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  • Crafting Memories Creates Value: India’s Thriving Wedding Economy

    Since time immemorial, the matrimonial institution in India has been, at its essence, a festive commemoration, as elucidated in the epic narratives of Mahabharata and Ramayana. Despite the gravitas attached to marriage, Indians embrace it with a festive spirit, recognizing the ephemeral nature of life. From the intricacies of the bride’s lehenga to the meticulous wedding decor, Indians strive for perfection, transforming their affinity for fairytale weddings into a thriving million-dollar industry. This industry encompasses a spectrum of contributors, from small wedding card designers to garland makers and high-end designer labels.

    As per a survey conducted by the Confederation of All India Traders (Cait), India is poised for its grandest wedding season between November 23 and December 15 this year. The survey estimates a staggering 3.5 million weddings during this period, projecting a substantial economic surge in the wedding industry. The anticipated flow of approximately Rs 4.25 trillion in wedding-related purchases and services reflects the monumental scale of these celebrations. In Delhi alone, over 350,000 weddings are expected, constituting 10% of the total within India during these dates and potentially generating Rs 1 trillion for the sector. Last year, 3.2 million weddings took place during the same period, with expenses totaling around Rs 3.75 trillion.

    Cait’s national president, B.C. Bhartia, and secretary general, Praveen Khandelwal, categorize wedding expenditures into five segments, ranging from Rs 3 lakh to over Rs 1 crore per wedding. The Indian wedding industry, currently valued at $100 billion, is anticipated to double by 2030. This growth is fueled by factors such as a burgeoning middle class, increased disposable incomes, and a rising preference for destination weddings.

    India’s demographic profile, with 34% of the population aged 20-39 and close to 10% aged 15-19, sets the stage for sustained industry growth. The marriage of multiple industries within the Indian wedding sector, including apparel, events, and hospitality, underscores its colossal influence. Unlike celebrations in many cultures lasting one to two days, Indian weddings extend over three to seven days, involving key sectors such as hotels, catering, decoration, and entertainment.

    Key components of the Indian wedding industry include matrimony services, venues, catering, decor, apparel, jewelry, and entertainment. Arranged marriages, constituting 93% of unions, drive a diverse matchmaking business, ranging from traditional matchmakers to online platforms like Matrimony.com, valued at over INR 1300 crores.

    Wedding venues, ranging from traditional palaces to modern hotels, form a critical aspect, as does catering, renowned for its lavish feasts featuring diverse cuisines. Elaborate decor, personalized outfits, and traditional jewelry contribute to the opulence of Indian weddings. The cultural shift towards conscious consumption is evident in increasing expenditures on outfits not only for couples but also for close family members and friends, driven by the desire for aesthetically pleasing and Instagram-worthy weddings.

    Renowned designer Sabyasachi Mukherjee emphasizes that wedding collections are no longer limited to brides. The Indian wedding and celebration wear apparel market is projected to grow at a 15% to 17% CAGR, reaching INR 1,325 billion to 1,375 billion by FY2025. The growth is not only fueled by couples but also by demand from their close circles.

    Jewelry holds a significant place in Indian weddings, with brides adorning necklaces, earrings, bangles, and anklets. Entertainment, featuring live music, dance performances, and various forms of entertainment, is integral to Indian weddings.

    Hotels play a crucial role in elevating the grandeur of weddings. Although the hotel industry faced challenges during the pandemic, the lifting of restrictions has resulted in a noticeable uptick in revenue from events and weddings.

    India hosts 25% of the world’s weddings, with couples taking a more active role, especially accelerated by digital platforms and Medtech during the pandemic. Wedding budgets in India this year range from Rs 1 crore to Rs 19 crore, depending on factors like scale, destination, and guest count, as noted by industry experts Tina Tharwani and Nitya Bagri.

    The evolving trends in the Indian wedding industry include destination weddings, themed ceremonies, personalized touches, and a growing emphasis on sustainability. The desire for unique experiences and personalization is evident across various sectors, including travel, food and beverages, and gifting.

    Trends in the Indian Wedding Industry

    Trending Now
    Sustainable Luxury
    Year-Round Weddings
    The New Way Forward

    Indian Wedding Startups

    The landscape of the Indian wedding industry is in constant flux, shaped by emerging trends that redefine the sector’s dynamics:

    Destination Weddings

    A rising trend sees couples opting for exotic locales such as beach resorts, hill stations, and palaces for their nuptials.

    Theme Weddings

    Another prevalent trend involves couples choosing specific themes for their weddings, ranging from Bollywood and fairy tales to vintage motifs.

    Personalized Weddings

    Couples are increasingly seeking ways to infuse their weddings with personal touches, extending from unique attire choices to crafting their wedding cakes.

    Sustainable Weddings

    There’s a growing inclination towards sustainable weddings in India, with couples making eco-friendly choices for venues, catering, and decorations.

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    The Indian wedding industry is ever-booming. Weddings are a great opportunity for entrepreneurs to set up their businesses. Here are some best business ideas for weddings.
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    Customization, with a focus on enhancing guest experiences, lies at the core of meticulously curated high-end weddings. Shivan Gupta emphasizes the importance of details, ensuring that even scaled-down weddings maintain an elevated experience for guests.

    Couples are exploring innovative decor for wedding ceremonies to create immersive sensory experiences. Ambika Gupta, founder, and creative director of The A-Cube Project shares an example where a wedding at Umaid Bhawan Palace aimed to recreate the vibrant atmosphere of a flower market.

    Personalization is a crucial aspect of creating a distinct and lavish wedding. An example is a ceremony inspired by a proposal in the Maldives, with custom embroidered outfits featuring dolphins and marine life.

    Wedding gifts are a significant investment, influenced by social media and a growing interest in conscious gifting. Sustainable brands like Sarjaa, a women’s handbag brand, have witnessed a surge in orders for wedding gifts.

    In the post-pandemic era, couples are favoring craft brands over mainstream ones for alcohol at weddings. There’s a notable shift towards premium choices like aged tequilas, as observed by Kunal Patel and Hemang Chandat of Monika Alcobev.

    Indian Wedding Extravaganza

    Sustainable Luxury

    A notable trend is the rising interest in sustainable luxury, with couples incorporating eco-friendly elements and waste management plans into their weddings. A growing number of couples are prioritizing sustainability, with nearly 25% of inquiries received by Shaadi Squad post-pandemic expressing a desire for eco-friendly elements. This marks a significant increase from the pre-pandemic era.

    Measures such as waste management plans to minimize environmental impact are becoming integral to wedding planning. The A-Cube Project collaborates with NGOs and local artisans for eco-friendly decor elements, reflecting a conscious effort to reduce carbon footprints.

    Year-Round Weddings

    Unlike in the past, weddings are no longer confined to specific seasons. The concept of seasonal weddings is evolving, with millennials embracing destination weddings throughout the year. This shift aligns with the preference for intimate weddings, favored by around 80% of Indian families.

    The New Way Forward

    The Indian wedding industry, currently estimated at Rs 3.78 lakh crore, is projected to experience annual growth rates of 20 to 25 percent, as stated by Praveen Chander Kumar of IHCL. This evolution is marked by couples adopting a more enterprising, conscious, and selective approach to weddings, aiming to showcase their unique identities.

    The trend of young couples striving to create distinctive wedding experiences appears to be a lasting phenomenon, signifying a departure from traditional norms.

    Indian Wedding Startups

    Here are a few wedding startups in India:

    WedMeGood

    Founded 2014
    Based Gurugram
    Services Venue booking, Vendor discovery, Wedding planning tools, Wedding blog
    Top Indian Wedding Startups - WedMeGood
    Top Indian Wedding Startups – WedMeGood

    WedMeGood is a leading wedding planning platform in India that offers a wide range of services to help couples plan their perfect wedding. From venue booking and vendor discovery to wedding planning tools and a popular wedding blog, WedMeGood has everything you need to make your wedding day a success.

    Founded in 2014, WedMeGood is one of the most popular wedding planning platforms in India, with over 1 million users and a presence in over 100 cities. The platform offers a wide range of services, including:

    • Venue Booking: WedMeGood has a comprehensive directory of wedding venues in India, from palaces and banquet halls to beach resorts and hill stations.
    • Vendor Discovery: WedMeGood has a wide range of vendors in its directory, including photographers, videographers, caterers, makeup artists, and décor specialists.
    • Wedding Planning Tools: WedMeGood offers a suite of wedding planning tools to help couples with everything from creating a budget to managing their guest list.
    • Wedding Blog: WedMeGood has a popular wedding blog that features expert advice, inspiration, and real wedding stories.

    ShaadiSaga

    Founded 2015
    Based Delhi
    Services Venue booking, Vendor discovery, Wedding planning tools, Personalized Wedding Planning
    Top Indian Wedding Startups - WeddingBazaar
    Top Indian Wedding Startups – WeddingBazaar

    ShaadiSaga now WeddingBazaar is another popular wedding planning platform in India that offers a similar range of services to WedMeGood. They are known for their focus on providing personalized wedding planning experiences.

    Founded in 2015, ShaadiSaga has a team of experienced wedding planners who work closely with couples to create their dream weddings. The platform offers a wide range of services, including:

    • Venue Booking: ShaadiSaga has a comprehensive directory of wedding venues in India, from palaces and banquet halls to beach resorts and hill stations.
    • Vendor Discovery: ShaadiSaga has a wide range of vendors in its directory, including photographers, videographers, caterers, makeup artists, and décor specialists.
    • Wedding Planning Tools: ShaadiSaga offers a suite of wedding planning tools to help couples with everything from creating a budget to managing their guest list.
    • Personalized Wedding Planning: ShaadiSaga offers a personalized wedding planning experience that is tailored to the needs and preferences of each couple.

    Weddingplz

    Founded 2013
    Based Delhi
    Services Wedding vendor information
    Top Indian Wedding Startups - Weddingplz
    Top Indian Wedding Startups – Weddingplz

    Weddingplz is a Delhi-based wedding planning platform that offers a comprehensive directory of wedding vendors in India. They also have a strong presence in the North Indian wedding market.

    Founded in 2013, Weddingplz is a leading provider of wedding vendor information in India. The platform has a comprehensive directory of wedding vendors, including photographers, videographers, caterers, makeup artists, and décor specialists.

    The Wedding Brigade

    Founded 2015
    Based Mumbai
    Services Venue booking, Vendor discovery, Travel arrangements
    Top Indian Wedding Startups - The Wedding Brigade
    Top Indian Wedding Startups – The Wedding Brigade

    The Wedding Brigade is a Mumbai-based wedding planning platform that specializes in destination weddings. They offer a range of services, including venue booking, vendor discovery, and travel arrangements. Wedding Brigade is a Mumbai-based wedding planning platform that specializes in destination weddings. They offer a range of services, including venue booking, vendor discovery, and travel arrangements.

    Founded in 2015, Wedding Brigade is a one-stop shop for couples planning a destination wedding. The platform offers a wide range of services, including:

    Venue booking: Wedding Brigade has a comprehensive directory of destination wedding venues, from beach resorts to hill stations to palaces.

    Vendor discovery: Wedding Brigade has a wide range of destination wedding vendors in its directory, including photographers, videographers, caterers, makeup artists, and décor specialists.

    Travel arrangements: Wedding Brigade can help couples with all of their travel arrangements, including flights, hotels, and transportation.

    Shaadimagic.com

    Founded 2014
    Based Delhi
    Services Wedding products and services
    Top Indian Wedding Startups - Shaadimagic
    Top Indian Wedding Startups – Shaadimagic

    Shaadimagic.com is a Delhi-based wedding planning platform that offers an online solution for wedding shopping. They have a wide range of wedding products and services available on their website.

