In the ever-evolving landscape of entrepreneurship, one event stands tall as a beacon of light and opportunity for promising startups. The Grand Pitch, proudly recognized as SIBM Pune’s very own Shark Tank, is set to return for its highly anticipated Third Season. This flagship event, meticulously organized by the Innovation Council,the entrepreneurship cell of SIBM Pune, has rapidly become a benchmark in the startup ecosystem, offering a platform where innovation meets investment, and vision transforms into reality.
The Grand Pitch was born out of a vision to bridge the gap between ground-breaking startups and the resources needed to bring them to life. Since its inception, it has stood as a reflection of the power of innovation and the spirit of entrepreneurship. The event’s structure provides a unique blend of high-stakes pitching, expert mentorship, and the potential for life-changing investments.
The trajectory of The Grand Pitch has been nothing short of phenomenal! From its impressive debut in 2022 to the record-breaking second season, the event has consistently raised the bar for promising startups.
The previous season was a reflection to the event’s growing impact, with startup founders achieving incredible milestones and attracting investments ranging from ₹30 lakhs to ₹3 crores, culminating in a staggering total of ₹5.7 crores. With the third season right around the corner, The Grand Pitch is set to surpass all past milestones.In a noteworthy advancement that highlights the event’s success and the organizers’ dedication to fostering innovation, the investment pool has been increased from ₹50 Crores to an impressive ₹75 Crores. This monumental leap provides participating startups with even greater opportunities to secure the funding necessary to elevate their businesses.
This year, the event would be graced by a diverse panel of investors, showcasing a range of investment expertise and industry knowledge. Each of them brings unique insights and experience, making this event a prime opportunity for impactful investments and potential partnerships. Joining the event are Mr. Akash Mishra, Co-founder of Venture Vista; Mr. Anand Kataria, Private investor, AHICO; Mr. Chandrashekar Kupperi, Founder of ANOVA and General Partner at Peaceful Progress Fund; Mr. Devang Raja, Founder of Venture Wolf; Mr. Gaurav Verma, Venture investor, Stealth mode; Mr. Namay Kedia, Founder of Ballers and Indian Angel Investors Drinks; Mr. Nitesh Aggarwal, Chief Investment Officer at a leading Single Family Office; Mr. Rohan Bajaj, Senior SDET Manager at Jupiter, and Mr. Sayan Ghosh, Co-Founder of Stealth. This powerhouse lineup promises to create incredible opportunities and conversations for entrepreneurs and investors alike.
Their diverse backgrounds in venture capital, fintech, consumer brands, and technology will facilitate vital funding and support for our participants, making this season an extraordinary opportunity for innovation and groundbreaking solutions.
With over 25,000+ Unstop impressions and 150 registrations, this years’ participants range from early to growth stages, hailing from major cities including Ahmedabad, Bengaluru, Delhi, Mumbai, and Pune. Startups from prestigious institutes like SIT, SIBM Bengaluru, Delhi University, and VIT, as well as former Shark Tank India participants, representing sectors such as Agritech, Drone Manufacturing, Health Tech, and Fintech, will be on their path to growth during this spectacular event.
As we countdown to the launch of Season 3, the excitement is palpable. The stage is set, the investors are ready, and the opportunities are boundless. Are you ready to immerse yourself in the innovation and creativity that will shape the future of entrepreneurship?
The Grand Pitch is more than just a platform for pitches; it’s a celebration of entrepreneurship and a showcase of the future. Let us embrace the spirit of innovation and collaboration as we embark on this exciting journey. The future of entrepreneurship is bright, and it starts here at The Grand Pitch!
The Ministry of Heavy Industries (MHI) has been approached by Hero Electric to resolve ongoing disputes and release pending electric vehicle (EV) subsidies, according to officials who briefed the media.
The manufacturer of electric motorcycles has committed to paying fines for any infractions or noncompliance. Hero Electric has contacted the Central Government in an attempt to get their outstanding problems resolved. “We are reviewing their request,” a high-ranking government representative stated.
MHI’s Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) programme benefitted Hero Electric, under the leadership of Naveen Munjal. Subsequently, an investigation revealed that the company and five other entities had violated mandatory localisation standards, leading to a government crackdown.
What Exactly the Conflict is?
The Ministry of Heavy Industries received complaints in 2022 from original equipment manufacturers (OEMs) registered under the scheme, alleging that Hero Electric, Okinawa, and Benling India were selling electric vehicles in violation of local sourcing regulations and were involved in rampant vehicle part imports. These complaints concerned the OEMs’ disregard for the FAME-II guidelines.
After the ministry looked into 13 businesses, it was discovered that six of them—Hero Electric, Okinawa Autotech, Benling India Energy and Technology, AMO Mobility, Greaves Electric Mobility, and Revolt Motors—had violated the Faster Adoption of Manufacturing of Electric Vehicles (FAME-II) standards.
Among these businesses, AMO Mobility, Greaves Electric Mobility, and Revolt Motors obtained a clean sheet from the government after returning the subsidies plus interest amount in a matter of months. Nevertheless, Hero Electric, Okinawa Autotech, and Benling India were removed from the FAME-II programme as a result of their failure to refund the incentives.
The authorities declared in an official statement that Benling India, Okinawa Autotech, and Hero Electric had been deregistered. The next step is to be barred from all Ministry initiatives; this has already been applied to Benling India and Hero Electric. Since Okinawa was in court at the time, they were not barred.
Claims made by Centre and Hero Electric
Subsequently, the government requested that these EV manufacturers return the subsidies, arguing that they had been improperly used. Hero Electric refuted the charges of the government, while three companies returned the money. It also filed a lawsuit and demanded the release of INR 556 crore in unpaid subsidies for completed transactions.
On the other hand, the Centre claimed that Hero Electric had violated FAME II standards and attempted to recoup INR 133 crore along with penal interest. Hero has since sent the Centre a new message in an attempt to resolve the conflict.
The government representative stated that Hero has put out six proposals to resolve the conflict: a fine, a modification of the subsidy amounts, mediation, car and plant retesting, and third-party reinvetigation. According to the official, it also expressed its openness to ‘any alternative corrective measure as may be offered by the ministry’.
In order to assist with its intended $250 million (INR 2,000 crore) initial public offering by the second quarter of next year, the new-age jeweller startup BlueStone has reportedly recruited Axis Capital, IIFL Securities, and Kotak Mahindra Capital Co., according to a media source.
The company plans to submit its papers later this year, according to a media report, and the IPO is expected to be between $200 and $250 million in size, with a valuation of $1 to 1.5 billion. If all goes according to plan, the IPO will probably be the first by a new age jewellery company.
Pre-IPO Funding of BlueStone
A media site reported that BlueStone closed an INR 900 crore pre-IPO investment round in August, more than doubling its worth to $970 million. One of the early investors, Kalaari Capital, sold a portion of its stock in the round, which consisted of a combination of primary and secondary transactions. In February, BlueStone intended to go public with an IPO for INR 2,000 crore.
