This article is contributed by Mr. Meet Shah, Founder of Craftezy.
Entrepreneurship as a concept has picked up pace over the years. The excitement and the pride associated with launching one’s venture and finally converting that dream into a reality is indeed indescribable!
The effect of the pandemic on the Indian handicrafts sector –
As much as the journey is a roller coaster ride, it is full of roadblocks as well. This is mainly witnessed in the handicrafts sector. Ever since the pandemic outbreak, the livelihood of artisans and the handicraft community has been impacted severely. The production hit the pause button, unsold inventory started piling up, and the demand for orders from the customers came to a halt. Businesses also faced a lack of capital with reinvesting and continuing the operations. To sum up, the community witnessed a dearth where the meager survival of artisans was in danger. In such a scenario, launching a startup in the handicraft community seems to be a daunting task.
Roadblocks faced in the path of launching a startup
The Indian handicraft segment is a highly unorganized market. Consequently, the gap between sellers and buyers remains prominent at the global level. One of the significant challenges an entrepreneur faces while launching a startup in this sector is bringing decorum to a chaotic market. Adding to it, the industry also envisions offering equal growth opportunities to both sellers and artisans, and this aim comes with its fair share of challenges.
As most sellers hold a strong presence in the local markets and not the global marketplace, it’s a significant hurdle for them to help reach international audiences. Providing solutions for payments and keeping a check on the quality of the products is another major hurdle for the sector, which is primarily driven by exports and is addressed as an export-centric business. The authenticity of crafts and having a robust logistics model are other major road bumps faced by startups planning to enter the handicraft ecosystem.
While the challenges disrupt the optimal functioning of the sector, they also come with a silver lining. They have eventually paved the way for the digitization of the handicraft sector. A segment that was always working with a brick-and-mortar model is now undergoing significant transformations. Realizing that to thrive through the troublesome situations and enjoy a competitive edge in the market, technology deployment is essential; the players have been focusing on introducing innovations and digital transformations in their operations.
Digitization: The feasible solution and the dire need of the hour
In an attempt to sail through the turbulent times induced by the pandemic, the sector is embracing digitization. The industry is hopeful that adopting technology will create employment opportunities and help businesses drive more significant revenues. The players are also focusing on leveraging the power of technology to bring convenience to the doorstep of their customers. While on the one hand, tech solutions have made payments smooth, quick, easy, and secure, on the other hand, the logistics and the marketing activities have also boosted exponentially, all thanks to technology!
Digital deployment has enabled the handicraft ecosystem to tap the global markets, and the players have been able to engage and establish a customer base at the international levels. On the whole, with the tech revolution, the handicraft sector has been upscaling significantly and will help in easing out the journey for aspiring entrepreneurs to launch their startups in this domain. Technological disruption will also help streamline the unorganized sector into a structured one.
Craftezy, one of the leading B2B marketplaces, has successfully understood the pain points of the handicraft industry. Ranging from authenticity and credibility of the crafted masterpieces to ensuring equal compensation for the sellers and educating them about the crafts’ business models, the brand has designed its offerings to ensure the players have access to apt solutions for the problems faced by them. Understanding the needs of the buyers and the sellers and the diversely growing preferences of the customers, Craftezy leaves no stone unturned to come up with viable solutions that are suitable for all! Becoming an end-to-end solution for sellers and buyers implies ensuring the provision of a platform that would simplify and ease out the operations of businesses.
Conclusion
As much as ‘Vocal for local’ and ‘Make in India’ campaigns are boosting the handicrafts sector, there are various hindrances in the journey for startup launches. However, the answer to all the troubles is digitization and collaboration with the marketplaces! A recent report by IMARC Group points out this trend and states that the Indian handicrafts market is projected to witness significant growth in the times ahead, primarily due to the surge in the e-commerce industry.
Ensuring that the entire process of buying, selling, and delivering is fool-proof and error-free is one of the most appropriate ways to gain consumer trust. This would eventually lead to customer loyalty and increased revenues. Furthermore, providing marketing support to an otherwise un-exposed form of business would help small enterprises to tap the international market. This is the reason why marketplaces are rendering a helping hand in providing solutions. They are giving relevant opportunities to aspiring entrepreneurs and are helping them mark their presence in the market. These platforms take care of the entire buying and selling processes, transactions, along with end-to-end operations in a seamless, safe and secure manner.
This article is contributed by Neha Kulwal, Country Manager, Admitad India.
With about 660 million users worldwide, messaging service Telegram is growing fast to become a high-engagement platform that consumers can leverage not just for their regular conversation, but for shopping and learning with the possible existence of so many channels. Besides, Telegram also emerged as the most in-demand traffic source in the affiliate industry, turning out to be the best for existing publishers and even for the individuals who have a huge audience base on their app.
Telegram allows everybody to easily communicate via private messaging, channels, or groups. To maximize the earnings, most publishers sign up with an affiliate network because it’s a one-stop platform where they can find a wide range of offers, well-known brands to work with, and advanced tools and technologies.
All in one platform
Affiliate networks, being the key source for publishers, plays an important role by allowing them to not just access many campaigns but also provide several monetization opportunities as well. The use of social media, personal recommendations via messengers, and other platforms by publishers push the consumer to the conversion stage. Usually, it can be used for a targeted niche where publishers can share various deals/offers with their users.
With the trust and reliability of messengers among consumers, brands have started allowing products promotion for customer acquisition. The foremost benefit lies in the source of income through affiliate marketing which enables telegrammer a static income for a longer period of time with the same affiliate link. Also, they are not bound to reach out to different brands at the same time as with affiliate networks, they can access multiple brands’ offers across categories to promote.
Consumers nowadays have become very reluctant to find different offers/ deals from different brands. Telegrammers come as a mediator between the brands and consumers providing all the deals on one channel/group. The good news is that Telegram allows you to share affiliate links organically without restrictions so once your communities start expanding, you can look out for affiliate programs based on your niche. It is easy to find affiliate programs on affiliate networks, they can help you find effective campaigns that allow Telegram traffic.
According to Admitad, a 3x growth in the number of orders has been observed via Telegram. As affiliate networks provide multiple solutions like various payment methods, advanced tools, 24*7 steam support, best payouts making it easier for publishers to work hassle-free. For instance, a telegrammer having an audience niche of fashion and beauty can choose a variety of beauty and fashion affiliate programs to promote and earn.
Making money with Telegram
Telegram doesn’t pay for channels or groups themselves, there is no monetization program inside it. However, in late 2020 it was announced that Telegram monetization will be launched any time soon. Even without an official monetization opportunity, Telegram is one of the most popular platforms for advertising. People already make a huge income per month by selling their products, services, or ads on Telegram channels. But, though Telegram offers a lot of money-making opportunities, you have to invest a lot of time and effort to get your Telegram business off the ground, like creating top-notch valuable content, posting consistently, building a loyal following, opting for relevant tools, and making sure you are one step ahead of your competitors. On the Admitad platform, the publishers have earned on an average 6.5 lacs monthly via telegram. If you play your cards right and use the relevant tools, eventually, telegram will become a lucrative revenue stream for you.
In the online space, there are many tools available that can help telegrammers/publishers to monetize their website as well assist them to attract users effectively. One might already be acquainted with some of the tools or are planning to do so. Using at least the two following tools will ease your life greatly: they are multifunctional and rather helpful – Extension for Google Chrome and Telegram Bot.
After adding the Admitad extension to your chrome browser, the publisher can see the main details of the affiliate program in the browser window of the advertiser webpage. Also, any unique deep link can now be created literally in one click. The tools tend to be highly recommended and useful for bloggers.
Telegram Bot by Admitad is the tool that immensely helps to work with the affiliate programs from any device where this messenger is installed. The Bot is useful for any telegrammer to create a short link and can also generate multiple deep links at a go making it convenient for both the users and publisher while keeping a check on their earnings.Telegram bots give the app a competitive advantage over other messengers. Bots can serve a lot of marketing purposes and can save marketers a lot of legwork when communicating with clients.
With the rise in demand for affiliate marketing and with the overall positive responses from the industry, it is sure that affiliate channels have turned out as a win-win situation for both advertisers and publishers. Looking at the positive side, it is best for all brands and publishers to partner with affiliate channels to grow more and look out for better and positive results.
Remember, Telegram is growing in terms of earnings, don’t miss your chance to find your niche and make money online!
A prepaid stored-value money card, issued by a retailer or a bank that is used as an alternative to cash, for purchases within a particular store or related businesses is known as a gift card. They can generally be redeemed for purchases at relevant retail stores and, often, be subject to fees or expiry dates. Such gift cards are given by individuals to friends or family members in place of an object as a gift. They are also given by employers or organizations to their employees as rewards linked to either festivals or performances. There are generic gift cards available, usually issued by banks like American Express or even Visa, for cashback marketing strategies. Other companies like airlines, cruise ships, hotels, theme parks, and restaurants also offer gift cards in an effort to earn repeat business.
Gift Certificates were the predecessor of the more modern gift cards. They were first invented in the 1930s by department stores. However, gift certificates were available to only limited customers, and that too only on request. Gift certificates gained popularity in the 1970s when McDonald’s first ran the campaign by giving out Christmas Gift Certificates. The trend caught on quickly with many stores, restaurants, and retailers joining the gift certificate bandwagon.
However, as beneficial as gift certificates were, there were a few issues attached to them. The process of issuing and redeeming gift cards was time-consuming and there were a lot of fraudulent activities which resulted in retailers losing a large amount of revenue. It was in the 1990s that gift cards entered the market that addressed the issues faced with gift certificates.
The Smithsonian magazine states that gift cards were first produced by the luxury departmental store Neiman Marcus in 1994. However, they did not market them to their consumers and hence, Blockbuster is officially considered the first company to market plastic gift cards to the masses. They test-marketed them in 1995 and launched them in the USA the next year. These gift cards replaced Blockbuster’s gift certificates and were processed by Nabanco of Sunrise, Florida.
From then, the gift card industry witnessed significant growth as the concept of gift cards extended to different renowned brands. Many other retailers adopted the gift card program in a bid to remove their gift certificate programs. Issuing cash cards instead of cash for non-receipted returns became a popular practice with merchants. In the year 2001, Starbucks was the first company to launch reloadable gift cards.
Gift Card Market Insight
Gift Card Market Revenue Worldwide
The global gift card market size was recorded at USD 437.78 billion in 2020. It is estimated to grow at a CAGR of 15.4% to reach a market size of USD 1396.01 billion between 2021 and 2028. According to regional market analysis, during the same period between 2021 and 2028, the Asia-Pacific Gift Card market is predicted to grow by a CAGR of 16.0% to generate a revenue of USD 301.54 billion. Between 2022 and 2027 India’s gift card market is expected to grow at a CAGR of over 19.1% to reach a market value of USD 93.96 billion by 2027.
Factors Impacting the Growth of the Gift Card Industry
Covid-19 Pandemic
The pandemic resulted in global lockdowns which in turn resulted in travel restrictions and financial market disturbances. It adversely affected every industry severely disturbing supply chains and production levels. The gift card market was no exception as the focus shifted from physical gift cards to digital gift cards as demand increased due to convenient availability and ease of use.
Increase in the Use of Smartphones
The rapid evolution of smartphones has ensured the increased innovation of gift cards. Smartphone penetration has provided customers with flexible and convenient payment options which, in turn, has boosted the gift card market. Modern technology and marketing strategies have created different ways for users to purchase digital gift cards as the industry moves from plastic cards to digital cards.
Advantages of Gift Cards
Be it digital or plastic cards, gift cards are a marketing strategy that is beneficial to businesses in multiple ways.
