HDFC Capital Advisors Limited, the real estate private equity arm of HDFC Group, has created a INR 1,500 crores platform in partnership with the Eldeco Group to develop 18 residential projects across multiple towns including Panipat (Haryana), Sonipat (Haryana), Rudrapur (Uttarakhand), Ludhiana (Punjab), Kasauli (Himachal Pradesh) and Rishikesh (Uttarakhand), with total development area of more than 10 million square feet and combined revenue potential of about INR 11,000 crores.
This platform underscores HDFC Capital’s continued commitment to bridging India’s housing gap through the development of high-quality residential communities, particularly in emerging tier 2 and 3 towns.
Vipul Roongta, Managing Director & CEO, HDFC Capital, commented on the investment, stating, “We are bullish on the potential of tier 2 and tier 3 towns situated within a 300-kilometer radius of major metropolitan areas. Our partnership with Eldeco aligns with our long-term vision of catalyzing the development of sustainable aspirational housing for India’s expanding middle class. This collaboration is aimed at leveraging the growing infrastructure development in these regions which is bringing these towns closer to the metro cities and employment hubs. Eldeco has a successful track record of developing townships in tier 2 and 3 towns and we’re excited to partner with them.”
Pankaj Bajaj, Chairman & Managing Director, Eldeco Group, said, “We are happy to partner with HDFC Capital in our mission to develop vibrant, well-planned communities across India. This investment allows us to accelerate our expansion into high-growth markets that are increasingly being connected to India’s economic centers. There is a huge unmet demand for quality housing in tier 2 & 3 cities across India. There is just not enough supply. In this platform with HDFC Capital, we will be able to address some of this demand in cities of North India.”
This collaboration is part of HDFC Capital’s broader strategy to support the development of affordable and mid-income housing and marks another key milestone in its goal of addressing the housing needs across India’s growth corridors in tier 2 and tier 3 towns.
The platform with HDFC Capital is with Eldeco Infrastructure & Properties Ltd (EIPL), the unlisted arm of the Eldeco Group. Promoted by Pankaj Bajaj, the group also operates the listed Eldeco Housing & Industries Ltd in the Lucknow market under a brand license agreement with EIPL.
About HDFC Capital Advisors Limited
HDFC Capital, a subsidiary of HDFC Bank Ltd, is the real estate private equity arm of HDFC Group. HDFC Capital is aligned with the Government of India’s ‘Housing for All’ initiative and is focused on financing the development of affordable and mid-income homes in a sustainable manner. HDFC Capital also seeks to promote innovation and the adoption of new technologies within the real estate sector by investing in and partnering with technology companies.
HDFC Capital is the investment manager to four SEBI-registered Category II Alternative Investment Funds. These funds combine to create a US$ 4.2 billion platform targeting the development of affordable and mid-income housing in India.
About Eldeco Group
Eldeco Group, promoted by Pankaj Bajaj, is one of North India’s leading real estate developers. Apart from its presence in NCR, the Group was one of the early movers in tier 2 & tier 3 cities of North India. The Group operates in Lucknow through the listed entity Eldeco Housing & Industries Limited (EHIL) and in the rest of India through the privately held Eldeco Infrastructure & Properties Limited (EIPL). Eldeco Group has delivered more than 200 projects with an aggregate delivered area of more than 60 million square feet. Apart from Lucknow, Eldeco is a leading real estate developer in most key cities of North India, such as Kanpur, Delhi, Noida, Greater Noida, Gurugram, Panipat, Sonipat, Ludhiana, Rudrapur, Bareilly, Panchkula, Neemrana, Sitarganj, Jhansi, and Jalandhar.
According to a media report, Apple has significantly changed its global supply chain strategy by increasing its iPhone production in India to an all-time high. Now the tech giant assembles smartphones valued at $22 billion in India. The action is a reflection of Apple’s increased efforts to expand its manufacturing presence in India and lessen its dependency on China. About 20% of all iPhones made worldwide are currently made in India, where production of the device increased by about 60% in the past year, according to the report. This effort follows India’s Production-Linked Incentive (PLI) program, which has been instrumental in drawing in large international electronics firms. India’s IT and Electronics Minister Ashwini Vaishnaw disclosed earlier this week that during the fiscal year that ended in March 2025, Apple exported iPhones valued at INR 1.5 trillion, or roughly $17.4 billion. Three iPhone assembly facilities are now run by Apple in India: two in Tamil Nadu and one in Karnataka. Two of the Tamil Nadu plants are run by the Tata Group, while the other one is run by the Taiwanese behemoth Foxconn.
Apple Urging Suppliers to Establish Units in India
China, Japan, and Taiwan vendors have been actively encouraged by Apple to set up production facilities in India. Important component producers have already started production in the nation, including Foxlink (cables), Sunwoda (battery packs), and Aequs (enclosures). There has also been a notable increase in local content in Apple’s iPhones manufactured in India. Just 5–8% of the parts in different models were sourced locally when Apple started manufacturing in India in 2020. That percentage has now increased to about 20%. According to reports, Apple has branched out beyond the basic iPhone models, indicating a growing trust in its Indian business. According to Bloomberg, the company has begun constructing the more expensive iPhone 16 Pro models in India, although it first concentrated on assembling the entry-level iPhone 15 model.
All Developments Favouring India
Additionally, the spike in iPhone exports from India seems to be well-timed in relation to recent trade developments in the United States. As per various media reports, Apple’s exports to the United States from India have increased significantly since the Trump administration imposed high tariffs on Chinese goods. In order to deal with the new tariff environment, Apple is anticipated to give its India supply chain top priority for iPhone shipments headed to the United States. The Trump administration declared on 12 April that laptops, smartphones, and other important equipment will be temporarily spared from the reciprocal duties. As a result, iPhones manufactured in India will not be subject to additional taxes for the time being, while iPhones from China will also be subject to a 20% tariff rate, which is much less than the entire 145% that would otherwise be applicable.
Hiring freelancers on Upwork can feel like searching for a needle in a haystack. With over 18 million freelancers offering everything from graphic design to AI development, how do you find someone exceptional who is not just another generic bidder?
