Businesses can now enter their GSTIN (Goods and Services Tax Identification Number) while making purchases on the Blinkit platform, thanks to a new feature. Albinder Dhindsa, the CEO, claims that this change is a reaction to consumer demand, especially from companies buying expensive goods like electronics. Businesses can now claim up to 28% in GST input credits for their purchases, thanks to the introduction of GST invoicing.
With the new feature, users may now enter their GSTIN directly into the Blinkit app and receive invoices that are GST-compliant. This is particularly crucial for companies that wish to use GST input credits to reduce overall expenses. For instance, if a business makes purchases at the 28% GST rate, it can claim a portion of those purchases as input credit.
What is GSTIN?
Each taxpayer (GST-registered business, firm, dealer, supplier, or business entity) receives a 15-digit unique identification number known as the Goods & Services Tax Identification Number, or GSTIN, after registering under the GST regime in India.
Every company operating in a state or Union territory receives a unique PAN, state information, and a Goods and Services Tax Identification Number (GSTIN). Businesses and individuals must register with the state government and get a unique 15-digit GSTIN in accordance with the GST Act of 2017. Several GST-related processes, including filing returns, claiming input tax credits, and making tax payments, require the GSTIN Number.
How New GST Invoicing Will Work in Blinkit?
Upon checking out, customers will be presented with the option to
“Add GSTIN.”
A GST-compliant invoice is created for the transaction as soon as the
GSTIN is added.
The buyer’s GST input credit, which may reach up to 28% depending on
the product category, is shown on the invoice.
People’s Reaction
The founder of Blinkit, Albinder Dhindsa, recently announced on LinkedIn the introduction of a new tool that enables companies to include their GSTIN while making transactions. The new feature responds to the increasing need for GST-compliant invoices among Blinkit’s business clients, which are essential for making decisions, especially for expensive transactions.
Users responded enthusiastically to the news, praising the company’s recent launch. A significant turning point in Blinkit’s development, Dhindsa’s action solidifies the platform’s position as a major force in the B2B market. An enthusiastic user left a comment on the post, saying, “That’s great news! Adding a GSTIN is a useful feature, particularly for companies making expensive purchases. It will undoubtedly streamline the invoicing process and make it easier for customers to obtain tax benefits. I’ll try it out and let you know what I think shortly. Thank you for putting the needs of your customers first.”
The declaration by Dhindsa shows the company’s intention to meet the needs of its business clients, many of whom depend on GST-compliant invoices for accounting accuracy and tax advantages. He urged users to give the function a try and report back.
In an effort to support the company’s restructuring efforts in the wake of the $234.9 million cryptocurrency theft, WazirX said on October 2 that it was in the process of establishing a Committee of Creditors (COC). According to a blog post, the committee will be made up of ten COC members, whose identities would be kept secret from the credit base.
In addition to advocating for creditors’ interests, the members will be in charge of keeping an eye on the restructuring’s advancement and reporting back to the corporation on creditor preferences and priorities. The company and its advisors anticipate sending emails to creditors on October 3 in order to finish Phase 1—the creation of a contingent creditor pool—according to the blog post. By October 7, these creditors have the opportunity to express their desire to join the COC. Phase 2—the prospective COC member pool—will be finished by October 8; on October 9, the committee will be established.
Security Breach Resulting in Revamping
After its Safe Multisig wallet experienced a security issue in July, WazirX temporarily stopped accepting withdrawals. It stated that assets valued at $234.9 million had been moved to an unidentified place. Up to 66% of users’ INR holdings will soon be available for withdrawal, according to a statement made by WazirX in August.
Zettai Pte Ltd, the parent company of Zanmai Labs, which runs WazirX in India, filed a request for a moratorium under Section 64 of the Insolvency, Restructuring, and Dissolution Act, 2018 with the High Court of Singapore in September. Last week, the company was given a four-month respite by the court, which enabled it to initiate a restructuring procedure and reimburse a portion of the monies to the impacted users.
During a town hall meeting for journalists last month, the business stated that it is exploring several options, including partnerships and collaborations, in response to the cyberattack. It refuses to provide further details, though.
About WazirX
WazirX has developed beyond being just a digital asset trading platform since its founding in 2018. The path has been driven by enthusiasm, determination, and a desire to provide all Indians with democratised access to cryptocurrency. WazirX claims to be the market leader in terms of transaction volumes, boasting a listing of over 350 cryptos and tokens and over 16 million users. This solidifies WazirX’s position as a reliable leader in the nation’s cryptocurrency market.
According to WazirX, its goal is to put India at the forefront of the cryptocurrency revolution. The company always innovates to create the safest, most dependable, and most intuitive platform possible. Additionally, it is committed to building a regulated ecosystem and boosting credibility and confidence in the bitcoin space.