Raising Brand Awareness
Gift cards are a cost-effective promotion technique that keeps the brand at the forefront of the customer’s mind. Virtual gift cards can promote brand messages with online customers. As people purchase and deliver gift cards to friends and family for special occasions, the brand achieves higher visibility and more customers. Gift cards work as an effective marketing tool.
Increased Customer Engagement
The gift Card program is a customer engagement exercise that not only encourages and builds customer loyalty but also further markets the brand to new potential clients.
Boosts Sales
Gift cards have a set specific amount loaded onto them. However, most often, customers will purchase items higher in value than gift cards. It is a bargain for the customer as they pay for only a fraction of the value and the experience leaves them fulfilled.
Convenience and Reliability
The digital gift cards available today are reliable and convenient to use. They can be accepted online, in-store or in-app which makes them safe from loss, theft, or fraud.
Provide Useful Data
Data is equivalent to money in any business. Gift cards help collect vital customer data as brands learn about customer preferences through their usage.
Areas of Concern for Gift Cards
The primary area of concern for gift cards is their lack of security. The case in point was Distil Networks which discovered GiftGhostBot that attacked almost 1000 websites to find gift cards which led to a breach of access to their balance. Additionally, many companies, in an effort to roll out gift cards quickly and cheaply have, inadvertently, overlooked security risks that can allow any shopper to use money that is loaded on another shopper’s gift card. These security threats can prove to be a major hindrance to the gift card market growth.
Conclusion
The evolution of the Gift Card industry has been revolutionary. Their functions and benefits are immense. If the concern areas are addressed strongly, this is an industry that is set to grow exponentially in the coming years.
FAQs
What is a gift card?
A card entitling the recipient to receive goods or services of a specified value from the issuer is known as a gift card.
Who are the top online gifting startups in India?
Some of the top online gifting startups are Qwikcilver Solutions, Indigifts, Wedtree, BigSmall, Giftsvilla, and more.
What transactions are permitted by gift cards?
It can then be used to make any purchase for which payment is made electronically.
Amazon is one of the most influential economic and cultural forces in the world, as well as one of the most valuable brands. It focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Beyond that, it has permeated our lives deeply, especially in the last couple of years. It is the American multinational technology company, Amazon.com, Inc. Amazon founder Jeff Bezos is, currently, one of the most recognizable names on the planet.
He founded the company on 5th July 1994 from his garage in Bellevue, Washington. It was, initially, an online marketplace for books. Amazon quickly expanded into a multitude of product categories earning the moniker ‘The Everything Store. Initially named Cadabra, Inc. Bezos renamed it to Amazon as he wanted the company to be as ‘exotic and different’. In his initial days, Bezos reportedly told a journalist – “There’s nothing about our model that can’t be copied over time. But you know, McDonald’s got copied. And it’s still built a huge, multibillion-dollar company. A lot of it comes down to the brand name. Brand names are more important online than they are in the physical world.”
As a new start-up Amazon only sold books online because of its worldwide demand, low unit price, and large number of titles available in print. Within the first couple of months, the business grew to sell its books to all 50 states and over 45 countries. In October 1995, the company announced its intention to issue an Initial Public Offering (IPO). Within the next three years, Amazon was sued first by Barnes & Nobles in 1997 for claiming itself as the world’s largest bookstore and then by Walmart in 1998 for allegedly stealing trade secrets by hiring Walmart executives. Eventually, both lawsuits were settled out of court and Amazon implemented stricter internal policies and restrictions.
Initially, Amazon’s growth and profit were nominal leaving stockholders wary of investing or even the company’s survival prospects. When the dot-com bubble burst in 2001, Amazon not only survived the bloodbath but went on to post a modest profit in the fourth quarter of that year. This was a boost of confidence that eased the investors. From that point on, the unconventional business model of Jeff Bezos has not stopped growing till today. In 2020, Amazon generated sales worth USD 386 billion which were 38% higher than its sales in 2019 in the US alone. Amazon’s Marketplace sales represent an increasingly dominant portion of its e-commerce business.
Amazon Acquisitions
Within the time span of the last two decades, the tech behemoth has acquired or invested in at least 128 companies across the world. These companies belong to a wide plethora of industries from healthcare to entertainment, helping diversify their core revenue. It has also provided Amazon with inroads into better understanding their customer’s likes, dislikes, and preferences. The top ten Amazon Acquisitions by value are –
Company Name
Acquired On
Acquired For
Whole Foods Market
Jun 16, 2017
$13.7 billion
Metro-Goldwyn-Mayer
May 26, 2021
$8.5 billion
Zoox
Jun 26, 2020
$1.2 billion
Zappos
Jul 22, 2009
$1.2 billion
Ring
Feb 27, 2018
$1 billion
PillPack
Jun 28, 2018
$753 million
Twitch
Aug 25, 2014
$970 million
Kiva Systems
Mar 19, 2012
$775 million
Souq
Mar 27, 2017
$580 million
Quidsi
Nov 8, 2010
$545 million
Whole Foods
Revolutionizing the domain of grocery shopping, Whole Foods is an American multinational supermarket chain. Amazon acquired Whole Foods in 2017 for $13.7 billion. The acquisition added 400 physical stores to the set of e-commerce stores that Amazon already had. Additionally, the acquisition gave a huge impetus to the tech giant in the domain of grocery shopping, which was further used by Amazon to push people to purchase their Prime membership in return for the wonderful offers given.
MGM Studios
Founded in 1924, MGM Studios, or Metro-Goldwyn-Mayer, is a California-based studio that has produced many popular films, many of which have won academy awards as well. Some of their popular films include the James Bond franchise, the Rocky series, Robocops, Fargo, Silence of the Lambs, etc. In 2021, Amazon acquired MGM Studios for $8.5 billion. The deal was completed in March 2022.
Zoox
Zoox is a startup that develops self-driving technology with the aim of proving a full-stack solution for ride-hailing. In order to provide automatic self-driving capabilities, they use their own software and artificial intelligence, which has become a unique innovation in the arena of self-driving vehicles. They specifically focus on custom vehicle design, which they believe will be able to overcome the problems posed by self-driving vehicles. Amazon acquired the startup in 2020 for $1.2 billion.
Zappos
Zappos was founded by Tony Hsieh in 1999 as an online shoe seller after identifying the difficulties with which customers grappled due to the unavailability of the right size and desirable models. In 2009, Amazon bought Zappos for $1.2 billion.
Ring
Ring is a video doorbell and security camera maker that is worth more than $1 billion. They sell their products in the US, UK, and Europe. After establishing themselves as a reputable company in their area, they headed in the direction of the Internet of Things and in-home delivery spaces. In a deal that was valued at more than $1 billion, Amazon acquired Ring in 2018.
PillPack
It is an American pharmaceutical company that was founded in 2013 by TJ Parker and Elliot Cohen. By integrating novel technology into the midst of the business, the company saw tremendous growth over a short span of time. They were a step ahead of their fellow companies by demarcating their customers’ medications by dose and delivering them to their doorstep. In 2018, Amazon acquired PillPack for $753 million, and the company changed its branding from “PillPack, an Amazon company,” to “PillPack by Amazon Pharmacy.”
Twitch
It is a platform that allows users to stream their games to their followers so that they can watch them play the game. It was launched in 2011, focusing on live video gamers. In 2014, Amazon acquired the company for $970 million. Amazon’s purchase was a very prudent decision, foreseeing the pathbreaking interventions that the gaming industry and metaverse can have on humanity. With a vision to think differently, Jeff Bezos said that they were looking forward to offering better services for the gaming community.
Kiva Systems
It is a Massachusetts-based company that manufactures mobile robotic fulfillment systems. They innovated novel approaches in the distribution chain with the help of database systems and automated guided vehicles, which are also called bots. In 2012, Amazon acquired Kiva Systems for $775 million. Today, Kiva Systems is known as Amazon Robotics. This change came into effect in August 2015.
Souq
Launched in 2005 in Dubai, Souq was the largest e-commerce platform in the UAE. In 2017, Amazon acquired it for nearly $580 million. This acquisition gave Amazon tremendous anchoring in the Arab world through Souq’s 45 million visitors every month. By integrating Souq’s customer base and Amazon’s technical backing, customers can enjoy a wide range of product selections and seamless delivery.
Quidsi
Quidsy is an e-commerce company that was founded by Marc Lore, Vinit Bharara, and Wei Yan in 2005. This US-based firm aimed at revolutionizing the online shopping experience by improving every aspect of it, including 1-2 day delivery, the novel e-commerce experience, and excellent customer service. In 2010, Amazon acquired Quidsi for $545 million.
Other notable Amazon acquisitions since 1998 include IMDb, Alexa Internet, Twitch Interactive, etc. Some of the companies that Amazon has acquired over the years are now defunct.
Very recently, Amazon acquired iRobot for approximately USD 1.7 billion. iRobot is the company that makes Roomba vacuums. With this acquisition, Amazon has increased its footprint in individual households and deepened its penetration in the market.
Reasons for Acquisitions
Over the years, Amazon has grown from strength to strength and now is a global presence with deep market penetration. Its popularity has grown during the pandemic and the name has become synonymous with retail shopping.
There are various reasons why a company like Amazon acquires or invests in different companies.
Economies of Scale
‘Bigger is better is the ideology behind an acquisition for economies of scale. Larger companies enjoy better cost savings and competitive advantages than their smaller counterparts.
Market Share
This is the most common motive for an acquisition. Apart from reducing the competition, it also gives the company an immediate increase in market share and also a boost to its sales.
Acquire New Expertise / Technology
Over time, newer technologies get introduced introducing newer ways to work. Therefore, it becomes necessary for companies to also evolve and embrace the changes. One way to do it is to acquire companies that provide this technology and expertise.
Similar Synergies – Creating Value
Many times, the logic of acquiring a new company makes more sense than the numbers. This is clearly visible in Amazon acquiring Whole foods and trying to bring the power of ecommerce to traditional food retail.
Geographical Diversification
This is a huge value driver in acquisitions. Acquisitions are the much-preferred way to expand geographically as the company can acquire a ready cash-generating entity with a ready business platform. It is also financially beneficial to the higher costs of setting up a new operation from scratch.
Vertical Integration
This type of acquisition creates a new addition to the value chain of a company. It reduces dependency on third party suppliers and vendors.
Conclusion
Over the years, Amazon has successfully integrated various products into its portfolio by acquiring several companies for one or more reasons as mentioned above. Amazon’s sprawling eCommerce empire is a result of far-sightedness, a futuristic approach, and an adaptable business model.
With the world shifting to the online retail platform, Amazon shows no signs of slowing down. It has, in fact, expanded its operations and offers a wide network of services.
FAQs
What is Amazon’s largest acquisition?
The acquisition of Whole Foods Market by Amazon in 2017 is the biggest company take-over by Bezos’s corporation to date, with a whopping tag price of 13.7 billion U.S. dollars.
What companies are related to Amazon?
Among its 12 subsidiaries, Amazon has AbeBooks.com, Audible, CamiXology, Fabric.com, IMDb, PillPack, Shopbop, Souq.com, Twitch, Whole Foods Market, Woot!, and Zappos.
Did Amazon have any mergers?
Amazon has made 98 acquisitions and 95 investments. The company has spent over $ 46.19B on the acquisitions.
Who is Amazon’s biggest competition?
Its biggest retail competitors are Alibaba, eBay, Walmart, JD, Flipkart, and Rakuten.
What is Amazon’s net worth in 2022?
Amazon’s net worth as of November 25, 2022, is $952.94B.
