The hyperlocal e-commerce site Magicpin has lowered its platform fee to INR 5 per delivery in an effort to lower customer costs. This puts it at half the price that Zomato and Swiggy, two of its main rivals, charge. The decision was made at a time when many delivery service companies are raising their prices.
Move Can Boost Company’s Sales
Compared to its former INR 7 price, Magicpin’s new INR 5 fee represents a considerable savings of about 29%. Notably, the cut contrasts sharply with recent fee hikes by big food delivery companies, such as Zomato, which increased its platform cost from INR 7 to INR 10. Swiggy followed Zomato’s lead and increased their platform cost from INR 6 to INR 10.
Thus, by implementing this technique, the business is gaining an advantage in the race for quick commerce, and this step is undoubtedly aligned with attracting more users to Magicpin’s platform.
Company’s Oder Book Increases by Two Fold
Anshoo Sharma, the CEO of Magicpin, made the announcement on X (previously Twitter). Additionally, he gave users his word that the reduced fee would last until the end of 2024. Sharma underlined that this action was a part of a commitment to strike a balance between the demands of delivery workers and customers, enabling more people to enjoy their shopping experiences during festive times.
After this, Magicpin reported that, in comparison to the prior year, the company’s orders during the Diwali season doubled. Magicpin deviated from the norm this Diwali by making some firm platform pricing choices. As a result, during the long Diwali weekend, over half a million orders for festive food and love and support were received! This is twice what the business accomplished the previous year. “We appreciate Magicpin customers and have made the decision to stick to Magicpin Promise for the remainder of the year,” the firm announced, quoting Anshoo Sharma.
Beyond just food delivery, platform fees are also rising in industries like fashion and general e-commerce, making online shopping more and more costly. Little handling fees are also charged by BigBasket and Licious, although their shipping costs are cheaper at INR 15 and INR 39, respectively. The total cost of internet shopping is increased by these extra fees, which occasionally go unnoticed by customers.
What Magicpin Does?
Anshoo Sharma and Brij Bhushan co-founded Magicpin in 2015, and it is a significant player in hyperlocal retail. The platform thrives in the age of technology and fosters mutual development by connecting businesses of all sizes with customers. Magicpin becomes a major player in the ever-changing world of online commerce by employing innovative solutions to improve the shopping experience. Users of this online location intelligence platform can find nearby eateries, retail establishments, spas, and fitness facilities. With its headquarters located in Gurgaon, Haryana, Magicpin allows brands and merchants to interact with their customers and offer them customised deals.
Kochi, India, November 05, 2024: The crackling sound of fire piercing through melodious festival music is a sound that Mr. Rajesh Mehta, CEO of a leading multinational firm, will never forget. During last year’s Diwali celebration at his palatial Juhu residence, an overlooked sparkler in the courtyard triggered a fire that threatened to engulf his meticulously designed home.
While prompt action prevented a catastrophe, the incident left an indelible mark on Mumbai’s elite social circles, sparking crucial conversations about fire safety in luxury spaces.
Fire accidents during Diwali are a common phenomenon in the metropolitan cities. So much so that Delhi Fire Service’s data shows 208 emergency calls registered during Diwali. While the emergency rescue services across busy cities are gearing up to keep you safe, what preventive measures can you take?
Despite the usual preventive measures, fiery accidents are almost unavoidable. In that case, one can choose the smart life— the automated fire prevention systems from Invoteo Future.
Founded by visionaries Arun V. Panicker and Aswathy Arun, Invoteo Future delivers bespoke safety solutions that seamlessly blend with the sophisticated aesthetics of luxury properties while offering unparalleled protection.
Invoteo Future Offers Significant Technologies
For the discerning homeowner, Invoteo Future’s advanced fire detection systems include:
Smart Fire Alarm Systems: Ultra-sensitive IoT-enabled sensors discreetly positioned throughout your residence, monitoring for the slightest hint of smoke, heat, or harmful gases.
Executive Mobile Integration: Instant alerts delivered to your smartphone, ensuring awareness whether you’re in your home office or attending a board meeting abroad.
Protect Your Dear Ones with Premium Solutions
The foundation of Invoteo’s offering is its cutting-edge suppression systems:
Advanced Gas Suppression: Utilizing premium FM-200 and CO2 systems for protecting valuable art collections and home theaters.
Smart Sprinkler Networks: Precision-engineered water suppression systems with minimal aesthetic impact.
The Intelligence Behind Innovation: AI-Powered Protection
At the heart of Invoteo Future’s protection systems lies cutting-edge artificial intelligence, setting new standards in fire safety. It’s worth mentioning that Invoteo’s signature Thermal Camera detects or identifies leaks or hotspots and warns the owners by sending alerts and notifications to their phones before a fire initiates.