For organizations to efficiently manage, analyse, and use their data in the data-driven landscape, the appropriate architecture must be selected. Businesses are switching from traditional data warehouses to more contemporary architectures like Data Lake, Delta Lake, and Data Mesh in response to the growing need for real-time insights, cost-effectiveness, and regulatory compliance. An organization’s unique requirements, industry standards, and technology infrastructure all play a role in choosing the best framework.
A data lake is a central repository that stores structured and unstructured data at any scale. It gives businesses the flexibility to use analytics and AI applications by allowing them to ingest raw data from various sources. However, data lakes often face challenges related to data governance, quality, and latency, which can impact performance.
Delta Lake builds on the concept of a data lake but introduces features like ACID transactions, schema enforcement, and improved data reliability. For industries needing high data accuracy and low-latency decision-making, it is perfect because it allows for faster data processing and real-time analytics.
Data Mesh decentralizes data ownership, distributing responsibility to domain-specific teams. It promotes interoperability, self-service analytics, and scalability, making it suitable for large enterprises looking to enhance cross-functional collaboration while maintaining data governance.
A specialist in healthcare data architecture, Hari Prasad Bomma has created and executed scalable frameworks that maximize Data Lake, Delta Lake, and Data Mesh configurations. He has improved AI-driven insights, reinforced data security and lineage, and guaranteed compliance with HIPAA regulations by utilizing Microsoft cloud technologies like Azure Synapse Analytics, Databricks, Python, PySpark, and Purview. His expertise in strategic auto-scaling and serverless computing has also contributed to significant cost optimizations in cloud storage and computing resources.
As a key contributor to his organization, Hari Prasad has played a fundamental role in optimizing cloud storage and compute efficiency, resulting in substantial cost savings. His work in implementing Delta Lake and real-time analytics has led to improved reporting and clinical decision-making. Through strategic leadership and collaboration, he has helped establish a robust, future-ready data ecosystem that enhances operational efficiency, regulatory compliance, and data-driven insights within the healthcare sector.
One of Hari Prasad’s most impactful projects involved the implementation of an enterprise-wide data lake, enabling seamless integration of structured and unstructured healthcare data. Additionally, he designed a near real-time system using Delta Lake, Azure Synapse, and Databricks, reducing alert latency and enhancing proactive data quality.
His contributions to optimizing data processing efficiency have been substantial, with a Delta Lake-based architecture reducing data retrieval time by 60% and improving query performance for large-scale healthcare datasets. His focus on cost reduction has led to a 30% decrease in cloud storage costs through efficient partitioning strategies and lifecycle policies in Azure Data Lake, along with a 30% reduction in computing expenses using serverless Azure Synapse pools.
His work in near real-time analytics and security compliance has resulted in developing a near real-time system that reduces critical alert latency, improves data quality, and ensures 100% HIPAA compliance through Azure Purview-based data lineage tracking and role-based access control.
Furthermore, he has strengthened data interoperability by establishing a cross-organization Data Mesh framework, enabling 30% faster data exchange between business units. These results highlight his strong track record in efficiency improvements, cost savings, AI advancements, and compliance within healthcare data ecosystems.
Large-scale, unstable source data management has presented many challenges that Hari Prasad Bomma has successfully overcome. Traditional architectures struggled with near real-time data quality and governance, which he addressed by implementing Delta Lake with Azure Databricks and Synapse. This implementation resulted in 60% faster data retrieval and 40% more efficient ETL processes, significantly improving both clinical decision-making and marketing analytics. Another major challenge he addressed was optimizing costs without compromising performance. By leveraging Azure Synapse serverless computing and lifecycle policies, he reduced storage costs and compute expenses by 25%, ensuring a cost-efficient, scalable architecture.
Choosing between Data Lake, Delta Lake, and Data Mesh depends on an organization’s data strategy, governance requirements, and scalability needs. While data lakes provide flexibility, delta lakes enhance reliability, and data mesh promotes decentralization and agility. Each approach has its strengths, and organizations must align their selection with their long-term data goals. As Hari Prasad Bomma mentions, businesses that adopt automation, AI governance, and hybrid architectures will be at the forefront of the next wave of data ecosystems that are intelligent, scalable, and compliant as the industry develops.
The Department for Promotion of Industry and Internal Trade (DPIIT) and Johnson Controls-Hitachi Air Conditioning India Ltd. have inked a Memorandum of Understanding (MoU) to build an incubator to assist businesses in Gujarat that are focused on manufacturing. In terms of Johnson Controls-Hitachi Air Conditioning India’s dedication to fostering innovation and bolstering the nation’s manufacturing environment, this is an important turning point.