    Founded in 2014, Shaadimagic.com is a leading online wedding store in India. The platform offers a wide range of wedding products and services, including clothing, jewelry, décor, and invitations.

    FAQs

    How many weddings are expected during the wedding season between November 23 and December 15 this year?

    A survey from Cait estimates a staggering 3.5 million weddings during this period, projecting a substantial economic surge in the wedding industry.

    Which are the top wedding startups in India?

    weddings

    The trends in the Indian wedding industry include destination weddings, Theme weddings, Personalized weddings, and Sustainable weddings.

  • Mother Sparsh – A Brand for Baby Care Products as Gentle as a Mother’s Touch

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    Today, with all the buzz about eating organic and using organic products, we see a lot of products on the market that claim to be organic and natural. This swing of organic air has not left the baby care segment untouched. To enhance the quality of products in the baby care segment, Ms. Rishu Gandhi launched her brand ‘Mother Sparsh’ in 2016.

    Mother Sparsh is an innovative eco-friendly baby care brand focused on delivering a holistic experience to mothers and babies with their natural, eco-friendly, biodegradable, paraben-free, and chemical-free product offerings. Read more about the Mother Sparsh Company Profile, Founders, Business Model, and more.

    Mother Sparsh – Company Highlights

    Startup Name Mother Sparsh
    Headquarter Chandigarh
    Founder Himanshu Gandhi and Rishu Gandhi
    Sector Baby Care
    Founded 2016
    Parent Organization Mother Sparsh Baby Care Pvt. Ltd.
    Website mothersparsh.com

    Mother Sparsh – About and How it Works?
    Mother Sparsh – Industry
    Mother Sparsh – Founder and Team
    Mother Sparsh – Startup Story
    Mother Sparsh – Logo
    Mother Sparsh – Business Model and Revenue Model
    Mother Sparsh – Shareholding
    Mother Sparsh – Funding and Investors
    Mother Sparsh – Growth
    Mother Sparsh – Startup Challenges
    Mother Sparsh – Competitors
    Mother Sparsh – Future Plans

    Mother Sparsh Brand

    Mother Sparsh – About and How it Works?

    Mother Sparsh has a very diverse and interesting range of products. Mother Sparsh’s products are very skin-friendly and ayurvedic in nature, crafted with the vision to protect a baby’s sensitive skin from all types of problems like redness, rashes, boils, allergies, dryness, and various other problems.

    Mothers always seem to be exchanging notes on the requirement of better products for their babies. Mother Sparsh happily introduced India’s first Kids Cooking Oil with all enriching nutrients such as vitamin D, Omega 3, and Omega 6 for food preparation for kids. Its portfolio of eco-friendly products includes 98% and 99% water-based baby wipes, ayurvedic tummy roll-ons, and natural insect repellents, to name a few.

    Mother Sparsh – Industry

    According to InvestXP, In 2016, India had around 73.3 million babies in the 0–2 year age group and 252.5 million children in the 0–12 year age group. This makes India an important world market for baby and child products. Increasing awareness among parents about baby care and the wide availability of baby care products in India have changed the mindset of people in the country and transformed the demand scenario considerably.

    Furthermore, there is a significant demand for high-quality baby products since most people are staying in nuclear families nowadays and have a single child. Therefore, they are prepared to spend a substantial amount. In the baby food segment, there is rising awareness among parents to fulfill the nutritional requirements of their babies adequately. Parents, primarily among the working-class population, are looking to compensate for the little time spent with their child by giving them the best with respect to their nutritional, hygiene, or lifestyle-related requirements. Furthermore, the increase in disposable income and double income are empowering Indian parents across the middle and upper classes to spend more on baby care products.

    Mother Sparsh – Founder and Team

    Mother Sparsh is founded by Himanshu Gandhi and Rishu Gandhi.

    Mother Sparsh Co-Founder and Ceo Himanshu Gandhi
    Mother Sparsh Co-Founder and Ceo Himanshu Gandhi

    Himanshu Gandhi

    Himanshu Gandhi is the Co-Founder and CEO of Mother Sparsh. He has done his MBA from Fore School of Management, New Delhi.

    Mother Sparsh Co-Founder Rishu Gandhi
    Mother Sparsh Co-Founder Rishu Gandhi

    Rishu Gandhi

    Rishu Gandhi is Co-Founder and Head Brand Strategist at Mother Sparsh. She has a graduation degree in engineering. Before starting Mother Sparsh, she was working as a Java developer at Infosys.

    Mother Sparsh – Startup Story

    Rishu has an interesting story when it comes to starting her entrepreneurial journey. After completing her engineering degree, she joined Infosys as a Java developer. But her passion to become an entrepreneur, especially with her keen interest in researching and learning about consumer behavior with respect to new products and innovations deeply inspired her to research and build her own brand “Mother Sparsh” to help moms with best of products for their babies.

    Rishu originally belongs to a business family and she always wanted to start something of her own. One day, her colleague was complaining about the polyester wipes that resulted in rashes on her child’s skin. That led Rishu to research the baby care products that are available in the market. She thoroughly researched and analyzed the baby care products in the market and found a huge gap in the segment. She realized that there was a dire need for baby care products that were eco-friendly and organic.

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    Mother Sparsh Logo
    Mother Sparsh Logo

    Mother Sparsh – Business Model and Revenue Model

    After suffering from a huge loss, the Mother Sparsh team switched their marketing model and decided to try product sampling. The company provided free samples to target customers and educated them about their products. In the same year, Mother Sparsh was also recognized by market research source researchandmarkets.com as one of the first brands to launch water-based wipes and this rekindled the spirit of entrepreneurship in Rishu.

    Mother Sparsh – Shareholding

    Patterns of Mother Sparsh shareholding as of November 2023, retrieved from resource tracxn:

    Shareholders Name Percentage
    Founder 72.75%
    Enterprise 22.00%
    Other People 5.25%

    Mother Sparsh – Funding and Investors

    Mother Sparsh has raised Rs 33.5 crore to date (November 30, 2023).

    Below are the funding details:

    Date Stage Amount Investor
    Oct 19, 2022 Series B Rs 13.5 crore ITC
    Dec 21, 2021 Series A Rs 20 crore ITC

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    Mother Sparsh – Growth

    In a short span of 2.5 years, the company is selling products worth Rs 40-45 lakh per month through on-counter sales and online orders on Amazon, Flipkart, FirstCry, Paytm, and more. The company records an annual turnover of Rs 3.5 crore. Mother Sparsh had a turnover of Rs 15.44 crore in the financial year 2020-21.

    Mother Sparsh – Startup Challenges

    Being a woman entrepreneur in India is not easy In the beginning, Rishu faced challenges like lack of access to Adequate Funding, Limited Scope of Mobility, Inadequate Practical Experience, Balancing business & family life.

    I overcame all the challenges with the help of my family support, confidence, getting exposed to the right set of experiences and my will power. If you have the courage to have your own enterprise, you certainly have the potential to make it work and reach the heights that you had dreamt for. Keep faith in yourself and your smart work is sure to daze everyone around you – says Rishu Gandhi

    Rishu focuses on the eco-friendly & biodegradable roots, and does not believe in indulging in chemicals for a bit more sales.

    Mother Sparsh – Competitors

    Mother Sparsh is a brand in such a dynamic industry that faces competition from multinational companies like Johnson & Johnson, Himalaya Baby Care, Mamaearth, Pigeon, and Mothercare to name a few. Though all these brands operate in a perfectly competitive market, indirectly they do overlap with each other because of catering to the same target audience.

    Mother Sparsh – Future Plans

    In the near future, Mother Sparsh is looking forward to launching a series of baby care products that are sure to provide relief to mothers and their babies with eco-friendly and biodegradable advantages. The company plans on launching and including more variants in the baby wipes category with varieties like baby wipes for sensitive skin with bamboo fabric. Moreover, there are also plans to also provide more options in terms of packet sizes.

    FAQs

    Who is the owner of Mother Sparsh?

    Himanshu Gandhi and Rishu Gandhi are the owners of Mother Sparsh.

    When was Mother Sparsh founded?

    Mother Sparsh was founded in 2016.

    What is the turnover of Mother Sparsh?

    Mother Sparsh recorded a turnover of Rs 15.44 crore in the financial year 2020-21.

    What products does Mother Sparsh brand has?

    Mother Sparsh brand provides baby care and mother care products.

  • How RBI’s Risk Weight Adjustment Affects Banks, NBFCs, and Fintechs

    In an effort to control the unchecked expansion of unsecured consumer lending, the Reserve Bank of India (RBI) recently issued a notification. The directive increases the risk weight for consumer credit exposure of banks and non-banking financial companies (NBFCs), potentially impacting fintech players. Industry experts suggest that these lending institutions will now need to allocate more capital to be set aside against the unsecured loans they disburse.

    The RBI’s measure involves a 25-percentage-point increase in the risk weightage for both existing and new unsecured consumer credit exposure of commercial banks and NBFCs, elevating it from 100% to 125%. While the industry players appreciate the move for its risk mitigation aspects, concerns have been raised about the potential decline in loan growth. In essence, this adjustment is expected to drive up the lending costs for unsecured consumer loans.

    The RBI has expressed concerns about the escalating trend in unsecured consumer loans, specifically personal and credit card loans. With the latest circular instructing banks and NBFCs to heighten risk weights on such loans and restrict exposure, the RBI aims to curb the rapid growth in this segment.

    According to RBI data, personal loans witnessed a 23% growth in August 2023, and credit card outstanding increased by 30%, compared to the figures from August 2022.

    The higher risk weights entail that banks and NBFCs must allocate more capital for each loan they extend. In simple terms, this measure safeguards against potential issues if borrowers fail to repay their loans, preventing banks from encountering financial trouble. Lenders are now required to adhere to set limits on exposure to various segments of consumer credit as approved by their boards. Additionally, top-up loans backed by depreciating assets, such as car loans, will now be categorized as unsecured loans.

    “RBI’s recent move to strengthen regulations on consumer lending, particularly in personal loans, is a positive step towards risk reduction. In response, our partners have already implemented more stringent underwriting criteria over the last 30 days to ensure loan quality. It’s anticipated that this RBI initiative will contribute to a decline in loan growth, aligning to curb excesses in the NBFC space,” commented Manish Shara, Co-founder & CEO of Zet.

    Following global standards, a 100% risk weightage implies that INR 92 out of every INR 100 loan originates from depositors’ money, while INR 8 comes from shareholders’ investment. With the recent 25-percentage-point increase, banks and NBFCs will now need to source INR 10 from shareholders’ investments. This adjustment is expected to impact companies like Paytm, CRED, Navi Finserv, OnEMi Technologies (which operates Kissht and RING), along with several consumer-focused fintechs such as Freo, Fibe, Kreditbee, Paytm, and CRED, considering their substantial share in the number of loans disbursed.

    Offering insight into the central bank’s move, Rishabh Goel, Co-founder and CEO of Credgenics, stated, The current rise in risk weight assessment is likely to result in a marginal increase in loan pricing by banks. This serves as a signal urging lenders to exercise caution, especially in the small-ticket loans segment.

    Priyanka Chopra, COO, and managing partner for seed investing at IIMA-CIIE, predicted that this move would lead to a moderation of unsecured credit for digital lending startups. However, she noted that established players with a robust capital base and calibrated underwriting are expected to experience minimal impact.

