For several reasons, an influencer or creator needs to establish a following for their business or material. It provides him or her with a loyal following of people who will cheer for him or her and share the word about what he or she has accomplished. But it’s not all about the statistics; when one builds a community, it helps them connect with their audience on a deeper level, which in turn can lead to more engagement, better feedback, and more success and money!
Having a community, first and foremost, implies that the person’s material already has an audience. Creators without a sizable following at the moment should pay special attention to this. If one relies on their community for support and encouragement, they won’t have to reinvent the wheel every time they put out fresh content.
A few Indian YouTubers have figured out how to become famous on the site, drawing millions of viewers with impressive skill sets.
These YouTubers have established themselves as experts in their fields, whether it’s gaming or life hacks.
The key is in the relatable and interesting content they provide, which allows them to establish a personal connection with you. Indian YouTubers have a natural talent for keeping viewers engaged and coming back for more, whether it’s through witty banter, interesting stories, or insightful commentary.
The Indian YouTuber, gamer, comedian, and social media influencer known as Carryminati (actual name: Ajey Nagar) has a large following. His humorous and satirical films went viral on YouTube, and he became famous all over. Video game commentary and gameplay videos were Carryminati’s primary emphasis when he started his YouTube journey in 2010. His comedic and roasting content eventually became his bread and butter, and he amassed a legion of devoted followers. He became one of India’s most popular YouTubers thanks to his offbeat brand of criticism and humor. The caustic and mocking tone of Carryminati’s writing has made him famous. In his films, he frequently uses humor and scathing commentary to tackle popular subjects, people, or societal issues.
His charisma, particularly among the younger demographic, stems from his fearlessness and willingness to speak his mind. The 2020 video by Carryminati titled “YouTube vs TikTok – The End” quickly became one of YouTube’s most-viewed non-music videos after going viral. The video caused quite a stir online and had people talking about how and where content is made on the internet. Carryminati has worked with brands on promotional campaigns and is interested in charitable activities. By leveraging his position of power, he has contributed to worthy causes and brought attention to important societal issues.
Carryminati has been successful because of his charisma, humorous sense of humor, and fascinating content. He is now widely considered to be one of India’s most prominent digital content providers, having amassed immense fame and renown among the country’s YouTube community.
Many people, cut off from the comfort of in-person communication during the lockdown, turned to social media as a means of coping with the isolation. In addition, the figures are adequate to establish a baseline: Nearly 840 million people in India have access to the internet, whether through wired or mobile phone, according to a quarterly report released in May 2023 by the Telecom Regulatory Authority of India.
At the same time, according to the India Cellular & Electronics Association, a leading trade group for the country’s mobile and electronics industry, 448 million people used social media in 2023, with the source being the private statistics website Statista.
Internet Penetration Rate in India From 2014 to 2024
Monetization Is the Most Alluring Factor
The proliferation of affordable smartphones and the widespread availability of the Internet have both contributed to the expansion of the content creation sector. Content creators from all across the nation find YouTube to be the most appealing option among the many social media platforms that provide cash-generation options. The fact that producers can make money in a variety of ways is one reason for the abundance of content monetization alternatives. Also, young people who are thinking about making videos for a living are inspired by YouTube’s large viewership.
A major motivator for young people to start making content is the possibility of making money from it. Because it is completely different from conventional media platforms, where access is limited to an elite few, social media and YouTube in particular have sparked a revolution. Therefore, many young, imaginative businesspeople have a strong desire to launch their own company since they love being their own boss.
FAQs
Who are the top YouTubers in India?
Carryminati, Ashish Chanchlani, Bhuvan Bam, Technical Guruji, Total Gaming (Ajay), Sandeep Maheshwari, Amit Bhadana, and Dr. Vivek Bindra are the top YouTubers in India.
How many people in India have internet access?
Nearly 840 million people in India had access to the internet, whether through wired or mobile phones in 2023.
Who is YouTube’s first billionaire?
MrBeast is YouTube’s first billionaire with $500 million (2023) as his net worth.
There are both good and bad things associated with IPL 2024, which is seen as cricket’s Maha Kumbh (Magnum Opus). There hasn’t been an international cricket event during the two-month timeframe while the Indian Premier League (IPL) is in full swing because all of the top players are involved in the competition. With the General Assembly Election of 2024 just around the corner, many were wondering how this year’s IPL would play out. There were rumblings that the conjunction would be moved to a different venue because of safety concerns. Nevertheless, the BCCI was successful in persuading the authorities to hold the event on the domestic periphery.