They are cool, young, smart, working-from-home individuals who have money, fame, success, and notoriety. They are the new-age professionals called social media influencers. These social media influencers are students who are either still studying or have left their education or have studied to become an influencer. They are a different breed from the traditional influencers who were either social activists, intellectuals, politicians, or change-makers in society.
As per Meta (formerly Facebook), they have seen a year-on-year rise of 35% in the number of social media influencers in India as of September 2021. One of the fastest growing industries globally, the influencer marketing industry in India has valued at INR 900 crores and is expected to grow at a CAGR of 25% to reach INR 2200 crores by 2025.
Reasons for the Rising Popularity of Social Media Marketing
1. Targeted Audience
This is one of the biggest advantages for brands as they can choose influencers based on real-time data. Brands can access the age group that the influencer is targeting, their interests, gender, etc. Celebrity marketing on television targets a wide section of the audience without understanding its relevancy.
2. Cost Effectiveness
This is the bottom line for any business. As an industry, influencer marketing is in a nascent stage and the competition between influencers affects the cost of collaborations. Brands are able to collaborate with many influencers with the same budget and reach a more relevant audience. The value for money in this case is higher.
3. Ease of Platform
Instagram, YouTube, or Tiktok as platforms are free of cost. Brands can advertise their products either with a single photo or a video that reaches audiences without it weighing heavily on the company’s pockets.
4. Trust
Influencers have already built a loyal audience that trusts them. Brands depend on this trust that is automatically transferred to them on the influencer’s advice. Influencers are protective of their audience and are wary of promoting products that are questionably in quality.
The Growth of Influencer Marketing in India
Social Media Influencers Demographics
It was in the year 2014 when the concept of Branded Content came into existence around the world. In India, 2016 was the year when social media influencers gained prominence as brands began considering influencer marketing as a strategy. Niche marketing and content-driven marketing were formulated and utilized. Brand success suddenly depended heavily on a combination of the authenticity of the product and the credibility of the influencer.
The sharp growth of influencer marketing and brand collaborations on apps like Instagram and YouTube was seen in the year 2019. Since then, it has steadily grown as brands have shown a growing preference for collaborating with influencers on the internet rather than proceeding with celebrities for television advertisements.
By 2021, Influencer marketing on social media has taken over 73% of the market share leaving only 27% for celebrities. Additionally, the behemoth has grown from traditional sectors like food and beverage, personal care, fashion, and technology to now include sectors like BFSI and fintech too.
How do Influencers Help
Influencers affect all the levels of the funnel metrics including lead generation and conversion. They drive user engagement by using social media tools like sharing links to product pages, using influencer-specific discount codes, and posting reviews of true use. Brands can trace the influencer by their efforts to generate leads or encourage sales.
Even within the BFSI sector brands are collaborating with influencers as people are increasingly relying on them to understand personal finance, discover new BFSI services as well as make important financial decisions.
Over the years, brands have come to heavily rely on value addition through influencer marketing which is much higher than other marketing gimmicks. As per the India Influencer Marketing Report of 2021, 80% of the brands that have collaborated with influencers are of the opinion that the return on investment from influencer marketing is better than other marketing channels.
Governing the Influencer Marketing Sector
Rules for social media influencers, up to $62,000 fine for failing to disclose financial ties
With the sector growing leaps and bounds, there are genuine concerns regarding dubious market practices in absence of any governing body for Social Media Influencer Based Marketing. In July 2021, the Advertising Standards Council of India (ASCI) had begun monitoring digital and social media platforms in an effort to reign in violations of its Influencer Advertising Guidelines.
By May 2022, ASCI along with the Department of Consumer Affairs held a virtual meeting with the stakeholders including e-commerce entities, to discuss the magnitude of fake reviews on their platforms.
As early as last week, the central government has decided to introduce a new set of guidelines for social media influencers in an effort to regulate the sector by introducing transparency of collaborations. The new guidelines are likely to be rolled out within the next two weeks. Among other regulations, the government will make it mandatory for social media influencers and creators to disclose their collaborations for paid reviews and paid promotions. The guidelines would also penalize the creators and influencers up to INR 50 lakhs for non-disclosure of financial ties with brands.
What are the Influencers saying about Guidelines?
The central government’s move to introduce these guidelines has met with unanimous consent from several content creators and influencers. They feel that these guidelines will encourage transparency in sponsorships as well as induce responsibility in large platform product promotions and curb scams. This move will also bring more clarity to users while recognizing social media influencers as legitimate professionals.
Conclusion
Influencer marketing in India will grow and continue to evolve as more and more brands are utilizing this platform for brand awareness and customer acquisition. With India’s vibrant startup ecosystem and bigger established brands looking to expand their customer base, influencer marketing is set up for a bright future as it continues to innovate and upgrade itself.
FAQs
Can we regulate influencer marketing?
The government is set to introduce rules to regulate social media influencers, including penalizing them by as much as ₹50 lakh for failing to disclose financial ties with brands, Central Consumer Protection Authority (CCPA) chief commissioner Nidhi Khare said.
What makes a good social media influencer?
The best influencers engage with their audience, take time to answer questions, stay active on their respective platforms and publish content consistently.
What kind of content do influencers post?
Nowadays, video is perhaps the most popular kind of content they post.
What content is not allowed on Instagram?
Instagram is not a place to support or praise terrorism, organized crime, or hate groups. Offering sexual services, buying or selling firearms, alcohol, and tobacco products between private individuals, and buying or selling non-medical or pharmaceutical drugs are also not allowed.
Freedom of Choice – something that was once considered a privilege bestowed only on a select few earlier, is now a reality for all irrespective of their background. Unlike in old times, when choices were limited, we should certainly consider ourselves lucky in the present times.
This can be further witnessed in the advancement of easy access to financial products that help fulfil our dreams – one such being availing a Personal Loan. Let’s learn what it is, how it can be used, and what you should consider before choosing a lender.
What is a Personal Loan?
A Personal Loan is a type of unsecured loan, which means you don’t need to put up any assets as collateral. It is an excellent financial choice for those who wish to fulfil their goals or ambitions using that capital. It can also be used for necessary financial assistance during emergencies or unforeseen circumstances.
A Personal Loan can be used for:
Funding Higher Education – With a Personal Loan, you won’t have to compromise on getting the best in education for yourself or your family.
Financial Assistance During Medical Emergencies – It is important to stay prepared and know where to find the right financial assistance during a medical emergency. You can avail of a Personal Loan instantly and pay off your medical expenses.
Paying for Travel or a Vacation Abroad – Now you can explore your favourite destinations without worrying about the cost of travel. A Personal Loan can fulfil all your travel and vacation goals while you get to focus on the fun part.
Arranging your Dream Wedding – With a Personal Loan, you can arrange your dream wedding and cover its expenses in a stress-free manner.
Renovating/Repairing your Home – Home renovations or repairs are required to keep your house in a good condition. A Personal Loan can help you fund your home renovation requirements without burning a hole in your pocket.
To get a Personal Loan, you need to make sure you find the right lender. This ensures that you get the offer that best suits your needs. Let’s find out how.
The Top 7 Factors to Consider Before Choosing a Personal Loan Lender in India
Here are the major factors you should know about before choosing the right Personal Loan Lender:
Loan Processing Time – First, find out how quick is the loan processing from application to disbursal. A swift disbursal process ensures that you receive the required funds on time to fulfil your specific purpose.
Loan Amount – Next, find out how much you can avail of from a Personal Loan. You can get up to ₹30 Lakh, depending on the lender and the end purpose for which you require funds.
Tenure – The repayment tenure for a Personal Loan is important as it determines your EMIs. Some NBFCs offer flexible repayment tenure that ranges from 12 to 60 months. This will give you enough time to repay your loan within the specified period.
Interest Rate – You should choose a lender that offers Personal Loans at affordable interest rates. With a low-interest Personal Loan, you can also reduce your EMIs and plan your budget appropriately.
Fees & Charges – Choose a lender that charges only nominal loan processing fees over those that charge higher fees. Also keep an eye on the foreclosure and part payment charges lenders might be taking. It is best to take loan from a lender who don’t charges anything for the same. The standard fees & charges for a Personal Loan offered by some NBFCs is up to 2% of sanction amount plus applicable taxes.
Personal Loan Eligibility Criteria – Check the eligibility criteria of the lender before applying for the loan. Easy eligibility criteria of the lender will help to get the loan processing done quickly. The Personal Loan eligibility criteria usually include: – Applicant’s age – Applicant’s citizenship. – Applicant’s job status. – Applicant’s job experience and stability. – Applicant’s monthly net take-home salary and obligations.
Documentation/Paperwork – Check the list of documents required by lenders to verify the borrower’s details before approving a loan. Any lender who is asking for many documents will delay the process of loan approval. The basic documents needed from borrowers include: – KYC documents like Aadhaar/PAN Card. – Current address proof (Passport/Utility bills/Rent Agreement). – Latest salary slips and salary credit bank statement from the last 3 months. – Proof of employment, such as official mail ID confirmation /Emp ID Card.
Conclusion
Now that you are aware of what to look for before choosing a Personal Loan Lender in India, choose wisely. Go ahead and kickstart your journey towards fulfilling your dreams.
The article has been published in collaboration with the Treebo Team
Are you looking for hotels that suit your business travel plan? In this article, we are going to tell you the best features if you are going for business. When traveling for work, it’s essential to be comfortable and have all the facilities you need.
However, there are a lot of facilities available to you in different kinds of hotels, which can be exhausting to search around them, and if you don’t narrow the amenities down it will charge you a hefty amount just for a night.
Searching for hotels like hotels near me, you can some great options where you won’t have to suffer with any such problems. However, you need to know what you should look for while finding a hotel for your business travel. Here are five features that business travelers need in their hotel rooms.
An Example- Hotels highlighting the feature of Wi-Fi through their online booking options.
With most hotels providing free WiFi to their guests, it’s easy to stay connected while on the road. The last thing you want is to be disconnected while on an important business call or checking your email.
Comfortable Beds
After a long day of meetings or sightseeing, having a comfortable bed is essential to relaxing after a long day. Business travelers should look for hotels that have high-quality mattresses and bed linens to ensure a comfortable night’s sleep.
Desk and Workspace
An Example- The hotel Mama Shelter Prague, Czech Republic has a different setting for workspace as shared in the pic
After the introduction of the pandemic, working remotely is essential for many business people when traveling, so having a dedicated desk space is essential. Look for a hotel with a desk and chair that is large enough to comfortably fit your laptop and other work equipment.
Quiet Surroundings
When you’re traveling for business the last thing you want to do is spend all your time in your room working. Look for a hotel that offers a quiet environment so you can get some rest at the end of the day without feeling like you’re holed up in your room. As per the study conducted and published by fair-point.com, 58% of business travelers search for quiet and comfy surroundings in their hotel.
A Gym or Pool
The graph shows the need of a gym by business traveler asper the study done by the source.
Many business travelers don’t travel for fun so they use their time away from their office to exercise. Look for a hotel that has a gym or pool so that you can stay active while you’re away.
Having these key features in your hotel accommodation can make your business trip much more enjoyable and provide you with everything that you need to relax and enjoy your stay.
The features of a newly built property are highly sought after by travelers who wish to book a stay at one of the newest and most luxurious properties in their destination of choice.
These features can include a fitness center with all the latest machines and free weights, an on-site restaurant serving delicious gourmet food, a sleek and spacious lobby, and even an on-site spa where you can treat yourself to a relaxing massage after a long flight or exhausting day spent sightseeing.
Despite the appeal of these properties, many people are still hesitant to book a stay at one of these new properties for fear that they may be less comfortable than a “traditional” hotel.
