remuneration Committee authorised the distribution of 12,896,462 equity shares under the Swiggy Employee Stock Option Plan 2024 to its qualified workers, according to the company’s regulatory filing dated April 21. The face value of the shares is INR 1, and the exercise price for the shares that were allotted was also INR 1 per share. Swiggy recently made an expansion investment of INR 1,000 crore in Scootsy Logistics, a subsidiary. In the prior quarter, 42% of Swiggy’s total revenue came from Scootsy Logistics. Swiggy has not yet submitted its Q4 FY25 financial statements for the final quarter of the previous fiscal year. The company reported a 31% year-over-year increase to INR 3,993 crore in Q3 FY25 from INR 3,049 crore in Q3 FY24. Swiggy’s losses increased 39.2% to INR 799 crore during the same time period as a result of its growth-orientated strategy.

    In Jan, Swiggy Allocated 2.61 Crore Shares to Employees

    On January 23, Swiggy said that 2.61 crore shares had been distributed under various employee stock ownership plan (ESOP) schemes. Under the Swiggy ESOP Plan 2015 & Swiggy ESOP Plan 2021, Swiggy announced that it had authorised the distribution of 2,61,93,411 equity shares of the company in response to eligible workers exercising their stock options. According to the document, this raised Swiggy’s paid-up equity share capital from INR 2.23 crore to INR 2.26 crore.

    Esop allocation, which was first popularised by IT services giants like Infosys, is particularly common in consumer online businesses. Before going public, these companies usually provide founders and top management more stock options as incentives. However, there may be a number of unintended consequences from the opportunity to create wealth for a larger group of workers.

    More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provide these plans to all employees.

    Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.

  • Flipkart Board Approves Domicile Shift from Singapore to India as E-commerce Giant Gears Up for IPO

    Flipkart, a prominent e-commerce company, is joining the lengthy list of companies that are returning to India by relocating their headquarters from Singapore. According to a Flipkart representative, this strategic choice demonstrates the company’s strong and steadfast dedication to India and its incredible development. This change is a logical progression that brings Flipkart’s holding structure into line with its core business, the enormous potential of the Indian economy, and its capacity to promote digital transformation in India through innovation and technology. However, the necessary clearances must be obtained before the relocation may proceed.

    The Move will Benefit the Firm’s Business Operations

    Relocating the business will assist in avoiding the stringent guidelines set forth in India’s Foreign Exchange Management Act and regulations pertaining to foreign investment. It will also simplify governance and tax issues and eliminate the burden of being governed by both Indian and Singaporean authorities. In a trend known as “reverse flipping”, businesses that previously established their legal headquarters abroad are returning to India. In the process are Pine Labs, Meesho, and Razorpay. Similar actions are also being considered by others, including Khatabook, Eruditus, and Udaan. The majority of these businesses want to access India’s public markets, which have been providing high values. As a company that was founded and raised in India, Flipkart’s official statement added that this change will further strengthen the company’s focus and agility in serving its customers, sellers, partners, and communities. This move will also help Flipkart in supporting the country’s expanding digital economy and entrepreneurship. The brand reiterates its long-term faith in India’s future and is thrilled about the opportunities that lie ahead.

    Flipkart is Expanding Its Reach

    Along with raising around $1 billion in investment, the Walmart-owned company has also received $350 million from Google. Tiger Global, Accel, and cofounder Binny Bansal, who were early supporters of Flipkart, sold their remaining shares in the online retailer to Walmart last year, effectively leaving the company. The goal of Flipkart, which is run by group CEO Kalyan Krishnamurthy, is to continue to improve its financial performance while expanding at a rate that is somewhat faster than the industry average. Given India’s trend towards speedy commerce, the company has entered the market with its product, Minutes, in what is the company’s top priority and its next major growth sector. In addition to Mintues, additional areas of interest include loans and payments. Super.money, the firm’s payments appIts, is operated by senior executive Prakash Sikaria and is housed inside a different company that is owned by Flipkart. Through its own platform, the e-commerce company has also enabled Unified Payments Interface (UPI) payments.