The purpose of this Startup Incubator is to support technical innovation, sustainability, and energy efficiency by offering a strong platform to firms that are concentrated on particular manufacturing sectors. Under the direction of Sanjay Sudhakaran, Managing Director, Johnson Controls-Hitachi Air Conditioning India Limited, India & South Asia Region, and Sumeet Jarangal, Director, DPIIT, Ministry of Commerce and Industry, the Memorandum of Understanding was formalised. The joint secretary of the DPIIT, Sanjiv, was also present during the signing-off ceremony.
According to Director of DPIIT, Ministry of Commerce and Industry Sumeet Jarangal, India is moving closer to a Viksit Bharat as a result of the Prime Minister’s “design in India, design for the world” philosophy. With several programmes like the Make in India and Production-Linked Incentive Scheme, he continued, the Indian government is dedicated to growing the manufacturing sector. He underlined that developing an ecosystem of startups and an innovation pipeline are critical components of strengthening India’s manufacturing sector.
He expressed optimism that the collaboration with Johnson Controls-Hitachi Air Conditioning India Ltd. will give the nation’s youthful innovators and entrepreneurs the much-needed support and direction.
Providing Mentorship and Guidance
The manufacturing entrepreneurs will receive mentorship and coaching on a range of crucial topics, from concept-to-prototype development, project viability evaluation, and go-to-market strategies, from the Johnson Controls-Hitachi Air Conditioning India Limited incubator. In order to enable the commercialisation of unique items, the organisation will also assist clients in managing future financial demands in addition to other essential services like legal and intellectual property filing.
The Government of India and DPIIT deserve praise for their innovative idea and for offering this special platform that links entrepreneurs with the industry, opined Sanjay Sudhakaran, Managing Director of Johnson Controls-Hitachi Air Conditioning India Limited in the India & South Asia Region. He stated that it’s time for India to achieve a similar level of success in the manufacturing sector, having already demonstrated its inventiveness and entrepreneurial skill in the IT sector with many unicorns. He added that Johnson Controls-Hitachi Air Conditioning India Limited has made significant investments in India to build top-notch R&D and production capabilities.
The Gujarat Connection
The Johnson Controls-Hitachi Air Conditioning India Limited is supported by Japanese innovation, technology, and industry-leading experience. He underlined that the Global Development Centre and the production site in Kadi, Gujarat—one of the biggest air conditioner manufacturing facilities in India—are dedicated to providing Indian consumers with cutting-edge, high-end, and feature-rich air conditioning products.
The company is thrilled to work with DPIIT to establish a cutting-edge incubator at its Kadi, Gujarat, location, according to Sanjay Sudhakaran. This strategic partnership between Johnson Controls-Hitachi Air Conditioning India Ltd. and DPIIT demonstrates the company’s commitment to innovation in the manufacturing sector and is in line with the Indian government’s goal of promoting industrial growth and technical advancement. Manufacturing-focused businesses would receive the critical support and mentoring needed to realise their ideas through this incubator.
Corporate gifting has become an important tool for building relationships, expressing gratitude, and improving brand image in the fast-paced world of business. Whether it’s for employees, clients, or partners, the right gift can make a lasting impression. Companies that specialize in corporate gifts have increased dramatically in India, a country with a long history of gift-giving and a rapidly expanding corporate sector. With the aim of giving you a thorough guide to help you make wise decisions, we will examine the top corporate gifting companies in India for 2024.
Before diving into the list, it’s essential to understand why corporate gifting is crucial:
Strengthening Relationships: Gifting helps in building and nurturing relationships with clients, employees, and business partners.
Brand Promotion: Thoughtful gifts with your company’s logo can serve as a constant reminder of your brand.
Employee Motivation: Recognizing employees’ hard work with gifts can boost morale and productivity.
Client Retention: A well-chosen gift can enhance client loyalty and ensure long-term business relationships.
Top Corporate Gifting Companies in India 2024
Ferns N Petals (FNP)
Company
FNP
Founded
1994
Gifting Options
Gifts, Flowers, Cakes, Plants
Website
www.fnp.com
Ferns N Petals – Best Corporate Gifting Companies in India
Overview: Ferns N Petals, popularly known as FNP, is a household name in the gifting industry. With a wide range of products and a robust delivery network, FNP is a go-to choice for corporate gifting.
Specialties: Customized gifts, gift hampers, flowers, and plants.
USP: FNP offers personalized branding options on gifts, ensuring your brand stands out.
Printland
Company
PrintLand
Founded
2011
Gifting Options
Gifts like Polos, Water Bottles and more
Websie
www.printland.in
Printland – Best Corporate Gifting Companies in India
Overview: Printland is a leading player in the corporate gifting market, known for its extensive range of customizable products.
ChocoCraft – Best Corporate Gifting Companies in India
Overview: ChocoCraft specializes in unique chocolate gifts that can be customized with logos and messages. They are perfect for making a sweet impression.