Competing with Melorra, Giva, and CaratLane, it is operated under the parent company’s name, BlueStone Jewellery and Lifestyle Pvt Ltd. The last year has seen a surge in investment activity in India’s new-age jewellery market. While Giva concluded a INR 255 crore fundraising round earlier this week, Melorra got a bid to be acquired by Kolkata-based jeweller Senco Gold Ltd., which went public last year. In February, Titan acquired the remaining shares of CaratLane, converting it into a fully owned subsidiary.
Growing voluntary incomes and a growth in the number of young middle-class people are driving investor interest in this industry. In contrast to traditional enterprises like Malabar Gold & Diamonds and Kalyan Jewellers, who still control a large portion of the wedding jewellery market, this has helped new-age businesses.
Expansion Curve of BlueStone
BlueStone was founded in 2011 by Gaurav Singh Kushwaha, Sudeep Nagar, and Ganesh Krishnan. The company sells jewellery, including nose pins, bangles, bracelets, rings, earrings, chains, and pendants. Prior to opening shopfronts in 2018, the business exclusively operated online. It already operates more than 200 stores around India, and as more people use hybrid payment options, the number will rise. The company has been able to tighten cost management by localising design, manufacturing, and production.
From INR 787.8 crore in FY23 to INR 1,303.4 crore in FY24, BlueStone’s revenue increased by 65%. Its INR142.2 crore loss narrowed by nearly 15%. The largest institutional investor in the Bangalore-based startup is Accel; other backers include Prosus, Iron Pillar, Peak XV Partners, and Steadview Capital. In June, Motilal Oswal produced a report estimating the value of India’s retail jewellery market for FY24 at approximately $80 billion. Regional and pan-Indian businesses made up organised retail, which accounted for roughly 36-38% of the industry.
Have you ever felt overwhelmed by the sheer volume of information at your fingertips when diving into research? We’ve all been there. It’s like trying to find a needle in a haystack, except the haystack is the size of the internet. But what if you had a magic wand that could sift through all that data, pulling out exactly what you need? Well, that’s where AI tools for research come into play.
In 2024, these clever assistants are changing the game for researchers, making fact-checking a breeze and turning complex data into eye-catching visualisations. From Semantic Scholar’s smart search abilities to Tableau’s knack for bringing numbers to life, we’re seeing a revolution in how we tackle research. These tools, besides making our lives easier – are also opening doors to insights we might have missed before. So, let’s take a closer look at some of the best AI tools that are shaking up the research world this year.
Semantic Scholar is a game-changer in the world of AI tools for research. This free, AI-powered search engine, developed by the Allen Institute for AI, is designed to make your research journey smoother and more efficient. It’s like having a clever research assistant at your fingertips, helping you sift through over 200 million scientific papers across all fields.
What sets Semantic Scholar apart is its ability to understand the essence of research papers. It uses smart natural language processing to generate one-sentence summaries, making it easier for you to grasp key points quickly. The tool also identifies influential citations, helping you focus on the most impactful research. With features like customisable libraries and AI-powered research feeds, Semantic Scholar keeps you up-to-date with the latest findings in your field, revolutionising how you approach scientific literature.
Plan
Pricing
Free
$0/Month
ZAIA AI Assistant
Website
www.zendy.io
Standout Feature
Conversational Interaction
Free Trial
Yes
Platforms Supported
Web, IOS/Android
ZAIA – Best AI Tools for Research
ZAIA, short for Zendy AI Assistant, is revamping the research process. This clever tool, developed by Zendy’s data science team, is a domain-specific Large Language Model designed to make your research journey smoother.
Unlike general AI tools, ZAIA is trained on Zendy’s own data, giving you access to millions of academic papers. You can ask it any research-related question, and it’ll provide credible answers backed by references. It excels at helping you grasp key research concepts and find relevant papers, making literature reviews a breeze. It’s like having a super-smart research buddy at your fingertips, ready to dive into the depths of academic knowledge with you.\
Tableau with Einstein AI – Best AI Tools for Research
Tableau with Einstein AI is changing how researchers handle data. This powerful tool brings AI-driven insights directly into your workflow, making complex data analysis a breeze. With Einstein Discovery, you can create predictive models without writing a single line of code. It’s like having a data scientist at your side, helping you spot trends and make smarter decisions faster.
What’s great about Tableau with Einstein AI is how it democratises data science. It’s not just for the tech-savvy; anyone can use it to uncover valuable insights. You can ask questions in plain English and get visualisations that make sense of your data. It’s changing the game for researchers, making it easier than ever to turn raw numbers into actionable insights.
Plan
Pricing
Free
$0/Month
Scite.ai
Website
www.scite.ai
Standout Feature
Citation Contextualization
Free Trial
Yes
Platforms Supported
Web
Scite.ai – Best AI Tools for Research
Scite.ai is upscaling how researchers engage with scientific literature. This Brooklyn-based tool uses Smart Citations to help you better understand research articles. It’s like having a research assistant who not only finds citations but also tells you whether they support or challenge the paper you’re reading.
Scite.ai analyses over 1.2 billion citations from 200 million scholarly sources, giving you a comprehensive view of how research is being used and interpreted. With custom research dashboards, you can keep track of emerging citations in your field, making it easier to stay on top of trending topics. It’s an indispensable tool for writing papers and finding related work, saving you time and enhancing the quality of your research.
Plan
Pricing
Personal
₹412.23/Month
Enterprise
Custom
Consensus AI
Website
www.consensus.app
Standout Feature
Research Synthesis
Free Trial
Yes
Platforms Supported
Web
Consensus AI – Best AI Tools for Research
This crazy tool uses AI to sift through mountains of academic papers, giving you instant insights backed by real science. Consensus is like having a team of experts helping you find the most relevant and trustworthy research in no time.
What’s great about Consensus is how it breaks down complex studies into bite-sized summaries, making it easier for you to grasp key findings quickly. Whether you’re fact-checking or diving deep into a literature review, this AI tool for research is designed to streamline your work and boost your confidence in the results.
Plan
Pricing
Free
$0/Month
Premium
$8.99/Month
Teams
$9.99/Month
Enterprise
Custom
Dimensions
Website
www.dimensions.ai
Standout Feature
Extensive Research Database
Free Trial
Yes
Platforms Supported
Web
Dimensions – Best AI Tools for Research
Dimensions is changing the game with the world’s largest linked research information dataset. It’s like having a massive digital library at your disposal, covering everything from publications to patents and policy documents.
What sets Dimensions apart is its ability to connect the dots across the research ecosystem. You can easily trace the journey of an idea from grant funding to published paper, and even see its impact on policy. With powerful search tools and visual analytics, Dimensions helps you uncover insights faster than ever. Whether you’re benchmarking your organisation or identifying emerging trends, this AI tool for research makes complex data analysis a breeze.