These AI-enabled cameras work seamlessly with your existing security infrastructure, while sophisticated machine learning algorithms continuously analyze data to predict and prevent potential risks before they occur. The system’s true elegance lies in its complete compatibility with your smart home ecosystem and building management solutions, ensuring a unified approach to property protection.
Signature Services for Premium Protection
Invoteo Future’s elite service portfolio testifies to its dedication to excellence, perfectly complementing its technological innovations. The services include personalized consultations, where safety experts conduct meticulous risk assessments uniquely tailored to your property’s distinct characteristics.
The company’s white-glove installation service ensures that every system is integrated with unwavering respect for your property’s aesthetic integrity. Completing this premium service triangle is the 24/7 dedicated monitoring service, offering round-the-clock surveillance with priority response protocols, ensuring your peace of mind never takes a pause.
As everyone gathers this season for another round of celebrations, many of their homes now stand protected by Invoteo Future’s invisible shield of safety. The company’s ISO 9001:2015 certification and recognition by Start-up India and Kerala Start-up Mission underscore its commitment to excellence.
“In the realm of luxury living, safety shouldn’t be an afterthought—it should be an invisible, ever-present guardian,” reflects Arun V. Panicker.”Our systems ensure that our clients can focus on creating memories, not managing risks.”
For those who understand that true luxury encompasses both elegance and security, Invoteo Future stands ready to provide solutions that protect what matters most—your family, your assets, and your peace of mind.
In an effort to reward and retain its staff, Delhivery Limited, a well-known logistics company, announced the extension of its employee stock option plan (ESOP) pool, awarding 6,49,547 equity shares.
According to a formal exchange filing, this allocation was approved by the Stakeholders’ Relationship Committee on July 8, 2024. Delhivery’s paid-up share capital has increased from INR 73.85 crore to INR 73.91 crore as a result of this most recent allocation. The newly awarded ESOPs are worth about INR 25.4 crore based on the most recent opening stock price.
In little more than a month, Delhivery’s ESOP pool has grown three times with this allocation. The business granted 36,525 stock options to the ESOP 2012 plan earlier in July. Before that, Delhivery had added 11.06 lakh stock options to the ESOP pool in June.
Performance in Terms of Finances and Strategic Initiatives
Delhivery has experienced financial difficulties in spite of these calculated attempts to raise staff engagement. Compared to the net profit of INR 11.7 crore reported in the previous quarter, the company’s consolidated net loss for the fourth quarter of FY24 was INR 69 crore.
A decrease in express parcel and cross-border service volumes was the main cause of the 5% quarter-over-quarter drop in operations revenue to INR 2,076 crore. Delhivery has also revealed plans to establish Delhivery Robotics India as a wholly-owned subsidiary in keeping with its strategic growth ambitions.
This new business endeavour, which reflects Delhivery’s dedication to innovation and growth in logistics solutions, intends to produce drones and offer freight air transportation services.
Current Patterns in the Market
The expansion of ESOP pools is not a Delhivery-specific trend. Significant ESOP allocations have also lately been announced by a number of other cutting-edge software businesses.
For example, Nykaa distributed over 4.73 lakh ESOPs last month, and Paytm distributed over 2.81 lakh ESOPs recently. These actions are part of a larger industry trend that uses ESOPs as a tool to draw in, inspire, and keep top people in a cutthroat market.
Paytm Expands ESOP Pool
Similar to this, One97 Communications-owned Fintech giant Paytm stated that it has expanded its employee stock option plan (ESOP) pool by giving its employees 281,394 equity shares. This move is typically made to retain talent.
In a July 7 stock exchange filing, Paytm stated that it has authorised the distribution of 281,394 equity shares, fully paid-up, with a face value of INR 1 each, to qualified workers.
According to the business release, the shares would be distributed under the Employee Stock Option Schemes of 2008 and 2019. Paytm stated that the change would raise its issued, subscribed, and paid-up equity share capital to INR 636,274,090, which would be made up of 636,274,090 equity shares with a face value of INR 1 each.
According to a senior corporate official on 2 November 2024, the Diwali season sale during the Amazon Great Indian Festival (AGIF) 2024, which started on September 27, was driven by demand for high-end products across a variety of categories, including televisions, smartphones, and major appliances.
During the Amazon Great Indian Festival (AGIF) 2024, the business saw a ten-fold increase in sales of Apple iPads and a five-fold increase in sales of Samsung tablets, according to Amazon India Vice President Saurabh Srivastava, who spoke to a media agency.
Premiumization was one obvious trend that existed. Upon closer inspection, a distinct tendency of premiumization is seen in everything from televisions to fashion and beauty items, gaming laptops, and kitchen and household appliances. Consumers are favouring more high-end goods. Srivastava reiterated that this is not exclusive to major cities.