The truth? Most companies get it wrong. They post vague job descriptions, rush through vetting, and end up with mediocre work or below-average, outright scams.
But when done right, hiring on Upwork gives you access to world-class talent at competitive rates, all without the overhead of full-time employees.
This guide isn’t just another list of tips. It’s a proven, step-by-step system refined from hiring hundreds of freelancers across different industries.
Projection of Gig Workers Using Employment Growth (MN)
Why Hire Freelancers on Upwork?
1. Benefits of Hiring on Upwork
Access to Global Talent
Upwork connects businesses with professionals worldwide, enabling access to a wide range of skills and expertise. This global reach means you’re no longer limited to local talent, allowing you to find the best person for the job regardless of location.
Flexibility & Scalability
The advantage of hiring freelancers is the ability to scale your workforce based on demand. Whether you need a single task completed or an entire project managed, freelancers offer the flexibility to work on an as-needed basis, reducing overhead costs and commitments.
Cost-Effectiveness
Hiring freelancers can often be more cost-effective than maintaining full-time employees. You only pay for the work completed, eliminating expenses such as benefits, office space, and equipment. Additionally, you can find freelancers at various price points to fit your budget.
Ease of Payment
Upwork provides a secure payment system with milestone-based payments and escrow protection, ensuring that clients and freelancers are satisfied. Payments are only released when agreed-upon work is completed to satisfaction.
Verified Work History
Freelancer profiles on Upwork include job success scores, client reviews, work history, and earnings. This transparency allows you to assess past performance before making a hiring decision.
Upwork Website
2. Who Should Use Upwork?
Upwork is an excellent platform for businesses of all sizes, including:
Startups and small businesses are looking for affordable yet skilled professionals without the commitment of full-time hires.
Large corporations that need specialized skills for short-term projects without lengthy hiring processes.
Entrepreneurs who require virtual assistants, marketing experts, or technical support to streamline operations.
Agencies need additional workforce support to manage high workloads without hiring more employees.
3. Upwork Pro & Enterprise Features
Upwork offers premium services through Upwork Pro and Upwork Enterprisefor businesses that need a more curated approach to hiring.
Upwork Pro
Upwork Pro is ideal for businesses that want a more streamlined hiring process. It provides access to a handpicked selection of top-tier freelancers, reducing the time spent searching and vetting candidates. With a dedicated Upwork recruiter handling the selection process, businesses can focus on their projects while ensuring they hire the best talent available.
Key Benefits of Upwork Pro:
Pre-vetted freelancers matched to your project needs
Faster hiring process with Upwork’s recruitment support
Ideal for businesses looking for quality without investing hours in screening applicants
Upwork Enterprise
Upwork Enterprise is designed for larger organizations that require a scalable and compliant freelance workforce. This service offers custom workforce solutions, enterprise-level security, and integrations with existing business processes.
Key Benefits of Upwork Enterprise:
Tailored talent solutions with dedicated account managers
Compliance and security features for enterprise-level projects
Workforce analytics and performance tracking
Ability to create private talent pools for ongoing needs
By choosing Upwork Pro or Upwork Enterprise, businesses can access top talent more efficiently while ensuring quality and compliance.
A well-crafted job post is crucial for attracting the right freelancers on Upwork. Here’s how to do it effectively:
1. Crafting a Clear & Concise Job Title
Your job title should be precise and relevant to your project needs. Avoid vague titles and instead use specific keywords that describe the job accurately.
Good Example: “SEO Expert for E-commerce Website Optimization” Bad Example: “Need SEO Help”
2. Writing a Detailed Job Description
Your job description should provide freelancers with a clear understanding of the project scope and expectations. Include:
Project Overview: A brief explanation of what your project entails.
Required Skills: List the technical and soft skills necessary for success.
Deliverables & Timeline: Define what needs to be completed and by when.
Budget & Payment Terms: Specify whether the job is fixed-price or hourly.
Experience Level: Indicate if you need an entry-level, intermediate, or expert freelancer.
3. Using Upwork’s Talent Preferences
Upwork allows you to filter freelancers based on various criteria, such as job success score, verified identity, and location preferences. Using these filters can help you find candidates that align with your specific needs.
Hiring on Upwork can be incredibly rewarding, but many businesses make critical mistakes that lead to poor freelancer experiences. Here are some of the most common hiring errors and how to avoid them:
1. Posting Vague Job Descriptions
A poorly written job post attracts unqualified freelancers and results in mismatched expectations. Be as detailed as possible about your project requirements, timelines, and deliverables to ensure clarity from the start.
2. Choosing the Cheapest Freelancer
While budget is an important consideration, hiring solely based on cost can backfire. Lower-priced freelancers may lack experience or deliver subpar results. Focus on quality and expertise rather than just price.
3. Ignoring Portfolio & Work History
Many clients skip reviewing past work samples and job success scores, which can lead to hiring underqualified freelancers. Always check portfolios and client feedback before making a decision.
4. Skipping the Interview Process
Even if a freelancer looks good on paper, a quick interview can reveal their communication skills, professionalism, and suitability for your project. Take the time to discuss expectations before hiring.
5. Poor Communication & Expectation Management
A lack of clear communication is a vital reason for freelancer-client disputes. By using tools like Upwork messages, Slack, or Trello to stay in touch and ensure alignment throughout the project.
Finding a great freelancer is just the beginning; retaining them ensures long-term success. Here’s how to build a strong, lasting working relationship:
1. Offer Competitive Pay and Timely Payments
Freelancers value clients who respect their time and effort. Offering fair compensation and paying promptly builds trust and encourages loyalty.
2. Provide Clear and Consistent Communication
Regular check-ins, constructive feedback, and clear project guidelines help freelancers stay engaged and motivated.
3. Give Long-Term Contracts
If you find a freelancer who consistently delivers high-quality work, consider offering them a retainer contract or ongoing projects. Stability is appealing to top freelancers.
4. Recognize and Reward Good Work
Bonuses, referrals, and positive reviews show appreciation for their work and strengthen the relationship.
5. Involve Them in Bigger Projects
Giving freelancers opportunities to contribute to more complex and higher-level projects shows you value their skills and expertise, making them more invested in your business.