Specialties: Customized chocolates, and corporate gift hampers.
USP: Edible branding with high-quality chocolates.
IGP (International Gifts Platform)
Company
IGP
Founded
2016
Gifting Options
Employee Kits, Tech, Apparel, Drinkware
Website
www.igp.com
IGP – Best Corporate Gifting Companies in India
Overview: IGP offers a wide range of gifts catering to various occasions and preferences. Their corporate gifting solutions are designed to meet diverse business needs.
Specialties: Personalized gifts, gourmet hampers, home decor.
USP: Extensive product range and customization options.
The Giving Tree
Company
The Giving Tree
Founded
2002
Gifting Options
Apparel, Mugs, Backpacks
Website
www.thegivingtree.in
The Giving Tree – Best Corporate Gifting Companies in India
Overview: The Giving Tree focuses on eco-friendly and sustainable gifts, making them an excellent choice for environmentally conscious companies.
USP: Sustainable and eco-friendly gifting options.
Archies Limited
Company
Archies
Founded
1979
Gifting Options
Cakes, Flowers, Cards and more
Website
archiesonline.com
Archies Limited – Best Corporate Gifting Companies in India
Overview: Archies is a well-known brand with a vast network of stores across India. They offer a wide range of corporate gifts suitable for various occasions.
USP: One-stop solution for office and corporate gifting needs.
BrandSTIK
Company
BrandSTIK
Founded
2016
Gifting Options
Tech, Welcome kits, Suitcase
Website
www.brandstik.com
BrandSTIK – Best Corporate Gifting Companies
Overview: BrandSTIK is known for its innovative and tech-savvy corporate gifts. They offer cutting-edge products that are perfect for modern businesses.
Overview: Presto Gifts provides a wide range of personalized gifts, making them a popular choice for corporate gifting.
Specialties: Customized gifts, 3D crystal gifts, personalized accessories.
USP: Unique and personalized gifting solutions.
Giftana India
Company
Giftana India
Founded
2018
Gifting Options
Office Hampers and other gift sets
Website
www.giftanaindia.com
Giftana India – Best Corporate Gifting Companies
Overview: Giftana India offers a diverse range of corporate gifts that cater to different tastes and preferences. Their products are designed to leave a lasting impression.
The Gift Lounge: Known for premium corporate gifts including tech gadgets, office supplies, and lifestyle products.
OffiNeeds: specializes in corporate gifting solutions with a focus on employee and client appreciation gifts.
PrintStop: Offers customized corporate gifts like stationery, apparel, and other branded merchandise.
GiftCart: Provides a wide array of personalized gifts suitable for corporate events and client appreciation.
Corporate Gifts Co.: Known for high-end executive gifts, promotional products, and customized gifting solutions.
Qwikcilver: Specializes in gift cards and vouchers, providing flexible gifting solutions for employees and clients.
Corporate gifts are a strategic tool that can help you forge strong bonds with your staff, improve the perception of your brand, and inspire them. They are more than just a formality. The businesses on the above list are among the greatest in the business, providing a vast selection of goods and personalization choices to satisfy your needs for business gifts.
When choosing a corporate gifting partner, consider factors such as product range, customization options, delivery network, and budget. With the right partner, you can ensure that your gifts make a lasting impression and contribute to your business’s success.
FAQ
What is the concept of corporate gifting?
Corporate gifting involves companies giving gifts to clients, employees, or partners to strengthen relationships and show appreciation. These gifts can range from promotional items to personalized products, aimed at fostering goodwill and brand loyalty.
What are the rules of corporate gifting?
Corporate gifting rules include understanding the recipient’s preferences, staying within budget, and avoiding conflicts of interest. Gifts should be tailored to occasions and can be personalized to strengthen relationships.
Is corporate gifting important?
Yes, corporate gifting is important as it helps strengthen relationships with clients, employees, and partners, fostering goodwill and loyalty. It can enhance brand image and recognition while showing appreciation and gratitude, ultimately contributing to a positive business environment.
Is corporate gifting profitable?
Corporate gifting can be profitable as it often leads to improved client relationships, increased customer loyalty, and enhanced employee satisfaction. These benefits can result in repeat business, referrals, and a stronger brand reputation, ultimately contributing to the company’s bottom line.
A new venture capital fund with a target size of INR 250 crore has been established by LC Nueva Investment Partners, a collaboration between Lighthouse Canton in Singapore and Nueva Capital in Delhi.
With a greenshoe option of INR 100 crore, the new LC Nueva Momentum Fund would aim to reach a target size of INR 150 crore. The VC fund will concentrate on making investments in ten to fifteen businesses that are in the Series A and B funding stages. This collaboration created the LC Nueva Fund in 2023, with an INR 350 crore size cap. An official statement claims that since its completion, the fund has had impressive results, with more than half of the companies obtaining additional funding rounds and having an average revenue growth rate of almost 57%.