Sale of Television Sets Dominated AGIF 2024
About 30% of the segment’s total unit sales were large-screen TVs, and demand for these devices increased tenfold year over year, with Samsung, Xiaomi, and Sony emerging as the most popular TV manufacturers.
Apple and Samsung are high-end tablet manufacturers. Samsung tablets increased five times year over year (YoY), whereas Apple tablets increased ten times. Large appliances include washing machines, refrigerators, and air conditioners, of course, but high-end models like front-loading washers, side-by-side refrigerators, and air conditioners larger than 1.5 tonnes increased 30% year over year, according to Srivastava. Watches, perfumes, handbags, Korean beauty, jewellery, luggage, and other luxury categories saw a 400% increase in the fashion and beauty sector.
Comparison of AGIF 2024 with AGIF 2023
The Amazon Great Indian Festival 2024 received 140 crore customer visits, the biggest ever. According to Srivastava, more than 85% of clients came from non-metropolitan cities. Amazon India reported a 50% year-on-year increase in B2B clients making their first purchase from Amazon Business.
AGIF 2024 has set new milestones for seller success, with more than 70% more vendors achieving a crore in sales than the previous year. The online marketplace expanded its rapid delivery capabilities, delivering over 3 crore products to Prime members across India on the same or next day, a 26% rise from the previous year.
Amazon Raises Content Creator Commission During the Festive Sale
Earlier, Amazon in order to further increase it awareness among the Indian masses, it had increased its normal commission earning rates for select categories within its network of over 50,000 influencers ahead of the festive sale.
According to its site, for active creators who collaborate with Amazon, the updated commission structure offers influencers a significant rise ranging from 1.5x to 2x across a wide range of product categories, including fashion, beauty, and personal care products.
At that point, Director of shopping initiatives for India and emerging markets, Zahid Khan stated that Amazon is giving creators the tools and incentives they need to succeed during the festive season and beyond by drastically raising commission rates across important categories, the company is providing additional incentives through various programs to further back these creators.
Between September and October of 2024, the volume and value of transactions using the Unified Payments Interface (UPI) increased fairly. According to figures released by the National Payments Corporation of India (NPCI), the digital payment network logged 16.58 billion transactions in October, a 10% rise from 15.04 billion in September.
From INR 20.64 lakh crore in September to INR 23.50 lakh crore in October, the transaction value increased by 14%. A 37% increase in transaction value and a 45% increase in transaction quantity year over year drove this gain.
Average Daily Transaction Grows to 535 Million in October
Additionally, from September to October, the average daily transaction volume climbed from 501 million to 535 million, with the daily transaction amount reaching INR 75,801 crore, a significant rise from INR 68,800 crore the month before.
PhonePe continued to hold the top spot in the UPI market in India in September, accounting for 48% of all transactions. Second place went to Google Pay with 37.4%, and third place went to Paytm with 7%. The October market share figures are still pending.
New Adjustments Made by the NPCI
The parent firm of Paytm, One97 Communications Limited, was recently given permission by the National Payments Corporation of India (NPCI) to onboard new users onto its UPI network. It is anticipated that the Noida-based company will benefit from the new authorisation by increasing its user base and market share in the cutthroat UPI industry.
Significant adjustments to UPI transaction restrictions have been made by NPCI in recent weeks. The restrictions for UPI Lite Wallet and UPI 123Pay have also been lifted, and the maximum amount for some UPI payment types has been raised to Rs INR lakh. With these changes, the Indian government hopes to support its ambitious aim of 1 billion transactions per day by 2026–2027 by promoting a higher use of digital transactions.
How UPI has Become a Game-Changer in India’s Financial Market?
The Unified Payments Interface is a ground-breaking technology that has completely changed the financial scene in India. It has greatly simplified digital transactions and increased the accessibility and convenience of money transfers.
Additionally, UPI is essential for strengthening the Indian economy. This payment interface is equipped with a cutting-edge payment system, and it examines its features, advantages, and noteworthy influence on India’s economic development. The National Payments Corporation of India (NPCI) created the real-time payment system known as UPI. It makes it possible to combine several bank accounts into one mobile app. Fund transfers are made quick and simple by combining a number of banking functions.
With more than 100 banks providing UPI-based services, UPI has gained widespread acceptance in India and enables instantaneous, round-the-clock interbank transactions.
With a 26% increase in operating income and a revenue of over INR 5,500 crore in FY24, Google India has maintained its growth trajectory in the most recent fiscal year. However, in the fiscal year that ended in March 2024, Google India’s earnings after tax climbed by just 6% to INR 1,424 crore.
According to its financial statement obtained from the Registrar of Companies (RoC), Google India’s operating revenue climbed from INR 4,504 crore in FY23 to INR 5,518 crore in FY24.
In the meantime, the company’s other revenue increased by 106% to INR 403 crore from INR 195 crore in FY23. As a result, Google India’s overall revenue for FY24 increased from INR 4,700 crore to INR 5,921 crore.