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  • Uniqus Secures $20 Million to Disrupt Consulting the AI Way

    Uniqus Consultech, a tech-enabled global platform that offers consulting solutions in the accounting & reporting, finance operations, governance, risk, ESG, and technology domains, today announced that it has secured $20 million in Series C funding. The round was led by Nexus Venture Partners, with participation from Sorin Investments. Nexus and Sorin are existing investors in Uniqus. The funds will be used to accelerate the company’s rapid growth trajectory, launch adjacent services, and expand its geographical footprint across the globe. Uniqus also plans substantial R&D investments in AI-driven solutions for the reporting and risk management challenges faced by its clients.

    The funding comes amid exceptional growth as Uniqus satisfies the strong market need for modern consulting solutions. Companies now seek consulting services that blend deep domain expertise with cutting-edge technology and access to a global talent pool. Uniqus has emerged as a leader, providing specialised, scalable technology-driven solutions that disrupt traditional consulting models. 

    Since launching two years ago, Uniqus has established offices in 11 cities across India, the US, and the Middle East, employing more than 550 high-performing professionals led by 60 Partners and Directors, serving more than 250 clients. During this period, Uniqus has also launched several tech assets:

    • UniQuest: GenAI-powered platform transforming search, summarisation and analysis across industries, including regulatory filings, to deliver dynamic conversations and precise answers to reporting queries.
    • Risk UniVerse: Proprietary platform designed specifically to streamline internal controls over financial reporting, SOX compliance, and internal financial controls.
    • Reporting UniVerse: Comprehensive technology solution for financial reporting and data management.
    • ESG UniVerse: Advanced data management and reporting tool tailored for environmental, social, and governance (ESG) metrics.

    Uniqus also enhances its offerings through strategic technology partnerships with companies like Cranium AI to enhance AI Risk Management Solutions for its clients.

    “Uniqus represents the future of consulting,” said Anup Gupta, Managing Director of Nexus Venture Partners. “While traditional consulting firms struggle to adapt to changing market needs, Uniqus takes a fundamentally different approach that delivers superior results. The company’s strategic use of technology and AI, coupled with its global cloud delivery model, unlocks an enormous opportunity to transform client outcomes and redefine consulting economics. We are thrilled to reinforce our partnership with Team Uniqus in this exciting journey.” 

    “Our vision has always been to build a consulting platform that leverages global talent and technology to deliver exceptional client outcomes,” said Jamil Khatri, Co-Founder & CEO of Uniqus. “With a $100 billion+ addressable market before us, this is just the beginning. Our latest round of funding positions us to expand our capabilities and geographical presence as we tap into this market. The funding will also help us to build Uniqus AI, leveraging our deep domain skills and new GenAI models to transform how consulting services are delivered.” 

    “Uniqus continues to execute remarkably well as it builds a differentiated, global consulting company,” said Sanjay Nayar of Sorin Investments. “The company has anticipated and capitalized on the growing need for tech-enabled consulting services, positioning itself well ahead of competitors. With its proven execution prowess and the significant opportunities that lie ahead, we are excited to partner with Uniqus on the next phase of its growth journey.” 

    The Series C funding saw significant investor interest and marks another milestone in Uniqus’ journey, affirming investor confidence in its vision, team, and potential for long-term success.

    Nexus Venture Partners is an India-US venture fund started by successful entrepreneurs, with a focus on enterprise technology and the Digital India space. Sorin Investments is an early-stage tech fund founded by private equity veteran Sanjay Nayar. 

    About Uniqus Consultech

    Uniqus Consultech is a global tech-enabled consulting company that specialises in Accounting & Reporting,  ESG and Tech Consulting. The company is co-founded by consulting veterans Jamil Khatri and Sandip  Khetan and backed by marquee investors such as Nexus Venture Partners, Sorin Investments, UST and other angel investors globally. Anu Chaudhary, a global ESG specialist with over 20 years of experience,  serves as the Global Head of ESG. Abhijit Varma, a veteran technology specialist, leads Tech Consulting globally.

    Uniqus has a global team of 550+ professionals led by 60+ Partners & Directors across eleven offices in the USA, the Middle East and India. The company serves more than 250 clients, including marquee names in each of the markets it operates in. 

    Uniqus is committed to leveraging technology and an integrated global delivery model to provide best-in-class consulting services to its clients.

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