Scispace excels at research writing and understanding. This AI-powered platform helps you decode complex papers effortlessly, making it a game-changer for researchers. With SciSpace, you can access over 270 million articles from 49,000+ journals, making it a treasure trove of scientific knowledge. The tool offers simple explanations and instant answers, helping you grasp key concepts quickly.
What’s more, SciSpace provides a collaborative workspace where you can draft, format, and submit your manuscripts. With features like one-click formatting and access to 100,000+ verified journal templates, it’s streamlining the often laborious process of research writing. Whether you’re a LaTeX pro or new to academic writing, SciSpace is designed to make your research journey smoother and more efficient.
Plan
Pricing
Free
$0/Month
Premium
₹700/Month
Labs and Universities
₹600/Month per user
Conclusion
The future of research is looking brighter than ever, with AI as our trusty sidekick. These tools are helping us sift through mountains of data, spot trends, and make connexions we might have overlooked. They’re giving us more time to think deeply and creatively about our work. And hey, if you’re hungry for more research-based insights, why not join the club? Subscribe to StartupTalky’s newsletter, ‘Smell The Coffee’, to stay in the loop with the latest news, case studies, and more. Here’s to smarter, faster, and more exciting research adventures ahead!
FAQ
How can AI be used as a research tool?
AI can aid research by automating data analysis, conducting literature reviews, and identifying relevant studies efficiently. It enhances productivity by quickly extracting insights from large datasets.
Can I use AI to write my research paper?
Yes, AI can help you write your research paper by generating content and organizing ideas. However, you should ensure originality and proper citations in your final work.
Have you ever found yourself staring at a blank screen, struggling to craft the perfect newsletter? We’ve all been there. It feels like trying to paint a masterpiece with a broken brush. But what if we told you there’s a way to turn that frustrating experience into a breeze? AI newsletters are here to ease things up. In 2024, these smart tools are not being called a luxury – rather, they’re becoming a necessity for businesses of all sizes. Right from crafting catchy subject lines to generating engaging content, AI email writers are taking the heavy lifting out of newsletter creation. They’re like having a team of expert copywriters at your fingertips, ready to help you connect with your readers in ways you never thought possible.
GrowthBar is a powerful ai newsletter generator that combines SEO tools with AI writing capabilities. It’s designed to help you create content that ranks well in Google searches, making it one of the best ai tools for email writing available in 2024.
Competitor analysis features
You can use GrowthBar to spy on your competitors’ keywords, backlinks, and Google Ads. This feature allows you to uncover valuable insights about their strategies, helping you to refine your own approach. With access to thousands of results for organic traffic, Google Ads, and backlinks, you can make smarter decisions about your content strategy.
Backlink tracking
GrowthBar’s backlink tracking feature is a game-changer for improving your site’s domain authority. By analysing your competitors’ backlinks, you can identify high-authority sites to target for your own link-building efforts. This can lead to a significant boost in organic traffic over time.
AI writing capabilities
As an ai email writer, GrowthBar offers a range of tools to streamline your content creation process. From generating blog post ideas to crafting meta descriptions and email newsletters, GrowthBar’s AI can help you write 10 times faster. It even includes a handy paragraph rewriter tool to help you refine your content.
Plan
Pricing
Standard
$36/Month
Pro
$74.25/Month
Agency
$149.25/Month
Taskade
Website
www.taskade.com
Rating
4.6
Free Trial
Yes
Platforms Supported
Web, IOS/Android
Taskade – Best AI Newsletter Generators
Taskade is more than just an ai newsletter generator; it’s a versatile all-in-one workspace that combines notes, task lists, and mind maps with AI-powered features. Think of it as your supercharged digital assistant for creating newsletters and managing team projects.
Mind mapping tools
Taskade’s mind mapping feature is a game-changer for brainstorming and organising ideas. You can easily create AI-powered mind maps to visualise your thoughts and tasks. With the ability to switch between multiple project views, you can list your ideas in a traditional format and then toggle to the mind map view to see them in a more visual layout.
Real-time collaboration
One of Taskade’s prominent features is its real-time collaboration capabilities. You can work on projects with your team or clients simultaneously, editing tasks and documents on any device. The platform also offers free and unlimited chat and video conferencing within each project, ensuring seamless communication.
AI-powered task lists
Taskade’s AI takes task management to the next level. You can instantly generate task lists, meeting agendas, and custom workflows tailored to your team’s needs. The AI assistant can help you brainstorm, outline, and map out anything for your tasks and notes, making it one of the best ai tools for email writing and project management.
Hoppy Copy brings a fresh, playful approach to ai newsletter generation. It’s like having a witty copywriter at your fingertips, ready to craft engaging emails that resonate with your audience. The platform’s AI understands the importance of tone, allowing you to experiment with both formality and playfulness to find what clicks with your readers. It’s not just about churning out content; it’s about creating emails that feel personal and custom-made.
CTA generation
When it comes to calls-to-action, Hoppy Copy doesn’t mess about. Its CTA generator is designed to craft persuasive, clickable buttons that drive engagement. Whether you’re aiming to boost sales, encourage sign-ups, or increase shares, this tool tailors CTAs to your specific goals. Remember, personalised CTAs perform 202% better than basic ones, making this feature a game-changer for your email campaigns.
Advice section
Hoppy Copy goes beyond just generating content; it’s like having a marketing mentor in your pocket. The platform offers valuable tips and tricks to elevate your email marketing game. From crafting compelling subject lines to understanding your audience, Hoppy Copy’s advice section is a treasure trove of insights. It encourages you to test different approaches, reminding you that the key to success is continuous experimentation and learning from your results.
Plan
Pricing
Starter
$23/Month
Pro
$39/Month
Pro +
$79/Month
ClickUp
Website
www.clickup.com
Rating
4.7
Free Trial
Yes
Platforms Supported
Web, IOS/Android
ClickUp – Best AI Newsletter Generators
ClickUp is more than just an ai newsletter generator; it’s a versatile project management platform that can revolutionise your workflow. With its AI-powered features, ClickUp offers a comprehensive solution for teams looking to streamline their processes and boost productivity.
Workflow management
ClickUp’s workflow management tools help you organise complex projects with ease. You can break down tasks into subtasks, create checklists, and use custom statuses to track progress. The platform’s hierarchy allows you to scale from small teams to enterprise-level operations, ensuring clear visibility across all levels of your organisation.
AI-assisted content creation
ClickUp Brain, the platform’s AI assistant, takes content creation to new heights. It helps you brainstorm ideas, generate newsletters, and even proofread your work. With over 100 pre-built automations, you can save time on repetitive tasks and focus on crafting engaging content that resonates with your audience.
Progress tracking
To keep your projects on track, ClickUp offers robust progress tracking features. You can use Dashboards to visualise key performance indicators, set goals, and monitor team workload. The Workload view helps you allocate resources effectively, ensuring no team member is overwhelmed or underutilised.