As of June 30, 2024, Lighthouse Canton, a global asset and wealth management company, was managing assets worth over $3.7 billion. Ashish and Sohil Chand launched Nueva Capital, an investment holding company that oversees $100 million in both the public and private markets.
What is the Greenshoe Option?
During initial public offerings (IPOs), corporations employ the greenshoe option, sometimes called the over-allotment option, to keep the stock price stable in case there is increased demand for their shares after the IPO. In the event of excess demand, it gives the underwriters, who help with the initial public offering (IPO), the authority to issue more shares—usually up to 15% of the initial shares issued. In addition to keeping the share price from soaring, the greenshoe option gives underwriters the chance to repurchase shares at the offer price, which helps stabilize the stock price.
New Focus Areas
The LC Nueva Momentum Fund will now concentrate on three main areas: secondary market investing, neighboring prospects, and reinvesting in already profitable portfolio companies.
“We are well-positioned to successfully navigate the current market dynamics by aggressively chasing secondary opportunities and utilizing the solid connections made through our prior fund,” said Sohil Chand, the founding partner and CIO of LC Nueva Fund. The venture capital business claims that the secondary market in India has grown significantly due to a pressing demand for liquidity and falling valuations.
Sanket Sinha, Global Head of Asset Management at Lighthouse Canton, stated that secondary funds grew at the quickest rate of any asset class globally in 2023.
Portfolio secondaries, in which funds buy out entire General Partner portfolios, have significantly increased in India in recent years. These transactions used to be rare, but as businesses get older, institutional secondary investors are increasingly buying private secondary portfolios. He further explained that in the first half of 2024 alone, secondary share sales accounted for 34% of transactions in the $50–500 million area for big deals.
This article has been contributed by Gaurav Bakshi, Founder and CEO, FlickZilla Entertainment.
Startups face a daunting challenge: standing out amidst established giants with massive marketing budgets. This is where influencer marketing emerges as a potent weapon, leveraging the reach and trust of social media personalities to connect with target audiences. But for a startup, the question remains: does influencer marketing really work?
The answer is a resounding yes, but with a crucial caveat: it depends. Influencer marketing can be a game-changer for startups if done strategically, but a poorly planned campaign can drain resources and yield minimal results. Let’s dive deeper into how startups can use influencer marketing effectively.
The Power of Authenticity: Why Influencer Marketing Resonates
Influencer Marketing Market Growth
Consumers today crave authenticity. They value genuine recommendations from trusted sources over traditional advertising. This is where influencers step in. By partnering with individuals who have built a loyal following by creating relatable content, startups can tap into this trust network.
Influencers Can:
Increase Brand Awareness: They expose your startup to a wider audience, particularly within their specific niche. For instance, a study by Influencer Marketing Hub found that 67% of marketers believe influencer marketing is effective at increasing brand awareness.
Boost Credibility: Positive endorsements from a trusted voice add legitimacy to your brand. According to Sprout Social, 83% of consumers trust recommendations from influencers.
Drive Engagement: Influencers create compelling content that showcases your product or service, sparking audience interaction and interest. For example, popular beauty influencer Komal Pandey frequently shares her beauty routines using new skincare products, directly engaging her audience and boosting brand interest.
Generate Conversions: Engaged users are more likely to trust an influencer’s recommendation, leading to website visits, sales, or sign-ups. Mediakix reports that influencer marketing can generate an average ROI of $11 for every $1 spent.
Case Study: Mamaearth’s Influencer Marketing Magic
Mamaearth, the Indian natural personal care brand, is a prime example of how influencer marketing can propel a startup to success. They strategically collaborated with over 1,000 micro and macro-influencers known for promoting organic and healthy living. Influencers like Dolly Singh, Masoom Minawala, and Shreya Jain played a crucial role in promoting Mamaearth’s eco-friendly skincare products.
These influencers created authentic content that resonated with their followers, highlighting the benefits of using natural ingredients in skincare. This campaign resulted in a 300% increase in website traffic and a 250% boost in sales for Mamaearth, proving that the right influencer strategy can lead to exceptional growth.
Tips for Startups to Conquer Influencer Marketing
Define Your Goals:
Clearly outline what you aim to achieve with your campaign, whether it’s brand awareness, website traffic, or sales. Align your influencer selection and content strategy with these goals.
Identify the Right Influencers:
Go beyond vanity metrics like follower count. Look for influencers who resonate with your brand, create engaging content, and have a high engagement rate with their audience. Micro-influencers (with 10k-50k followers) often provide more value for startups due to their loyal and highly engaged communities.