The Revenue Model of Google India
Three main sources of income for Google India are enterprise products, IT-enabled services, and advertising. FY24 saw a 16% growth in revenue from IT-enabled services, reaching INR 2,389 crore. A sizeable amount of Google India’s revenue, the net sale of advertising space, increased 27% to INR 2,954 crore. Enterprise product revenue increased from INR 111 crore in FY23 to INR 174 crore in FY24, a 57% increase. This varied revenue stream highlights Google India’s growth into enterprise and IT services as well as its leading position in digital advertising.
Finance expenditures increased slightly by 6.4% to INR 142 crore, while employee benefit expenses increased by 10% to Rs 1989 crore. As a result of effective asset use, depreciation and amortisation expenses decreased marginally by 11.6% to Rs 277 crore from Rs 314 crore the previous year. At INR 1774 crore, other expenses—which include operational and administrative costs—saw a notable 31% increase. In FY24, Google India’s total expenses were INR 4,184.4 crore, up 16% from INR 3,609.4 crore in FY23.
Google’s Counterparts Giving a Tough Fight
Social media and e-commerce sites like Amazon, Meta (Facebook and Instagram), and local advertising companies compete with Google. By utilising its brand and wide range of products, including as search, YouTube, and Google Ads, which continue to generate substantial user engagement and income, Google sustains a strong market presence in spite of severe competition.
Facebook India Revenue in 2024
According to data released by Tofler, a market research firm, Facebook India Online Services, the advertising division of social media giant Meta, reported a 43% increase in profit to INR 504.9 crore for the fiscal year that concluded on March 31, 2024. In FY2023, the company reported a profit of INR 352.91 crore.
The activities of Facebook India Online Services Private Limited include selling advertising inventory to clients in India and offering Meta Platforms Inc. design and IT-enabled support services. In FY24, the company’s turnover increased by 9.33% to INR 3,034.82 crore from INR 2,775.78 crore in FY23. According to a report by Tofler, “the company’s total expenses for the fiscal were reported as INR 2,350 crore.”
It is cool even now. In fact, today’s SEO, if done the right way, can yield better results than anything else. Search Engine Optimisation (SEO) has become more crucial than ever for businesses to gain visibility and drive organic traffic to their websites, more so with so many blackhat techniques and GPT content pieces flooding the internet, every now and then. With the rapid advancements in technology, AI-powered SEO tools have emerged as powerful allies for marketers and SEO specialists in improving their organic performance. These tools leverage artificial intelligence to automate various SEO processes, from keyword research and content optimisation to competitor analysis and link building.
In this article, we will look into some of the top AI SEO tools available in 2024 that can help you automate your organic performance and achieve better search engine rankings. These tools are designed to provide valuable insights, enhance content creation, and optimise your website for improved visibility and engagement.
Semrush is a comprehensive AI-driven SEO tool that offers a wide range of features to support marketing professionals in maximising their success in organic search rankings. With Semrush, you can access millions of national and local keywords and uncover the most relevant and high-performing keywords for your content. The platform’s AI-powered Keyword Magic Tool provides long-tail keywords, search volume data, and keyword difficulty scores to help you get better out of your content effectively.
Semrush’s AI capabilities extend beyond keyword research. The platform offers an AI-driven site audit feature that identifies technical SEO issues and provides actionable recommendations for improvement. This ensures optimal site health and search visibility. Furthermore, Semrush’s AI tools assist users in making the most out of their ad spend, monitoring competitor ad copies and landing pages, and assessing Google Shopping ad campaigns.
Features:
AI-driven keyword research
Technical SEO audits
SERP position tracking
AI-enhanced content creation
Real-time content metrics
Competitor analysis
Keyword & backlink gap analysis
AI-powered ad optimization
Plans
Pricing
Pro
$139.95/Month
Guru
$249.95/Month
Enterprise
Starts at $5000/Month
2. Surfer SEO
Website
surferseo.com
Rating
4.8
Platform
Web
Best For
Small bloggers, organisations with multiple websites, and large agencies
Surfer SEO – Top AI SEO Tools
Surfer SEO is a popular AI-powered SEO tool that simplifies the optimisation process and helps you increase your website’s organic traffic and rankings. Trusted by leading companies such as Lenovo and Shopify, Surfer SEO offers a range of features to improve your SEO efforts.
One of the key features of Surfer SEO is its Grow Flow tool, which provides weekly SEO insights. It helps you identify high-ranking keywords, research niche topics, discover relevant internal links, and generate fresh content ideas. The Keyword Research tool allows you to find related topics and assess keyword difficulty instantly.
Surfer SEO’s SEO Audit tool helps you identify errors in your SEO strategy and provides valuable insights such as page speed, keyword density, missing backlinks, and NLP sentiment. The tool also allows you to monitor your competitors and improve your own website content based on their successful strategies.