By implementing these strategies, you can secure a reliable, high-performing freelance team that adds long-term value to your business.
Revenue of Upwork worldwide from 2016 and 2023
Screening & Shortlisting Candidates
Once applicants start rolling in, it’s time to filter the best candidates.
1. Evaluating Freelancer Profiles
Pay attention to:
Job Success Score & Reviews: A high success score (90% and above) indicates reliability and client satisfaction.
Portfolio & Work Samples: Look for relevant examples that showcase their expertise.
Skill Certifications: Some freelancers take skill tests to verify their knowledge.
Earnings & Work History: Consistency in work history suggests reliability and experience.
2. Sending Pre-Interview Questions
Ask potential candidates key questions to gauge their suitability:
“Can you share examples of similar work you’ve done?”
“How do you handle tight deadlines and revisions?”
“What tools or software do you use for this project?”
Conducting an Interview
1. Best Practices for Interviewing Freelancers
Conduct a video or chat interview to assess communication skills.
Ask about availability and workload to avoid potential conflicts.
Discuss project specifics, expectations, and collaboration preferences upfront.
2. Red Flags to Watch Out For
Poor communication or slow response times.
Unverified work samples or lack of a portfolio.
Unrealistically low bids may indicate a lack of expertise.
Setting Up a Contract & Payment Structure
1. Fixed-Price vs. Hourly Contracts
Fixed-Price Contracts: Ideal for well-defined projects with specific deliverables.
Hourly Contracts: Best for ongoing projects or tasks that require flexibility.
2. Milestone Payments for Fixed-Price Contracts
Break the project into phases with payments tied to completed milestones to ensure accountability.
3. Using Upwork’s Escrow System
Upwork holds funds in escrow until work is completed and approved, ensuring a secure transaction for both parties.
Managing & Communicating with Freelancers
Establish Clear Communication Channels: Use tools like Upwork messages, Slack, Trello, or Zoom for effective collaboration.
Setting Expectations & Providing Feedback: Regular feedback ensures alignment with project goals and improves performance.
Handling Revisions & Edits: Clearly define revision policies in the contract to prevent excessive changes.
Ending a Contract & Leaving Feedback
Completing the Project Successfully: Ensure all deliverables meet expectations before finalizing payments.
Leaving Reviews & Ratings: Providing honest feedback helps freelancers build their profiles and aids other clients in making informed hiring decisions.
Tips for Long-Term Collaboration
Building a Reliable Freelancer Network: Keep a shortlist of top freelancers for future projects.
Creating an Upwork Agency Relationship: If hiring multiple freelancers, consider working with an established Upwork agency for more cohesive project management.
Developing an Internal Knowledge Base: Document workflows, best practices, and past freelancer performance to refine future hiring.
Conclusion
Hiring on Upwork is more than just filling a position; it’s about strategically building a network of skilled professionals who can drive your business forward. By understanding how to attract, vet, and retain the right talent, you set yourself up for long-term success.
Whether you’re looking for a one-time project expert or an ongoing collaboration, Upwork’s flexible hiring model allows you to scale your team with ease. With a global talent pool at your fingertips, you gain access to top professionals without the constraints of location or long-term commitments.
By following the best practices outlined in this guide, you can simplify your hiring process, minimize risks, and foster productive relationships with freelancers who bring real value to your business. The right freelancer could be the missing piece that boosts your growth. What are you waiting for? Your ideal freelancer just refreshed their Upwork profile – post your job before someone else snaps them up!
FAQs
What is Upwork?
Upwork is an online platform where businesses hire freelancers for jobs like writing, design, coding, and more.
Is Upwork free to join?
Freelancers can create a profile and browse jobs for free. To apply, they use Connects, which are limited and may need to be purchased. Upwork charges a freelancer service fee (usually 10%) based on the total earnings from each client.
How do clients pay on Upwork?
Clients on Upwork pay through the platform using secure methods like credit/debit cards, PayPal, or bank transfers. For hourly jobs, payments are made weekly based on tracked hours. For fixed-price projects, clients fund milestones in advance, and the money is released when the work is approved.
The industry group ICEA stated on April 13 that after the Trump administration lifted duties on a variety of consumer electronics, Indian shipments to the US of smartphones, laptops, and other devices are anticipated to become 20% less expensive than those from China. The announcement, which was made over the weekend, is thought to be a significant boon to India’s quickly expanding electronics manufacturing industry. Smartphones, tablets, laptops, flat-panel displays, and specific semiconductor components will no longer be subject to the reciprocal tariffs that the US previously placed on nations like China, India, and Vietnam.
Advantage to India and Vietnam Over China
The exemption suggests that when it comes to selling certain goods to the US, India and Vietnam now have a significant tariff advantage over China. The chairman of the India Cellular and Electronics Association (ICEA), Pankaj Mohindroo, pointed out that 20% of iPhones, laptops, tablets, and watches are still made in China. For China, just the reciprocal duty has been eliminated. All smartphones, computers, tablets, and iPhones that are exported to the US are duty-free from India. Additionally, all Samsung and other smartphone, laptop, and tablet exports to the US are duty-free in Vietnam. Therefore, Vietnam and India both have a 20% tariff advantage over China and are subject to similar levies on these goods. After weeks of worrying about possible disruptions in exports, ICEA, which represents big businesses like Apple, Foxconn, and Dixon, said the exemption was a welcome relief. The chairman went on to say that there won’t be any more unusual disruptions.
India Becoming a Hub for iPhone Production
According to Union minister Ashwini Vaishnaw, India has become a major location for Apple’s production, with iPhone exports alone exceeding INR 1.5 lakh crore in 2024–2025. This year, mobile phone exports totalled over INR 2 lakh crore, a 55% increase over the previous fiscal year. Given the ongoing trade tensions between the US and China, industry insiders think that this most recent development enhances India’s position in the global electronics supply chain. The head of the India Electronics and Semiconductor Association (IESA), Ashok Chandak, described the tariff exemption as a major, if potentially temporary, relief for multinational tech producers.