Copylime is a versatile ai newsletter generator that specialises in short-form, ad-focused copy. It’s like having a persuasive sales assistant at your fingertips, perfect for promotional newsletters and product updates. With its user-friendly interface and specific templates for newsletter elements, Copylime makes crafting engaging emails a breeze.
Product description generation
Copylime excels at creating punchy product descriptions that sell. Its AI-powered tool helps you highlight key features and benefits, making it an invaluable asset for e-commerce stores looking to boost sales. By inputting basic details about your product, you can generate compelling descriptions that capture interest and drive conversions.
Subject line creation
When it comes to email marketing, subject lines are the backbone of success. Copylime’s subject line generator helps you craft attention-grabbing headlines that increase open rates. It’s designed to create curiosity and urgency, ensuring your emails stand out in crowded inboxes.
AI image generation
To complement your written content, Copylime offers AI image generation tools. These are excellent for creating visual newsletters that catch the eye and enhance engagement. By combining persuasive copy with striking visuals, you can create newsletters that truly resonate with your audience.
Plan
Pricing
Free
$0/Month
Unlimited
$29/Month per user
Pay-as-you-go
$10 for 10,000 words
Our Thoughts
The future of email marketing is bright, and these tools are leading the charge. They’re helping businesses of all sizes to craft messages that resonate, engage, and convert. As we celebrate these innovations, let’s remember that the heart of great communication still lies in understanding our readers and delivering value. And, that’s exactly what we intend to do.
FAQ
Can AI generate a newsletter?
Yes, AI can generate newsletters by creating engaging content, personalizing messages, and optimizing layouts for specific audiences, making the process faster and more efficient
What is the best AI tool to create newsletters?
GrowthBar is considered as one of the best AI tools for creating newsletters, offering easy-to-use content generation, optimization, and SEO features tailored for marketers.
Is it illegal to sell AI-generated writing?
It is generally legal to sell AI-generated writing as long as it doesn’t violate intellectual property rights, copyright laws, or terms of service of the platforms used. However, legal concerns may vary depending on jurisdiction and the specific content being sold.
A gift is something that always makes one happy, regardless of the value. And when it comes to something that you personally like, no less than bliss. So imagine being able to produce personalized gift items that are close to someone’s heart for any reason.
Making someone happy with the exact things they prefer is probably one of the best feelings on earth. So, we came up with one of the most unique topics: starting your customized gift store that might give your startup idea a new dimension.
Gift corners by the end of a street are a very common and traditional idea. Indeed, that gives you a wide angle of things that you should be keeping. But have you ever thought about opening a personalized gift store? It is a very uncommon proposition that you might have given a thought to. Many people prefer to customize gifts for special occasions to make them more personal and meaningful.
Regardless of whether it’s for weddings or birthday events, housewarming or anniversary parties, we Indians will undoubtedly convey presents with us. It has become such a standard thing in India to bless individuals with gifts, which in turn has become a narrow scope of business to earn money. However, on a global level, the customized gift business has seen a striking development in the previous decade in light of the expansion in the client base and an expansion in the application for personalized gift items.
So, let’s get started with the steps on how to start a customized gift business store.
1. Pick A Niche for Your Customized Gift Shop Business
Generally, gift stores sell a wide range of gifts, novelty merchandise, and customized souvenir items. The customized gifts business is growing because more individuals are deciding to search for presents that are exceptional or exclusive. Customized gift storesstock a variety of things. There are a few specialty thoughts accessible for this industry for people hoping to stick out.
You can get a store selling all the possible types of gifts available. You can follow a specific niche, such as ethnic gift stores, card and gift stores, artisan gift stores, Indian souvenir gifts shops, arts and crafts, showpieces, and the list goes on. The personalized gift business opportunity allows entrepreneurs to enter into a growing market where customers want unique and meaningful items for their special occasions.
2. Select a Good Location
To make a gift shop business plan successful, the location of the customized gifts store plays a very important role. Gift shops situated in traveler locales of a town or city will be flourishing in general. Search for a location on a very populated side of the street with a lot of pedestrian activities. Customized gift stores pull in a lot of stroll-in customers. You would then be able to tailor your stock and retail cost to the area or town you’re set up in.
Customized Gift Shop Business – Decide Your Budget
A gift shop investment typically requires an investment that can vary based on several factors, including location, size, and inventory.It’s important to create a detailed business plan to understand the costs better to ensure a successful start for the gift shop. A gift shop business profit margin should be between 5% and 7.5%. Nonetheless, a profit margin of 20–30% is typically the goal of prosperous gift stores. If you want to sell personalized gift items, there’s a minimum investment that you will need to give your business a start. To make your gift store exceptional and theme-based, you will need to go up some extra investment, and that, of course, will fetch you more financial spending. The gift shop investment is typically between low to medium.
Things might get a bit more or less than what you have planned, but start with a pen, a notepad, and a calculator, and start scribbling down things you might need. Starting from rent to electricity bills to racks, furniture, technological equipment, and other small things you feel like adding.
Invest some quality time in understanding all the legal documents you will need to produce and keep handy in order to stay away from any further mess. Read the terms and conditions and make sure you don’t miss any do’s and don’t. Do’s, if there is any, complete it before walking up to the authority to get permission to start. You must need the following things:
Financing is another fundamental activity when beginning a business. Sourcing for the fund to begin a customized gift store business can be a tricky task. This is why it is prescribed to have a thorough business strategy since this is the best methodology through which you can persuade your focused investors about how genuine and committed you are to your business. You should also brainstorm various personalized gifts business ideas to finance your operations and ensure minimal wastage of funds.
Customized Gift Shop Business – Get an Insurance for your Business
Insurance is one of the most crucial things you might need before you start your business. Be it physical or digital, protection from any harm is always a mandatory thing you need to think about. Never hesitate to put an extra sum of money into putting on your insurance coverage.
Generally, these are the few insurance policies that you can buy when looking to initiate your customized gift store:
Insurance for General Liability
Insurance for Commercial Property
Insurance for Workers’ Compensation
Insurance for Product Liability
7. Market Your Personalized Gift Business
Customized Gift Shop Business – Market Your Business
The market size of customized gifts business in India valued at USD 28.4 billion in 2022, is expected to reach USD 42.003 billion by 2030. Marketing is the pivotal part of spreading and growing your customized gift store. In this way, you will get to make the most of the money. Make a buzz around your business. Market your business to nearby experts who may require your services. Consider wedding organizers, event organizers, and special sale organizations. Make a handout or list exhibiting the helpfulness of customized presents for worker acknowledgment anniversary and convey them to nearby organizations.
So, now you know what are the requirements you will need for starting your customized gift store.
Since these are gifts, customers might have a specific budget in mind. It’s a good idea to offer different price ranges to suit their needs. Provide pricing options: one for low-budget customers, one for mid-range, and one for higher-paying customers.