However, this is not true at all! While traditional hotels may have gotten comfortable with offering little more than a bed in the room and a toilet down the hall, the newly built properties are taking it to the next level by providing their guests with the complete package – quite literally.
When staying at a property that has just been built, you can rest assured that you will be sleeping in luxury and enjoying all the conveniences of modern life right at your fingertips. Furthermore, these features are state-of-the-art, meaning that they will be extremely reliable and efficient throughout your entire stay.
It also offers great discounts, and it provides all the facilities that are promised for a certain hotel. You can even filter down the amenities that you want so that you can get the best deal. To find such great deals, visit Treebo’s website and search for the hotels in the city you want to stay in.
Conclusion
At last, we would like to suggest choosing only those amenities which are needed for you. Choosing unnecessary amenities can chase you a hefty amount. However, if you want to experience a new thing then you should go for it. We hope you have a good stay and we hope this article might have helped you.
FAQs
What are 4 ways to attract customers?
The most common yet appreciable ways to attract customers are opening a travel blog, offering promotions and discounts, advertising about the highlights, and providing excellent customer service.
What do leisure travelers want in hotels?
Leisure travelers mainly look for a comfortable bed and a clean environment, Apart from that they might also be interested in having sports and gaming facilities in the hotel with a good staff that can eventually increase their overall satisfaction rate.
What are the important features of a good hotel?
The important feature of a good hotel is a long list that fully covers the visit of a customer to the hotel. It starts from a simple and hassle-free booking to the checkout of the customer with no bad impression due to hotel staff. It involves features like knowledgeable staff, excellent food and beverages, good customer support, excellent on-site service, and many other similar things.
What do travelers look for in a hotel?
Some of the points that a traveler looks for in a hotel are a good location, free wifi, 24-hour assistance, onsite dining options, business-related facilities, multiple areas, etc.
India is home to some insanely wealthy families and individuals well-known across the globe. India has the third largest group of rich people after the US and China. In 2022, the combined wealth of India’s 100 richest increased by $25 billion to touch $800 billion. StartupTalky has compiled an exhaustive list of the top richest people in India . Their net worth is based on the data from 2022 available on their respective Forbes profiles.
Founder – Adani Group Net Worth – $150 Billion Industry – Diversified
Gautam Adani, Founder of Adani Group | Top Richest Indians
Gautam Adani is an Indian billionaire industrialist and stands in the first position on the list of the top richest Indians in 2022. He is the chairman and founder of the Adani Group. The Adani Group is an Ahmedabad-based conglomerate involved in port development and operations in India. He is also the president of the Adani Foundation which operates to nurture communities in four chosen areas—education, healthcare, sustainable livelihood, and rural infrastructure development.
The Adani Group was formed in 1988 and has business interests in the resources, logistics, energy, agriculture, defence, and aerospace sectors. Gautam Adani holds a 66% stake in Adani Ports & SEZ Limited, a 75% stake in Adani Enterprises, a 73% stake in Adani Power, and a 75% stake in Adani Transmission. He was ranked as the 4th most powerful person in India by India Today Magazine in 2017.
Gautam Adani was born on 24 June 1962 in a Bania family in Ahmedabad, Gujarat. He did his schooling at Seth CN Vidyalaya in Ahmedabad. He is a B.Com dropout from Gujarat University. The Adani group’s venture into Australia after a nine-year wait is expected to bring huge windfalls for the billionaire.
Mukesh Ambani
Chairman – Reliance Industries Net Worth – $88 Billion Industry – Diversified
Mukesh Ambani – Chairman and Managing Director of Reliance Industries | Top Richest Indians
Mukesh Ambani is an Indian billionaire businessman and stands in the second position on this list, as of 2022. He is the chairman and managing director of Reliance Industries Limited (RIL). Reliance Industries mainly deals in refining, petrochemicals, and activities in the oil and gas sector. Mukesh Ambani has diversified his reach in the Indian market through several ventures, racing ahead in his net worth and influence exerted over India’s developing economy. Reliance Retail—which offers foods, groceries, apparel, footwear, lifestyle, home improvement products, electronic goods, and farm implements—is one of his group’s recent offerings. The Ambani family is also the owner of Mumbai Indians, an IPL franchise. Mukesh Ambani also owns Reliance Jio Infocomm Ltd. which took the telecom sector in India by storm and toppled the monopoly of the oldest players in the domain.
He was ranked 13th on the list of the world’s richest people as of May 2019. He has a stake of approximately 50% in Reliance Industries. Ambani surpassed Jack Ma, founder and executive chairman of Alibaba Group, to become Asia’s richest person with a net worth of $44.3 billion in July 2018. Mukesh Ambani is known to make headlines every now and then for the right reasons—Saudi Arabia-based Aramco buying a 20% stake in RIL for a whopping $15 billion, and him completing a 100% acquisition of Hamleys through Reliance Brands, a subsidiary of Reliance Industries.
Mukesh Ambani’s Life, Biography, and History
Mukesh is the oldest son of Dhirubhai Ambani and has a younger brother, Anil Ambani, whose downhill journey to oblivion is known to all. Mukesh Ambani was born on 19 April 1957 in Aden, Yemen and brought up in Mumbai. He graduated in Chemical Engineering from the Institute of Chemical Technology. He is an MBA dropout from Stanford University. Mukesh is a fan of Bollywood movies and watches three movies a week. He quips, “You need some amount of escapism in life.”
Radhakishan Damani
Founder – DMart Net Worth – $27.6 Billion Industry – Retail, Investments
Radhakishan Damani, Founder of DMart | Top Richest Indians
Radhakishan Damani founded the DMart chain of supermarkets. His retail chain accounts for more than 90 stores across India and is the third biggest in the industry. He has the ownership of a 65.2% stake in Avenue Supermarts, the parent company of DMart. His investment company, Bright Star Investments, holds another 16% stake.
Radhakishan Damani is known as Mr. White for his simplistic way of life coupled with high thinking. He is also a stock investor, broker, and trader. Radhakishan is well-known for his acumen and shrewdness as an investor.
Damani was born in 1945 in a Marwari family in Bikaner, Rajasthan. He enrolled for a bachelor’s degree in commerce but dropped out after the first year.
Cyrus Poonawala
Chairman – Poonawalla Group Net worth – $21.5 Billion Industry – Healthcare
Cyrus Poonawalla, Chairman of Serum Institute of India | Top Richest Indians
Cyrus Poonawalla is a self-made Indian tycoon. He is the founder of the Poonawalla Group. Cyrus comes from a family that is deeply connected with horse breeding. However, his keen interest in the field of medicine led him to create one of the world’s largest vaccine manufacturing and biotech companies – Serum Institute of India.
Cyrus Poonawalla was awarded the Padma Shri for his work and contributions made in the field of medicine. He was also awarded the Life Time Achievement award by the then-Prime Minister Of India, Dr. Manmohan Singh. With a net worth of $8.3 billion, Cyrus Poonawala is the 170th richest person on earth.
Shiv Nadar
Founder – HCL Net worth – $21.4 Billion Industry – Software Services
Shiv Nadar, Founder of HCL | Top Richest Indians
Shiv Nadar is the Chairman Emeritus and founder of HCL and established the Shiv Nadar Foundation. He is a prominent industrialist and philanthropist. Nadar has committed more than $1 billion to philanthropy. He is ranked 5th in the Forbes list of richest persons in India (2022).
Nadar founded HCL in 1976. Nadar was honoured with the third highest civilian award, Padma Bhushan, by the Government of India in 2008. Madras university conferred upon Shiv Nadar an honorary doctorate degree in the year 2007. He was present in Forbes’ 48 Heroes of Philanthropy in the Asia Pacific in 2011.
Nadar was born on 14 July 1945 in Tamil Nadu. He currently lives in New Delhi. He pursued his degree in Electrical and Electronics Engineering from Coimbatore. Nadar is called “Magus” by his friends (meaning ‘wizard’ in Persian).
Savitri Jindal
Chairperson – O.P. Jindal Group Net Worth – $16.4 Billion Industry – Metals and Mining
Savitri Jindal, Chairperson of O.P. Jindal Group | Top Richest Indians
Savitri Jindal is the Chairperson Emeritus of the Jindal group that deals with steel, power, mining, and the oil and gas domains. The Jindal group is well-known in the manufacturing industry (every Indian knows about Jindal Steels). Savitri took over the company after the death of her husband OP Jindal in 2005 who founded the Jindal Group. After taking charge as the chairperson, the revenue of the company quadrupled.
Savitri Jindal is the richest woman in India. She was the world’s 453rd richest person in 2016. She is also the world’s seventh-richest mother. Savitri was a Minister in the Haryana Government and a member of the Haryana Vidhan Sabha from Hisar constituency.
She was born in Tinsukia, Assam and presently lives in Hisar, Haryana. She holds a diploma degree in Education. Her son Naveen is constantly in the limelight for his success as a businessman. She has nine children with Om Prakash Jindal.
Dilip Shanghvi
Founder – Sun Pharmaceuticals Net Worth – $15.5 Billion Industry – Healthcare
Dilip Sanghvi, Founder of Sun Pharma | Top Richest Indians
Dilip Sanghvi is the founder of Sun Pharmaceuticals which manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. He started the company in Vapi in 1982 with a capital of Rs. 10,000. Sun Pharma is the largest pharmaceutical company in India and the fifth largest in the world. Its drugs have always been in high demand with the major markets being India, the USA, and Japan.
Dilip Sanghvi was honoured with the Padma Shri in 2016. He is also a trustee of the Rhodes scholarship programme at Oxford University. He was appointed by the Indian government to the RBI’s 21-member central board committee.
Dilip Sanghvi was born on 1 October 1955, in Amreli, Gujarat. He pursued B.Com from the University of Calcutta. He did his schooling and graduated from J. J. Ajmera High School and Bhawanipur Education Society College respectively. Dilip Sanghvi is unanimously considered the richest businessman in the drug and pharma sector.
Hinduja Family
Ownership – Hinduja Group Net Worth – $15.2 Billion Industry – Diversified
Hinduja Family, Hinduja Group | Top Richest Indians
The Hinduja Group is one of the biggest Indian businesses with a strong international presence. Founded by Parmanand Deepchand Hinduja, the company is now run by his sons Shrichand, Gopichand, Prakash, and Ashok. Though the Hindujas are Indians, they have soaked in success while staying outside the country. The company headquarters is situated in London. This is also the reason behind the Hinduja Group featuring among the wealthiest companies in Britain.
Kumar Managalam Birla
Chairman – Aditya Birla Group Net Worth – $15 Billion Industry – Diversified
Kumar Birla, Chairman of Aditya Birla Group | Top Richest Indians
Kumar Birla is an Indian industrialist and the chairman of the Aditya Birla group. He is an educationist as well. Kumar Birla is the chancellor of the Birla Institute of Technology & Science (BITS). He is the chairman of IIT Delhi, IIM Ahmedabad, and the chairman of the Rhodes India Scholarship Committee for Oxford University. Kumar serves on the Asia Pacific Advisory Board of the London Business School and is an honorary fellow of the London Business School.
Kumar Mangalam Birla handed over the reins of the Birla Group at the age of 28 after the demise of his father in 1998. Under him, the company expanded from being valued at $3.33 billion in 1995 to $41 billion in 2015. He was felicitated with the “CEO of the Year” award by the International Advertising Association, and the Economic Times’ “Business Leader Award” in 2003 and 2013.
He was born on 14 June 1967 in Calcutta and brought up in Mumbai. He studied B.Com from the HR College of Commerce and Economics, has an MBA degree from the London Business School, and is a chartered accountant from the ICAI (India).