Focus on Brand Alignment:
Choose influencers who genuinely represent your brand values. For example, Shreya Jain’s content aligns well with beauty and wellness brands like Nykaa, ensuring that her followers see her endorsements as trustworthy.
Craft Compelling Content:
Collaborate with influencers to create engaging content that feels natural and not overly promotional. Influencers like Komal Pandey and Debasree Banerjee are known for creating highly relatable and visually appealing content, which drives engagement without sounding like a sales pitch.
Measure and Analyze:
Track key metrics like reach, engagement, website traffic, and conversion rates to evaluate the campaign’s success. Use this data to refine future strategies.
Beyond Mamaearth: Exploring Diverse Success Stories
1. Dollar Shave Club:
This men’s grooming startup gained viral fame with a humorous YouTube ad featuring influencer Michael Dubin. The quirky approach resonated with their target audience, transforming the brand from a newcomer to a market leader almost overnight.
2. Glossier:
The beauty brand leaned on micro-influencers and beauty bloggers like Jackie Aina to review their products. These authentic reviews and makeup tutorials helped Glossier build a strong online community of loyal customers.
3. MVMT Watches:
By partnering with Instagram fashion influencers, MVMT showcased their stylish timepieces to a targeted audience. Influencers like Daniel Wellington played a significant role in promoting their minimalist watch designs, leading to a surge in brand awareness.
4. Zomato:
Food bloggers and chefs like Sarah Todd have collaborated with Zomato to share delicious food options, making their platform a go-to choice for food enthusiasts. This influencer-led strategy has significantly boosted Zomato’s user engagement.
5. Nykaa:
Beauty influencers like Shreya Jain and Debasree Banerjee have reviewed and promoted Nykaa’s extensive product range. These collaborations helped Nykaa establish its credibility as a leading beauty e-commerce platform in India.
6. Sugar Cosmetics:
Indian beauty brand Sugar Cosmetics regularly partners with influencers to create engaging content showcasing their products. Influencers like Malvika Sitlani have helped the brand reach a younger, trend-conscious audience, turning Sugar into a favorite among millennials.
These success stories illustrate the power of tailored influencer marketing strategies. Remember, the key lies in aligning your campaign with your brand’s unique identity and goals.
Conclusion: Influencer Marketing for Startups – A Powerful Tool, but Not a Silver Bullet
Influencer marketing can be a transformative strategy for startups, offering an edge in building brand awareness, credibility, and engagement. However, it requires a well-thought-out approach, from selecting the right influencers to crafting engaging content that resonates with your audience. Learning from the experiences of successful brands like Mamaearth, Nykaa, and Sugar Cosmetics, startups can harness the full potential of influencer marketing to carve their niche in a competitive market.
The Indian festive season is a time of joy, celebration, and spending. It starts with Ganesh Chaturthi and extends through Navratri, Diwali, and Christmas. This period offers a plethora of business opportunities as people are in a mood to shop, decorate their homes, and indulge in various festivities. If you’re an aspiring entrepreneur looking to capitalize on this vibrant season, you’re in the right place. Here are some profitable business ideas for the Indian festive season that can bring you significant returns.
Ethnic Wear – Profitable Business Ideas for the Indian Festive Season
Why It Works:
Festivals like Diwali and Navratri see people dressing up in their finest traditional attire. The demand for ethnic wear, such as sarees, lehengas, and kurtas, skyrockets. Accessorieslike jewelry, bangles, and traditional footwear also see a surge in sales.
How to Start:
Source Quality Products: Partner with local artisans and boutiques to source high-quality, unique ethnic wear.
Online Presence: Create an online store or use platforms like Amazon and Flipkart to reach a wider audience.
Social Media Marketing: Use Instagram and Facebook to showcase your collection and attract customers.
Potential Earnings:
Depending on the quality and uniqueness of your products, you could earn anywhere from INR 10,000 to INR 1,00,000 per month.
Chirstmas tree decoration Video – Profitable Business Ideas for the Indian Festive Season
Why It Works:
From Diwali diyas to Christmas trees, the festive season is incomplete without decorations. People love to adorn their homes with lights, rangoli, and festive ornaments.
How to Start:
Product Range: Offer a variety of decorations, including eco-friendly options.
Workshops: Conduct workshops on making DIY decorations to engage your audience.
Collaboration: Partner with event planners to supply bulk orders for festive events.
Potential Earnings:
With a good product range and effective marketing, you can earn between INR 20,000 to INR 1,50,000 during the festive season.
Gift Hampers and Personalized Gifts
Personalised Gift – Profitable Business Ideas for the Indian Festive Season
Why It Works:
Gift-giving is a huge part of the festive season. Personalized gifts and curated gift hampers add a special touch, making them highly desirable.