Alli AI is an AI SEO tool that allows SEO teams to automate their efforts easily. It offers custom automation, enabling teams to tweak changes for every page without the need for coding know-how. Alli can be integrated into any content management system, making it accessible for businesses using platforms like Shopify and WordPress.
With Alli AI, you can automate time-consuming tasks such as meta tag optimisation, link descriptions, and alt tags for images. The tool’s algorithms are self-adjusting, meaning they adapt to SEO best practices. Alli AI’s live editor allows you to modify and streamline page content instantly, making it easy to update your website and publish changes immediately.
Additionally, Alli AI provides recommendations for link building by examining large websites online and in your industry. The tool’s AI reports offer valuable insights to improve your SEO strategy, including keyword ranking reports, recommendation exports, and site sales reports.
Features:
Content optimization
Automation
Live editor
Link-building
SEO reports
Plans
Pricing
Business
$299/Month
Agency
$599/Month
Enterprise
$1199/Month
4. RankIQ
Website
rankiq.com
Rating
4.7
Platform
Web
Best For
Bloggers and small businesses
RankIQ – Top AI SEO Tools
RankIQ is a user-friendly AI SEO tool that helps bloggers and businesses automate their SEO strategies. It suggests titles and content for your posts, making it easier to write better content quickly. RankIQ includes a list of carefully selected, high-traffic, low-competition keywords to boost your website’s organic search traffic.
RankIQ’s blog post outline feature generates content briefs based on the topics you should cover, allowing you to produce high-quality content that can rank on the first page of Google. The tool uses AI to find the best results on Google, ensuring you have the correct keywords in your arsenal. RankIQ also prepares a detailed AI SEO report based on Google search results.
The platform has an intuitive design and provides video clips to guide users on how to use the product effectively.
Features:
SEO content briefs
In-depth keyword research
Leading keywords by niche
Rank checks
Content optimization
Plans
Pricing
Monthly
$49/Month
5. Frase
Website
frase.io
Rating
4.8
Platform
Web
Best For
Content marketers and marketing agencies
Frase – Top AI SEO Tools
Frase is an AI SEO tool that simplifies content research and optimization. Trusted by clients like Coursera and Merkle, Frase helps users create thorough content briefs in minutes. It compiles, analyses, and consolidates the best content from SERPs, allowing you to research keywords, headings, and concepts used by your competitors.
Frase’s content upliftment and analytical features include an easy-to-use text editor for comparing your content to that of your competitors. The tool generates a topic list to assist you in publishing Google-friendly content. Frase’s dashboard analyses content opportunities and provides insights based on Google Search Console data, helping you stay on top of your SEO game.
The platform also offers a Crash Course section, providing comprehensive lessons and quick demo clips to help you start using the software immediately.
Diib is an AI SEO tool that provides SEO and traffic insights to help grow your business. With Diib, you can automate SEO and compare your performance against competitors. The tool offers a growth plan with customised objectives and alerts for SEO, social, mobile, and visitor experience.
Diib allows you to monitor your SEO keywords and backlinks, track competitor rankings and changes, and generate new keywords and content ideas. The tool also automates website monitoring, notifying you of any issues related to speed, security, rankings, and competitor activity.
Diib provides a daily health score to check the performance of your website, taking into account 12 metrics. This helps you stay on top of your SEO game and make data-driven decisions.
Features:
Growth plan
Keyword rankings
Checking of SEO gaps
Competitor monitoring
Website monitoring
Daily health score
Plans
Pricing
Free
$0/Month
Pro
$14.99/Month
7. Outranking
Website
outranking.io
Rating
4.7
Platform
Web
Best For
SMEs or solo freelance content creators
Outranking – Top AI SEO Tools
Outranking is an AI SEO tool that focuses on addressing organic traffic and engagement issues. The tool makes automatic content creation simple by analysing top-ranking sites and providing an automatic draft based on SERP data. You can then make further edits, fact-checks, and rewrites as needed.
Outranking ensures SEO is a priority in every generated content, including blog outlines, briefs, titles, and omni-channel campaigns. Its SEO Content Editor helps assess meta titles and descriptions, H2 and H3 tags, and answer ‘People Also Ask‘ questions. The tool is suitable for solo content creators or companies with smaller teams.
NeuronWriter is an AI-powered content tool that helps content writers create excellent articles and social media posts for improved search engine rankings. The tool’s AI Writer generates AI-written content for more efficient writing and SEO optimisation.
NeuronWriter leverages data on Google SERPs, competition insights, and natural language processing (NLP) to create effective content related to your target keyword. The tool also offers features such as internal linking recommendations, competitor analysis, and AI reports to further enhance your SEO strategy.
The platform supports over 170 languages, has a Document Management system, and comes with a content planner function for well-organized SEO campaigns.