Bajaj Family
Ownership – Bajaj Group Net worth – $14.6 Billion Industry – Diversified
Bajaj Family Owners of Bajaj Group | Top Richest Indians
The Bajaj Group owns 40+ companies and the group’s flagship company—Bajaj Auto is ranked as the fourth largest two- and three-wheeler manufacturer in the world. The Bajaj Group is involved in industries such as home appliances, lighting, iron and steel, insurance, travel, and finance.
Bajaj Group was founded by a Rajasthani Marwari businessman, Jamnalal Bajaj, in 1926. Rahul Bajaj, the grandson of Jamnalal Bajaj, the late patriarch and former chairman, shared the family fortune with cousins. Following the passing of the patriarch in February 2022, Rajiv Bajaj, Rahul Bajaj’s older son, now leads Bajaj Auto, while Sanjiv Bajaj, Rahul Bajaj’s younger son, manages Bajaj Finserv—the family’s most significant asset.
Sanjiv Bajaj, Chairman and MD of Bajaj Finserv, leads the financial conglomerate within the Bajaj Group with 9M consolidated revenue of over Rs 58,447 crore ($7.14 billion)* and Rs 4,648 crore ($568 million)* profit after tax for FY2022-23. Under his leadership, Bajaj Finserv has emerged as a leading diversified financial services company in India, offering lending, insurance, and wealth advisory solutions.
Sanjiv Bajaj chairs Bajaj Finance, Maharashtra Scooters, Bajaj Finserv Asset Management, and Bajaj Housing Finance, among others. His contributions to the financial services sector have been widely recognized, including being honored as AIMA’s Transformational Business Leader 2023, among other prestigious honors.
Founder – Bharti Enterprises Net Worth – $14.5 Billion Industry – Telecom
Sunil Mittal, Founder of Bharti Enterprises | Top Richest Indians
Sunil Mittal is the founder of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, agriculture, and food. He was among the early birds who identified the potential in the mobile telecom business and came up with Airtel; Sunil dominated the telecom segment in India through Airtel until Mukesh Ambani stepped in with Jio. Bharti Airtel, a subsidiary of Bharti Enterprises, manages Airtel and is currently focusing on Asia and the African regions.
Sunil Mittal was awarded the Padma Bhushan in the year 2007. He was then elected as chairman of the International Chamber of Commerce in 2016. He is no stranger to laurels and recognition, having been the recipient of awards like Telecom Person Of The Year by Telecom Asia Awards, and Business Leader Of The Year by Economic Times to name a few.
Born on 23 October 1957 in Ludhiana, Punjab, he completed his education at Arya College and Punjab University. At the age of 18, he started his first business by borrowing Rs. 20000 from his father. His father was an MP from Ludhiana.
Uday Kotak
Founder – Kotak Mahindra Bank Net Worth – $14.3 Billion Industry – Finance and Investments
Uday Kotak, Founder, MD, and CEO of Kotak Mahindra Bank | Top Richest Indians
Uday Kotak is the founder, MD, and CEO of Kotak Mahindra Bank Ltd. Kotak Mahindra Bank. Anand Mahindra lent Rs. 1 lakh to Uday Kotak to start a financial services firm 30 years ago.
He was recognized as the “Most Powerful Person in The Financial World” by Forbes in May 2016. India Today magazine ranked him 8th in India’s most powerful person list of 2017. He was also the Ernst and Young World Entrepreneur of the Year in 2014.
Born on 15 March 1959 in Mumbai, Uday Kotak was brought up in an upper-middle-class Gujarati-Lohana joint family. He pursued his bachelor’s degree from Sydenham College of Commerce and Economics and holds an MBA degree from Jamnalal Bajaj Institute. He is a math wizard and topped his university in B.Com.
Shapoor Mistry and Family
Chairman – Shapoorji Pallonji Group Net Worth – $14.2 Billion Industry – Diversified
Shapoor Mistry, Chairman of Shapoorji Pallonji Group | Top Richest Indians
After the death of Pallonji Shapoorji Mistry and his younger son, Cyrus Mistry earlier in 2022, Shapoor Mistry (Pallonji Shapoorji’s elder son) now runs the Shapoorji Pallonji Group. He serves as the Chairman of the Shapoorji Pallonji Group. The family holds also holds an 18.4% stake in Tata Sons.
Shapoor Mistry, the patriarch’s older son and group Chairman, now oversees the family’s $14.2 billion fortune, which is primarily derived from a minority stake in the sprawling Tata conglomerate.
Godrej Family
Ownership – Godrej Group Net Worth – $13.9 Billion Industry – Diversified
Adi Godrej, Chairman Emeritus of Godrej Group | Top Richest Indians
The Godrej company has existed since 1897 and is present in almost every imaginable sector of the Indian economy. The company was founded by Pirojsha and Ardeshir Godrej. The empire is now run by their grandsons Adi, Nadir, and Jamshyd. Adi Burjorji is the head of the Godrej family and the chairman of the Godrej Group. He has been the chairman of the Indian School of Business since April 2011.
Ardeshir decided to make locks after seeing the crime rates in 1897. His brother joined him in his venture and the rest is history. Smita Godrej is a third-generation heir of the Godrej family. On a lighter note, almost every family in India still has a Godrej almirah that’s at least 20 years old!
Lakshmi Mittal
Chairman – ArcelorMittal Net Worth – $13.8 Billion Industry – Metals and Mining
Lakshmi Mittal, Founder and Chairman of ArcelorMittal | Top Richest Indians
Lakshmi Niwas Mittal is an Indian steel magnate, Founder, and Chairman of ArcelorMittal. He is the owner of Karrick Limited and the co-owner of Queens Park Rangers F.C. He is popularly known as the King of Steel. In 2007, he became the richest Asian in Europe. His empire has been subjected to a minor slowdown after the acquisition of an Italian company but Lakshmi Mittal continues to grow every day with his companies consistently reporting double-digit growth year in, and year out.
Lakshmi Niwas Mittal is on the board of directors of the European Aeronautic Defence and Space Company. He is a member of the independent board of directors at Goldman Sachs since 2008. He is also associated with several charities and firmly supports the development of Indian athletes.
Lakshmi Mittal was born on 15 June 1950 in Sadulpur, Rajasthan to a traditional Marwari family. He currently resides in London. He pursued his B.Com degree from St. Xavier’s College, Calcutta. Mittal is known for his lavish lifestyle and incredible success statement; the steel tycoon spent approximately $60 million on his daughter Vanisha Mittal’s nuptials. The spectacle features in Forbes’ top ten most outrageous billionaire weddings.
Madhukar Parekh
Chairman – Pidilite Industries Net Worth – $12.6 Billion Industry – Manufacturing
Madhukar Parekh, Chairman of Pidilite | Top RIchest Indians
Madhukar Balvantray Parekh is the chairman and executive director of Pidilite Industries, an organization dealing in adhesives and construction chemicals. Fevicol, Dr. Fixit, M-Seal, Fevikwik, and Fevistik are some of the big names in the Pidilite chain.
Parekh serves as the Chairman, executive director, and MD of Vinyl Chemicals India Limited. He is also an independent non-executive director of Excel Industries Limited. Under his leadership, the company won many prestigious awards such as the ‘Most Promising Company of the Year’ at CNBC, and the 11th India Business Leader Awards.
Madhukar was born in 1945 in Mumbai. He currently lives in Mumbai. Parekh is a Gold medalist holder from the Institute of Chemical Technology (ICT), a leading chemical technology research institute in India. His father Balvantray Kalyanji Parekh was the founder of Pidilite Industries. Balvantray was popularly known as ‘India’s Fevicol Man’.
Burman Family
Ownership – Dabur India Net Worth – $9.6 Billion Industry – Consumer Goods
Burman Family, Dabur | Top Richest Indians
The Burman family is responsible for giving us Indians Dabur Chyawanprash, a health product that graces the kitchen shelf of every other Indian. An Ayurvedic practitioner Dr. S.K. Burman started the business in the 1880s. His son then went on to set up a research and development facility and also began the mass production of medicines in 1884. Dabur Ltd. is presently handled by the fifth generation of the Burman household. However, Fresenius SE which is based out of Germany controls more than 73.3% of Dabur Pharma Ltd.
Azim Premji
Founder – Wipro Net Worth – $9.3 Billion Industry – Technology
Azim Premji – Founder of Wipro | Top Richest Indians
Azim Premji is referred to as the Czar of the Indian IT Industry. He is an Indian billionaire, business tycoon, investor, philanthropist, and the founder of India’s third-largest software company—Wipro Limited. Wipro Limited is an India-based IT, consulting, and business process services (BPO) company headquartered in Bengaluru, India. Azim Premji is also the richest person in Karnataka.
The Government of India honoured Azim Premji with Padma Bhushan in 2005 and awarded him the Padma Vibhushan, the second highest civilian award, in 2011 for his excellent work in the field of trade and commerce.
Premji was born on 24 July 1945 in Mumbai and currently resides in Bangalore. Premji pursued Electrical Engineering (equivalent to a Bachelor of Engineering) from Stanford University, USA. He took over his family’s cooking oil business after the death of his father in 1966. He is also the first Indian to sign up for The Giving Pledge, a campaign led by Bill Gates and Warren Buffett. The Giving Pledge focuses on encouraging the wealthiest individuals to give away most of their money to philanthropic causes.
Kushal Pal Singh
Former Chairman – DLF Ltd. Net Worth – $8.8 Billion Industry – Real Estate
Kushal Pal Singh, Chairman Emeritus of DLF | Top Richest Indians
Kushal Pal Singh is the former CEO and chairman of DLF Limited. DLF Ltd. (Delhi Land and Finance) is India’s largest commercial real estate developer. DLF Limited was founded by his father-in-law Chaudhary Raghvendra Singh.
Singh was honoured with Padma Bhushan Award on 26 January 2010 by the Government of India. He was recognized by Forbes magazine as the richest real estate baron and the eighth richest person in the world on 24 March 2008.
KP Singh was born on 15 November 1931 in Uttar Pradesh. He did Aeronautical Engineering in the UK and was also selected for the Indian Army by the British Officers Services Selection Board, UK. An Autobiography named ‘Whatever the Odds: The Incredible Story Behind DLF’ was launched in 2011.
Ashwin Dani
Non-Executive Director – Asian Paints Ltd. Net worth – $8.4 Billion Industry – Manufacturing
Ashwin Dani, Non-Executive Director of Asian Paints | Top Richest Indians
Ashwin Dani is a businessman and the non-executive Director of India’s largest paint company, Asian Paints Ltd. His full name is Ashwin Suryakant Dani. He won the Color Society Lifetime achievement award in the year 2012.
Ravi Jaipuria
Chairman – RJ Corp Net worth – $8.1 Billion Industry – Manufacturing
Ravi Jaipuria, Chairman of RJ Corp | Top Richest Indians
Ravi Jaipuria is an Indian billionaire businessman and Chairman of RJ Corp. Under RJ Corp, he manages Devyani International which operates many large beverage and fast food brands like KFC, Pizza Hut, and more.
Varun Beverages, the other listed company under RJ Corp, is the second-largest bottling partner for PepsiCo’s soft drink brands. Ravi is famously known as India’s cola king.
Kuldip Singh & Gurbachan Singh Dhingra
Owners – Berger Paints India Net worth – $6.8 Billion Industry – Manufacturing
Kuldip Singh (left) and Gurbachan Singh Dhingra, Berger Paints | Top Richest Indians
The brothers control India’s second-largest paint maker company, Berger Paints. Kuldip Singh and Gurbachan Singh bought Berger from Vijay Mallya. Kuldip Singh serves as the Chairman and Gurbachan Singh Dhingra serves as the Vice Chairman of Berger Paints India.