Without knowing when India’s general election would be held, organizers revealed a partial schedule for the first twenty-one matches up to April 7. It is believed that the news of the reduced schedule is because of concerns about the tournament’s administration and safety as the country votes.
The dates of the second phase of the IPL tournament, which concludes on 26 May 2024, were swiftly revealed by the organizers after the announcement of the election timetable, which states that polls would be open from April 19 to June 4. The first leg of the day’s schedule kicks off at 3:30 PM local time (10:00 GMT), while the second leg starts at 7:30 PM local time (14:00 GMT).
Why This Season Is Important for Players?
As a result of the fact that their achievements in the league will have an impact on selection decisions for the ICC event that will take place later this year, the Indian Premier League (IPL) of this year is of great importance for players who are trying to win spots in the 2024 Twenty20 World Cup squad. All the national selectors will be present at the various venues where the Indian Premier League is being played, according to BCCI Secretary Jay Shah.
In addition, Shah stated earlier this month that Rohit Sharma will serve as the captain of the Indian squad at the Twenty20 World Cup. This announcement has prepared the groundwork for intriguing team dynamics within the Mumbai Indians. In December of the previous year, the team decided to replace Rohit as captain for the upcoming season. Hardik Pandya, an all-rounder at the time, had been leading the Indian Twenty20 International team during the entire year. However, he has not been able to play since November 2023 owing to an injury.
Most Expensive Player in IPL from 2014 to 2023
Why BCCI Was Considering Shifting This Yearâs IPL to Another Country?
As a result of the possibility of conflicts with the General Elections in India, the Board of Control for Cricket in India (BCCI) was considering the possibility of transferring the second half of the Indian Premier League (IPL) 2024 to the United Arab Emirates (UAE). An official from the Board of Control for Cricket in India (BCCI) reportedly traveled to the United Arab Emirates (UAE) to investigate the possibility of moving the remaining matches of the Indian Premier League to the Gulf nation.
The decision to reschedule the second half of the Indian Premier League (IPL) was made due to fears that the timetable of the competition would clash with the dates of the General Elections at some point. It was expected that if the dates of the elections coincided with the schedule of the Indian Premier League, it would result in difficulties in terms of logistics and conflicts in terms of scheduling for both events.
Despite the rough seas, Paytm appears to be continuing to navigate its course. The Reserve Bank of India (RBI) has already served the company with numerous notifications, putting it under its scrutiny. As part of their yearly evaluation cycle, Paytm is reportedly planning to lay off 20% of their workers. Several people in various departments are supposedly going to be fired soon. This action is being taken at a time when the Reserve Bank of India (RBI) is investigating Paytm’s payment banks for alleged inadequate due diligence.
The higher-ups claim that performance reviews are the basis for these adjustments, but there is noticeable disquiet among the ranks over the lack of sufficient severance payments and the implementation of plans to improve performance. Employees at Paytm are already anxious about the company’s future, and the timing of these staff changes, in conjunction with the current evaluation cycle, has further added fuel to the fire.
It has been stated that Paytm is also undergoing a technology overhaul, similar to many other organizations, and is shifting towards operations driven by artificial intelligence. This course correction towards automation heralds a period of increased efficiency and fiscal restraint but also raises doubts about the future of several job descriptions inside the company. Paytm is at a critical juncture, balancing innovation with worker welfare, as technology changes the trajectory of the fintech industry. These moves reflect larger trends in the financial technology industry as businesses try to use technology to adapt to a digital age, and their ramifications go beyond Paytm.
Number of Tech Employees Laid off Worldwide From 2020 to 2023, by Company
Fear of the Unknown
Staff have been living in constant fear of layoffs since the RBI clamped down on Paytm’s partner bank and subsidiary, Paytm Payment Bank (PPB), on January 31. In response, Paytm has been undergoing a slew of changes, such as a new TPAP license, a migration of merchants, and an effort to rectify misunderstandings and overhaul its banking partnerships.
Everyone is watching the implementation of these procedures to make sure Paytm consumers have a smooth transition as the March 15 deadline draws near.
Employees in all industries have been searching for greener pastures in the face of the uncertainties. According to the February study by specialty staffing provider Xpheno, there are over 6,000 active and available talent from Paytm on the job market.