He claimed that although the short-term export frenzy has subsided, India’s long-term prospects are still strong. With over $250 billion in electronics imports from the US, of which 30% still originate in China, Chandak went on to say that India has a lot of space to develop from its existing $12 billion base. He went on to say that now is a critical time for Indian companies to expand, refocus their plans, and solidify their place in the global electronics value chains. India needs to put even more effort into creating sustainable, long-term competitive advantages if it hopes to reach its full potential.
Mehul Choksi, a fugitive diamond merchant who was wanted in relation to the loan fraud case against Punjab National Bank (PNB), was taken into custody by Belgian police on 14 April. Vijay Aggarwal, Choksi’s attorney, informed reporters that the 65-year-old was taken into custody on April 12 and is presently imprisoned. He stated that they would resist India’s request for extradition and submit an application against his arrest. Citing reasons for Choksi’s appeal, Aggarwal assured reporters that his client is not a flight risk. He is receiving cancer therapy and is very ill. The CBI and Enforcement Directorate (ED) are seeking Choksi and his nephew Nirav Modi, who is awaiting extradition from London, for allegedly cheating the bank out of over INR 13,500 crore in 2018.
How Scam was Executed
Choksi, Modi, and the managing director of his company, Gitanjali Gems, were among the entities against which the PNB lodged a criminal complaint. They allegedly bribed executives at the bank’s Brady House office in Mumbai by using foreign letters of credit (FLCs) and letters of undertaking (LoUs). Weeks before the PNB scam came to light, Choksi and Modi left India in January 2018. Mehul Choksi’s presence in the European nation was confirmed by the Belgian foreign ministry to an Indian media outlet last month. They stated in a communication that they were cognisant of his presence and gave it careful consideration. However, the ministry stated that it does not comment on specific situations. Nevertheless, the FPS Foreign Affairs is still keeping a careful eye on the progress of this significant case.
Choksi on the Run
After getting a “residency card” in Belgium, Mehul Choksi and his wife, Preeti Choksi, have been residing in Antwerp. He was an Antiguan and Barbudan national who allegedly fled the island nation to receive cancer treatment with plans to relocate to Switzerland. He was discovered in Dominica, another Caribbean island nation, after going missing in Antigua in 2021. Union Finance Minister Nirmala Sitharaman informed lawmakers in December 2024 that properties valued at INR 2,565.90 crore had been either sold or restored to cover the debts of wanted people like Choksi.
Why Extradition will not be a Cake Walk?
The extradition procedure won’t be quick or simple, according to Choksi’s legal team, despite India’s increasing efforts to bring him back. “There’s no push,” Aggarwal noted. It’s a procedure. He has been the subject of non-bailable warrants since 2018. The presence of an open-ended, non-bailable warrant is a need for extradition. They had already attempted, but failed, to pick him up from Dominica. His client was receiving therapy in Antigua as a result of the Dominican court order. He had to travel to Belgium for medical treatment, and he has been receiving cancer therapy there. He clarified that a number of legal procedures must be completed before a country can extradite someone, including an arrest, bail processes, and discussions regarding the individual’s health, community links, and potential flight risk.
The newly secured fund will be used to develop next-gen AI imaging payloads, high-speed space-based surveillance solutions and to penetrate global markets.
Optimized Electrotech Pvt Ltd (OEPL), a pioneering deep-tech company specialising in imaging surveillance technology, has successfully closed a $6 million Series A funding round led by Blume Ventures and Mela Ventures. This milestone reinforces OEPL’s position as one of India’s most promising startups in critical sectors like defence and space, driving innovation in AI-powered imaging payloads.
The round saw participation from 9Unicorns and existing investors, including Rajiv Dadlani Group and Venture Catalysts. Their continued support underscores confidence in OEPL’s mission and technology leadership. The round also saw participation from OEPL’s own leadership, with Co-founder and MD Sandeep Shah reaffirming his strong belief in the company’s long-term vision.
With four patents, multiple iDEX Challenge victories, and recognition for the prestigious ADITI (Acing Development of Innovative Technologies with iDEX) challenge win, Optimized Electrotech has been at the forefront of technological innovation. Fuelled by strong order growth, strategic partnerships, and an expanding customer base, the new funding will accelerate the development of next-generation imaging payloads for Autonomous ISR, high-speed imaging solutions for space applications and broader market reach.
“We’re really excited to back Optimized Electrotech, a company that’s pushing boundaries in defence and deep-tech innovation. Their expertise in AI-driven surveillance and electro-optic solutions fits right into India’s push for self-reliance in critical sectors. This investment isn’t just about funding—it’s about our belief in their ability to lead the way in technology and make a real impact in defence and space,”said Arpit Agarwal, Blume Ventures.
“Optimized Electrotech has demonstrated strong technical capabilities and consistent execution in the defence and deep tech sectors. Their focus on a R&D driven approach, rooted in indigenous innovation, positions them as a significant contributor to India’s growing defence and space ecosystem. The company’s intellectual property portfolio and repeated success in iDEX challenges, including the ADITI program, reflect a clear commitment to innovation. We are pleased to support Optimized Electrotech as they continue to build and scale their operations,” added Parthasarathy NS, Mela Ventures.
Commenting on the success of Series A funding, Sandeep Shah, Founder & MD, Optimized Electrotech said, “A war that is prevented is as important as the one that has to be won. In both scenarios, the future of warfare is increasingly going to be determined by machines, more so, by knowledge and dynamic decision-making. At Optimized Electrotech, we build solutions that aid quick decision-making using AI-based imaging. India’s defence and space sectors are undergoing a sea change. Driven by strong government policies and an increasing focus on indigenous capabilities, it’s important to build critical mass within this window of opportunity. This funding round is a testament to the confidence our investors have in our vision. We are committed to leveraging this capital to further enhance our technological capabilities, expand our footprint, and contribute meaningfully to India’s strategic and security objectives.”
With this infusion of capital, Optimized Electrotech is poised to transform the Security and Surveillance landscape, delivering cutting-edge solutions for India and beyond.
About Optimized Electrotech
Founded in 2017 and led by promoters, Sandeep Shah and Dharin Shah, Optimized Electrotech is revolutionising AI-driven imaging solutions for ISR and critical strategic applications. The Company develops cutting-edge electro-optic systems, spanning the electromagnetic spectrum, enhancing defense, space, border security, and aerospace operations. By integrating onboard analytics, their advanced surveillance solutions provide real-time intelligence, strengthening situational awareness in high-stakes environments.