Features:
AI Writer
Competitor Analysis
Content Planner
Custom Columns (analytics)
Multi-Language Support
Interoperability
Plans
Pricing
Bronze Plan
$14/Month
Silver Plan
$27/Month
Gold Plan
$41/Month
Platinum Plan
$55/Month
Diamond Plan
$70/Month
In conclusion, these top AI SEO tools can upscale your organic performance and help you achieve higher search engine rankings. Whether you’re a small blogger or a large agency, these tools offer valuable insights, automation, and streamlining features to enhance your SEO efforts. By leveraging the power of AI, you can stay ahead of the competition and drive more organic traffic to your website. It is important to choose the tool that best suits your needs and budget. Each tool has its unique features and strengths, so be sure to explore them thoroughly before making a decision. With the right AI SEO tool in your arsenal, you can unlock new opportunities for growth and success in the traffic-thirsty online era. However, as we have always said – it is about the ‘horses for courses’ approach.
FAQ
What are the best AI tools for SEO rankings?
Here are some of the best AI tools for SEO rankings:
Semrush
Surfer SEO
Alli AI
RankIQ
Frase
Diib
Outranking
NeuronWriter
How to use AI for search engine optimization?
AI can boost SEO by optimizing keywords, generating content ideas, analyzing competitors, improving user experience, automating reporting, and personalizing search results.
Does Google SEO punish AI?
No, Google doesn’t punish AI content outright. It focuses on content quality, relevance, and value. If AI-generated content meets these standards, it can rank well. However, low-quality or spammy AI content may be penalized.
Noel Tata, recently cataloged in the media as Ratan Tata’s half-brother, has silently carved out a significant niche for himself in the oceanic Tata Empire. Overshadowed by the more prominent figures in the family like Ratan Tata, Noel’s contributions to the Tata Group’s success and commitment to social causes have been instrumental in shaping the conglomerate’s retail division and enduring legacy.
Born into the family of legends, Noel Tata joined the Tata Group in 1999 and took over Trent, the retail arm of the huge empire. Under his strategic leadership, Trent came to the forefront of India’s gigantic retail market, diversifying its offering and expanding its footprint. A man of few words with keen business acumen, Noel has played a quintessential role in various Tata ventures, ranging from retail to hospitality.
From his initial days at Tata Industries to becoming the Chairman of Tata International, let us uncover Noel’s challenges and lessons learned in life along the way. Learn about Noel Tata, his education, career, family, and more from this article.
Noel Tata – Biography
Name
Noel Naval Tata
Born
December 1957
Nationality
Indian-born Irish Citizen
Hometown
Mumbai, India
Education
University of Sussex, England INSEAD Business School, France
Position
Chairman Tata Trust Chairman Trent and Tata Corporation Chairman, Non-Executive Director Tata International Vice Chairman Titan Company and Tata Steel Non-Executive Director, Tata Sons
Noel Tata was born with a golden spoon to the legendary Naval Tata and Simone Tata (née Dunoyer) in December 1957. Even though he was born with a golden spoon, Noel’s upbringing has been through understated channels, laying a foundation of benevolence.
His early education was completed in Mumbai, where he immersed himself in the city’s rich culture and tradition that posed a strong foundation of Tata family values. To pursue higher education, Noel flew to England, where he earned a bachelor’s degree from the University of Sussex in the United Kingdom.
To further polish his business acumen, Noel enrolled in the International Executive Program (IEP) at INSEAD Business School in France. His academic journey in England and France helped him acquire a global perspective on business management.
Noel Tata – Career
Noel Tata started his career with the Tata Group in foundational roles and steadily grew through the ranks, demonstrating his leadership skills, and innovative approach and gaining the trust of the vast conglomerate.
His first step in the group was at Tata International, the global trading division of Tata Group, and eventually, he became its Managing Director in 2010. Under his affluent leadership, Tata International diversified to multiple segments like engineering, leather, and metal, creating a global presence. Noel has been the brain behind strengthening the company’s international footprint, especially in Africa and Southeast Asia.
In June 1999, he became the Managing Director of Trent, Tata Group’s retail arm, started by Noel’s mother, Simon Tata. Trent operates retail chains like Westside, Star Bazaar, and Zudio. Under his stewardship, Trent saw substantial growth, with its shares skyrocketing over 6000%. In 2014, he became the Chairman of Trent, with Westside and Zudio becoming major players in India’s fashion retail market.
Seeing his leadership qualities in 2003, Noel was appointed as the Director of Titan Industries and Voltas. In 2018, he was raised to the rank of Vice Chairman for Titan Industries, and in March 2022, he became the Vice Chairman of Tata Steel.
Noel Tata was embraced as one of the board members of the Sir Ratan Tata Trust in February 2019, and soon after the demise of his brother, on October 11th, 2024, he was appointed as the Chairman of the Tata Trust, which holds a stake of 66% in Tata Sons, the parent company.