There would be no layoffs, Vijay Shekhar Sharma told colleagues, according to a prominent media outlet. Everything is appropriate with you because you are a valued member of the Paytm family. Many banks are helping us,”Sharma said to staff in a February 5 virtual town hall meeting.
Regulatory Chaos and Unexplored Regions
The spike of regulatory scrutiny, especially over Paytm’s payment bank operations, is adding another level of complication to the seafaring adventure. The staff has been asked to reevaluate their banking affiliations and operational practices due to recent tests by the Reserve Bank of India (RBI). With this regulatory storm adding another complexity level to an already chaotic situation, both the crew and the investors are on high alert. There has never been a more critical time for Paytm and its stakeholders as the company works to restore trust in its banking services and conform to regulatory requirements.
Actions and Strategies of the Company
Using more technology is an effort to work smarter, according to Paytm. To streamline operations and cut costs, they seek to reorganize certain positions. Things may be tough, but Paytm’s boss assures that the company’s commitment to employee safety is unwavering.
“Adjustments may be made based on performance evaluations and position fit throughout our annual appraisal cycle, which is a normal approach for most firms. Layoffs are a normal part of performance reviews in any company, but this procedure is different, the representative stressed,” stated spokesperson of Paytm.
The talk of layoffs is indicative of the changing nature of PPB, which is going through internal and external transformations. The people impacted by these changes must not be forgotten as the corporation strives for efficiency. Observing how Paytm manages to improve things while also caring for its staff is fascinating.
Swiggy, a trailblazer in food delivery and quick commerce, has strategically merged InsanelyGood with its Instamart grocery delivery service, marking a significant move before its anticipated Initial Public Offer (IPO).
The merger aims to increase investor confidence by improving efficiency and combining Swiggy’s food and grocery delivery services. This is particularly important in cities like Bangalore, where there’s high demand for fast service and fresh groceries delivered to doorsteps.
âInsanelyGood focuses on high quality assortment of groceries and has seen a tremendous amount of consumer love. Given the great traction, we plan on scaling this up to the entirety of Bangalore and will do this as a separate entry point on Swiggy Instamart,â said Swiggy Instamart Spokesperson in a statement.
Launched in August 2020, Swiggy Instamart is recognized as India’s leading quick commerce grocery service.
Currently, Swiggy Instamart operates in over 25 Indian cities, using advanced technology and a specialized delivery fleet to promptly deliver groceries and household essentials to customers’ doorsteps within minutes.
Swiggy’s integration of InsanelyGood into Instamart is part of its broader strategy to streamline operations and solidify its position in the rapidly expanding online grocery market.
With consumers increasingly favoring online ordering, especially for quick delivery of essential groceries, this move enhances Swiggy’s competitive edge in meeting evolving demands in the eCommerce and instant commerce sectors.
As per Statista, the Indian online food delivery market was USD 7.4 billion in 2023. The delivery market is expected to grow and reach USD 24 billion in 2026.
The projected revenue for the online food delivery market in India is estimated to reach USD 43.78 billion by 2024, with an anticipated annual growth rate (CAGR 2024-2028) of 16.95%. This trajectory is poised to elevate the market volume to USD 81.91 billion by 2028.
As Swiggy gears up for its IPO, this consolidation highlights its ambition to lead the quick-service sector and reflects its agility in responding to evolving market trends.
In addition to Swiggy’s transformative offers such as the instant grocery delivery app Instamart, dining out experience with Swiggy app Dineout, and same-day package delivery Genie, it also allows sellers to build their storefronts, and upload product catalogs at Minis.
The food delivery firm consistently works and introduces smaller yet highly impactful features to enhance user convenience.
Features like voice search, the generative Artificial Intelligence (AI) feature, live activity on orders, smart push notifications, speech recognition, what to eat, personalized home page, and direct reply notification are some of the consistent upgrades Swiggy is doing to enrich customer experience.
These features are designed to streamline the entire experience of ordering food and other services through the Swiggy platform, catering to the diverse needs and preferences of its users.
âWe understand that ordering food is not a transaction but an expression of oneâs emotions, and a way to alleviate oneâs mood,â Swiggy CEO of Food Marketplace Rohit Kapoor has said. âMany times people simply do not want to go through the process of browsing through multiple options and pondering over them. Wouldnât it be nice to instead have sharp recommendations attuned to how they feel and what they crave? Thatâs exactly what we are trying to do with WhatToEat. It is for customers for whom food is a feeling or an emotion, and not merely a dish or a restaurant.â
This paves the way for assessing the impact of these strategic decisions on Swiggy’s growth path, demonstrating its capacity to adjust to shifting consumer preferences towards local retailers, effortless ordering, and online grocery shopping.