    The RBI’s decision was driven by the necessity to control the growth in unsecured loans. Last month, RBI governor Shaktikanta Das emphasized the high growth in certain components of consumer credit, advising banks and NBFCs to enhance internal surveillance mechanisms, address risk build-up, and institute suitable safeguards. The notification also introduced changes to the risk weight of credit card receivables of scheduled commercial banks and bank credit to NBFCs to address potential risk build-up. Furthermore, the RBI stated that all top-up loans against movable assets with inherent depreciation, such as vehicles, must be treated as unsecured loans for credit appraisal, prudential limits, and exposure purposes.

    Jaya Vaidhyanathan, CEO of BCT Digital, expressed her support for the RBI’s decision, affirming, “The move to increase risk weights for personal loans is a constructive step, aligning with the central bank’s concerns regarding aggressive lending in the unsecured consumer loans sector. While the overall financial impact of defaults in this category may not be considerable, the sheer volume of individuals drawn to effortless credit for non-essential purposes like electronic gadgets is substantial. This initiative will deter lenders who may have previously adopted lax practices in loan assessment, reminiscent of historical incidents in 2008 involving credit card and personal loan mismanagement.”

    The latest sectoral credit growth data from the Reserve Bank of India (RBI) reveals that Indian banks are aggressively expanding their personal loan portfolio, with credit to the segment growing by 30.8%, compared to 19.4% on a year-on-year basis. Fintech firms have sanctioned almost ₹30,000 crore for consumption loans—personal loans, consumer durable loans, vehicle loans between 2015 and 2022—compared to less than ₹5,000 crore disbursed for business loans during the same period, as reported by the RBI-backed Centre for Advanced Financial Research and Learning (CAFRAL).

    There Is Currently No Imminent Effect on Interest Rates
    Is the Era of Easily Accessible Credit Coming to an End?
    Impact on Credit Cards

    There Is Currently No Imminent Effect on Interest Rates

    There is no immediate anticipation of an impact on interest rates, according to Shibani Kurian, Senior Executive Vice-President & Head of Equity Research at Kotak Mutual Fund. While the augmented risk weights are likely to influence growth in specific segments, large banks and NBFCs are currently well-capitalized, surpassing regulatory requirements. Therefore, raising capital immediately may not be necessary due to the increased risk weights. Banks are expected to assess the impact and decide whether any cost increases need to be passed on to customers. Corporate trainer (Financial Markets) Joydeep Sen concurs, emphasizing that while there might not be an immediate effect on banks’ costs, they are likely to adopt a more cautious approach in the long run.

    Naresh Malhotra, a former SBI executive and current Director at JCRC LLP, an accounting firm, emphasizes that NBFCs are more likely to bear the brunt of the impact, facing increased funding costs. As NBFCs borrow from banks to lend to customers, the rise in risk weights will elevate their borrowing costs from banks or through bond issuance. The final impact will be contingent on the resource mix and the proportion of unsecured consumer loans in an NBFC’s overall portfolio. Regarding commercial banks, Malhotra notes that although their unsecured loan portfolio has grown at a rate exceeding the general credit growth rate, their exposure to this segment is more effectively hedged than that of NBFCs. However, he acknowledges that higher capital outlay will also affect commercial banks.

    The RBI’s decision to elevate risk weights on unsecured consumer credit, including personal loans, from 100 percent to 125 percent for both banks and NBFCs, has implications for the lending landscape. Additionally, the risk weights for credit card receivables have been revised from 125 percent to 150 percent for banks and from 100 percent to 125 percent for NBFCs.

    Is the Era of Easily Accessible Credit Coming to an End?

    The era of easily accessible credit might be coming to an end from the borrower’s standpoint. Ritesh Srivastava, Founder and CEO of FREED, a debt relief platform, notes a noticeable shift among lenders, who have become more cautious and stringent in approving new loan applications. The approval rates for new loans currently hover around 4 to 5 percent, a significant drop from the peak of the cycle when they ranged from 8 to 12 percent.

    Malhotra emphasizes that the RBI is concerned about the rapid expansion of unsecured credit, prompting the central bank to raise the cost of lending for both banks and NBFCs. The intention is clear—to decelerate the pace of this growth. Kurian echoes this sentiment, pointing out that the heightened capital requirements will gradually ease the competitive fervor in the consumer credit sector, where banks, NBFCs, and fintechs in collaboration with regulated entities have been striving to attract more customers.

    Sen provides an additional perspective, stating that in unsecured loans, banks can compensate for delinquencies due to the higher interest rates. However, the consequence of elevated rates is that those diligently repaying their credit card dues end up covering for those who do not—a concept known as “good money for bad money.” This underscores the need for more thorough due diligence, and the increased risk weights will contribute to achieving this.

    This shift could be advantageous for individuals with a steady income and strong credit scores. On the flip side, those with irregular incomes and lower credit scores may encounter greater difficulty in securing loans. Adhil Shetty, CEO of BankBazaar.com, explains that for ideal borrowers—those with stable income, a credit score above 750, and a history of timely payments—there should be no impact on existing or new credit lines. Lenders are likely to favor such borrowers, while individuals outside these criteria may find it more challenging to secure loans, a trend that has historically held true.

    Impact on Credit Cards

    Industry experts we consulted do not foresee any immediate consequences, such as a reduction in credit card limits or higher interest rates, affecting credit cards.

    Malhotra emphasizes that the larger source of risk lies in outstanding credit card balances that remain unpaid even after the due date, warranting more attention. Kurian provides additional insight into this matter. Despite the rapid growth in credit card spending, she notes that there has been no deterioration in delinquency. “Revolve rates” (indicating the amount of outstanding credit card balance that remains unpaid) are currently lower than pre-Covid levels. Consequently, banks face no immediate asset quality concerns, making an immediate reduction in credit card limits unlikely. However, in the future, financial institutions may shift their focus to customers with better credit profiles, potentially slowing down the previously rapid growth. Srivastava suggests that existing credit card customers who only make minimum payments may encounter tighter credit limits and possibly a downward revision in limits upon renewals.

    On a positive note, Naveen Kukreja, Co-Founder and CEO of Paisabazaar, believes that for lenders with sufficient capital and effective risk management, credit cards and unsecured loans will remain highly profitable segments and continue to be focal points.

    Fintech firms anticipate that the effects of the Reserve Bank of India’s directive will become evident within six to twelve months, compelling them to broaden and fortify their secured portfolio. Fintech companies that acquire funds from banks or non-banking financial companies (NBFCs) are swiftly working on expanding their secured portfolio to constitute a minimum of 40 percent of their overall portfolio.

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  • What Is Amazon Vine, and How Can You Get Free Products From It?

    Have you ever thought of writing a review on Amazon? Or do you think that you will not gain anything from a simple Amazon review? You are on the right page if your mind is filled with such queries. Since 2007, Amazon has had a program set for you that will make you think twice.

    It is known mainly as Amazon’s Vine Program, which is comprised of a group of intricately screened reviewers who can earn products for free in return for leaving honest reviews!

    Although Amazon does not reveal much about the reviewers’ screening process, there are a few salient guidelines you can follow to try becoming one of those lucky ones who can earn a free prize or an incentive.

    Overview of Amazon Vine
    What Should You Understand Before Enrolling in Amazon Vine
    Enrolling Process on Amazon Vine Program
    The Cost Involved in Enrolling Into Amazon Vine
    Tips to Become a Top Amazon Vine Reviewer
    Pros and Cons of Amazon Vine for Sellers

    Overview of Amazon Vine

    Amazon Vine is a program based on product review structures specifically to encourage shoppers to leave unbiased, honest reviews and get rewarded with free Amazon products. But Amazon is highly scrupulous, and they pick as their elite reviewer.

    The reviewers on Amazon Vine or the alias Vine Voices get selected upon invites and act as highly trusted Amazon reviewers. The Vine Voices are picked exclusively based on how their reviews are ranked, which measures the usefulness and quality of their reviews gauged by Amazon customers. Sellers can use this program to attain reviews for their products, and as a buyer, you can earn free merchandise from Amazon.

    Earlier, the Vine members used to earn monthly newsletters that featured books and other products they selected to offer reviews on. These products are valued at a range from a couple of dollars to as much as $1000. Now, these reviewers have access to the rolling item lists they are privileged to order.

    As noted by NPR, Vine members can never sell or give away items they receive from this program, and Amazon can also ask for a return, although they refrain from doing so.

    How Amazon Vine Helps Sellers
    How Amazon Vine Helps Sellers

    What Should You Understand Before Enrolling in Amazon Vine?

    Amazon Vine has the most potential to solicit reviews for new products; however, there is a greater risk associated, which you should consider before enrolling in this program.

    Vine Voices must stay insightful and unbiased, implying that their reviews are more intricate and filled with details than a normal review left by an Amazon-verified customer.

    As an Amazon Vine Voice, you might even add videos and photos to your reviews; staying positioned is great. However, there are instances where Vine Voices leaves negative reviews, and a Vine reviewer will surely notice and write regarding anything bad or a defect in the product.

    It is more likely to get various detailed, negative reviews for any new product since the reviews on Vine cannot be changed or removed unless they violate the terms and conditions of Amazon.

    It is bad news for a seller since it would affect the conversion rate and place their ASIN at a major disadvantage. Nothing is better than any bad reviews on Amazon.

    Enroll only the best ASINs in the program to mitigate the risk of the negative reviews left by Vine Voices. Refrain from products subjective to qualities like flavors or aromas.

    Just because you consider that your handcrafted candle will smell exotic does not mean that the reviewer from the Vine Program will agree to it.

    Before selecting any product for Vine, ensure that you conduct your own research for product analysis to fetch an idea of how the customers might respond. Then, make use of your best intentions. If any buyer on Amazon complains about the same product, there is a greater chance that Vine Voices will leave a negative review.

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    Enrolling Process on Amazon Vine Program

    Tips for getting selected for Amazon Voice Program
    Tips for Getting Selected for the Amazon Vine Voice Program

    Getting An Invite

    So, do you wonder about the process or the steps involved in becoming a highly trusted reviewer on Amazon? Amazon will contact you if they consider you the best fit for this program; however, the company offers guidance on what it searches for in a Vine Voice.

    Amazon’s primary focus was the quality instead of the review quantity left. You will not benefit by leaving a single line or a one-word review. Even if you are creative in your reviews, Amazon does not guarantee that you will be picked into their Vine program.

    The following are the main guidelines for the Amazon Vine Program:

    • The reviewer’s ranking is solely based on the comprehensive assistance of the reviews while reckoning the number of reviews left.
    • Demonstrating one’s expertise in a single, distinctive category of products.
    • Reviews left recently gain weight while rankings get updated every couple of days.
    • A likeness in products identical to the ones you are enrolling for in this Vine program.

    Unfortunately, there is no way to know which products you will enroll in, although a fondness towards a product is the main thing to get enrolled, and the main route is through invites.

    All we could infer is that the vendors are paying to get their products listed, a reality that Amazon initially refrains from disclosing. It was the main reason this program attained adverse coverage in the past.

    Enrolling Through Votes

    Ensure you are refraining from leaving short and simple reviews if you wish to get noticed by Amazon and enroll under Vine Voices. Do not complain about products or anything mentioned under the product description. Rethink the questions you would have asked yourself before placing orders for $200 worth of gadgets you knew you never required.

    Amazon is most likely to scrub through thousands of reviews left on the available products on their site and check how these reviews are being taken by their valuable customers. Reviewers with consistent feedback are marked as helpful and have higher chances of getting invited to this program.

    Following a Single Category

    It is the other criteria that Amazon searches for as they scrub through your expertise and interest in a specific category of products.

    A few unreliable proofs showcase that getting stuck under a single category and becoming a helpful and recognized professional in this niche offers you better chances of becoming a member of the Vine program.