With a relentless focus on innovation, indigenous technology development, and strategic surveillance solutions, the Company has redefined how intelligence, reconnaissance, and security operations are conducted, strengthening India’s indigenous defense capabilities and global competitiveness in deep tech. As one of India’s fastest-growing Deep-Tech startups in Defence & Space, Optimized Electrotech continues to lead the way in strategic surveillance and indigenous imaging technology development, reinforcing India’s position in the global market.
The beauty industry has changed a lot in the last few decades. Fair, white, and dusky complexions does not matter much now, as they used to be the focus of the beauty industry in the past. Healthy skin has taken over it. “Healthy Skin” has often been referred to now as “Happy Skin.” To keep the skin healthy and happy, skincare is the ultimate solution.
Foxtale is a skincare brand that provides skin care products to make your skin happy at an affordable rate. It is a woman-led startup that was started with the knowledge of the skin types of thousands of women and the challenges they face in their skincare routine. The startup is focused on making every woman’s skin healthy with products made with the safest and most efficacious ingredients.
Read to know more about Foxtale, its founder, business model, revenue model, and more.
Foxtale is a cosmetics and skincare brand that is headquartered in Mumbai. Founded in 2021, Foxtale offers skincare products that are specifically formulated for the Indian skin types and Indian climates. The company wants to simply provide highly efficacious products that have the ability to bring each human 2 minutes of happiness every day without making a hole in their pockets or requiring them to have a 14-step skincare routine.
Foxtale – Industry
According to Statista’s comprehensive data research, the beauty and personal care market in India is expected to grow at a substantial rate, with a predicted revenue of US $31.51 billion by 2024. The market is anticipated to increase at a consistent annual rate of 3% between 2024 and 2028, indicating that the nation’s beauty and personal care sectors are headed in the right direction.
This optimistic projection highlights how dynamic the market is, offering plenty of chances for companies in this industry to prosper and adapt to the changing needs of their clientele.
Foxtale – Founder and Team
Romita Mazumdar is the Co-Founder and CEO of Foxtale.
Romita Mazumdar
Romita Mazumdar, Co-Founder and CEO of Foxtale
Romita Mazumdar is the Co-Founder and CEO of Foxtale. She is an alumnus of the University of California, Los Angeles. Romita started her career with HDFC Finance as an intern. She then went on to serve at four companies, including Bank of America, Provident Healthcare Partners, Harbor Ridge Capital, and more.
The company has around 51–200 employees.
Foxtale – Startup Story
In 2019, Foxtale’s founder, who had previously worked for Bank of America, made the decision to start a new business venture, motivated by the growing potential in India’s internet banking industry. The firm naturally changed its focus from makeup and personal care to skincare, specifically catering to the particular requirements of Indian skin.
Romita, the founder, is aware of the widespread impact of foreign beauty standards and wants to redefine beauty by creating products that cater to more than 200 different types of Indian skin. Based on three fundamental principles—simplicity, efficacy, and safety—Foxtale designs its products with the best interests of its clients in mind. Foxtale is a skincare brand that caters to the diverse range of its audience, changing beauty standards and addressing a variety of skin ailments faced by Indians and women of color.
When I decided that I wanted to create a skincare brand, I realised that the first thing I need to do is understand women,” says Mazumdar, who interviewed roughly a thousand women to understand their skin types and product-related problems. Through this research, Mazumdar came across a big problem in the industry. There weren’t skincare products that were quick to solve people’s problems and those that could be used consistently. “Either these products weren’t available or were extremely expensive,” says Mazumdar, who wanted to create a brand that solves the problems of consistency and affordability. Thus, Foxtale was born from the ‘tales’ of women.
Foxtale – Mission and Vision
Foxtale’s mission “is to provide goods that are incredibly effective for those who are also really effective! We think that skincare is more than just looking good.”
Foxtale’s vision is to “bridge the gap between efficacy and affordability, making skincare accessible to all.”
Foxtale’s legal name is “Foxtale Consumer Private Limited.”
Foxtale – Products and Services
The products of Foxtale aim to score the highest in terms of efficacy and have claimed to launch only after 97% of its community approves of their efficacy.
The four main products of Foxtale are:
Foxtale Vitamin C Serum
Foxtale Zero: White Cast Sunscreen
Foxtale Smoothening Moisturiser
Foxtale Hydrating Face Wash
Foxtale Products
The Foxtale products can also be filtered according to skin types, like:
Oily Skin
Dry Skin
Sensitive Skin
Combination Skin
Foxtale – Business Model
Foxtale is a direct-to-consumer (D2C) company that primarily relies on a simple business plan. The business gets money via commissions on products that are featured on its website and app, both connected to the products and the delivery of such things.
Through direct customer interaction, Foxtale generates revenue through commissions on goods sales and delivery services while streamlining the purchasing process. With this direct-to-consumer (D2C) strategy, Foxtale can maximize its revenue streams while fostering a more intimate and tailored relationship with its clients by providing them with a carefully chosen range of skincare items.
Foxtale – Revenue Model
Foxtale makes money from different resources; some of the prominent ones are:
Sales from repeat customers:
Foxtale depends on a consistent flow of revenue from clients who buy skincare items on a regular basis. This promotes brand loyalty by highlighting the company’s dedication to high-quality products and customer pleasure.
Customer Retention:
A crucial component of Foxtale’s business strategy is cultivating enduring connections with customers. By providing a reliable and fulfilling experience, Foxtale urges clients to stick with them for their skincare requirements.
Revenue from advertising and campaigns:
Foxtale invests in campaigns and advertising to diversify their revenue streams. In order to increase its consumer base and generate extra cash, the company works with partners, produces sponsored content, and holds promotions.
Foxtale – Challenges Faced
In the cutthroat cosmetics market, Romita Mazumdar faced a number of obstacles when she founded Foxtale. A significant obstacle was the seeming dearth of skincare products that provided both rapid fixes and regular use, creating a void in the market. In order to solve this, Mazumdar carried out a thorough investigation in which she spoke with about a more than 3,000 women to learn about their various skin types and product-related worries.