Vikram Lal
Founder – Eicher Motors Net Worth – $6.6 Billion Industry – Automotive
Vikram Lal, Founder and Former CEO of Eicher Motors | Top Richest Indians
Vikram Lal is the founder and former CEO of Eicher Motors which manufactures motorcycles and commercial vehicles. He is also the president of Common Cause, a public interest NGO pursuing major issues relating to reform, governance, and the enforcement of the law.
Eicher Motors is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. Eicher Motors holds a majority stake of 60% in Royal Enfield. His son Siddharth Lal is the current CEO of Eicher Motors and Royal Enfield.
Lal was born in 1942 in Delhi and presently lives in Delhi. He pursued his Bachelor’s in Mechanical Engineering from Technical University Darmstadt in West Germany. He is also on the board of directors of ‘The Doon School’. His NGO, Goodearth Education Foundation (GEF), has been working with state governments and other NGOs in primary education for more than 10 years.
Mahendra Choksi
Company – Asian Paints Net worth – $6.5 Billion Industry – Manufacturing
Mahendra Choksi is the son of one of the four co-founders of Asian Paints. Family patriarch Ashwin Choksi, under whom the fortune was previously listed, died in September 2018. Mahendra is the late Ashwin Choksi’s brother. Mahendra’s son, Manish, is the company’s non-executive vice chairman.
Murali Divi
Founder – Divi’s Laboratories Net Worth – $6.45 Billion Industry – Healthcare
Murali Divi, Founder of Divi’s Laboratories | Top Riches Indians
Murali Divi is a U.S.-trained scientist who founded generics maker Divi’s Laboratories 30 years ago as a drug research firm. Today, Divi’s Laboratories is among the world’s top suppliers of active pharmaceutical ingredients. The company’s revenue is estimated to be $1.2 billion in 2022.
Sudhir & Samir Mehta
Owners – Torrent Pharma Net worth – $6.4 Billion Industry – Healthcare
Sudhir and Samir Mehta, Torrent Pharma | Top Riches Indians
Sudhir Mehta and Samir Mehta changed the fortunes of a struggling Trinity laboratory by manifesting it into Torrent Pharma. Torrent has a solid presence in Russia, Brazil, and many other European countries. The Torrent group also tried its hands at generating electricity; today, Torrent Power has a 2,101 Mw generation capacity and distributes power to 2.76 million customers in parts of Gujarat.
Vinod & Anil Rai Gupta
Owners – Havells India Net worth – $6.3 Billion Industry – Manufacturing
Anil and Vinod Rai Gupta, Havells | Top Richest Indians
Havells was founded by Qimat Rai Gupta. Anil Rai is the son of Vinod Gupta (wife of the late Qimat Gupta). Together they own 60% of Havells India, their primary source of wealth. Havells makes everything—from electrical equipment and lighting products to washing machines and refrigerators. The company’s products are available in more than 60 countries in the world.
Hasmukh Chudgar
Founder – Intas Pharmaceuticals Net worth – $6.2 Billion Industry – Pharmaceuticals
Hasmukh Chudgar, Founder of Intas Pharmaceuticals | Top Richest Indians
With a net worth of $6.3 billion, Chudgar is placed at 28th position on the list of India’s richest persons. Hasmukh Chudgar founded the generics maker Intas Pharmaceuticals in 1977. Intas bought the Irish and UK assets of Israeli firm Teva Pharmaceuticals for $764 million in October 2016.
Benu Gopal Bangur
Chairman – Shree Cement Net Worth – $6 Billion Industry – Manufacturing
Benu Gopal Bangur, Chairman of Shree Cement | Top Richest Indians
The Bangur business empire came into existence in the year 1979. Gopal Bangur is the owner of Shree Cement, the leading cement producer in India. He is also the Chairman of the board of NBI Industrial Finance Co. Ltd. and the director of Khemka Properties Pvt. Ltd. Gopal is ranked 29th on the list of richest people in India by Forbes.
Benu Bangur holds a 65% stake in Shree Cement. Shree Ultra Ordinary Portland Cement, Shree Ultra Jung Rodhak, Bangur Cement, and Tuff Cemento 3556 are the crown jewels of Shree Cement.
Bangur was born in 1931 in Kolkata to a Marwari business family. He is a widow with two children and currently resides in Kolkata. Benu has a Bachelor’s degree in Commerce from Calcutta University. He runs a Sanskrit school to promote Indian heritage and culture.
Rekha Jhunjhunwala
Company- Rare Enterprises Net Worth – $5.9 Billion Industry – Finance and Investments
Rekha Jhunjhunwala | Top Richest Indians
After Rakesh Jhunjhunwala’s (popularly referred to as the Indian Warren Buffet and the Big Bull of the Indian Share Market) death in August 2022, his wife, Rekha Jhunjhunwala replaced him on the list of India’s richest people. She inherited a valuable stock portfolio from her late husband and stands in the 30th position on Forbes India’s rich list. Their portfolio includes popular names like Titan, Star Health and Allied Insurance, Crisil, and more.
Murugappa Family
Company- Murugappa Group Net Worth – $5.8 Billion Industry – Diversified
M M Murugappan, Chairman of Murugappa Group | Top Richest Indians
The Murugappa family owns and manages the Murugappa Group, a conglomerate founded in 1900. The Group was founded by Dewan Bahadur A. M. Murugappa Chettiar. Murugappa Group is involved in diversified businesses like engineering, agriculture, financial services, and more. At present, M M Murugappan serves as the Chairman of the Group.
Harsh Mariwala
Chairman – Marico Net worth – $5.7 Billion Industry – Consumer Goods
Harsh Mariwala, Chairman of Marico | Top Richest Indians
Harsh Mariwala started Marico, the consumer goods company which deals in health and beauty products. Popular hair products like Set Wet, Livon, and Nihar are some of Marico’s offerings. Harsh Mariwala is also the founder of Kaya skincare Ltd. Mariwala’s net worth is $5.7 billion and he has been ranked as the 32nd wealthiest Indian by Forbes.
Vijay Chauhan
Chairman – Parle Products Net worth – $5.5 Billion Industry – Food and Beverage
Vijay Chauhan, Chairman of Parle Products | Top Richest Indians
Vijay Chauhan is the patriarch of the family that controls Parle Products. He serves as the chairman of the company. Parle Products Company was founded in 1929 by Mohanlal Chauhan. The company is famous for its most popular product, Parle G glucose biscuits. At present, he, along with Raj Chauhan and Sharad Chauhan, controls and manages the company.
Founders – Macleods Pharmaceuticals Net Worth – $5.45 Billion Industry – Healthcare
Girdhari Lal (in picture), Rajendra Agarwal, and Banwari Lal Bawri, Macleods | Top Richest Indians
Girdhari Lal Bawri, Rajendra Agarwal, and Banwari Lal Bawri belong to a family that owned a pharmacy in Jaipur and made anti-TB medicines. The privately held company, Macleods Pharmaceutical, now produces generics for a range of diseases, including asthma, osteoporosis, and diabetes. Agarwal, the youngest sibling, is a qualified doctor and the company’s managing director. Older brothers Girdhari Lal and Banwari Lal are chairman and joint managing director respectively.
M.A. Yusuff Ali
Founder – LuLu Group International Net worth – $5.4 Billion Industry – Fashion and Retail
M.A. Yusuff Ali, Founder of LuLu Group International | Top Richest Indians
M.A. Yusuff Ali is the founder and MD of LuLu Group International. The Lulu Group owns various malls and hypermarkets all around the world. After completing his studies, Yusuff shifted to Abu Dhabi and joined his uncle in his business. He launched the first Lulu store in 1990 and hasn’t looked back since then. The business tycoon is aggressively expanding his chain of malls in India with states like Kerala being the entry point.
Vakil Family
Company – Asian Paints Net worth – $5.2 Billion Industry – Manufacturing
Nehal Vakil (in picture) Vakil Family, Asian Paints | Top Richest Indians
Abhay Vakil, the son of Arvind Vakil (one of the co-founders of Asian Paints), was an Indian billionaire businessman and a non-executive director of Asian Paints Ltd. Brothers Abhay and Amar Vakil passed away in the year 2021, and now the third generation of the Vakil family runs Asian Paints. Nehal Vakil, Abhay Vakil’s daughter, became a non-executive director of the company after her father’s demise.
The Vakil Family stands at the 36th position on the Forbes list of the richest Indians in 2022.
Mangal Prabhat Lodha
Founder – Macrotech Developers Net worth – $5.1 Billion Industry – Real Estate
Mangal Prabhat Lodha, Founder of Macrotech Developers | Top Richest Indians
Mangal Prabhat Lodha is an Indian businessman and politician. He founded Lodha Group, now Macrotech Developers, a Mumbai-based real estate developer in 1980. He started the group by building middle-class homes in Mumbai’s suburbs.
He is the Minister of Ministry of Tourism, Ministry of Skill Development and Entrepreneurship, Maharashtra. He was also the president of the Bharatiya Janata Party’s Mumbai unit.
Kapil & Rahul Bhatia
Company – InterGlobe Enterprises Net worth – $4.9 Billion Industry – Service
Kapil and Rahul Bhatia (in picture), IndiGo Airlines | Top Richest Indians
Rahul Bhatia is the co-founder and non-executive director of IndiGo airlines. He is also the group managing director of InterGlobe Enterprises. It is a privately held firm which has vested interests in the airline, travel, and hotel segments. He won awards such as the Ernst & Young Entrepreneur of the Year Award and the Economic Times Entrepreneur of the Year award. Kapil Bhatia is Rahul Bhatia’s father and the joint owner of InterGlobe Aviation. The father-son duo’s net worth is $4.9 billion, as of 2022.
Pavan and Vivek Jain
Company – INOX Group/ INOXGFL Group Net worth – $4.55 Billion Industry – Manufacturing
Pavan and Vivek Jain, INOX | Top Richest Indians
In 2021, Devendra Jain divided the family’s assets in Inox Group between his two sons, Pavan and Vivek Jain. Pavan is the elder son and serves as the Chairman of the Inox Group, which includes medical gas maker Inox Air Products and movie theatre chain Inox Leisure Ltd. Vivek on the other hand is chairman of the InoxGFL group which includes chemical maker Gujarat Fluorochemicals; Inox Wind and wind farm maintenance company Inox Green Energy Services.
Singh Family
Company – Alkem Laboratories Net worth – $4.5 Billion Industry – Healthcare
Singh Family, Alkem Laboratories | Top Richest Indians
The Singh family inherited a majority stake in Alkem Laboratories after its founder Samprada Singh passed away in July 2019. Alkem Laboratories is one of the top generics companies in India with more than 20 factories across India and the US. At present, Basudeo Narain Singh, Singh’s cousin is the Executive Chairman of the company.
N.R. Narayana Murthy
Company – Infosys Net worth – $4.3 Billion Industry – Technology
N.R. Narayana Murthy, Infosys | Top Richest Indians
N.R. Narayana Murthy is one of the founders and chairman emeritus of the Indian multinational information technology company, Infosys. He served as the CEO, Chairman, President, and chief mentor of the company before his retirement. Time magazine and CNBC have described Murthy as the “father of the Indian IT sector” for his great contribution to outsourcing in India.
He has also been honoured with the Padma Vibhushan and Padma Shri, the prominent civilian awards of the Republic of India.