    No Clear Instructions From Amazon

    Amazon refrains from disclosing valuable information on how you can make informed decisions.

    For instance, we discovered that there are Vine Voices who received more than 4,000 helpful votes for their reviews. A couple of Hall of Famers earned over 88,000 votes; however, they did not get a chance to become a part of this program.

    There is no computation into action to get enrolled in the Amazon Vine Program. One of the Vine Voices posted on Quora that they received the invite through over 300 helpful votes and left over 30 reviews. Along with these numbers, the Vine Voice even mentioned that it relies mainly on the categories Amazon plans to add under the new Vine Voices. In short, Amazon does not guarantee you anything!

    One massive piece of information involves Amazon not disclosing how often they invite users to join the Vine Voice Program. Therefore, Amazon has never been clear regarding its recruitment process. So, if you aim to get considered, you just have to keep working towards it.

    How to Join Amazon Vine

    The Cost Involved in Enrolling Into Amazon Vine

    Each parent ASIN needs to pay $200 to join the Amazon Vine Program. Earlier, this program was free of cost; however, they started charging for their services on 12th October 2021. However, you should know that you will not receive an Amazon Vine invoice until your first review is published.

    There is good news here: if you are underage or a child, then the ASINs need not pay anything!

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    Tips to Become a Top Amazon Vine Reviewer

    Becoming an Amazon Vine Voice is never easy, as you should stay consistent in leaving thorough and complete reviews across varied product categories. The minimum number of reviews you should publish to become eligible for this program is 100, as we deduced from the list of the top reviewers on Amazon.

    You will also get access to the rolling list of products you can order for free at your feasible time as a Vine Voice. The catchy part here is that you are not obligated to leave reviews; if you decide to leave a negative review, you stay protected from Amazon’s retaliation.

    Sadly, there is no strict method or formula to follow to get an invite into this program. However, you have a higher chance of enrolling in this program if you leave an insightful and detailed review of the products you purchase on Amazon.

    What Amazon cares about is the quality and not the quantity, and the following are a few guidelines for the kind of reviews you should leave to enroll in this program:

    • Refrain from leaving a single-liner or a one-word review, as the number of reviews you leave never matters as long they prove helpful.
    • Always leave detailed reviews on the specific categories of products. You have a higher chance of getting picked as a Vine Voice when aiming at a specific category and demonstrating your expertise in this distinctive domain.
    • Make sure to leave a review daily, as Amazon gives more attention to consistent and regular reviews.
    • Ensure you are not complaining about any product features mentioned clearly under the product description. For instance, do not complain about product size if the dimensions are mentioned clearly.
    • Although the real algorithm to enroll in the Vine Program is still unknown, the reviewers with consistent reviews have greater chances of getting upvoted and earning invites to this program.

    You should know the implications of taxes for the free merchandise you will earn as an Amazon Vine Voice. If you earn a free product worth more than $600, you might have to pay some tax based on the product value.

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    Pros and Cons of Amazon Vine for Sellers

    Comparing Amazon Vine to other review methods, it has its pros. But, like any strategy, there are cons too. Let’s break down the good and the not-so-good of the Amazon Vine program to help you decide if it’s the right fit:

    Pros:

    • Amplified Review Potential: Amazon Vine allows sellers to garner up to 30 reviews, although there’s no assurance as some Voices may opt not to contribute.
    • In-Depth, Top-Quality Reviews: Chosen for their reviewer rank, Vine Voices provides meticulously crafted reviews, often featuring pros and cons lists, alongside customer images/videos.
    • Boosts Credibility: Amazon Vine reviews enhance your product’s credibility, as they come from reputable Voices recognized by Amazon. This added trust factor can significantly impact potential buyers’ confidence in your product.
    • Practical Product Insights: Vine Voices meticulously analyzes every aspect of the product, offering potential customers comprehensive details and actionable feedback crucial to their purchasing decisions.
    • Catapults Traffic and Conversions: The influential reviews from Vine Voices play a pivotal role in driving sales and conversions, propelling your product’s overall best-seller rankings, and generating momentum in the marketplace.

    Cons:

    • Uncertain Review Outcome: Reviews, whether positive or not, are not guaranteed through Amazon Vine. While Vine Voices provides detailed insights, sellers have no control over the reviewer’s sentiment, and contacting them is not an option.
    • Exclusive to Brand Registered Sellers: Participation in the Vine program is restricted to brand-registered sellers. This exclusivity can benefit brand-registered sellers, providing a competitive edge if their competitors are not yet brand-registered.
    • Enrollment Costs: Sellers need to consider the financial aspect, as enrolling in Vine comes with a fee ranging from $75 to $200 for each parent ASIN. The decision to enroll should be weighed against the potential benefits to determine its overall worth.
    • Limited Number of Parent ASINs: Sellers should be mindful of the limitation on the number of parent ASINs they can enroll, as this can impact the scope of the Vine program for their products.

    Conclusion

    After you get enrolled and accepted under the Vine Voice Program, you must follow the guidelines Amazon sets. You get restricted to two products at a time and should write and post reviews of the products you received before requesting more items. Ensure to leave a review within a month from the day the product is delivered.

    You have to pick products that you know about or are interested in. Never feel pressured to pick something to leave a review. You can skip a few months if you do not need a product. In the context of the ‘Amazon Vine program India’, the same principles apply, allowing reviewers to select products they are knowledgeable about or interested in, emphasizing a voluntary approach and the flexibility to skip months when a product isn’t needed.

    Remember that Amazon closely watches the active participation of the Vine Voices reviews. The best reviewers associate with Amazon under this program and can enroll easily.

    FAQs

    What is Amazon Vine program?

    The Amazon Vine program is an invitation-only program that helps customers make informed purchasing decisions by giving them early access to new and unreleased products from Amazon’s vendors and sellers.

    Does Amazon still have Vine?

    Yes, the Amazon Vine program is still live, and Amazon does invite people from time to time.

    How many items can I order from Amazon Vine?

    Once selected for Amazon Vine, you can order two items simultaneously.

    How to join the Amazon Vine program?

    It is an invitation-only program. Customers who consistently write insightful reviews and have a high reviewer rank will most likely be invited.

    Is the Amazon Vine Program available in India?

    Yes, Amazon’s Vine India program is available, and it is an invite-only program.

    What are the other alternatives to get trusted reviews on Amazon?

    The other alternatives to get trusted reviews on Amazon are:

    • Amazon Early Reviewer Program
    • Automate your reviews with Emails
    • SellerApp review request tool

  • Global Entrepreneurs Embrace Podcasts to Amplify Brands and Networks

    The surge in podcast popularity has led entrepreneurs to integrate them into marketing strategies for audience connection, brand personalization, and business growth. However, launching a podcast demands meticulous planning and dedication, diverting valuable time and effort from core business operations. A genuine passion to champion issues and deliver value to the audience becomes pivotal for a podcast to align with a company’s marketing goals and reap substantial benefits.

    Crafting a personal brand has become a compelling pursuit for business leaders, as exemplified by Shantanu Deshpande, whose focus on simplifying entrepreneurship through his show enhances the brand equity of Bombay Shaving Company. Drawing parallels with Tesla enthusiasts gravitating towards Elon Musk, he highlights the consumer’s inclination to connect with founders. Angel Investor and Business Strategist Lloyd Mathias emphasizes the modern founder’s awareness of personal branding, recognizing its positive impact on startup valuations and product popularity in the era of shows like Shark Tank.

    In response to the evolving landscape, entrepreneur Sharma launched Duologues during the pandemic, addressing a need for motivational content for young professionals. With nearly 20 episodes featuring leaders sharing their life stories and challenges, the initiative aims to foster a healthy social and online presence. This sentiment is echoed by business and brand strategy specialist Harish Bijoor, who deems personal branding crucial to stand out amid the startup ecosystem’s clutter. Podcasts, talk shows, industry events, and insightful writings constitute the toolkit for effective personal branding.

    The pursuit of visibility extends to popular digital platforms, where startup CEOs, primarily focused on sales and funding, leverage personal branding and thought leadership as welcome side effects, according to Jessie Paul, CEO of Paul Writer. In this intricate dance of entrepreneurship, personal branding emerges not only as a strategic necessity but as a means to transcend the clutter and leave an indelible mark on the dynamic startup landscape.

    Indian entrepreneurs are increasingly utilizing podcasts as a strategic tool to establish their brand presence and expand their enterprises. India, boasting a monthly listenership of 57.6 million, has secured its position as the third-largest podcast market globally, following China and the United States.

    Number of Podcast Listeners from 2019 to 2024

    Founders Siddhartha Ahluwalia and Nansi Mishra, creators of the ‘100x Entrepreneur podcast,’ transitioned their podcast success into the establishment of their investment fund. Notably, Zerodha co-founder Nikhil Kamath and Curefit founder Mukesh Bansal have also ventured into podcasting to share insights on business and life.

    The inception of the ‘100x Entrepreneur podcast’ (now ‘The Neon Show’) in 2018 by Siddhartha Ahluwalia and Nansi Mishra aimed to guide emerging entrepreneurs through the intricacies of the startup ecosystem. In 2020, the duo launched the Neon Fund, named after their podcast, attributing their success to the connections forged with investors and startup leaders featured on the podcast.

    Ahluwalia emphasized, “Guests often become interested in what you are doing and are ready to invest with you,” showcasing the networking benefits of a successful podcast. This trend of entrepreneurs leveraging podcasts for brand building and business growth is not exclusive to India.

    Jivraj Singh Sachar, host of ‘Indian Silicon Valley,’ follows a similar path, utilizing his podcast to connect with startup founders and subsequently making investments. Sachar acknowledges the expedited journey into investing, attributing it to the connections established through his podcast.

    Podcasts by entrepreneurs extend beyond business discussions. Mukesh Bansal, founder of Curefit, recently launched ‘SparX,’ a podcast offering advice on diverse topics, including careers and relationships. The content varies, from business lessons rooted in ancient mythology to conversations with renowned personalities like Rahul Dravid on the science of focus.

    Tom Fairey, co-founder of the gaming app Stakester, headquartered in London, utilized ‘The Back Yourself Show’ to connect with investors, showcasing the global adoption of this trend. Recently, Nikhil Kamath of Zerodha introduced ‘WTF is,’ a podcast featuring successful business personalities discussing their journeys, including notable figures like Kiran Mazumdar Shaw and Suniel Shetty.

    Sajith Pai, an investment partner at Blume Ventures, recommends startups to start their own podcasts as a networking and growth strategy. Podcasts, he believes, help founders build relationships with customers, fostering growth and fundraising.

    Ahluwalia highlights that Indian entrepreneurs are recognizing the importance of controlling their narratives through podcasts.

    Listeners find value in these shows, ranging from technical insights for professionals like Vedant Mishra to life lessons from experts, as expressed by Divyansh Mehta, a postgrad student at Delhi University. The surge in podcast popularity among Indian entrepreneurs reflects a broader trend in the global landscape, where podcasts have become integral not only to daily commutes but also to shaping the narrative of entrepreneurial success.

    In the realm of recruitment, Talentful, a disruptive tech industry recruitment subscription service, embraced the podcast medium with “Hiring On All Cylinders.” It explores topics like remote working and strategic planning, redefining talent acquisition’s role in organizational leadership. CEO Chris Abbass acknowledges the challenge of securing guests but emphasizes the importance of aligning guests with podcast themes for audience engagement. For aspiring podcasters, Abbass recommends building a support network to share the workload effectively.

    DagsHub, a platform for data scientists to collaborate on machine learning projects, ventured into podcasting with “The MLOps Podcast.” CEO Dean Pleban stresses the importance of creating content that adds value to the community. Overcoming challenges in guest acquisition and scheduling, Pleban notes the podcast’s positive impact on Dagshub’s brand recognition and industry connections.