The problem facing the industry was twofold: either these needs could not be satisfied by products, or they were too costly. This gap in the market served as the impetus for Foxtale’s ambition to establish a brand that guaranteed accessibility and affordability for its clients while simultaneously offering potent answers to skincare issues.
A major issue was navigating the intricacies of satisfying customer requests for affordable products, reliable usage, and speedy results while standing out in a competitive market. Nonetheless, Foxtale was founded on Mazumdar’s dedication to comprehending women’s skincare requirements and filling the industry vacuum.
Foxtale – Funding and Investors
Foxtale has raised$67.15 million in 5 rounds of funding.
Here are the funding details:
Date
Funding Round
Amount
Investors
January 15, 2025
Series C
$17 million
KOSE
June 12, 2024
Series B
$30 million
Panthera Growth Partners
March 7, 2024
Venture Round
$14 million
Panthera Growth Partners
June 14, 2022
Pre-Series A Funding
$4 Million
Matrix Partners India
December 8, 2021
Seed Round
$705K
Kae Capital, Kunal Shah, Nitin Gupta
Foxtale Financials
Foxtale Financials
FY23
FY 24
Operating Revenue
INR 13.8 crore
INR 13 crore
Profit/Loss
INR – 18.49 crore
INR -55 crore
Foxtale Financials
Foxtale – Awards and Achievements
Foxtale demonstrated its excellence in the business by winning the coveted D2C Brand of the Year title in the Beauty and Personal Care category at the 2023 Economic Times Retail E-Commerce and Digital Natives title.
Foxtale – Competitors
Foxtale is surrounded by reputed companies as competitors in the D2C beauty and skincare market. Some of the Foxtale competitors are:
Foxtale’s vision is to build a Rs 1,000 crore brand within the next three to four years. They are actively expanding into new categories, staying committed to delivering exceptional products tailored for Indian consumers. For the company, success is not just about scale—it’s about doing right by our customers, understanding their needs, and bringing them high-quality, effective skincare solutions. As the company continue to grow, their focus remains on innovation, accessibility, and building long-term trust with our audience.
FAQs
When was Foxtale founded?
Foxtale was founded in 2021 in Mumbai.
Who is the founder of Foxtale?
Romita Mazumdar is the founder of Foxtale.
Who is the CEO of Foxtale?
Romita Mazumdar, the Founder of the company is the CEO of Foxtale.
Over the past decade, the gig economy has undergone a remarkable transformation, emerging as a defining feature of the modern workforce. As we move through 2025, traditional 9-to-5 employment is no longer the default path to career success. Instead, professionals worldwide are increasingly opting for independent work, drawn by the freedom to choose their projects, set their schedules, and collaborate with clients across industries and borders.
Businesses are also adapting to this new reality. To stay upgraded, they are turning to freelancers for agility, specialized skills, and cost-effective scalability. From tech and finance to creative and consulting, organizations now see independent professionals as essential partners, not just temporary labor. This shift reflects a broader recognition that the future of work is flexible, decentralized, and talent-driven.
However, with rapid growth comes both exciting opportunities and new challenges. As we look ahead, what trends will shape the gig economy in 2025? What obstacles must freelancers and businesses navigate? And how is Upwork positioning itself as a leader in this evolving landscape? Understanding these key factors is crucial for staying ahead in the dynamic world of freelancing.
Projection of Gig Workers Using Employment Growth (MN)
Key Trends Defining the Gig Economy in 2025
1. AI and Automation Reshaping Freelance Work
Automation and artificial intelligence are no longer just buzzwords; they are redefining the gig economy. AI-driven platforms now match freelancers with projects more efficiently, reducing the time it takes to find work. However, automation is also replacing certain low-skill tasks, making it imperative for freelancers to upskill and focus on areas that require human creativity and strategic thinking.
2. A Surge in Highly Specialized Freelancers
Businesses are increasingly looking for experts rather than generalists. In 2025, niche specializations in fields like AI development, blockchain, cybersecurity, and digital marketing are in high demand. Freelancers who position themselves as authorities in these areas have a competitive edge.
3. Remote Work as the Default, Not the Exception
The COVID-19 pandemic accelerated remote work adoption, and by 2025, it will have become the norm. Companies now integrate freelancers into their core operations, hiring them on a project-by-project basis rather than keeping full-time employees. This trend benefits freelancers who seek global opportunities without geographical limitations.
4. Freelance Platforms Evolving to Meet New Demands
Gig platforms like Upwork have enhanced their offerings to cater to the growing freelance workforce. AI-driven job matching, verified credentials, escrow-based payments, and enhanced security measures ensure a smoother experience for both freelancers and clients.
5. Regulations and Worker Protections Taking Center Stage
With the gig economy booming, governments are stepping in to regulate freelance work. In 2025, many regions introduced policies around fair wages, benefits, and worker classification. While this provides stability for freelancers, it also presents compliance challenges for businesses and platforms.
The numbers speak for themselves when it comes to the rapid expansion of the gig economy:
Market Size: The global gig economy market was USD 556.7 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 16.18%, reaching USD 2,146.87 billion by 2033.
Freelancer Workforce: An estimated 1.57 billion people, or nearly 47% of the global workforce, will be engaged in freelance work by 2025.
Earnings Growth: The average freelancer’s annual income has increased significantly, with high-skilled freelancers in tech and finance sectors earning over $100,000 per year.
Business Adoption: Over 75% of companies now outsource work to freelancers, with 40% of them planning to increase their reliance on contract workers.
These statistics reinforce the gig economy’s growing impact, showing why businesses and professionals must adapt to this evolving landscape.
Data on Gig Economy on Platform
Opportunities in the Gig Economy
1. Increased Earning Potential
Highly skilled freelancers are now commanding premium rates. With companies prioritizing expertise over cost-cutting, professionals with strong portfolios can negotiate higher fees.
2. Business Expansion Without Borders
Freelancers are no longer confined to local markets. With better connectivity and advanced collaboration tools, professionals can work with clients across the globe, accessing higher-paying markets.