Impressive Packaging
Packaging can make or break a gift bundle. Choose materials that look premium but are also strong to keep the gift looking great.
Promote Seasonal Gifts
Mark your calendars and focus on promoting gifts that match the season — like Diwali, Christmas, Valentine’s Day, or Mother’s Day. It’s important to offer appealing products and prices to attract customers. Fun promotions and interactive activities can also boost your sales.
Manage Inventory
Plan carefully and avoid overstocking trendy items that may quickly go out of style. Instead, focus on keeping a high inventory of popular products and those you know will sell well during special occasions.
Conclusion
I hope this information is valid enough for you to initiate your business without any hesitation, be it a gift shop business plan in India or abroad. Even if you are looking for an online customized gift store business plan, this will come in handy. Good luck with your venture, and hope it takes off soon!
FAQs
Is a gifting business profitable?
A Gift Store business is truly a profitable business plan to venture into if you’re looking for some new gift business ideas, provided that proper planning and research are done beforehand.
How can I start a customized gift business in India?
Decide on your niche, Choose between dropshipping or holding your own products, Brainstorm a business name and register your domain name, Choose products to sell, Create your website, Set up a company, and get a sales tax ID.
What is the gift shop profit margin in India?
Typically, a good profit margin for a gift shop ranges from 5% to 7.5%.
Is it possible to buy customized gifts online in India?
Yes, it is possible to buy customized gifts online in India. There are a number of websites where you can buy customized gifts.
What are the most profitable items to sell online?
Some of the best products to sell online to make money in 2024 are Jewellery, Products, DVDs, Kids’ Toys, and Video Games.
What is the market size of customized gifts business in India?
The market size of customized gifts business in India valued at USD 28.4 billion in 2022, is expected to reach USD 42.003 billion by 2030.
What are customized gifts business ideas?
Here are some personalized gifts shop business ideas: personalized mugs with names, custom T-shirts with unique designs, photo books for memories, personalized phone cases, custom wall art, customized souvenir items, personalized calendars with custom photos, and customized tote bags. These custom personalized gifts can cater to various occasions like birthdays, weddings, and holidays! You can buy personalized gifts online through various websites.
What is gift shop business plan?
A gift shop business plan should include the shop’s goals and the types of gifts you will sell. It should have information about your target customers and competition. You’ll need a marketing plan for promotions and details about where the shop will be and how you will manage inventory. Also, include a list of roles for the team and your financial plans.
An officeis a workplace where you perform your job and duly fulfil your corporate responsibilities, but being informal is just as necessary. It helps to maintain the employees’ morale and gives them a feeling of happiness and belongingness when a casual and relaxed environment is constructed for them. An office celebration is a great way to bring employees together, boost morale, and celebrate achievements or special occasions with fun activities, food, and team bonding. And what better way to give them this atmosphere than planning a fun work party.
In this article, we will discuss some of the best office party ideas you can take for the planning of your next office party.
Some fun and exciting office party themes are a Tropical party with bright decorations, a Casino Night with card games, and a Masquerade Ball with masks. You can also have a Retro theme, a Bollywood Glam theme with a red carpet, or a Fiesta. A Winter Wonderland features snowy decorations, and an Around the World theme celebrates different countries with food and activities. These themes for office party make office parties more exciting. These office theme party ideas would definitely bring fun and excitement among the employees. This is one of the most interesting and fun ideas for corporate party.
Office Brunch
An Office Brunch is one of the simplest yet most sociable ideas to have as a party. It is more personal, direct and interactive. People talk and get to know each other in a nice setting with amazing food. It can be a great party idea for rewarding the team’s hard work on a project or completion of a tedious task. You can get all the people together at their favourite place and give them space to enjoy and mingle with other co-workers. It relieves stress among peers, and they will go back to their desks with a bit more energy.
There are so many genres to explore here. Whether it is our 90s Bollywood where you could dress up like Shah Rukh from DDLJ with a mandolin or Madhuri Dixit from Hum Aapke Hain Kaun with a brinjal saree. People could take on their creative style and mix it with their favourite icon from that era. Or it could be the early 2000s when Govinda was ruling with his unique style or Akshay Kumar with his vibrant personality. Whatever era you choose, it is guaranteed that it will be super fun.
If not a Bollywood era, it could be your favourite TV series. Considering the popularity of “Friends” here, one can only imagine how many guys would dress up as Chandler. Big Bang Theory, Game of Thrones, Breaking Bad, How I met your mother and so many more are just a few examples of how extended this idea can be.
The theme can also be based on a decade of fashion, politicians, popular characters and personalities.
Sports Day
Office Party Ideas – Sports Day
The Management Team can go outside and plan for a Sports Day, with fun and relaxed games like cricket, volleyball, badminton, a unique type of racing (e.g. potato sack racing), or any such fun competition. To make it more exciting you can even have prizes like a lunch certificate or a day off for the winners. It is bound to get all staff to participate. It can be a fun activity for having an office party.
Office Movies
Office movies is one of the coolest work party ideas which involves the entertainment of the employees. This idea could work at any time of the week, your whole staff can decide together on a movie they all would like to watch. You can arrange a space where they can all gather comfortably to watch a movie with lots of tasty treats too. And if you have a big outdoor space you can easily set up an outdoor movie theatre. And don’t forget to get the popcorn!
Karaoke Night
Office Party Ideas – Karaoke Night
It isn’t necessary to be a great singer like Lata Ji or Adele, you can still bask in the spotlight with Karaoke as it is the ancient art of butchering popular music. Karaoke is a lot of fun and it brings cheers, laughs and good memories. You can book a local karaoke bar, and if it isn’t available in your area, you can set it up in a big room available in your office’s building. Set up lights, a disco ball, mics and speakers.
It is even more fun when you have props to add to the theme. Big goggles, crazy hats and colourful wigs will work wonders. This activity is one of the most fun activities for office party.
Fancy Dinner
A bit more extravagant than the brunch party, a Fancy Dinner is a lavish and elegant night arranged over a posh dinner in a fancy hotel or function room. It will allow your staff to wear their red carpet of a movie premiere look, in simple terms – best dressed, and will make them feel beautiful, and also happy to work for such a company. Wine, pretty dresses, nice cologne and expensive dishes – they will all make the event super classy. Having a fancy dinner is a must have ideas for office events.
Having a Pop Quiz can be a great way to mix people from different departments and to have a laugh trying to answer the questions as individuals and as a team. You can have prizes to keep the energy and fun level high. It is one of the most interesting ways to get to know your peers better and get along well. It is a light-hearted enjoyable game that is very entertaining and lively. It is one of the most interesting and fun activities for office party.