Ramesh Juneja
Company – Mankind Pharma Net worth – $4.2 Billion Industry – Healthcare
Ramesh Juneja, Chairman of Mankind Pharma | Top Richest Indians
Ramesh Juneja co-founded Mankind Pharma, one of the leading pharmaceutical companies in India, with his brother Rajeev Juneja in 1995. He is currently the Chairman of Mankind Pharma. Ramesh Juneja has held different positions in many pharmaceutical companies in India, like KeePharma Ltd., Lupin, etc.
He is now one of the richest Indians, ranking 42nd on the Forbes List of the Top 100 Richest Indians, 2022.
P.P. Reddy
Chairman – Megha Engineering & Infrastructure Net worth – $4.1 Billion Industry – Engineering and Infrastructure
P.P. Reddy, Chairman of Megha Engineering & Infrastructure | Top Richest Indians
Megha Engineering & Infrastructure was founded in 1989 by P.P. Reddy, a farmer’s son, to make small pipes for the municipality. P.P. Reddy later expanded his business to build infrastructure projects. His nephew, P.V. Krishna Reddy, who joined P.P. Reddy in 1991, runs the company.
Falguni Nayar
Founder – Nykaa Net worth – $4.08 Billion Industry – Beauty and Lifestyle
Falguni Nayar, Founder and CEO of Nykaa | Top Richest Indians
Falguni Nayar is an Indian businesswoman who is famously known as the founder and CEO of Nykaa, the leading beauty and lifestyle retail company in India. Nayar founded Nykaa in 2012 with $2 million of her own money, and by 2020, it had become India’s first unicorn startup led by a woman. Nykaa opened its IPO in October 2021, which made Nayar the first Indian woman to lead the public listing of a startup.
Falguni has a net worth of $4.08 billion (2022) and is one of the two self-made female Indian billionaires, the other being Kiran Mazumdar Shaw.
Muthoot Family
Company – Muthoot Finance Net Worth – $4.05 Billion Industry – Financial Services
Muthoot Family | Top Richest Indians
Muthoot Group was founded in 1887. India’s leading lender against gold, Muthoot Finance, is managed and controlled by the Muthoot family. Shri George Jacob Muthoot is the current group chairman of the Muthoot Group of companies.
Chandru Raheja
Company – Mindspace Business Parks REIT (backed by K Raheja Corp.) Net Worth – $4 Billion Industry – Real Estate
Chandru Raheja, Chairman of K Raheja Corp. | Top Richest Indians
Chandru Raheja is an Indian billionaire businessman and the chairman of K Raheja Corp. He formed K Raheja Corp. in 1996, which is involved in the development of IT parks, hotels, and malls, as well as the operation of department store chains such as Shoppers Stop. The company’s important projects include JW Marriott in Mumbai, Inorbit Mall, Mindspace, etc.
Yusuf Hamied
Non-Executive Chairman – Cipla Net worth – $3.9 Billion Industry – Pharmaceuticals
Yusuf Hamied, Non-Executive Chairman of Cipla | Top Richest Indians
Cipla was founded in 1935 by Yusuf’s father Khwaja Abdul Hamied, who passed away in 1972. Yusuf Hamied and his brother then took over the family business. In 2020, Cipla launched a range of drugs to treat Covid-19, including a generic version of Remdesivir manufactured under a license from Gilead Sciences.
Sridhar Vembu and Siblings
Company – Zoho Corporation Net worth – $3.8 Billion Industry – Technology
Sridhar Vembu (in picture) and Siblings, Zoho Corporation | Top Richest Indians
Sridhar Vembu is the founder and CEO of Zoho Corporation, a technology company that makes computer software and web-based business tools. Sridhar owns a majority stake in Zoho with his siblings.
Vembu was awarded the Padma Shri, the fourth-highest civilian award of the Republic of India, in 2021.
Pankaj Patel
Chairman – Zydus Lifesciences Net worth – $3.77 Billion Industry – Pharmaceuticals
Pankaj Patel, Chairman of Zydus Lifesciences | Top Richest Indians
With the title of “Best Pharma Man of the Year 2003” under his belt, Pankaj Patel undoubtedly deserves the respect he gets. Pankaj is popularly known as a “pharma magnate.” He is the current chairman of Zydus Lifesciences Limited, the leading pharmaceutical company in India. He is also the founder and chairman of Zydus Hospitals.
Ravi Modi
Company – Vedant Fashions Net worth – $3.75 Billion Industry – Fashion and Retail
Ravi Modi, Founder of Vedant Fashions | Top Richest Indians
Ravi Modi founded Vedant Fashions, a manufacturer of Indian ethnic wear, in 2002, and the company went public in 2022. He serves as the Chairman and Managing Director of the company. The company’s flagship brand, Manyavar, is famous all over India and is the category leader in the branded Indian wedding and celebration wear market.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Moj.
The growth of interesting new enterprises today is all because of the appropriate usage of social media. The notion of social networking has completely transformed the globe. We can see that the popularity of social networking websites has skyrocketed in recent years.
While social media apps like Facebook, Instagram, Snapchat, etc are helping people connect with each other along with their favorite brands and products, on the other hand, there are other social media portals that are allowing people to make videos and become famous. One such social media app that earned tremendous popularity in 2020 is Moj.
Moj was created when the Indian Government banned TikTok with several other Chinese apps in 2020. It is a short video-sharing social media platform owned by Mohalla Tech Pvt. Ltd. Moj’s parent organization is ShareChat, which was started by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.
Here’s presenting all about Moj, India’s No.1 Short-Video App. Read about its success story, founders, business model, competitors, and more.
Moj – Company Highlights
Headquarters
Bangalore, India
Sector
Technology, Information, Internet, Social Media
Founder
Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.
Mohalla Tech Pvt Ltd, situated in Bangalore, owns both Moj and ShareChar. Moj is an Indian video-sharing online platform with multiple features. It includes special effects, emoticons, stickers, and short movies ranging in length from 15 seconds to one minute in categories such as dancing, travel, singing, acting, humor, and education.
Moj allows users to download videos and is available in 16 languages. These languages include – Hindi, Assamese, Bengali, Bhojpuri, Gujarati, Haryanvi, Kannada, Malayalam, Marathi, Odia, Punjabi, Rajasthani, Tamil, Telugu, and English.
The application was published nearly immediately after the Indian government banned TikTok, and over 100 million people downloaded it in just 6 months. The Moj app claims to have about 160 million Monthly Active Users (MAU), over 50 million creator communities, and nearly 4.5 billion video play per day.
Moj – Industry Details
With easy access to the Internet, social media has become an integral part of our lives. India is witnessing digital transformation every day. As a result, the number of social media users is expected to reach 448 million by 2023.
Moj – Founder and Team
Moj is founded by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan.
Ankush Sachdeva,Bhanu Pratap Singh & Farid Ahsan
Ankush Sachdeva
Ankush Sachdeva is the co-founder and CEO of ShareChat and Moj. He is a BTech Computer Science student who graduated from IIT Kanpur. Ankush worked as the company’s co-founder and CPO until being appointed to the position of CEO in 2017. Ankush co-founded ShareChat in 2015 after interning at Microsoft, which is said to be his 18th startup effort. He has been featured in Forbes‘ 30 under 30 Asia 2018.
Bhanu Pratap Singh
An IIT Kapur graduate, Bhanu Pratap Singh is the Co-founder and CTO of ShareChat. He has also co-founded Moj along with Ankush Sachdeva and Farid Ahsan. In his role, he heads a team of chosen coders and engineers from throughout the nation who are constantly upgrading the platform in order to create a product that gives a smooth experience to India’s next billion Internet users.
Farid Ahsan
Farid Ahsan graduated from IIT Kanpur in 2014 with a B.Tech in Metallurgical and Material Engineering. After receiving his degree from IIT Kanpur, Farid Ahsan worked as an Analyst in Corporate Finance at Deutsche Bank in Mumbai, India. He co-founded ShareChat with Ankush Sachdeva and Bhanu Pratap Singh in 2015 and Moj in 2020.
Moj – Startup Story / How it all started?
Moj’s story began when Ankush Sachdeva set to work just hours after the Indian government banned the usage of TikTok with a slew of other Chinese applications on the grounds of nationwide security.
The co-founder and CEO of ShareChat, a local language social networking app, assembled a team along with his friends,
Bhanu Pratap Singh and Farid Ahsan to replicate the successful Chinese short video platform. With such determination and results of working day and night, Moj was available for download on the Play Store within 30 hours.
As of now, Moj has become India’s No.1 Short Video app with over 50 million content creators on its platform and is available in 16 Indian languages.
Moj – Name, Tagline, Logo
Moj – Business & Revenue Model
Short video platforms have a wide range of business models. However, Moj’s business model is seen to be operating on a B2C business model.
Moj allows its users to freely use the app and make money from it by creating content on its platform. Moj app helps its customers to create 15-second videos to share with others. While generating videos, Moj users have access to several video effects, allowing them to make their films appear professional and appealing.
Moj allows its customers to make money either through Affiliate marketing, sponsored posts, collaboration, etc. These are some of the methods through which Moj also generates its revenue.
Another main source of revenue for Moj is advertising. A lot of companies use Moj as their platform to promote their products and services. The majority of the companies believe that a large number of people watch videos on such platforms (Moj), and sponsoring them will prove to be beneficial for their company as their advertisement will reach out to a large audience.
Moj LIVE
Recently, Moj launched a new service to mark its second anniversary, called Moj LIVE, a live video streaming platform that will allow its users to display their skills and interact with their audience in real-time.
Creators from throughout the country may use Moj LIVE to produce compelling content in a variety of genres, including live discussion shows, live game streaming, jam sessions, stand-up comedy, cuisine, astrology, and more.
Moj has also allied with Flipkart. In October 2021, it was reported that Flipkart and Moj will collaborate to offer video and live commerce, with Moj users able to purchase on the former’s web platform.
Moj – Mergers, and Acquisition
Moj has combined with MX TakaTak, which is owned by MX media, to produce the largest short video platform for Indians. There are around 100 million artists on the combined platform, over 300 million Monthly Active Users (MAU), and nearly 250 billion monthly video views.
This is what Ankush Sachdeva says about the merging, “By 2025, we want to grow monetizable creators on our platform to 10 lakh from 1 lakh at present. Our fundamental belief is that you will have far more creators in India than you have today. Many of them may not be knowing that they are going to be creators. We will help them earn $450 million ( ₹3,500 crores) through virtual gifting, live commerce, advertising, etc.”
Moj – Advertisement and Social Media Campaigns
In 2021, Moj launched a new campaign #SwipeUpWithMoj, to boost its brand memory as the ultimate entertainment destination. The company had partnered with Bollywood actress Ananya Pandey and Tollywood actor Vijay Deverakonda as brand ambassadors for the campaign. In the video, they are seen in the app’s brand videos as well as content creators on Moj. The campaign by Moj is based on a greater understanding of the consumers’ need for exciting and engaging content that helps them captivate their attention by adding some fun to their daily life.
Moj – Competitors
After the ban of TikTok, India is witnessing many such short-video platforms that are competing with each other to gain a maximum number of creators. With so many social media platforms today, Moj competes with many competitors. Some of these are:
Moj is all set to launch a new program known as, “Moj for Creators”. Through this program, Moj plans to help creators strengthen their earnings by 2025. It has already started working on offering monetizable features to the platform. Furthermore, the company expects to help content creators earn Rs 3,500 crores by 2025. Ankush Sachdeva, CEO, and Co-founder of Moj says, “We are drawing these numbers from our internal projections and existing trends. But if you look at industry expectations, it is going to be probably even more aggressive during these early times. We look at creating at least a million monetizable creators by the end of 2025 and today we already have visibility of 100,000 creators on the platform.”
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Havells.