3. Diverse Work Options for Every Lifestyle
Whether it’s full-time freelancing, side gigs, or project-based work, individuals now have unprecedented control over their careers. This flexibility attracts professionals seeking work-life balance.
Industries Experiencing the Biggest Freelancer Demand Spikes
Beyond emerging fields, certain industries are experiencing a surge in freelance hiring due to digital transformation and shifting market needs:
Cybersecurity: As cyber threats grow, companies need freelance security experts for penetration testing, vulnerability assessments, and incident response.
E-learning & EdTech: Online education is booming, creating demand for freelance course developers, instructional designers, and subject matter experts.
Healthcare Tech & Telemedicine: Freelancers are needed for medical writing, health data analytics, and UX/UI design for healthcare apps.
E-commerce & Digital Marketing: Brands are hiring specialists in SEO, social media strategy, and paid advertising to compete in the digital marketplace.
Content Creation & Influencer Marketing: With the rise of short-form video and live streaming, freelancers skilled in video editing, podcast production, and influencer collaborations are thriving.
Breakdown of Gig Workforce in India
Challenges and How to Overcome Them
1. Rising Competition Among Freelancers
As the gig economy grows, so does competition. Standing out requires strong branding, consistent upskilling, and building a solid online presence.
2. Financial Uncertainty and Income Instability
Without employer benefits, freelancers must take charge of their finances. This means setting aside funds for taxes, healthcare, and retirement planning.
3. Navigating Legal Complexities
New gig economy regulations mean freelancers should stay informed about labor laws, taxation, and contract agreements to ensure compliance.
Upwork: Leading the Way in the Gig Economy
Upwork remains a dominant factor in the gig economy, continuously innovating to address industry shifts. By enhancing AI-driven job recommendations, providing secure payment systems, and advocating for freelancer rights, Upwork is positioned as a leader in the evolving freelance market.
Examples
The success of the gig economy is best illustrated through real-world examples. Freelancers and businesses alike have leveraged platforms like Upwork to achieve incredible milestones.
Freelancer Success Story: Maria, a digital marketing specialist from Spain, transitioned from a traditional job to freelancing through Upwork. Within a year, she built a six-figure business by working with clients across Europe and North America. Her expertise in SEO and content strategy made her a sought-after consultant, proving that niche specialization is key in 2025.
Business Transformation: A U.S.-based tech startup struggled to find local talent for an urgent AI development project. Turning to Upwork, they connected with skilled professionals from India and Canada. This collaboration helped them launch their product ahead of schedule while significantly reducing hiring costs.
These examples highlight the real impact of the gig economy and how platforms like Upwork continue to connect talent with opportunity.
Current Market Size and Projected Growth
In 2024, the global gig economy was valued at $556.7 billion. Projections indicate that this figure will more than triple, reaching approximately $1,847 billion by 2032. This substantial growth underscores the increasing reliance on freelance and contract-based work across various industries worldwide.
Most Demanded Jobs in the Gig Segment, Rise in demand (%)
The Growing Demand for Client Management and Collaboration Skills
As remote work becomes the standard, companies seek freelancers who can seamlessly integrate into their teams. This means:
Understand project workflows and use tools like Slack, Trello, and Notion.
Collaborating with in-house teams without disrupting existing structures.
Managing multiple stakeholders and balancing priorities effectively.
Providing an exceptional client experience by being reliable, responsive, and proactive.
Freelancer Earnings and Economic Impact
Freelancers in the United States are making significant financial contributions:
Average Earnings: The average annual income for U.S. freelancers is over $99,000, with a salary range spanning from $31,000 to $275,000 per year.
Economic Contribution: In 2023, American freelancers contributed approximately $1.27 trillion in annual earnings to the U.S. economy, highlighting the sector’s substantial economic impact.
The composition of the workforce is shifting notably towards freelance work:
Workforce Participation: By 2025, gig workers are expected to comprise nearly 50% of the U.S. workforce, reflecting a broader shift toward flexible and project-based employment models.
Global Participation: The Asia-Pacific region is projected to have over 400 million gig workers by 2025, indicating a significant global embrace of freelance work.
Freelancer Checklist: Winning Strategies for 2025
1. Build a “Personal MoAT”
What it is: A “Personal MoAT” refers to your unique, defensible advantage that protects you from competition, especially from AI and lower-cost freelancers.
In 2025, when AI handles routine tasks and global talent pools are more competitive than ever, a strong MoAT ensures you stand out, command higher rates, and secure long-term clients.
Case study: A cybersecurity freelancer increased rates by 300% after publishing vulnerability research on GitHub.
Examples:
A marketing freelancer develops a “5-Step Viral Hook Formula” used by top brands.
A designer displays “Featured in Forbes” or logos of Fortune 500 clients.
A cybersecurity freelancer publishes zero-day exploit research on GitHub, attracting enterprise clients.
2. Master the “Client Flywheel”
Step 1: Use Upwork’s AI proposals to land quick wins.
Step 2: Upsell retained clients with subscription services (e.g., “Monthly SEO Health Checks”).
Example: A graphic designer uses AI-generated proposals to secure 5 logo design gigs in a week.
3. Financial Firewalls
Rule: Keep 6 months’ expenses in freelancer emergency funds.
Tool: Upwork’s Escrow+ holds milestone payments with interest.
Example: A web developer sets aside 30% of each payment into Escrow+, earning passive interest while ensuring cash flow security.
How to Tap the Freelance Goldmine?
Talent mapping: Use Upwork’s “Skills Heatmap“ to find undervalued talent pools (e.g., Eastern European AI trainers).
Compliance tech: Integrate Deel or Remote to automate global freelancer contracts.
Retention hack: Offer “perks-as-a-service” (discounted healthcare via Upwork Benefits Hub).
Upwork’s 2025 Edge: More Than a Marketplace
AI Trust Score: Rates freelancers on delivery accuracy and client responsiveness.
Enterprise tier: Custom talent pools for large organizations (e.g., “Salesforce Certified Devs Only”).
Learning Hub: Offering microlearning courses in AI, machine learning, and digital skills.