    Sport BUFF’s podcast, “Ahead of the Game,” not only features industry faces but serves as a promotional vehicle for the gamification specialist. Founder Benn Achilleas highlights the podcast’s role in validating its innovative solution, providing exposure, and generating leads. Despite challenges like resource constraints, the podcast contributes valuable content across various platforms.

    Tom Fairey, founder of Stakester, strategically launched “The Back Yourself Show” not to directly grow his gaming startup but to connect with investors. This networking approach proved fruitful, with Stakester raising over £6 million and leveraging the podcast for credibility and network building within the community. Overall, these entrepreneurial journeys illustrate the multifaceted impact of podcasts beyond marketing, extending into recruitment, community engagement, brand validation, and investment attraction.

    The Allure of Audio: Podcasts as a Strategic Marketing Tool

    Key Considerations for Successful Podcasting

    The Allure of Audio: Podcasts as a Strategic Marketing Tool

    Podcasts seamlessly integrate into people’s lives, providing an engaging avenue for content consumption during activities like commuting, exercising, or daily routines. This medium offers a dynamic platform for entrepreneurs to:

    Cultivate Thought Leadership

    By sharing industry insights, expertise, and personal experiences, entrepreneurs can position themselves as thought leaders. This not only imparts valuable knowledge but also builds trust and credibility among their target audience.

    Infuse Personalization into Brand Narratives

    Podcasts provide a unique opportunity for entrepreneurs to connect with their audience on a personal level. The conversational tone fosters intimacy, creating a relatable atmosphere that significantly enhances brand perception.

    Facilitate Audience Engagement

    Unlike conventional marketing channels, podcasts enable two-way communication. This interactive nature allows for meaningful discussions and feedback loops, resulting in a deeper level of audience engagement.

    Extend Reach and Visibility

    Podcast distribution across various platforms, including streaming services, social media, and websites, empowers entrepreneurs to transcend geographical constraints. This broad reach goes beyond immediate markets, enhancing overall visibility.

    Drive Lead Generation and Relationship Nurturing

    Podcasts become a versatile tool for showcasing products or services, attracting potential customers, and nurturing relationships with existing clients. The auditory experience lends itself to effective storytelling, making it a compelling avenue for brand promotion.

    In this era of auditory exploration, podcasts emerge not just as a trend but as a strategic ally for entrepreneurs looking to resonate with a dynamic audience and carve their niche in the evolving realms of content consumption.

    How podcasts became so popular

    Key Considerations for Successful Podcasting

    Crafting a successful podcast requires meticulous planning and strategic execution. Entrepreneurs venturing into this dynamic realm should consider several key factors to ensure optimal results.

    Define Clear Objectives

    Start by articulating the podcast’s goals. Whether aiming for enhanced brand awareness, lead generation, or establishing thought leadership, a clear understanding of the podcast’s purpose is crucial.

    Identify Your Target Audience

    Delve into the intricacies of your target audience. Comprehend their interests, demographics, and listening habits. This insight enables tailoring content that resonates authentically with their preferences.

    Create High-Quality Content

    Elevate your podcast by delivering content that is not only engaging but also informative. Strive to offer genuine value to your listeners, fostering a connection that transcends the digital realm.

    Consistency is Key

    Establish a reliable publishing schedule. Consistency ensures sustained audience engagement, prompting listeners to anticipate and return for each episode.

    Promote Your Podcast

    Effectively market your podcast using diverse channels such as social media and email marketing. Building a dedicated listenership is as pivotal as the quality of the content itself.

    By carefully considering these factors, entrepreneurs can navigate the podcasting landscape with finesse, unlocking its potential to amplify brand presence and achieve overarching business objectives.

    Podcasts have emerged as an indispensable tool for entrepreneurs seeking to connect with their audience, personalize their brand, and drive business growth. By leveraging the power of audio storytelling, entrepreneurs can effectively engage their target market, establish thought leadership, and achieve their business objectives. As the podcast landscape continues to evolve, entrepreneurs are well-positioned to harness the power of audio to drive their businesses forward and achieve sustainable success.

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    FAQs

    What are the key factors to consider for successful podcasting?

    There are several key factors to consider for successful podcasting such as defining clear objectives, identifying a target audience, being consistent, generating quality content, and promoting the podcast on diverse channels.

    What are the leading three countries in the podcast market?

    India, boasting a monthly listenership of 57.6 million, has secured its position as the third-largest podcast market globally, following China and the United States.

  • From Tiffin to Table, Cello World’s Chairman Pradeep Rathod’s Journey

    At the age of 59, Cello World’s Managing Director and Chairman Pradeep Rathod became the newest billionaire in India.

    Cello World, a Mumbai-based firm, is the latest member of the country’s billionaires club. It produces a range of kitchenware, from snack boxes and water bottles to storage containers and plastic furniture. Cello World sells stationery, pencils, and molded furniture in addition to cookware, which makes up more than two-thirds of its total revenue.

    The business went public recently. Cello World’s IPO price of Rs 648 was 28% higher than the price at which their shares were listed, and the issue was 39 times oversubscribed.

    Pradeep Rathod – Biography

    Name Pradeep Rathod
    Age 59
    Nationality Indian
    Position Managing Director & Chairman, Cello World
    Net Worth $1.6 billion

    Pradeep Rathod – Personal Life
    Pradeep Rathod – Early Life
    Pradeep Rathod – Career
    Pradeep Rathod – Journey So Far
    Pradeep Rathod – Philanthropy
    Pradeep Rathod – Awards and Recognitions

    Pradeep Rathod – Personal Life

    Rathod is a seasoned expert with more than 40 years of manufacturing and trade expertise in raw materials, plastic, and thermoware products. Since the beginning, he has played a key role as a Director in Cello World. Gaurav Rathod, Pradeep Rathod’s son, and Pankaj Rathod, Pradeep Rathod’s younger brother, are both managing directors in the company. The Rathods are major shareholders of Wim Plast Ltd, a BSE-listed firm best known for its Cello-branded plastic furniture.

    Pradeep Rathod – Early Life

    Cello World began in 1962, when Pradeep’s late father, Ghisulal Rathod, partnered with a small maker of plastic items. Building on this foundation, Pradeep and his 56-year-old younger brother Pankaj Rathod, who serves as the company’s joint managing director, have expanded into new product categories. 

    Pradeep’s son, Gaurav, who received his education in the United Kingdom, plays an important role as joint managing director, contributing to Cello World’s continuous growth. 

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    Pradeep Rathod – Career

    According to Forbes, Pradeep’s $ 44% stake in Cello World is worth $1 billion. 

    Cello World, based in Mumbai, has grown into a well-known supplier of kitchenware, with a diverse product line that includes snack boxes, water bottles, storage containers, and plastic furniture. 

    The company’s product line also includes plastic, glass, and porcelain goods, resulting in a 70% increase in sales.

    Cello World, which manufactures consumer housewares, devices for writing, and molded furniture, was compelled to boost the IPO size to Rs 1,900 crores from the Rs 1,750 crores suggested in the offer document submitted with the SEBI in August of this year. The issue is a comprehensive offer for sale (OFS) of shares by the promoters and other selling shareholders, which implies the money will not go to the firm, instead, it will go to the current owners.

    Rathod explained why the IPO size was increased, saying, There was a lot of demand, so we had to scale it up a little bit. We are just selling 13.82% of our investment, not the whole stake.

    He also stated that Cello World is a B2C firm and that the brand would grow and expand if its shares were listed on public exchanges.

    Rathod stated that the company gets 65% of its sales from the consumer houseware division, 18% from molded furniture, and roughly 16% from writing instruments.

    Cello World has reserved up to 50% of the shares in the public offering for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% for retail investors, according to the offer document filed with the SEBI. Under the employee reserve part, the business has reserved shares worth 10 crore for qualified workers, which will be issued at a discount of Rs 61 per equity share.

    Cello’s consolidated revenue increased 32.19% to Rs 1,796.69 crore in fiscal year 2023, from Rs 1,359.18 crore the previous year. From Rs 219.52 crore in fiscal 2022 to Rs 285 crore in fiscal 2023, net profit increased by 29.86%.

    2023 2022 Percentage Increase
    Consolidated Revenue Rs 1796.69 crore Rs 1359.18 crore 32.19%
    Net Profit Rs 285 Crore Rs 219.52 crore 29.86%

    Pradeep Rathod – Journey So Far

    Cello World is a company that manufactures a variety of home items. Understanding the everyday demands of the Indian family, Cello offers a diverse product line that includes melmoware, therm-oware, opal ware, kitchen appliances, glassware, melamine ware, automotive tools and dies, cleaning equipment, and air conditioners. With significant technological improvement, Cello has driven the transformation of the Indian home industry.

    Plastic housewares goods were introduced by the firm in the 1980s. Cello entered the furniture market in the 1990s, and in 2017, Gaurav, who had joined the company seven years prior, introduced the ‘opalware’ section.

    From seven machines and 60 employees, the firm now employs over 6,000 people and operates plants in Haridwar, Kolkata, Chennai, Daman, Pardi, and Baddi. Furthermore, the company’s well-known pen and stationery business was sold to the French company BIC in 2013.

    Cello World sells pens, stationery, and molded furniture in addition to its signature kitchenware section, which accounts for roughly two-thirds of total revenue. 

    The category currently accounts for 18% of total revenue.

    Cello World shares, which sell kitchenware under the Cello name, debuted at a 28% premium to their IPO price of Rs 648, and the offering was 39 times oversubscribed.

    It is predicted to expand even faster, at a compounded annual rate of 10.2%, reaching Rs 565 billion ($6.8 billion) by fiscal 2027, as Indians renovate their kitchens and stock them with modern items. 

    The firm hopes to capitalize on rising local demand for plastic furniture, which is estimated to reach Rs 270 billion ($3.3 billion) by fiscal 2027, up from Rs 122 billion ($1.5 billion) in fiscal 2022.

    Cello World’s revenues have increased by 70% in the last two years. In the fiscal year that ended in March 2023, the firm earned Rs 17.97 billion. Over that time, net profit climbed by 58% to Rs 2.8 billion.

    Revenue Can Grow At 30% CAGR Over Next Two Years: Cello World

    Pradeep Rathod – Philanthropy

    Rathod, in addition to his commercial success, is involved in charitable organizations and serves as President of the JITO Administrative Training Foundation.

    Pradeep Rathod – Awards and Recognitions

    Known as one of the world’s most prominent plastics manufacturers and India’s indisputable market leader, Cello is a globally recognized brand known for its vitality and spirit of innovation. Cello is continually striving to bring in the latest and greatest technology to set new quality benchmarks and to develop to carve new trails in the industry.

    Awarded the renowned PLEXCONCIL AWARD 18 times in a row for NO.1 exceptional performance.

    The Cello Group, which manufactures India’s favorite Cello pens, is worth Rs.1000 crore. 

    FAQs

    Who is the Chairman of Cello World?

    Pradeep Rathod is the chairman and joint Managing Director of Cello World.

    What is the price of Cello World IPO?

    Cello World’s IPO price of Rs 648 was 28% higher than the price at which their shares were listed, and the issue was 39 times oversubscribed.

    How much are the sales from various product lines of Cello?

    The company gets 65% of its sales from the consumer houseware division, 18% from molded furniture, and roughly 16% from writing instruments.