The process of urbanization is the reason behind the drastic revolutionization of the world. As a result of this, civilization has also transformed the technical norms and work processes. Furthermore, technological patterns led to the development of many corporate industries that started providing products and services for everyday use.
As we talk, technology continues to advance, enhancing our lives for a better tomorrow. Almost every other thing today is available in the market, speaking about home appliances as well, they are turning out to be highly progressive and creative. Home appliances today are being manufactured and are balanced by an expanding consumerist culture and people’s appropriate purchasing capacity. It is now the age of mass consumption of refrigerators, electric dishwashers, radios, televisions, and a variety of other long-lasting items.
Havells, the brand we are all acquainted from quite a long time, is one such popular Indian multinational electrical equipment company that has made its big name in the electrical equipment and home appliances industry in today’s time. It has 35 branches in over 60 countries, employing over 6,000 people. With brands like Havells, Lloyd, Crabtree, Standard Electric, Reo, and Promptech, Havells India is based in Noida, India.
Founded in 1958, Havells was started by Shri. Haveli Ram Gandhi. The company was subsequently sold to Qimat Rai Gupta, who was Haveli Ram Gandhi’s distributor. Havells India Ltd. is a multibillion-dollar organization and one of the largest and fastest-growing electrical and power distribution equipment manufacturers in India. It offers products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, lamps, luminaires for domestic, commercial & industrial applications, modular switches, water heaters & domestic appliances covering the entire range of household, and commercial & industrial applications.
In India, Havells has 14 cutting-edge production sites in Haridwar, Baddi, Sahibabad, Faridabad, Alwar, Neemrana, and Ghiloth, producing globally recognized goods synonymous with perfection and accuracy in the electrical sector. Havells and its brands have established themselves as the preferred choice of electrical equipment for discriminating people and industrial users both in India and overseas. With ‘Havells Exclusive Brand Stores,’ the business pioneered the notion of exclusive brand showrooms in the electrical sector.
Today, the company has over 700 stores located across India with a wide variety of goods in the home and electrical appliances to choose from. In addition to this, Havells was the first FMEG company to provide door-to-door service with its project ‘Havells Connect.’
Havells’s CSR Initiatives
The Havells’s CSR initiative is known as Havells Steps with the catchphrase “Chhote Kadam, Badi Soch”. Its CSR initiatives are aimed at improving the lives of the communities through sustainability and bringing social changes in the areas like health & nutrition, sanitation, education, skill development, environment, humanitarian cause, healthcare, and so on. Through its CSR initiative, the company delivers mid-day lunches for 50,000 pupils in the Alwar area every day. This has resulted in a significant rise in the number of children attending school on a regular basis, as well as a reduction in hunger. In addition, the firm has purchased a property for the construction of a bigger kitchen with all contemporary amenities to offer freshly prepared food to the area’s 50,000 students.
Havells – Industry Details
Due to the easy access given to consumers these days, they are becoming more aware of the features and benefits of electronics and other home appliances. The introduction of smart technologies like the internet of things and AI-based devices has also impacted significantly the growth of consumer electronics and appliances in the market. No wonder this industry is rapidly growing with better and more modernized technology.
The market of electrical equipment and home appliances is anticipated to grow at an impressive CAGR of 12.78% during 2023-2027. The total value of this industry is expected to reach $160.03 billion by 2027.
Havells – Founder and Team
Originally, Havells was founded by Shri. Haveli Ram Gandhi. Later on, he sold the company to his distributor Qimat Rai Gupta for less than Rs 10 lakhs.
Qimat Rai Gupta & Anil Rai Gupta
Qimat Rai Gupta
Qimat Rai Gupta was born in Malerkotla, Punjab, British India (present-day Punjab) in 1937 to a lower middle-class Punjabi Hindu family. Qimat Gupta began his career in 1958 when he left his studies in Punjab and traveled to New Delhi, where he established Guptaji & Company, an electrical trading company, in Bhagirath Place, Delhi’s electrical wholesale market, with a capital of Rs 10,000 only. He gained wealth by selling switchgear in rural India and cables, lights, and fans in urban India.
From then on, he invested capital into creating world-class manufacturing plants around India. Things took a turn when Qimat Gupta purchased Havells brand name from Haveli Ram Gandhi in 1971. Thereafter, Qimat Rai Gupta led to its glory and created various trends in the FMEG industry.
Qimat Rai Gupta is also known to change the shape of the Indian electrical goods manufacturing process to global standards. He is also known to have founded QRG Central Hospital and the multi-specialty healthcare center QRG Health City in Faridabad.
Qimat Rai Gupta has received the EY Entrepreneur Of The Year Award 2013. He was married to Vinod Gupta, and they have two boys and one daughter. Only his second son, Anil Rai Gupta, is involved in the firm and replaced his father as Havells’ Chairman. Qimat Gupta was 77 when died on November 7, 2014, due to cardiac arrest. His net worth was $1.95 billion at the time of his death.
Anil Rai Gupta
Anil Rai Gupta is the Chairman & Managing Director of Havells India Ltd. As a kid, Anil Gupta attended St. Xavier’s School in Delhi. He graduated from Sriram College of Commerce with a bachelor’s degree in economics and from Wake Forest University in North Carolina with an MBA. Being in the industry for 22 years, Anil Gupta has carried out his duties and responsibilities significantly. He joined the company in 1992 as a non-executive director. Anil Gupta took over as chairman and managing director of Havells after his father died in November 2014. He is one of the founders of Ashoka University, a Haryana-based private liberal arts institution. He has written a book known as Havells: The Untold Story of Qimat Rai Gupta (2016), a biography of his father, which was favorably appreciated.
Anil Gupta received an Honorary Doctorate from his alma mater, Wake Forest University, in 2017, as well as the All India Management Association’s Emerging Business Leader Award. He was also named ET Family Business of the Year for the fiscal year 2017-18. Anil was also selected “Entrepreneur of the Year 2019” by Forbes India. Furthermore, He was also named Business Today’s Best CEO in the Consumer Durables Category for 2019 and 2020. Anil Gupta’s wife is Sangeeta Rai Gupta, with whom he has two children.
Havells – Startup Story
The story of Havells began at Bhagirath Place, a bustling electrical and electronics bazaar in the Chandni Chowk neighborhood of ancient Delhi. Haveli Ram Gandhi, the brand’s original owner started the company in 1958. After a few years of some difficulties, Havells was purchased by Qimat Rai Gupta, who was a former schoolteacher.
Qimat Gupta found a great opportunity when he set up his own electrical trading business in Bhagirath Place and discovered Haveli Ram Gandhi’s trading difficulties. Havells brand was purchased for Rs 7 lakh, and since then, Qimat Gupta never looked back. His smart leadership skills and strategic business mind has taken Havells to the international markets today with a market value of Rs 78,185.07 crores.
Havells – Mission and Vision
Havells’ vision statement says, “To be a globally recognized corporation known for excellence, governance, consumer delight and fairness to each stakeholder including the society and environment in which we operate.”
The mission of Havells is, “To achieve our vision through business ethics, global reach, technological expertise, building long-term relationships with all our associates, customers, partners and employees.”
Havells lives by its four core values:
Customer Delight
Leadership by example
Integrity and Transparency
Pursuit of Excellence
Havells – Name, Tagline, Logo
Havells’s tagline says, ‘Committed to saving energy’
The name ‘Havells’ may sound like a foreign name, but it is very much Indian. The brand’s name is taken from the first owner of the brand – Shri Haveli Ram Gandhi.
Havells – Business Model
Havells, a brand that focuses on offering consumer electronic appliances can be said to have a customer-centric business model. The company is mainly concentrated on integrating and bringing its customers together to offer them a wide range of options based on their interests. Havells India’s primary customers are proprietors of small-scale, large-scale, and medium-scale industries.
To shed more light on Havells’s business operations, the company has established many sets or groupings of electrical items based on the social and financial divisions of society. Havells’s middle-class range is primarily concerned with fetching new customers to this financial group. It offers clients a wide range of alternatives and choices.
Havells’s business is all about producing a wide variety of electrical goods and equipment: its key products and services can be categorized into two parts:
Consumer: Havells offers smart and sustainable consumer appliances with longer durability, these are:
Fans
Lighting
Water Heater
Air Cooler
Water Purifier
Personal Grooming
Switches
Switchgear
Flexible cables
Appliances (cooking, brewing, garment care, mixer, etc)
Industrial: Havells is also engaged in providing a range of industrial electrical solutions, these are:
Heavy Duty fans
Cables
Motors
Switchgear and Controlgear
Professional Lighting
Power Quality Solutions
Solar Power
With each passing year, Havells is proving to become more about customer satisfaction by offering a vast number of consumer goods to more middle-class people.
Havells – Revenue Model
As the most trusted brand by many Indians for its electrical appliances, Havells’s main source of income comes from the sales of residential appliances and industrial electrical items. It is seen that the Havells galaxy offers a wide range of items for both commercial and residential use.
For the fiscal year 2022, Havells has reported having revenue of Rs 13,940 crores, whereas its Net income stood at Rs 1,196.47 crores.
Havells – Mergers and Acquisitions
Havells India has acquired two organizations to date. The details are:
Date
Acquiree Name
Amount
February 20, 2017
My Lloyd
Rs 160 crores
April 20, 2015
Promptec Renewable Energy Solutions
Rs 6.5 crores
Havells – Investments
Havells India has made two investments. Their investment details are:
Date
Company Name
Amount Invested
December 13, 2021
Arrivae
$750 million
June 24, 2021
Veeda Clinical Research
$16 million
Havells – Advertisements and Social Media Campaigns
Havells’s branding and advertisements have always put a huge impact on its audience with its creative and innovative campaigns. In recent times, Havells had launched a new campaign through a series of videos celebrating inspiring stories of people who have come across their challenges by ending the darkness in their lives. The campaign was called #LetsEndDarkness showcases the stories of real people who overcame the many obstacles that life had thrown at them. The campaign features people like Smriti Mandhana (an established female cricket player), Deepa Malik (the first Indian woman participant at the Paralympic Games), Dr. Ruth John Paul (India’s first transgender doctor), and many more.
In another attempt to promote its product called Gracia alkaline water purifier, Havells came up with the new campaign #SahiPaaniKaSignAlkaline to highlight the product’s features. The ad focuses on the fact that alkaline is the best solution for having the right type of water.
Havells – Awards and Achievements
Havells has been accoladed with many awards, these are listed below;
2021
Havells won the India Design Mark 2021 for Silencio Mixer Grinder
Havells has achieved the ICSI CSR Excellence Awards FY 2021-2022
Havells has won the Great Place to Work
2020
Havells has received the India Design Mark award for Edgelit
Havells has won the 10th CII Design Excellence Awards 2020 for Crabtree SmartH Automation Range by India’s 30 Best Workplaces in Manufacturing
2018
Havells won the Digital Marketing of the Year 2018 – Consumer Durable Category
Havells won the Gold Award for Buzziest brand in the building segment by Afaqs
The company has announced that it is planning to build its own distribution channels across India. It is targeting to cover 2,800 additional towns with a population of 10,000 to 50,000 approximately. With an encouraging performance in the fiscal year 2022, the company plans to focus more on the core areas of innovation, manufacturing, and distribution. Furthermore, Havells is also aiming to expand in international markets such as the Middle East and Africa.
FAQs
Who is the CEO of Havells?
Anil Rai Gupta is the CEO of Havells.
Is Havells an Indian company?
Yes, Havells is an Indian company based in Noida.
In how many countries does Havells operate?
Havells has a strong presence in over 60 countries.
Mahenoor Mansuri