Hourly Rates and Job Satisfaction
Freelancer earnings vary based on factors such as skill level, industry, and experience:
Hourly Rates: The average hourly rate for freelancers in North America was approximately $47.71 in 2025.
Job Satisfaction: While freelancing offers flexibility, more than 40% of freelancers express concerns about income stability, emphasizing the need for financial planning and diversification.
These statistics highlight the dynamic nature of the gig economy in 2025. As the sector continues to evolve, platforms like Upwork play a pivotal role in connecting skilled freelancers with businesses seeking specialized talent, fostering a thriving ecosystem for independent work.
The gig economy in 2025 offers exciting opportunities but also presents new challenges. For freelancers, success lies in adaptability, utilizing technological advancements, specializing in high-demand skills, and staying informed about industry trends. With platforms like Upwork leading the way, the future of freelancing looks bright.
Whether you’re a freelancer or a business hunting for on-demand talent, the key to surviving in 2025 is to stay agile and proactive in exploring this dynamic landscape.
FAQs
What is the gig economy?
The gig economy is a labor market where people work on short-term jobs or freelance gigs instead of full-time, permanent jobs.
Which are the platforms that are gig economy platforms?
Fiverr, Upwork, Uber, and Swiggy are a few platforms that are gig economy platforms.
What is the market size of the Gig economy?
In 2024, the global gig economy was valued at $556.7 billion. Projections indicate that this figure will more than triple, reaching approximately $1,847 billion by 2032.
TCS , the largest IT company in India , lost over INR 24,295 crore in valuation during the short trading week ending April 11. TCS stock fell 3.82 % during the week to close at INR 3,238 . This decline pulled the TCS market valuation down to only INR 11.69 lakh crore . Meanwhile, the overall Indian stock market also lost ground, with the BSE Sensex and Nifty Index each losing over 200 points during the week.
Following the revelation that annual salary increases would be postponed, investors reacted with caution. This was a reaction to what appeared to be a sign that future growth and workforce morale at the IT giant were in jeopardy.
Salary Hike Deferral Triggers Concern
TCS has declared that it will put on hold its planned employee salary hikes for April 2025, attributing the decision to global uncertainty and changing trade dynamics. The announcement came from Milind Lakkad, the company’s Chief Human Resources Officer. He pointed out that TCS will reassess its business performance during the year and may implement raises at any time depending on conditions.
Fresh graduate hiring is predicted to stay even or perhaps rise in FY26, but the indefinite nature of the salary hike decision has left employees and analysts in a tizzy trying to figure if this is a not-so-subtle means of achieving cost-cutting objectives in an uncertain global environment.
Tariff Uncertainty Casts a Shadow
The ongoing uncertainty about U.S. tariffs only adds to the pressure. TCS Chief Executive Officer and Managing Director K. Krithivasan articulated these concerns in an earnings conference call, saying he is hopeful the turbulence will turn out to be temporary. He believes the impact on the IT services sector is likely to ease within a few months. Yet, until there is clarity, the sector continues to operate in a climate of hesitation and restrained optimism, an ambiance that has translated into cautious investor sentiment.
The postponement of pay increases, in conjunction with difficulties in trade, appears to have intensified the market’s nervousness and to have been a major factor in the company’s plummeting market cap this week.
Quarterly Results Reflect Mixed Performance
The company’s FY25 Q4 results added yet another layer of convolution. For the March quarter, the net profit slipped down to 12,224 crore and registered a 1.68% year-on-year decline. Revenue, however, rose 5.3% and came in at 64,479 crore. For the full FY25, TCS achieved a net profit of nearly 48,553 crore (5.76% growth), and a revenue number of nearly 2.55 lakh crore that represented nearly 6% growth.
Despite these numbers appearing to show resilience, they were not sufficient to calm markets that are unsettled by the bigger picture. The next few months will be crucial as TCS works its way through the global storms and the internal balancing act of pleasing its various stakeholders.
While pushing for American manufacturing, President Trump is imposing gigantic tariffs on China, where many American companies, including tech giant Apple, do a significant part of their business and most of their manufacturing. Apple, under CEO Tim Cook, has invested heavily in China over the past decade. Not only is the vast majority of the company’s hardware made there, but also the vast profits that Apple rakes in through its stores, its services, and its products. Indeed, without heavy reliance on Chinese manufacturing, Apple Inc. today would be a fraction of the company it is.
Tariffs are seen by Trump as a way to force businesses to return their operations to the U.S., and with them, the jobs that went along with them. He portrays them as a way to strengthen the manufacturing sector and the economy as a whole. An example we were given of a company reinvesting in America was Apple, which has promised to spend $500 billion over the next four years to build stuff in the U.S. The company spent $75 billion in the U.S. between 2014 and 2016, and some of it was for manufacturing.
A Decade-Old Dinner That Still Resonates
At a dinner in 2011 with then-President Barack Obama and prominent figures from Silicon Valley such as Google’s Eric Schmidt and Facebook’s Mark Zuckerberg, it was Apple’s Steve Jobs who delivered the evening’s sobering truth. When Obama asked what it would take to make iPhones in the United States, Jobs reportedly replied, “Those jobs aren’t coming back.”
Jobs’s sentiment was rooted in more than just costs. At the time, Apple execs made it clear that manufacturing overseas provided unrivaled scale, speed, and specialization. “From quick engineering changes on the factory floor to a workforce that could be mobilized at unprecedented scale,” Jobs and his team felt that China offered operational advantages that the U.S. couldn’t offer then, and can’t offer now.
Apple Moves Fast to Dodge Tariff Heat
When Trump’s tariffs started taking effect, Apple got moving. Right before new levies were about to hit, the company spent a reported $24 million to $30 million, moving six cargo flights’ worth (roughly 600 tons, or 1.5 million iPhones) from India to China, essentially airlifting the devices from one market to another.
This strategic airlift served as a reminder that even though Apple is putting alternative manufacturing hubs to the test, its logistics still run through China. Even with political will and financing, the fundamental barriers remain unchanged. The U.S. lacks the requisite manufacturing scale and rapid adaptability needed for mass electronics production at Apple’s standards. Unless those conditions change dramatically, large-scale iPhone production in the U.S. is more aspiration than reality.