Swiggy experienced a substantial surge in operating revenue, soaring over 40% to Rs 8,264.4 crore in the 2022-23 fiscal year, up from Rs 5,704.9 crore in the year 2021-22, indicating a robust growth trajectory after it scaled up its quick commerce vertical.
The food delivery segment of Swiggy achieved profitability in 2023, with a strategic focus on sustainable growth, and further improvements are expected this year.
A fund overseen by US-based asset manager Baron Capital Group has upped the fair value of Swiggy, the food-delivery platform, to USD 12.1 billion. This represents a 13% surge from Swiggy’s prior valuation of USD 10.7 billion, noted during its last fundraising round in 2022.
Invesco has raised the valuation of Swiggy, the food and grocery delivery platform, by around 9% to USD 8.5 billion according to its filings with the US Securities and Exchange Commission as of October 31.
Investment and Expansion
Swiggy has received substantial funds worth USD 3.6 billion from 40 investors, including prominent names like Samsung Ventures, Tencent Holding, Wellington Management, Accel Northwest Venture Partners, and SAIF Partners, indicating robust investor confidence.
The company has been actively exploring the application of AI through initiatives such as Swiggyâs neural search. It would enable users to search using conversational and open-ended queries and receive recommendations tailored to their specific needs.
Swiggy’s foray into diverse sectors including grocery, clothing, and other essential items, coupled with the launch of Swiggy Mall offering home and kitchen items, electronics, and toys, demonstrates its forward-looking approach to expansion and diversification.
Swiggy’s valuation has doubled to USD 10.7 billion, underscoring its strong market position and growth prospects.
Swiggy’s Generative AI Journey: A Peek Into the Future
The Role of Instamart and InsanelyGood in Swiggy’s IPO
Strategic Merger and Expansion
Swiggy’s merger of InsanelyGood with Instamart is aimed at improving operational efficiency within its quick-commerce vertical.
This strategic move aligns with Swiggy’s goal of expanding top-notch grocery delivery services in Bangalore by leveraging Instamart’s infrastructure and customer base.
Operational Synergies
The integration of InsanelyGood into the Swiggy app, coupled with the commitment to swift fulfillment, underscores Swiggy’s dedication to delivering a seamless user experience and ensuring customer satisfaction. Moreover, the merger is anticipated to streamline costs and enrich the value proposition for both customers and investors.
Financial and Market Impact
The merger underscores Swiggy’s commitment to dominate the quick-commerce space while preparing for a successful IPO. Instamart’s robust growth in gross merchandise value (GMV) indicates promising prospects for further expansion and market dominance.
In the financial year 2022-23, Swiggy clocked a gross merchandise value exceeding USD 2.6 billion in India, marking a growth compared to the previous year.
Prosus, the largest institutional investor in Swiggy, reported that in the initial half of the financial year 2023-24, Swiggy’s primary food delivery segment experienced a 17% growth, achieving a gross merchandise value of USD 1.43 billion.
Gross Merchandise Value of Swiggy From Financial Year 2019 to 2023
Founded in 2014, Bangalore-headquartered Swiggy operates across 500 cities in India.
Challenges and Opportunities Ahead
Workforce Reductions
Swiggy has undertaken cost-saving measures, including workforce reductions, amid challenging macroeconomic conditions. However, aggressive financial management has helped in reducing monthly cash burn, reflecting a prudent approach.
As per media reports, Swiggy may reduce approximately 400 positions, constituting nearly 7% of its workforce. This move is aimed at enhancing the food tech giantâs financial standing in preparation for an upcoming IPO later this year.
Financial Losses
Despite revenue growth, Swiggy reported a net loss in the fiscal year 2022-23, highlighting the financial challenges. Nevertheless, the company is focused on strategic partnerships and market expansions, innovation, technology upgradation, and democratization to increase its valuation pre-IPO and sustain its competitive position.
In its FY23 financial report, Swiggy announced that its food delivery division achieved profitability, attributed to its implementation of cost-efficient strategies.
âOne of the major moves Swiggy might make is to partner and expand its food delivery team per geographic location. The less delivery time will help Swiggy to lower the food delivery charges that increase its sales,â an article âSwiggyâs Future Plans To Increase The Sale Ahead Of Its IPOâ by Stockify Fintech on professional networking site LinkedIn said.