  • Pilgrimaide Pooja Shoppe- A Women-Empowered Spiritual Entrepreneurship

    New Delhi (India), November 29: Pilgrimaide Pooja Shoppe is truly a Women-Empowered Spiritual Entrepreneurship that has had an exciting journey for the last seven years, originating as an e-commerce portal (www.pilgrimaide.com). It expanded its horizons to retail in 2019 and currently boasts ten retail outlets in and around Mumbai. During the 1st week of November, they opened their latest outlet near Thakur Village, Kandivali (E.), the third one in the western suburbs.

    Pilgrimaide is dedicated to aiding devotees on their Sacred Journey. With an expanding network of Pilgrimaide Pooja Shoppe stores in Mumbai and Thane, along with our online presence, we aim to cater to the needs of devotees. Our extensive range of offerings includes over 3500+ products, ranging from affordable daily pooja essentials to a curated collection of premium items. We also provide a regularly updated selection of brass idols, brass and copper accessories, pooja accessories, gifting items, and home décor items. We offer nationwide shipping services across India. Pilgrimaide’s mission is to make the process of selecting premium pooja items hassle-free, leaving only prayers in your heart. We sincerely hope that our services will assist devotees in their spiritual quest.

    Pilgrimaide is an organization comprised of 80% Women Employees, and being part of an organization including both directors, it is a model for everyone to replicate interacting with Pilgrimaide is a daily journey of learning and skill enhancement.

    The team is confidently looking forward to strong Business partnerships, guidance, and support for the next phase of the journey.

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  • Digital Transformation Summit India Announces The Top 100 Digital Leaders In India

    Mumbai, India, November 29, 2023: The Digital Transformation Summit, India, a premier event at the forefront of technological innovation, is thrilled to unveil DT 100, a prestigious initiative that recognises the remarkable achievements of technology leaders in India.

    Organized by Exito Media Concepts, DT 100 aims to honour individuals who have made exceptional contributions to advancing technology in the region. Representing a diverse array of sectors, each leader has displayed exceptional prowess in leveraging technology to drive transformative changes within their respective domains, playing a crucial role in shaping the digital landscape of India.

    The DT 100 felicitation will take place at the Digital Transformation Summit in Mumbai on the 6th of December. The event promises to be a gathering of industry leaders, tech visionaries, and innovators from across the country, providing a platform for networking and knowledge exchange.

    As we eagerly anticipate the Digital Transformation Summit, we extend our heartfelt congratulations to the 100 leaders who are paving the way for a digitally empowered future.

    Here is the esteemed DT 100 list:

    1. Haryyaksha Ghosh – Chief Data Officer, Aadhar Housing Finance Ltd.
    2. Swapnil Rajepawar – IT & Digital Pro. Head, SACG Capsules Pvt. Ltd.
    3. Swapnil Rajepawar – Head of Analytics, Aditya Birla Health Insurance Company Limited
    4. Dinesh Agrawalla – Chief Technology Officer, Aditya Birla Sun Life Mutual Fund (ABSLMF)
    5. Kamalesh Tripathi – Head IT Infrastructure, Ageas Federal Life Insurance
    6. Ramkrishna Shivchandra Mishra – Head – IT Applications, Ageas Federal Life Insurance Company Ltd
    7. G Radhakrishna Pillai – Chief Information Officer, Agilus Diagnostics Ltd
    8. Bijender Kumar M – Sr. General Manager & Chief Information Security Officer, Alkem Laboratories Ltd.
    9. Mohanachandran – Head-IT,Maharashtra, Apollo Hospitals
    10. Sarfaraz Miller – Head – Information Technology, Apparel Group India Pvt. Ltd.
    11. Shabbir Badra – Vice President Information Technology, Apraava Energy
    12. Bhushan Deshpande – Chief Information Officer, ArcelorMittal Nippon Steel India
    13. Balram Choudhary – CISO, ASK Investment Managers Ltd
    14. Saumil Purani – Vice President Information Technology, Axis Bank
    15. Subodh Rane – Senior Vice President of Technology, Axis Bank
    16. Rajneesh Srivastava – Vice President – Information Technology, Axis Bank
    17. Milind Korgaonkar – Chief Information Officer & Chief Digital Officer, Bajaj Electricals Ltd.
    18. Sanjay Kumar Tripathi – Head of Information Technology, Bestseller India
    19. Bhaskar Rao – Chief Information Security Officer, Bharat Co-operative Bank (Mumbai) Limited
    20. Parag Jain – CIO-Head of CIB Global Banking and Shared Services Transversal IT, BNP Paribas
    21. Pankaj Srivastava – Head – IT, Brookfield Renewable
    22. Allauddin Mohamad – Global Head – Information Technology, Camlin Fine Sciences
    23. Vishal Bhatia – Chief Digital Officer (CDO), Canara Bank
    24. Kamal Sharma – Senior Director, Carrier Technologies India Limited
    25. Prateek Shirod – Head IT & Digital, CEAT Tyres Limited
    26. Dr. Jitendra Panchal – Sr. Vice President – Technology, Central Depository Services (India) Limited
    27. Boman Nakra – Chief Information Officer, Credit Agricole Corporate and Investment Bank
    28. Rajnish Gurchale – Head IT – Applications, D’Decor Exports Pvt Ltd
    29. Suresh Nadar – Group CIO, Dr. Batras Group of Companies
    30. Shreevar Narayan – Chief Technology Officer, Ecofy
    31. Deepa Duraisamy – Vice President, Head – Data, Edelweiss Tokio Life Insurance
    32. Kamlesh Jain – Global CIO, EPL Limited
    33. Subhash Shelke – Corporate CIO – Head of SAP & Applications, Essar Group
    34. Sivakumar Nandipati – Chief Digital Officer, Fedbank Financial Services Ltd
    35. Tejas Maniar – Chief Digital Officer (CDO), Fino Payments Bank Ltd
    36. Ashok Tiwari – Chief Information Officer, Finolex Cables Ltd
    37. Johnson David – Chief Technology Officer, Foodlink F&B Holdings India Pvt. Ltd
    38. Vikram P Arora – Chief Information Officer, Future Generali India Insurance Company Limited
    39. Vinay Morje – Vice President – Head of Digital Transformation, Grasim Industries Limited | Pulp & Fibre
    40. Dilip Lakkireddy – Head IT Infrastructure & Information Security, Green Ply Industries Limited
    41. Nagraj Rao – Director Of Information Technology, Hatwari Automation LLP
    42. Tejasvi Addagada – Senior Vice President, Head- Enterprise Data Management, Data Office, HDFC Bank
    43. Ayan De – Head – Enterprise Technology, HDFC Life
    44. John Rajesh P – Head – Digital Applications Technology, ICICI Prudential AMC Ltd
    45. Sankaranarayanan Raghavan – Chief Technology and Data Officer, IndiaFirst Life
    46. Prasad Patkar – Head Of Information Security, IndiaFirst Life Insurance Company Limited
    47. Meheriar Patel – Group Chief Information Officer, Jeena & Company
    48. Krushna Sahoo – Director of Information Technology, JM Financial Services Ltd.
    49. Manish Kumar Singh – Regional IT Director – Janssen AsPAC Supply Chain, Johnson & Johnson
    50. G.Venkateshwaran – Vice President – IT & Digital Solutions, Jsw Steel Limited, Mumbai
    51. Gaurav Kushwaha – Chief Digital & Information Officer (CDIO), Jubilant Ingrevia Limited
    52. Melwyn Rebeiro – Director-Head IT GRC, Regional CISO & DPO, Julius Baer
    53. Saugata Basu – Group Chief Digital and Information Officer, Kalpataru Group
    54. Pradipta Patro – Head IT & GCISO, KEC International Limited (An RPG Group Company)
    55. Rahul Kumar Verma – Associate Director of Information Technology, Kenvue
    56. Srinivasan Raman – Chief Information Officer, Kokilaben Dhirubhai Ambani Hospital
    57. Suhail Siddiqui – Head – IT Corporate Functions, L&T Finance
    58. Mathur Vadadoriya – Chief Technology Officer, LKP Securities Ltd
    59. Dilip Mishra – Senior Vice President, ManipalCigna Health Insurance Company Ltd.
    60. Mayuresh Purandare – Head IT – Infrastructure & Security, Marico Industries Private Limited
    61. Anand Pratap Tomar – Chief Information Officer (CIO), McDonalds India (HRPL)
    62. Rajgopal Nayak – Chief Technology Officer, Metro Brands Limited
    63. Dr.Rajendran N – Chief Digital Officer (CDO), Multi Commodity Exchange of India Ltd
    64. Lalit Wadhwani – Chief Information Officer, Mumbai Newsbox Pvt. Ltd.
    65. Vijayraj Bhosale – Head IT & CISO, National Credit Guarantee Trustee Company Ltd.
    66. Arpanarghya Saha – Chief Digital Officer, Nippon Life India Asset Management Ltd.
    67. Narendra Addagatla – AVP- IT Infrastructure, Nirmal Bang
    68. Satyajit Mozar – Chief Information Officer, OmniActive Health Technologies Limited
    69. Sudip Mazumder – Global Chief Digital & Information Officer, PGP Glass Pvt. Ltd
    70. Dhaval V Pandya – Corporate Chief Information Officer (CIO), Piramal Enterprises Limited
    71. Sumit Garg – Global CIO – Piramal Pharma Solutions, Piramal Pharma
    72. Tejas Shah – Head IT Infra/ Apps, Prince Pipes and Fittings Ltd
    73. Rupesh Nirgude – Chief Information and Digital Officer, Prism Johnson Limited
    74. Jitesh Save – General Manager – IT, Raj Petro Specialities Pvt. Ltd
    75. Dr. Amrut Urkude – Chief Information Officer, Reliance Polyester Limited
    76. Joji Joseph – Asst Vice President – Information Technology, Reliance Power
    77. Kiran Komatla – Group CTO, Restaurant Brands Asia
    78. Rajkumar Ayyella – Chief Information Officer, RPG Group(KEC International Limited)
    79. Linumon Thomas – Digital Leader, Sanofi
    80. Sourabh Surendranath – Chief Digital Officer, SBI Securities
    81. Durgesh Mankar – AVP & CISO – Sodexo SVC India Pvt. Ltd.
    82. Dharmvir Kumar Singh – Chief Information Officer, Spandana Sphoorty Financial Limited
    83. Rupendra Kumar Nigam – VP – IT ( Head IT), Spykar Lifestyles Pvt. Ltd.
    84. Rasvinder Singh Nagpal – Lead -IT Infrastructure & Networks, SUMITOMO CHEMICAL INDIA LTD.
    85. Milind Khamkar – Group CIO, Super Max
    86. Sudheer Muvva – Chief Technology Officer, Suryoday Small Finance Bank Ltd
    87. Deepak Sakpal – Associate Vice President – IT, Sushil Financial Services Private Limited
    88. Sunil Kumar – CTO & Head – T&A, The Great Eastern Shipping Co. Ltd
    89. Sunil Nair – Vice President IT, The Phoenix Mills Ltd
    90. Tanushree Sarkar – IT Director, Thermo Fisher Scientific
    91. Kumaresan M. – Head Of Information Technology, Unichem Laboratories Limited
    92. Rajnish Khare – Chief Digital Officer, Union Bank of India
    93. Govind Joshi – Chief Information Officer, USV PRIVATE LIMITED
    94. Vishwas Mhatre – Head of Information Technology, Vinati Organics Limited
    95. Nisha Dulhani – VP – Big Data and Advanced Analytics, Vodafone Idea LTD
    96. Pankaj Singh – Global CIO, VVF India Limited
    97. Dr. Ravi Sharma PhD – Head of Information Technology, Wanbury Limited
    98. Pankaj Srivastava – Director of IT, Wellington School
    99. Atul Srivastava – Chief Information Officer, Welspun Group
    100. Vijay Kumar – Chief Technology Officer, Xanadu Reality Limited

    For more information about the Digital Transformation Summit India and the DT 100, please visit- digitransformationsummit.com/india/

  • Trials, Triumphs, and Transformations of Content Creators

    The creator economy gained significant traction prior to the COVID era, experiencing a surge during the pandemic when content consumption soared. As we transition into a post-COVID landscape, the outlook for creators appears less favorable.