Board Games
Office Party Ideas – Board Games
Now it does not mean to initiate a chess game between two rival teams but is instead a take on the fun Board Games like Pictionary, Chess, Ludoor Hangman. There can be different challenges and different games and it can be played like a tournament. Again, you can make the prizes fun like a spa treatment, dinner for two, a go-karting experience or for the ladies – discount coupons. Playing board games are the best games ideas for office party which help to sit, relax and have fun at the same time.
Decoration Competition
We celebrate a lot of festivals here in India, so there is no lack of opportunities to hold a decoration competition. Diwali, Christmas, Dussehra, and many more such occasions. You can make your staff decorate their pods and judge them on the day of the festival. The winner will get a prize, which can be turned even more interesting by keeping it a surprise. You can have a office theme party based on the festivals and bring in more fun, excitement, and joy.
It will increase the enthusiasm level among the workforce and bring out their creative side.
It is inspired by the western culture of having a barbeque cookout, but it can be turned into the desi style by cooking some of our signature dishes. People of the staff can come along and separate the duties of who cooks, who arranges items and who does other work. It is a different kind of fun when the task of cooking food – which everyone loves – is shared among peers. This is a cool office part idea to have team bonding with tempting food.
People get closer, get to know each other better and have their talks around the place.
Amusement Park Tour
Usually, people doing 9 to 5 jobs have long forgotten their childhood days when going to an Amusement Park would be so exciting that you couldn’t even sleep the night before. There are a lot of things to enjoy at an amusement park, even as an adult. There are so many fun rides, places to have good food and conversation, swimming pools with rain dance and even a DJ setup for dancing. There are photo booths too for capturing great memories.
Minute to Win it
Everyone loves the excitement of “Minute to Win It” games. Now you can bring that fun to your office party! Plan a “Minute to Win It” theme and watch everyone have a great time. These games are easy office party games to set up and use simple household items. Just remember to have nice prizes ready—you don’t want people thinking you’re cheap, right?
Murder Mystery
The only thing more fun than food is a thrilling murder mystery! This event is full of surprises and will keep everyone excited. Create a storyline and give different roles to employees, including one person who will be the murderer.
The murderer will try to stay hidden until the end of the night. Scatter clues around the office to help everyone guess who the real murderer is. The more creative you are, the more involved everyone will be. This event is a great way to build teamwork and encourage communication among your employees. This game is one the most fun and entertaining office party idea.
Conclusion
So there you have it, a brief list of epic work party ideas to make it more fun, exciting and entertaining. A fun office party can help everyone feel happier and closer at work. Choosing creative office party themes like a Tropical party or Casino Night makes the party exciting. Adding games and tasty food will make it even better. The office parties activities are a plus. The important thing is to create a friendly atmosphere where everyone feels comfortable and happy to join in. This way, the team can become closer and more motivated. Work party ideas like team-building games, trivia nights, movie nights, and costume contests can make the event fun and help everyone connect and relax together. Hopefully, you arrange a big hit staff party next time and have a wonderful experience.
FAQs
What can be fun office party ideas?
A fun office party includes ideas like having a office brunch, playing with a theme, having a sports day, having karaoke night, hosting a fancy dinner, organizing games, and having BBQ cookout.
What can be exciting office party themes?
Here are some fun company party themes: a Tropical party with bright decorations, a Casino Night with card games, and a Masquerade Ball with masks. You can also have a Decades Party, a Bollywood Glam theme with a red carpet, or a Fiesta. A Winter Wonderland features snowy decorations, and an Around the World theme celebrates different countries with food and activities. These themes for office party will make office parties more exciting!
What happens in an Office Brunch?
An Office Brunch is one of the simplest yet most sociable ideas to have as a party. It is more personal, direct and interactive. People talk and get to know each other in a nice setting with amazing food.
What can be fun staff party ideas?
For a staff party, you can plan a potluck where everyone brings a dish, organize fun team games or a trivia quiz, or set up a photo booth with props. You can also host a costume contest or a karaoke night where everyone sings their favorite songs. These simple ideas can make the staff party fun and help everyone enjoy together.
The musical instrument industry in India is growing and is projected to reach $6.6 billion in revenue by 2024. In this industry, a name that stands out is GAPPU, a leading manufacturer based in Kolkata known for its high-quality percussion instruments, including Cajons, shakers, bongos, and more.
With a commitment to innovation and affordable prices, GAPPU is bridging the gap in the market by providing exceptional products that resonate with musicians of all levels.
In this article, explore more about GAPPU, its founders, funding, products, growth, and more.
GAPPU – Company Highlights
Company Name
GAPPU
Headquarters
Kolkata, West Bengal, India
Sector
Musical Instruments
Founder
Anirban Bhattacharya, Pallab Ghosh
Founded
2021
Website
gappupercussion.com
GAPPU – About
Founded in the heart of Kolkata in January 2018 and incorporated in March 2022, GAPPU is a leading musical instrument lifestyle brand dedicated to manufacturing high-quality Cajons and other percussion instruments. As one of the first companies in India to produce Cajons locally, GAPPU takes pride in its commitment to innovation, craftsmanship, and sustainability. The instruments are designed to meet the needs of musicians across genres, offering exceptional sound quality and durability.
At GAPPU, they are passionate about music and believe in its power to inspire and connect people. The company’s journey has been marked by remarkable growth, with a year-on-year increase of 100 to 150%. This year, the team at GAPPU is excited to be nearing the crore mark in revenue, a testament to their dedication and the support of their community.
GAPPU is a completely made-in-India company, driven by the vision to become India’s No. 1 musical instrument brand. Its products are loved by popular Indian artists and music enthusiasts alike, reflecting their commitment to excellence and innovation.
GAPPU – Industry
GAPPU belongs to the musical instrument industry. In India, the musical instruments market is projected to generate revenue of approximately $6.6 billion in 2024. This segment is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.44% from 2024 to 2028, indicating strong demand for musical instruments.
With ambitious plans for the future, GAPPU aims to achieve a market share of INR 100 crore within the next 5 years. To expand its reach, the company will venture into producing more percussion and string instruments, establish music schools, and open retail shops, further strengthening its presence in the industry.
GAPPU – Founders and Team
Anirban Bhattacharya and Pallab Ghosh – GAPPU Co-Founders
Anirban met Pallab in July 2020, during the peak of the COVID-19 pandemic, when Anirban was searching for a tech-savvy individual who could also handle digital marketing. At that time, Pallab was fulfilling those needs. After their initial meeting, Pallab convinced Anirban that they needed to create a new website. Over the next five to six months, they built a strong friendship, which ultimately led to their partnership in April 2021, when they established a new company and began working together.
Anirban Bhattacharya
Anirbanis a co-founder with a 12th-grade education and 6 years of experience in the musical instrument industry. He focuses on production, research and development, and sales.
Pallab Ghosh
Pallab is also a co-founder and has a similar educational background with a 12th-grade pass and 3 years of experience in website development, digital marketing, and the musical instrument sector. He handles marketing and investor relations.