In a historic move, Noel Tata joined the board of Tata Sons on November 4, 2024, as a nominee of Tata Trusts, marking the first time since 2011 that a Tata family member serves on both boards. His appointment is in line with Tata Sons’ Articles of Association, allowing Tata Trusts to nominate one-third of the directors on the board.
Noel Tata with wife Aloo Mistry and Daughter Leah Mistry
Noel Tata is married to Aloo Mistry, the daughter of another prominent businessman in India, Pallonji Mistry. Pallonji Mistry has been associated with Tata Group since time immemorial and owns a substantial stake in Tata Sons as the single largest shareholder.
Noel and Aloo have three children, one son, Neville Tata, and two daughters, Leah Tata and Maya Tata. His family life is a reflection of his reserved personality; grounded, private, and away from the public eye. Balancing his professional responsibilities with his personal life, Noel has maintained a quiet yet resilient presence both in the business and family spheres.
Noel Tata – Journey So Far!
Despite speculations in the business world about him succeeding his half-brother, Ratan Tata, as the head of Tata Sons, his brother-in-law Cyrus Mistry was declared as the successor of Ratan Tata in 2011. However, Cyrus was removed from the Chairmanship of Tata Sons in October 2016, and the role went back to Ratan Tata until February 2017.
However, even through this family chaos, Noel remained unimpacted and continued to influence the group’s retail and international operations. His leadership extended further when he took on an influential role within Tata Trusts, which control the majority of shares in Tata Sons.
Noel Tata’s undeniable contributions have coagulated his status in the Tata Group, leaving a mark as a forward-thinker. His hard work as the leading light of Tata International and Trent has substantially contributed to Tata Group’s global expansion, showcasing his commitment towards the legacy and future of Tata Sons.
Despite his dominance across various Tata Group arms, he chose to uphold a quiet presence in the media compared to other Tata family members. Currently, Noel Tata remains a key figure in the operations and governance of the Tata Group, actively taking the Tata family’s legacy to global podia.
Noel’s connection to the Mistry family through his wife, Aloo Mistry, further solidifies his presence within the group, with his children also playing active roles within Tata Trusts. Over the years, Noel Tata has emerged as a key figure shaping the future of the Tata Group, especially following Ratan Tata’s exit from active leadership due to his grief.
Noel Tata may be understated in the media as compared to Ratan Tata, but his achievements have no denying when talking about making Tata Group’s retail and international businesses enduring success.
As the Chairman of Trent, Noel spearheaded the growth of the Westside retail chain, turning it into a profitable and leading retail brand in India and multiplying its shares to over 6000%. He also played a crucial role in expanding the Tata Group’s global footprint, especially through Tata International. Under his leadership as a Managing Director from 2010 to 2021, he raised revenues from $500 million to $3 billion.
To add to his list of achievements, he has held multiple leadership roles in Tata Group, including Vice Chairman of Titan Company and Tata Steel. Noel has now been appointed as the Chairman of Tata Trust to lead the company, after the late Ratan Tata, which oversees a 66% stake in Tata Sons. His current role in Tata Trust solidifies his position within the Tata Group, shutting the mouths of many who doubted his capabilities.
FAQs
Who is Noel Tata?
Noel Naval Tata is a businessman with roots in both India and Ireland. He holds important positions in several Tata companies. He is the newly appointed chairman of Tata Trusts, Trent, and Tata Investment Corporation. He is also the managing director of Tata International and the vice chairman of Titan Company and Tata Steel.
Who is the wife of Noel Tata?
Aloo Mistry, daughter of Pallonji Mistry is the wife of Noel Tata.
What is the net worth of Noel Tata?
The net worth of Noel Tata is $1.5 billion as of 2024.
E-two-wheeler retail sales reached their second-best monthly performance, only missing March’s 140,333 units, thanks to festive season demand and alluring OEM discounts. While Ola has recovered to levels above 41,000, TVS and Bajaj are still engaged in a fierce war.
This segment all set to reach a million sales for the first time in a calendar year in November, as the top six OEMs each surpass their CY2023 retails in the first 10 months of 2024.
What Spiked the Sales of EV 2Wheeler?
In spite of the reduced subsidy, the buyer-friendly festive season schemes, attractive deals offered by e-two-wheeler OEMs, and the availability of customised financing, retail sales were the second-highest in this calendar year to date, following the FAME II subsidy-ending month of March 2024 (140,333 units). The new PM E-Drive Scheme went into effect on October 1. The PM E-Drive Scheme aims to assist 24.79 lakh e-two-wheelers, 316,000 e-three-wheelers, and 14,028 electric buses with an expenditure of INR 10,900 crore over two years and subsidy/demand incentives of INR 3,679 crore. The PM E-Drive Scheme, which runs from October 1, 2024, to March 31, 2026, does not apply to passenger cars.