    While figures like Ankur Warikoo, Ranveer Allahbadia, Akshat, Sharan Hegde, Bhuvan Bam, and Carry Minati have mastered sustainable income generation on platforms like YouTube, Instagram, and LinkedIn, the majority struggle to translate content creation into financial stability. Branded creators such as Kamiya Jani and Miss Malini represent the exception rather than the rule.

    For a substantial portion of creators—about 95%—the creator economy seems exaggerated. Despite engaging in various creative endeavors, from dancing to emotional performances, many struggle to establish a consistent income stream for long-term survival. Brands also recognize this, utilizing influencers temporarily before moving on to the next trending figure.

    “People only have time to consume so much. So you have to be the best, or in the top few, in any given space,” remarks Austin Rief, CEO of Morning Brew. The intense competition makes it challenging to thrive in a saturated market, with only a fraction of creators reaping substantial financial rewards.

    Platforms like Gumroad and OnlyFans aim to extract fees ranging from 5-20% from an industry where even the top 1% doesn’t guarantee millionaire status. The addressable market is not colossal, making it improbable for any creator to achieve a billion-dollar business. Only a few creators manage to earn a million dollars or INR 1 crore annually, and their sustained success is far from guaranteed.

    The fleeting nature of a creator’s career exacerbates the challenges.

    The once-promising projections of the Creator Economy reaching $100 billion now seem questionable. As the advertising market contracts amid a slowdown, many content creators are expected to face financial difficulties.

    In the global surge of the digital creator economy, Indian content creators confront a unique challenge: struggling to distinguish themselves in an intensely competitive landscape. Tanya Mehra, an Instagram Mom Blogger and Influencer, points out the difficulty of standing out among millions of creators, leading to challenges in securing brand partnerships and sponsorships, and hindering sustainable revenue generation.

    Ravish Shetty, a Digital Content Creator, highlights the minimal compensation from short-format social media platforms, leaving branded content as the primary revenue stream. However, copyright issues, particularly with licensed songs in long formats, pose additional obstacles to earnings.

    Navdeep Sharma, co-founder at ReelStar, underscores the multifaceted challenges hindering the growth of Indian creators, including monetization hurdles, copyright concerns, and limited access to resources and partnerships. These obstacles contribute to the slow progress of India’s creator economy, leaving untapped talents.

    Faisal Khan, founder of MotorBeam and FK-R, echoes the influencers’ struggle, emphasizing that content monetization is a primary challenge. He also mentions difficulties in adapting to dynamic technology, changes in digital platforms, and creating content suitable for various formats as serious hurdles in the digital influencer economy.

    The Evolving Landscape of Content and Commerce in India
    The Rise of Indian Creators
    The Landscape of Influencers
    Monetization Strategies for Creators
    Triumph Techniques
    The Economic Impact of the Creator Economy
    Headwinds and Promising Horizons

    The Evolving Landscape of Content and Commerce in India

    India’s dynamic digital landscape has given birth to a thriving creator economy, where individuals leverage creativity and entrepreneurial spirit to produce and monetize content across diverse online platforms. This not only reshapes how people consume entertainment and information but also generates numerous economic opportunities for individuals and businesses.

    The Rise of Indian Creators

    With over 100 million individuals actively creating content on platforms like YouTube and Instagram, India hosts a diverse community of creators spanning various genres. Their impactful content resonates with large and engaged audiences, positioning them as influential figures within their niches.

    What Is Creator Economy & How Is It Driving India’s GDP?
    The creator economy of India is set to scale with people able to generate revenue doing what they love and connecting with their roots.
    StartupTalkyKinnary Nensee

    The Landscape of Influencers

    According to the Animeta report referenced earlier, the expansive creators’ ecosystem includes around 922,000 individuals with a minimum of 100 followers across YouTube, Instagram, and Facebook. These creators fall into distinct categories: Nano (53%), with fewer than 10,000 followers; Micro (36%), ranging from 10,000 to 100,000 followers; Macro (10%), commanding 100,000 to 1 million followers; and the remaining (0.8%), designated as Mega creators, boasting 1 million or more followers.

    Examining this evolution of influencers, Sagar Pushp, CEO, and co-founder at ClanConnect, notes that the surge of influencers in India is primarily propelled by micro and nano influencers situated in Tier 2-3 regions. However, this growth poses challenges for the creator economy, as a significant percentage of Indian creators from smaller towns and cities lack access to paid collaboration opportunities with brands.

    Further expanding on this perspective, Himanshu Arora, co-founder at Social Panga, emphasizes the extensive Total Addressable Market (TAM) for these content creators spread across India. He underscores the need for a reevaluation of how content creators establish a pan-India presence. Collaborations between artists, digital agencies, and policymakers become crucial as the digital landscape evolves, supporting sustainable growth and addressing the challenges faced by Indian creators.

    Archit Agarwal, founder and CEO at Tikshark Solutions, underscores that these challenges not only impact the sector’s credibility but also constrain Indian creators from competing effectively on the international stage. Initiatives from both the government and private sector, coupled with the increasing penetration of the internet and smartphone usage, are paving the way for a more inclusive and thriving digital creator ecosystem in India.

    Monetization Strategies for Creators

    Indian creators employ various monetization strategies to generate income, including brand collaborations, affiliate marketing, advertising (display, video, and affiliate marketing), sponsored content, merchandising, fan subscriptions, direct payments, digital products, live streaming, consulting/coaching, events, and licensing.

    Value of Influencer Marketing Industry in India From 2021 to 2022, With Projections Until 2026
    Value of Influencer Marketing Industry in India From 2021 to 2022, With Projections Until 2026

    Triumph Techniques

    Selecting an effective monetization strategy depends on factors such as audience demographics, content type, platform choice, and financial goals. Considering these elements ensures creators align their strategy with their unique circumstances.

    The Economic Impact of the Creator Economy

    The creator economy significantly contributes to India’s economy, with YouTube’s creator ecosystem alone contributing over Rs 16,000 crore to the GDP in 2022, supporting the equivalent of 7.5 lakh full-time jobs. The creator economy is poised for exponential growth, further driving economic expansion and job creation.

    With a remarkable mobile penetration of 77% among the total Indian population and one of the lowest data costs globally, the creator economy holds immense importance. It serves as a pivotal platform, enabling millions of talented individuals to exhibit their skills, connect with a global audience, and capitalize on their content.

    The creator economy takes on particular significance in India, where a substantial population of tech-savvy youth is eager to showcase their talents. With over 1.3 billion people in the country, more than 600 million are internet users, positioning India as one of the largest online markets globally. This demographic landscape has spurred a substantial demand for content, prompting creators to respond by producing high-quality, captivating content that has garnered attention not only locally but also from audiences around the world.

    The convergence of several factors, including a sizable and youthful population, a burgeoning internet user base, escalating video viewership, the democratization of content creation tools, and the rapid expansion of the creator community, paints a promising future for the nation.

    Meta strives to furnish creators with the means to express their creativity, foster collaborations with both creators and brands, and establish a secure environment that encourages people to comfortably express themselves.

    Significantly, the organized influencer marketing sector is projected to surpass ₹3,000 crore in FY24, with the revenue share of micro-influencers expected to rise from 9% in the current fiscal year to 14% in FY24.

    Meta India head, Sandhya Devanathan highlights the pivotal role played by the surge in short-form videos, particularly on platforms like reels. She notes that more individuals from smaller cities and towns are leveraging reels to showcase their talents, gaining national recognition. With reels, creators now have a global platform to exhibit their skills, marking a significant positive shift in their trajectory.

    YouTube: The Birthplace of the Creator Economy

    Headwinds and Promising Horizons

    Despite rapid growth, the creator economy in India faces challenges such as content discoverability, a lack of robust monetization infrastructure, and issues with copyright protection. However, these challenges coexist with opportunities driven by increasing smartphone and internet penetration, rising disposable incomes, and the potential of emerging technologies like blockchain and artificial intelligence to revolutionize monetization and content discovery in the creator economy.

    Advanced technologies like ChatGPT, OpenAI’s GPT-3, Hugging Face, and Google’s BERT hold the potential to revolutionize the landscape of the creator economy, offering enhanced capabilities for efficient and personalized content creation. Through the integration of AI and machine learning, content creators gain the ability to produce top-tier content at an accelerated pace, enabling them to expand their enterprises and connect with broader audiences. This transformation may intensify competition within the space, compelling creators to consistently innovate and adapt to maintain a competitive edge.

    It is crucial to emphasize that while these technologies have the capacity to disrupt the industry, creators remain the focal point of the creator economy. Despite the evolution of tools and technologies, the fundamental requirement for imaginative and innovative individuals to generate compelling content will endure. The symbiotic relationship between creators and technological advancements ensures that, as the industry evolves, creative individuals will continue to play a central role in shaping the content creation landscape.

    FAQs

    What are the various strategies applied by Indian creators to generate income?

    Indian creators employ various monetization strategies to generate income, including brand collaborations, affiliate marketing, advertising, sponsored content, merchandising, fan subscriptions, direct payments, digital products, live streaming, consulting/coaching, events, and licensing.

    What are the categories of creators on the social media platforms?

    The various categories of creators are based on the number of followers: Nano (53%), with fewer than 10,000 followers; Micro (36%), ranging from 10,000 to 100,000 followers; Macro (10%), commanding 100,000 to 1 million followers; and the remaining (0.8%), designated as Mega creators, boasting 1 million or more followers.

  • Chaayos Startup Story – More Than Just a Cup of Tea

    Chai is much more than a cuppa tea in India. It’s something that folks sip to begin their mornings; it is a required beverage to wake you up every morning and a nourishment drink with midday treats. Our generations have dabbled with Tea and its flavours; there’s a distinct meaning of a fine balance for every ‘chai lover.’ Folks sip chai across every home in this nation, regardless of social status, or, to put it differently, a type of brew that is required to keep them going.

    Although chai is such a vital and well-known beverage, we have never noticed a well-known label or chain outlet devoted solely to chai. There are around 35,711 Starbucks stores across the globe, as per news reported by Statista in 2022, and you couldn’t get a lovely and clean cuppa in a café with a pleasant atmosphere. Folks had to rely on their homes or any curbside shop to get their favourite cuppa. This is the underlying spark that supports Chaayos.

    “This was the key aspect behind Chaayos—to have a spot where you can go get a vibrant clean cuppa made according to your preference with a nice, cozy setting,” says Nitin Saluja.

    In this article, let’s explore the world of Chaayos—its founders, business and revenue model, funding, and more.