As of 2024, the company has a total of 8 employees.
Advisors and Mentors
Arun Kumar Mukherjee
Ranodeep Saha
GAPPU – Startup Story
GAPPU was founded by Anirban Bhattacharya and his father, Dulal Bhattacharya, in January 2018. In 2020, after the onset of COVID-19, Pallab Ghosh joined the company as a cofounder. From 2021 onwards, Anirban Bhattacharya and Pallab Ghosh collaborated to develop GAPPU further.
They identified a big market gap in India, where they couldn’t find high-quality products at affordable prices. To address this need, Mr. Dulal Bhattacharya, with over 30 years of experience in the industry, played a very important role in helping them create a good product.
In 2016, while playing drums and tabla, Anirban came across a box-sized percussion instrument called a cajon. He really liked it, so he wanted to buy one, but he couldn’t get it because it was too expensive at that time. This inspired him to create his own Cajon with the help of his father. Thanks to Anirban’s father’s connections in Kolkata, he was able to sell his first Cajon pretty easily.
In the early days, many prominent artists in Kolkata supported GAPPU, helping it gain traction in the music community.
GAPPU’s long-term vision is to establish itself as India’s leading musical instrument brand, recognized globally for its innovative designs, exceptional quality, and dedication to sustainability. The brand aims to expand its product line to include a wide range of percussion and other musical instruments, catering to musicians of all levels and genres worldwide. The goal is to create a lasting impact on the music industry by continuously pushing the boundaries of craftsmanship and innovation.
Short-Term Vision:
In the short term, GAPPU aims to solidify its presence in the Indian market by increasing its reach and accessibility. This includes expanding the distribution network, enhancing the online presence, and forming partnerships with music schools, artists, and retailers. The company also plans to introduce new and improved versions of its existing products, incorporating feedback from our customers to ensure the highest level of satisfaction and performance.
Core Belief:
At GAPPU, they believe in the transformative power of music. The core belief is that music has the ability to inspire, connect, and heal people across cultures and generations. This belief drives the team to create instruments that not only produce beautiful sounds but also bring joy and comfort to the lives of their customers. GAPPU is committed to sustainability, ethical manufacturing practices, and supporting the local community, ensuring that the growth positively impacts society.
Motto:
Crafting the Sound of Excellence
GAPPU’s motto reflects the team’s dedication to quality, innovation, and the love of music that inspires everything they do. The brand strives to craft instruments that resonate with excellence, providing musicians with the tools they need to express their creativity and passion.
GAPPU – Name, Tagline, and Logo
GAPPU Logo and Tagline
The name of the company, GAPPU, is derived from the names of two of the biggest drummers in Kolkata, who are also excellent teachers to Anirban. One is named Gabu, and the other is Appu; together, their names form “GAPPU.”
Initially, the company’s logo was cajon-oriented because, at that time, their focus was only on selling cajons. However, as their vision expanded, both the logo and tagline evolved. The new logo is a reflection of premium quality.
The tagline is, “MUSIC BRINGS HAPPINESS,” reflecting their broader target audience covering all sectors of musicians.
GAPPU – Products
GAPPU is the most trusted percussion musical instrument company. It offers a wide range of products, including Cajons, shakers, foot tambourines, rain sticks, bongos, hot rods, and many other percussion instruments.
GAPPU plans to expand its product line by launching new items such as practice pads, strings, and picks, all designed for musicians. The company is dedicated to solving the problem of providing high-quality products at affordable prices.
GAPPU’s unique selling proposition (USP) lies in its exceptional sound quality and commitment to being Made in India. Currently, while the company does not offer any tech products, it has many ideas for developing tech-based instruments in the future.
GAPPU – Business Model
GAPPU operates on a distribution-led business model, generating a gross profit margin of 50-60%. This approach allows the company to reach a wider customer base while maintaining strong profitability. By focusing on distribution, GAPPU can ensure its products are easily accessible to musicians across various segments and markets.
GAPPU – Launching Company Strategies
When GAPPU launched in Kolkata, the company partnered with both Indian and international musicians. These collaborations helped spread awareness of the brand. GAPPU initially launched its product offline in Kolkata’s musical instrument market. After that, the company started working with distributors to reach more customers and further expand its market presence.
GAPPU – Funding
With the same commitment to excellence, GAPPU is excited to share its next big step by launching guitar strings! This new venture has been made possible by raising INR 50 lakhs in funding, with a valuation of INR 2 crores. The support came from Arun Kumar Mukherjee of Chaigram, the Bengal Entrepreneurs Ecosystem (BEE), and other dedicated investors who believe in the magic of a Made-in-India brand.
Date
Amount
Series
Investor
August’24
INR 50 lakhs
Seed
Angel Investors
GAPPU – Growth
GAPPU primarily operates in Northeast and South India but supplies its products all over India. Last year, the company achieved a revenue of INR 40 lakhs, with a gross merchandise value (GMV) of approximately INR 75 lakhs, reflecting steady growth in the business.
GAPPU – Key Tools and Software
GAPPU utilizes several essential tools to support its operations and growth, including:
GAPPU plans to expand into different sectors within the next 2-3 years, diversifying its offerings and reaching new markets to continue its growth and innovation.
FAQs
What is GAPPU?
GAPPU is a leading musical instrument lifestyle brand dedicated to manufacturing high-quality Cajons and other percussion instruments.
Who are the founders of GAPPU?
Anirban Bhattacharya and Pallab Ghosh are the co-founders of GAPPU.
What products does GAPPU offer?
GAPPU offers a wide range of products, including Cajons, shakers, foot tambourines, rain sticks, bongos, hot rods, and many other percussion instruments.
The Ministry of Skill Development & Entrepreneurship (MSDE) announced on 14 September that it has partnered with Meta to launch two significant projects: the creation of five Centres of Excellence (CoEs) in Virtual Reality (VR) and Mixed Reality (MR) at National Skill Training Institutes (NSTIs) in Hyderabad, Bengaluru, Jodhpur, Chennai, and Kanpur; and the AI Assistant for the Skill India Mission.
The aim of the Ministry is to equip India’s youth with the necessary skills to succeed in the current competitive landscape, according to Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development & Entrepreneurship, who commented on the cooperation. The Ministry is democratising access to cutting-edge technology and providing personalised learning pathways for the nation’s youth by incorporating artificial intelligence, virtual reality, and mixed reality into the Skill India ecosystem. Today’s collaboration with Meta is a big step in the right direction.
Sharing his views on this development, Davinder Bhasin, Founder, One Health Assist stated, “India is turning younger every day, and its youth are its greatest asset. The partnership between MSDE and Meta to introduce AI into the Skill India Mission is a visionary step that empowers young Indians to thrive in today’s tech-driven world. By equipping our youth with AI-enhanced learning tools, we are not only providing them with relevant, future-ready skills but also addressing the possible challenge of lower employment rates in the digital age.”