How to Start:
Curate Hampers: Create themed gift hampers for different occasions and budgets.
Personalization: Offer customization options for gifts like mugs, photo frames, and cushions.
Corporate Gifting: Target corporate clients for bulk orders.
Potential Earnings:
Depending on the range and customization options, you can earn between INR 15,000 to INR 1,00,000 per month.
Festive Sweets and Savories
Sweets and Savories – Profitable Business Ideas for the Indian Festive Season
Why It Works:
No celebration is complete without sweets and savories. Traditional Indian sweets like ladoos, barfis, and namkeens are always in high demand.
How to Start:
Quality Ingredients: Use high-quality ingredients to ensure taste and safety.
Packaging: Attractive packaging can make your products stand out.
Online Orders: Offer online ordering and home delivery services.
Potential Earnings:
With a focus on quality and effective marketing, you can earn between INR 20,000 to INR 2,00,000 during the festive season.
Event Planning and Management
Event Planning – Profitable Business Ideas for the Indian Festive Season
Why It Works:
The festive season is a time for parties, weddings, and community events. Professional event planners can help make these events memorable.
How to Start:
Portfolio: Create a portfolio showcasing your previous work.
Vendor Network: Build a network of reliable vendors for catering, decoration, and entertainment.
Packages: Offer customizable event packages to suit different budgets.
Potential Earnings:
Depending on the scale of events you manage, you can earn between INR 50,000 to INR 5,00,000 per event.
Handicrafts and DIY Kits
Handicrafts – Profitable Business Ideas for the Indian Festive Season
Why It Works:
Handmade products have a unique charm and are often preferred for their authenticity and craftsmanship.
How to Start:
Product Range: Offer a variety of handicrafts, including pottery, textiles, and wooden items.
DIY Kits: Sell DIY kits for people who love crafting their own decorations.
Workshops: Conduct workshops to teach crafting skills.
Potential Earnings:
With a good product range and effective marketing, you can earn between INR 10,000 to INR 1,00,000 per month.
Home Cleaning and Organizing Services
Home cleaning services – Profitable Business Ideas for the Indian Festive Season
Why It Works:
People like to clean and organize their homes before the festive season. Professional cleaning services can save them time and effort.
How to Start:
Service Packages: Offer different packages based on the size and requirements of the home.
Trained Staff: Hire and train staff to ensure high-quality service.
Marketing: Use social media and local advertising to reach potential customers.
Potential Earnings:
Depending on the number of clients and the services offered, you can earn between INR 20,000 to INR 1,00,000 per month.
Online Tutorials and Workshops
Crafting tutorial – Profitable Business Ideas for the Indian Festive Season
Why It Works:
Many people are interested in learning new skills during the festive season, such as cooking, dancing, and crafting.
How to Start:
Identify Skills: Identify the skills you can teach, such as cooking festive dishes or making decorations.
Online Platform: Use platforms like Zoom or YouTube to conduct your tutorials.
Fee Structure: Offer both free and paid classes to attract a wider audience.
Potential Earnings:
With a good following and effective marketing, you can earn between INR 10,000 to INR 50,000 per month.
There are a tonne of business opportunities waiting to be seized during the festive season in India. During this time, there are many ways to make money, from ethnic clothing to event planning. The secret is to find a market niche that fits your interests and skill set and then use that niche to effectively sell your goods or services.
Remember, the festive season is not just about making money; it’s also about spreading joy and happiness. You can create a lasting customer base for the future and make this holiday season memorable for your clients by providing high-quality goods and services.
So, what are you waiting for? Choose a business idea that excites you and start planning today.
FAQ
Are seasonal products profitable?
Yes, seasonal products can be highly profitable due to increased demand during specific times of the year, such as festivals or holidays. Proper marketing and timely availability can lead to significant sales boosts.
How do I prepare my business for holiday season?
To prepare for the holiday season, increase inventory, launch festive marketing campaigns, and ensure your website is user-friendly. Train staff for excellent customer service, create a festive atmosphere and offer gift bundles. Engage customers on social media and plan for efficient shipping to maximize success!
How do you attract customers on holidays?
Attract customers during holidays by offering special promotions, creating festive marketing campaigns, utilizing social media, and enhancing in-store experiences with decorations and events. Providing excellent customer service and personalized recommendations also helps draw in shoppers.
Which Indian holidays generate the most money?
Major Indian holidays that generate significant revenue include:
Diwali: High spending on gifts, sweets, and decorations.
Durga Puja: Increased sales in fashion, decor, and food.
Eid: Boost in sales of clothing, sweets, and food items.
Christmas: Growth in retail, gifts, and decorations.
Pongal/Makar Sankranti: Increased sales in traditional foods and new clothing.