    Chaayos – Company Highlights

    Startup Name Chaayos
    Headquarters New Delhi, Delhi, India
    Sector Food and Beverage Services
    Founder Nitin Saluja and Raghav Verma
    Founded 2012
    Website chaayos.com

    Chaayos – About
    Chaayos – Industry
    Chaayos – Founders
    Chaayos – How was Chaayos Started?
    Chaayos – Logo
    Chaayos – Business Model
    Chaayos – Unique Selling Proposition(USP)
    Chaayos – Revenue Model
    Chaayos – Challenges Faced During Covid-19
    Chaayos – Funding and Investors
    Chaayos – Investments
    Chaayos – Growth and Financial
    Chaayos – Marketing Strategy
    Chaayos – Advertisements and Social Media Campaigns
    Chaayos – Competitors
    Chaayos – Future Plans

    Chaayos – About

    Chaayos is a contemporary Indian brand that embodies the bold spirit of its creator, Nitin Saluja. Visitors adore visiting its well-furnished cafés to sip chai and sample various kinds. With true and delicious ingredients, Chaayos now makes it simple for anyone to enjoy their favorite adrak-elaichi chai at home. Chaayos may conduct enjoyable events, update the cafés with unique touches that pay homage to Nitin’s design, and spread the word about the simplicity and genuineness of their homemade chai alternatives to improve things even more. For those who enjoy chai, Chaayos turns into the ideal setting for both at home and in cafés.

    Chaayos – Industry

    Indian food and beverage businesses have raised over $600 million in funding in a fast-paced expansion from 2014 to H1 2022. Future prospects appear promising; by 2025, it is predicted that India’s e-commerce sector will grow to be worth $400 billion.

    According to the findings from Inc42’s “The State of Indian Startup Ecosystem Report, 2022,” the food and beverage industry is leading the way and is expected to develop at a remarkable rate of 29% CAGR over the next three years. This highlights the dynamic and promising startup scene in India, especially in the food and beverage industry.

    Chaayos – Founders

    Nitin Saluja and Raghav Verma Co-Founders of Chaayos (Left to Right)
    Nitin Saluja and Raghav Verma Co-Founders of Chaayos (Left to Right)

    Chaayo’s co-founders are Nitin Saluja and Raghav Verma.

    Nitin Saluja

    Nitin Saluja, co-founder of Chaayos, graduated from IIT Mumbai. Additionally, he is one of ThinkLabs’ co-founders. He was employed at Opera Solutions prior to cofounding Chaayos.

    Raghav Verma

    Raghav Verma is a graduate from IIT Delhi. Having co-founded PrepSquare and having experience in Opera Solutions, his unique combination of technological know-how and business acumen has played a pivotal role in establishing Chaayos success.

    Chaayos – How was Chaayos Started?

    Chaayos is the brainchild of two engineers, Nitin Saluja and Raghav Verma. They worked for the US consultancy firm Opera Solutions. Nitin was a tea connoisseur.

    During this time, they both met via a common friend who was also employed by Opera Solutions in the United States. They both discussed the concept and were compelled to put the weirdest idea on the startup’s floor. They both resigned and poured their hearts and souls into their startup.

    Nitin is in charge of product design and distribution networks, while Raghav is in charge of business growth and advertising. They called their company “Chaayos,” and the first store was established in Gurgaon in November 2012.

    It is very easy to think of Chai as an item. Consumers at Chaayos, on the other hand, can choose from 25 flavoured teas that can be customized in 12,000 diverse ways! The catchphrase is “Experiments with Tea.” Their company believes in the customization of chai with a broad array of flavours. They have introduced a very special chai menu, or you could say they were willing to try something new.

    The overall vibe of the stores is another significant aspect they have introduced to their biz. The café exemplifies the “Chai lifestyle.” The interiors pertain to the very fundamental idea of chai; lamps created by cutting Chai cups, teapots, and Chai samples in a palette that demonstrate the firm’s exploratory nature.

    Chaayos Interior
    Chaayos Interior

    The top-selling Chaayos store generated a yearly income of Rs 1 crore. This was the most significant achievement in its business journey as per the news report of July, 2023.

    Chaayos Logo
    Chaayos Logo

    Chaayos – Business Model

    Chaayos’ business model is reflected in its unique product, ‘Meri wali Chai’ which is a combination of quality, flavours, wholesomeness, and variety. It provides various types of tea flavours, including 25 tea types, and 12,000 ways to customize them.

    Clients can also choose from a variety of add-on flavours. As a result, it offers personalized tea solutions based on the customer’s preferences. It sells bundled snacks and chai mixes in addition to tea.

    Its main audience includes both Gen-Z and Gen-Y clients, as tea is popular among both generations. The clientele comes from upper middle class and upper class backgrounds.

    Chaayos – Unique Selling Proposition(USP)

    Its USP is a very new and unique flavoured hygienic, customized tea. In addition, the label has other facets of USP, such as:

    A Deluxe Outlet Ambience

    The ambience inside cafes is both stresses relieving and calming. With appropriate background music, reclining furniture design, etc., the label offers an ideal atmosphere to calm the mind while also working on projects.

    Higher Output in Hardly Any Time

    It functions on an approach to appreciate and gratify every client of every store, which served as the label’s USP in generating high results. Various snacks provided by the company, such as Maggie, Sandwich, Wada pav, etc., have also attributed to its faithful and repeat clients. The label has achieved the rapid accomplishment of its tactic of combining creativity, innovativeness, and exploring with chai that surpassed expectations.

    Advanced Response Framework

    It has incorporated a well-defined task control program that integrates usual customer reviews, prompt actions on bad reviews, and so on. The team is well-educated and well-trained.

    Diversified Menu

    It offers a diverse selection on its menu. Originally serving various flavoured teas, the brand has since augmented to serve a variety of snacks and meals to both Indian and foreign clients. They also use Kulhads to serve chai in an environmentally friendly manner.

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    Chaayos – Revenue Model

    Within a quarter of the company’s launch, each store begins to profit. That year, the company’s sales increased by 30%, which includes total sales of chai and nibbles, i.e., about 4–4.5 lakh cups, i.e. approximately 2 lakh units. It made Rs 52 crore in income in FY18.

    The label also makes money by serving chai on demand, which accts for 20% of total earnings. They also supply approximately 300 boxes of bundled chai blends weighing 100 gm each. The cost for each box is Rs 200.

    Chaayos – Challenges Faced During Covid-19

    Eateries were struggling financially due to low foot traffic and rising rents. Few were working on a revenue-sharing rental contract; instead, some were returning to the local shops. Many people prefer food delivery because buyer complacency is lower in this case.

    These difficulties have not spared Chaayos. The shops were closed for the entire span of the quarantine, and in-store sales were still marginal. However, the online ordering biz restored to 40% of pre-COVID levels. Regardless of the difficulties, its kept its stores open.

    Rent agreements have played a significant role in keeping it stable. Well before the pandemic, 40% to 45% of its shops had a revenue-sharing agreement for lease, which was beneficial in this scenario. Even where there’s no income sharing contract, Chaayos has requested exemptions because the landlords don’t have several bidders for these spots in that situation.

    It has created an online delivery app to help people in pre-ordering and thus avoid long lines. Because of the strong tech involved, they’ve been able to easily transform into contactless operations.

    Chaayos – Funding and Investors

    In eight investment rounds, Chaayos has raised $85.5 million as of June 13, 2022.

    Here is the company funding details:

    Date Stage Amount Investors
    Jun 13, 2022 Series C $45 million Alpha Wave Ventures
    Feb 11, 2020 Series B $18.5 million Think Investments
    Feb 11, 2020 Debt Financing $3 million InnoVen Capital
    Sep 5, 2018 Series B $12 million Elevation Capital, Integrated Capital
    Oct 13, 2017 Series A $2 million Tiger Global Management
    Aug 31, 2016 Series A – –
    May 19, 2015 Series A $5 million Tiger Global Management
    Jul 2, 2014 Seed Round $333K –

    Chaayos – Investments

    To date, Chaayos has invested in just one company. On May 31, 2022, it made an $1.5 million seed round investment in Fitelo.

    Chaayos – Growth and Financial

    Its adventure began by starting its very first shop in DLF Cyber City in Gurgaon, Delhi. They operates with 200+ stores in Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai. As of 2015 news report, between 4,500 and 5,000 walk-ins per day visit Chaayos 11 locations. Company has strong 1,001-5,000 number of employees.

    Financial

    Chaayos Financial
    Chaayos Financial
    Chaayos Financial FY22 FY23
    Operating Revenue Rs 135 crore Rs 237 crore
    Total Expense Rs 211 crore Rs 349 crore
    Profit/Loss Loss of Rs 71 crore Loss of Rs 95 crore

    Expenses

    Chaayos total expenses rose from Rs 211 crore in FY22 to Rs 349 crore in FY23.

    EBITDA

    Chaayos FY22-FY23 FY22 FY23
    EBITDA Margin -41% -27%
    Expense/Rupee of ops revenue Rs 1.56 Rs 1.47
    ROCE -75% -29%

    Chaayos – Marketing Strategy

    The advertising tactic of Chaayos involves both offline and online promotional tactics. For virtual advertisements, the brand makes good use of digital marketing tools such as social media and e-mail marketing. Buyers near stores or walk-ins are the focus of its offline marketing plan. Its loyalty program is for satisfied clients, and this advert applies to all stores.

    Online

    It is utilizing an online media forum for its promotions, i.e., brand visibility and customer acquisition to improve customer care. This is also their strongest asset, as they manage client queries swiftly and effectively. The following are some of the online platforms that the firm uses for promotions:

    Facebook

    With good number of fans and supporters, its Facebook page which was initiated in 2012, is now the absolute forum for its marketing events. Chaayos uses this platform to connect with its audiences by allowing them to share ideas, recommendations, tales, etc. in an open chat forum. The label also promotes its activities on this virtual media site.

    Instagram

    It communicates with its customers and fans via Instagram. With a good number of Instagram fans, they’re using this online media tool for a variety of adverts. It frequently posts pictures of various famous visitors or celebs who visit their stores, as well as styles and displays e-cards for festive purposes.

    Chaayos Instagram
    Chaayos Instagram

    Twitter

    It also has a Twitter following. The label deals with customer inquiries on this app daily. It also serves its users with e-coupons for new tea varieties, and supporters or clients can create their customized tea with Chaayos tea packs and tell their stories on Twitter. The company launched a Twitter hashtag called Experiments with Chai that has increased its clientele in Chaayos stores by 25%.

    Chaayos Twitter
    Chaayos Twitter

    YouTube

    It makes good use of YouTube for promotions. To connect with people, brand innovators share their insights and progress stories regularly via short video clips on the channel.

    Offline:

    Aside from the aforementioned, Chaayos also conducts promotions with fitness centers and supermarkets.

    Chaayos – Advertisements and Social Media Campaigns

    Chaayos Campaign

    Chaayos mein Tai Chai? #AisaBhiHoSaktaHai

    The Chai Frappe is a new summer beverage from Chaayos, with the equally distinctive and energizing campaign hashtag #AisaBhiHoSaktaHai. With an unorthodox take on what to expect at Chaayos, the #AisaBhiHoSaktaHai campaign challenges stereotypes and encourages people to think beyond their constraints while celebrating creativity and ingenuity.

    Chaayos – Competitors

    Its direct rivals are Chai Point and Chai Sutta Bar. The company’s competitiveness over its rivals is based on its deluxe ambience of stores, efficient delivery, better results in a shorter timeframe, fully personalized products, and a diverse menu for both Regional and Global tastes.

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    Chaayos – Future Plans

    Within the next three years, it intends to grow from 90 to 300 cafés. Expansion, on the other hand, can be difficult to manage in the food industry. Many companies experience lower client satisfaction as their retail footprints expand due to inconsistency or poor service. Chaayos, on the other hand, has invested in new tech to assure that uniformity is not a concern.

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    FAQs

    Who is the founder of Chaayos?

    Nitin Saluja and Raghav Verma are the founders of Chaayos.

    When was Chaayos started in India?

    Chaayos was founded in 2012 by Nitin Saluja and Raghav Verma.

    What is special about Chaayos?

    Chaayos has many chai flavours, the company experiments with different chai flavours. Also, it offers a unique ambience in its cafés to its customers which is calming and stress relieving.