The largest volume driver of the Indian EV market is the electric two-wheeler market. According to the most recent data accessible on the Vahan websites of the Indian government, it made up 64% of India EV Inc.’s total volumes of 217,621 units in October.
Ola Electric Back in Form
Ola Electric will be relieved that it sold 41,605 units in October 2024, following two turbulent months of low sales of fewer than 28,000 units (August: 27,615 and September: 24,716), which caused the company’s market share to drop to less than 30%. This represents a 74% YoY gain and a 68% month-over-month increase. Additionally, the company has sold an additional 96,885 units through the end of October, surpassing its total CY2024 retail sales of 267,376 units.
Ola experienced a strong month-over-month growth from April through July until the steep decline in August and September. The company had started CY2024 with 32,424 units (up 77%) in January and reached a peak of 53,640 units (up 150%) in March. Numerous complaints from customers regarding poor service were blamed for Ola’s August and September sales drop. However, sales have increased in October after the recently listed business promised that it has satisfactorily resolved 99.1% of consumer concerns through its redressal procedure.
TVS Regaining its Spot by Taking Over Bajaj
In October, TVS Motor Co. reclaimed the second position on the e-two-wheeler podium after being hurt by Bajaj Auto’s September takeover. The iQube producer saw a robust 81% YoY rise with retail sales of 29,890 units (October 2023: 16,507 units), and last month’s market share was 21%. TVS’s market share for the first ten months of this year is 18.41%.
The effort paid off, as TVS Motor’s October retails are its greatest monthly numbers to date. Like Bajaj Auto, TVS Motor sent the most iQubes to its dealers in October, totalling 28,564 units.
These two legacy OEMs are still engaged in a fierce struggle; in CY2023, TVS sold 166,581 iQubes, which was 94,641 more than Bajaj Auto’s 71,940 Chetaks. In the current calendar year, such an enormous disparity has significantly decreased to 27,164 units.
Three battery options are available for the TVS iQube: 2.2 kWh, 3.4 kWh, and 5.1 kWh. The business reports that the market is responding favourably to the complete portfolio. With a 2.2kWh battery, the standard model can travel 75km in real life and takes two hours to fully charge using a 950W charger. At INR 94,999, this base version of iQube is now the most economical. This model comes with a 5-inch TFT display, turn-by-turn navigation, and theft and tow alarms, along with the 3.4 kWh iQube.
Cred, a fintech unicorn that formerly focused on lending and payments, has now expanded into the distribution of insurance goods, starting with auto insurance.
According to Akshay Aedula, head of product and growth at Cred, the company is using its vehicle management platform, Cred Garage, to market insurance products to its users. Depending on the users’ credit scores, Cred offers extra discounts to make the product more appealing.
What is Garage?
Cred customers can monitor their car expenses, outstanding traffic “challans,” and the dates of their insurance and pollution renewals on the Garage portal. In the event of a roadside breakdown, they can also receive assistance. Cred hopes to make money from the programme by collecting commissions from insurance companies, even though car management is free.
There are almost 7 million registered cars on the platform, and there are 4.4 million users—some of whom have more than one car registered in their name. Last September, the platform was launched. Approximately 11 million of Cred’s 13 million monthly users engage in active transactions.
According to Aedulia, Cred’s fundamental belief is to reward good conduct, which is why it has collaborated with three insurance providers to develop an insurance product that gives clients with high credit ratings extra savings on their premiums.
Working With Three Insurance Companies
To provide these products to its clients, the company, which holds a corporate agency licence from the Insurance Regulatory and Development Authority (IRDAI), has collaborated with Zurich Kotak General Insurance, Go Digit General Insurance, and ICICI Lombard. A corporate agency is an insurance distributor that has the capacity to collaborate with nine insurance companies. An entity will require the insurance broking licence in order to engage with more.
According to Aedulia, Cred is expanding this cooperation and is collaborating with a few additional insurance providers. As of right now, the IRDAI has approved the company’s product. Cred’s entry into the insurance market rounds out its range of financial services operations, which began with credit card bill payment and progressed to wealth management, credit, and the Unified Payments Interface (UPI). According to a recent statement from the corporation, payments, credit, and insurance account for 90% of its total revenue.
In addition to having an internal, non-banking finance company called Newtap Finance, Cred has a significant distribution role in personal financing. In February 2024, Cred bought Kuvera for its money management service. Through Garage, Cred has now established its own insurance distribution company.
In FY24, the company reported total sales of INR 2,473 crore, a 66% increase over FY15. With its employee stock ownership plans included, its net loss came to INR 1,644 crore, a 22% increase from the previous year. According to Tracxn data, the firm has raised $866 million and was last valued at approximately $6.2 billion in 2022.
Rishabh Rathi