“This initiative will help bridge critical skill gaps and ensure that young professionals can seamlessly integrate into modern industries, from healthcare to technology. For India to remain competitive on the global stage, especially as AI becomes a cornerstone of innovation, initiatives like these by our Government are vital. At One Health Assist, we believe this collaboration is key to positioning India as a leader in the AI revolution across all industries and more so of health care, ecommerce, education, financial services, customer service, transportation etc. unlocking opportunities for our youth and fostering growth for the nation,” he opined further.
Expressing similar sentiments, Rashmi Kulkarni, Co- Founder & Director of IndoAI said, “The collaboration between MSDE and Meta is a significant step forward for the Skill India Mission. Meta’s AI capabilities will not only deliver AI-specific training but also enhance the effectiveness of existing courses under the Skill India initiative. For example, AI can be used to personalize learning in fields like welding or electronics, where virtual simulations can adapt to the learner’s pace, offering tailored feedback to improve skill mastery.”
How this Partnership will Shape Up the India’s AI ecosystem?
This collaboration will result in the development of a cutting-edge AI chatbot that will improve the learner experience on the Skill India Digital (SID) Portal and is powered by Meta’s open-source Llama model. The chatbot, which will be incorporated into the SID Portal, provides users with round-the-clock support, facilitating easy access to course information, interactive Q&A for course materials, lecture summaries, and pertinent videos for review. The chatbot will be available on WhatsApp and support voice commands in Hindi, English, and Hinglish, making it more user-friendly for a wider variety of Indian consumers. Users can also look up particular course subjects, locate skill development facilities, look through job postings according to geography and interest, and get personalised feedback for ongoing development. Additionally, the chatbot will give the MSDE insightful information that will help them better optimise the platform. The chatbot will be developed and implemented by Sarvam AI, the AI assistant project’s technical partner. It will undergo a six-month pilot programme.
It envisions a collaborative e-governance framework for adoption of impactful AI solutions with the potential to catalyse large-scale socio-economic transformation in line with India’s AI Mission by making Meta’s open-source AI models accessible to India’s AI ecosystem. Additionally, these five CoEs at NSTIs will provide educators and students with the newest VR technology so they may learn new skills and improve on ones they already know in a secure, captivating setting. Through an easy-to-use digital interface, the AI assistant partnership seeks to enhance learning outcomes, expedite information access, and offer students seamless support. The five CoEs will also boost accessibility to skill development training, enhance participation, and offer realistic simulations.
Appreciating this move, Ajay Rao, CEO & Founder, Emiza stated, “By integrating advanced technologies like artificial intelligence, virtual reality, and mixed reality, the Ministry is democratizing access to cutting-edge tools and creating personalized learning pathways for the workforce of tomorrow.”
“For industries like logistics, this collaboration couldn’t come at a better time. At Emiza, we already see the transformative impact AI can have enabling smarter route optimization, demand forecasting, real-time inventory management, and predictive analytics. These innovations drive operational efficiencies, enhance customer experiences, and significantly reduce costs. However, we believe it’s essential to foster a human-machine partnership where AI acts as an enabler, not a replacement. By blending AI’s capabilities with human expertise, businesses can unlock new levels of productivity and innovation,” he added further.
Skill India Digital Portal
Vice President and Head of Public Policy of Meta India, Shivnath Thukral, stated that Meta is dedicated to utilising cutting-edge technologies like AI, VR, and MR to make a significant contribution to India’s economic growth. The collaborations between Meta India and the Ministry of Skill Development & Entrepreneurship (MDSE) demonstrate the company’s dedication to closing the digital divide in education. By incorporating cutting-edge technologies like Open-Source Llama, the company hopes to empower educators and entrepreneurs in addition to students by giving them the resources they need to succeed in the modern, digitally native world.
With millions of students using the Skill India Digital Portal to obtain courses designed to increase their employability, the platform has emerged as a key component of the country’s skilling ecosystem. By introducing the AI chatbot, MSDE and Meta are making great progress towards transforming the way students engage with the material and get ready for the future. Furthermore, in order to provide students and teachers with the newest technology and enable immersive and interactive learning experiences, Skillveri, the technical partner for setting up the CoEs, will supply state-of-the-art VR and MR materials, curriculum, and qualified personnel.
On October 13, 2024, the Central Consumer Protection Authority (CCPA) announced that Ola, a ride-hailing company, has been ordered to make improvements that will benefit customers. These modifications include giving refund alternatives and giving receipts for auto rides. Chief Commissioner Nidhi Khare of the CCPA noted that Ola’s no-questions-asked refund policy did not give customers the option to get bank account refunds; instead, it only offered coupon tickets for future rides.
The CCPA declared in a statement that “this practice violates consumer rights.” “Using this facility to take another ride is not an incentive for customers to use the company’s no-question-asked refund policy.”
The app displays the notice, “Customer invoice for auto rides will not be provided due to changes in Ola’s auto service T&Cs,” if a customer tries to view an invoice for an auto ride that they booked on Ola, according to the regulator.
As per CCPA, failing to provide a bill, invoice, or receipt for the products sold or services rendered qualifies as an “unfair trade practice” for the purposes of the Consumer Protection Act of 2019. It has instructed the taxi aggregator to provide its clients with bills.
Who is Central Consumer Protection Authority?
Established under the Consumer Protection Act, 2019, the CCPA went into effect on July 24, 2020, and is designed to regulate issues pertaining to consumer rights violations, unfair trade practices, and deceptive or false advertisements that harm consumers’ interests and those of the general public.
The CCPA maintains regional offices throughout India in addition to its headquarters in Delhi, the nation’s capital. A Chief Commissioner and other Commissioners chosen by the Central Government oversee the CCPA.
Ola Aligning Itself with CCA
In accordance with the Consumer Protection Act of 2019, the regulator further ordered Ola to provide bills or invoices for every auto ride that was scheduled through its platform, referring to the lack of such evidence as an “unfair trade practice.”
Ola has made a number of changes in response to the CCPA’s intervention. These include posting the contact information of grievance and nodal officers on its website, making cancellation policies and fees obvious at the time of booking, expanding the list of options for reasons why a ride may be cancelled, and making the fare component breakdowns available to the public.
The addresses of the pickup and drop places were displayed to drivers, and the payment periods were adjusted to enable drivers to get paid quickly.
What Leads CCPA to Intervene?
From January to October 2024, the CCPA received 2,061 complaints against Ola. The most common concerns included overcharging, delays in refunds, and troubles with drivers.
“The Consumer Protection Act (CCPA) has demonstrated unwavering commitment to upholding Ola’s adherence to the legal framework designed to safeguard consumer rights by means of its regulatory intervention,” the regulator remarked.
This action is taken in response to the CCPA’s increased examination of digital platforms in order to safeguard consumer interests in the quickly expanding ride-hailing and e-commerce industries.