One of the biggest technology investors in the world, Prosus, is increasing its position in the home services platform Urban Company by almost double. The Netherlands-based investor wants to increase its holdings before the business goes public early next year.
According to a media report, Prosus, which has funded some of the largest startups in the nation, including Swiggy, Meesho, and Eruditus, among others, will be investing roughly $30 million in an all-secondary transaction, providing Bessemer Venture Partners a partial exit. The deal will be closed at a fixed valuation of $2.6 billion. Note that secondary transactions usually occur at significantly lower valuations.
Accel Partners and Elevation Capital
Two of Urban Company’s initial investors, Accel Partners and Elevation Capital, sold a portion of their shareholding to Dharana Capital in July in an all-secondary deal valued at approximately INR 400 crore. The sources claim that while both companies were thinking about selling additional stakes, they have now shelved those plans and will wait for the company’s IPO the following year.
Even the possibility that Steadview was considering a sale is unfounded, according to a media report. Only Bessemer is offering the biggest portion and minor secondaries for Elevation and Acceleration. The report went on to say that Urban Company is one of the few good assets and that Prosus has an opportunity to take full advantage of it by doubling down its investment, and watch its valuation rise at the IPO the next year.
India’s Venture Capital Landscape
Recent trends in India’s venture capital scene indicate that when their initial fund cycles are coming to an end, early-stage VCs are choosing to quit their portfolio businesses. In April, The CapTable published a detailed article about how venture capitalists (VCs) were seeking to sell their holdings in secondary transactions.
However, Prosus’ decision to raise its ownership in Urban Company follows a significant multi-hundred million-dollar profit from its investment in Swiggy, a rapid commerce and food delivery company getting ready for an IPO later this year. Despite suffering large losses on two of its largest Indian assets, Pharmeasy and Byju’s, Prosus is now focussing on growing its other purportedly profitable businesses. Prosus also wants to expand the scope of its holdings outside of tech ventures. Prosus made a $100 million investment in Vastu Housing Finance in September. It also planned to spend about $40 million on the jewellery platform Bluestone.
The Urban Company was founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan about ten years ago. It last received main funding in 2021 from a variety of investors, including Prosus, Steadview, Dragoneer, and Tiger Global Management. At the time, the corporation was worth $2.6 billion. It has started discussions about an IPO with a few investment institutions.
‘Amazon MX Player’ was introduced by Amazon on 7 September 2024 after it announced that it had taken over the free streaming OTT platform MX Player and combined it with its video streaming service, miniTV. Amazon kept the acquisition’s valuation a secret. A wider audience will be able to access premium-free content thanks to the combination.
Recently, Amazon acquired certain assets of MX Player, which includes the MX Player app, a prominent free streaming OTT service in India. According to Amazon’s official statement, with this acquisition, it is combining two of the most well-liked free AVOD (or ad-supported video on demand) services in India, MX Player, and Amazon miniTV, into a single service, Amazon MX Player. It further stated that over 250 million distinct users of the combined service in September had access to thousands of original series, well-known films, and foreign series dubbed in regional tongues.
The service may be accessed via Prime Video, Fire TV, the Amazon.in Shopping apps, mobile apps, and connected TVs.
How This Integration Will Be Done?
Users won’t need to update or reinstall the applications for Amazon miniTV and MX Player to seamlessly integrate with Amazon MX Player.
Amazon will continue to provide the service for free while providing higher-quality entertainment and streaming experiences more quickly than the firm could have done on its own. According to Karan Bedi, Head of Amazon MX Player, “This merger will mean great things for Amazon’s viewers, advertisers, and content partners and will let the firm bring MX Player to even more people in India.”
Amazon Will Keep Funding Original Content Production
The online retailer has pledged to continue funding original programming and bringing back beloved series for the new platform.
It stated that this will present chances for advertising to strengthen their bond with viewers. With the acquisition and merger, Amazon has significantly increased its presence in the Indian streaming industry, which also includes Prime Video, its paid service.
“We are combining the enormous reach of MX Player with the advertising technology that takes advantage of Amazon’s billions of consumer signals today,” said Girish Prabhu, head of Amazon Advertising India, highlighting the strategic benefits of this merger. It’s about giving all brands—not just those that sell on Amazon—the ability to connect with and engage a sizable and engaged audience in India with appropriate advertising.
About MX Player
Thousands of hours of premium, exclusive, and original material from top producers and publishers are available on the MX Player video streaming app. The portal prioritizes original content that is exclusively created, with a focus on superior Hindi and regional languages. The spectrum of languages encompasses Malayalam, Tamil, Bengali, Punjabi, Bhojpuri, and Kannada. Customers will have access to more than 20 original series and more than 50,000 hours of multilingual Premium Content on MX Player.
Nitin Konde