Swiggy’s strategic merger of InsanelyGood with Instamart signifies a pivotal moment in its journey towards IPO.
The company’s commitment to adaptability, innovation, and market dominance sets a precedent for success in the competitive landscape of digital commerce.
Challenges notwithstanding, Swiggy’s clear vision for growth and sustainability positions it favorably for its upcoming IPO, promising a transformative impact on the quick-commerce and food delivery sectors.
As per reports, the company aims to raise approximately USD 1 billion (Rs 8,300 crore) through its IPO scheduled for this year. Swiggy plans to file its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO) within the next few weeks.
FAQs
What is Swiggy Instamart and how does it differ from InsanelyGood?
Swiggy Instamart is a quick-commerce grocery service launched in 2020, offering fast grocery delivery in over 25 cities in India. InsanelyGood, on the other hand, was a separate grocery delivery service that Swiggy merged with Instamart to enhance its offerings.
How does the merger of InsanelyGood with Instamart impact Swiggy’s overall strategy and market positioning?
The merger streamlines Swiggy’s operations and strengthens its position in the quick-commerce and grocery delivery sectors, enhancing efficiency and market reach.
What are the key factors driving Swiggy’s decision to streamline operations and enhance efficiency ahead of its IPO?
Swiggy aims to showcase robust financials and sustainable growth strategies to attract investors and maximize value for shareholders.
What financial milestones and performance indicators should investors consider when evaluating Swiggy’s potential for growth and profitability?
Investors should assess Swiggy’s revenue growth, profitability margins, gross merchandise value (GMV), customer acquisition, and retention metrics to gauge its growth potential and financial health.
What role does Swiggy’s IPO play in shaping the future of the food delivery and quick-commerce sectors in India?
Swiggy’s IPO will serve as a milestone event, signaling the maturation and potential consolidation of the food delivery and quick-commerce sectors in India, attracting investor interest, and driving further innovation and competition.
In the realm of household brands, Fevicol stands as a testament to the power of innovation, strategic marketing, and unwavering commitment to quality. Born out of humble beginnings, this adhesive startup has evolved into a billion-dollar empire, leaving an indelible mark on both Indian and global markets.
In 1963, Pidilite Industries Limited introduced Fevicol to the Indian market. At that time, the company was relatively small, but its vision was grand. Fevicol was initially marketed as a synthetic resin adhesive tailored for carpentry and woodworking applications. However, its potential went far beyond these niches.
In 1970, Fevicol debuted its compact 30-gram tube, swiftly embraced by families nationwide for its convenience.
Disruptive Approach
Unlike its competitors, Fevicol took a direct-to-carpenters approach. By bypassing traditional distribution channels and reaching out directly to end-users, Fevicol revolutionized the adhesive industry. Carpenters welcomed this change as it liberated them from cumbersome animal glue, starch, and nails, which were difficult to apply and offered inconsistent results.
Fevicol’s success hinged on its ability to deliver quality and reliability consistently. Carpenters, contractors, architects, and interior designers quickly developed trust in the brand, appreciating its durability and performance. This trust cascaded to end-users, cementing Fevicol’s position as a household name synonymous with adhesive solutions.
Today, it’s a household staple, with hardly any home lacking a Fevicol tube or a bottle. It’s a common practice for families to keep Fevicol on hand for unexpected needs, underscoring its essential role in everyday life.
Pillars of Success
How Fevicol Became India’s Most Trusted Adhesive Brand | The Brands That Built India
Several key factors contributed to Fevicol’s meteoric rise:
Quality Assurance: Fevicol prioritized quality control, ensuring each product met stringent standards. This commitment to excellence resonated with consumers seeking reliable solutions for their bonding needs.
User-Friendly Design: Fevicol’s intuitive application methods made it accessible to both professionals and DIY enthusiasts. Clear instructions simplified the bonding process, further enhancing its appeal.
Innovation Drive: Constant innovation fueled Fevicol’s growth. The company continuously introduced new adhesive solutions, staying ahead of the curve and addressing evolving market demands.
Customer-Centric Approach: Fevicol placed a premium on customer satisfaction. Robust support services, including warranties and technical assistance, fostered a loyal customer base.
Word of Mouth Marketing: Positive reviews and recommendations amplified Fevicol’s reputation, driving organic growth and expanding its market reach.
Market Dominance
Fevicol is a trusted brand with a dominant market share in the Indian adhesive market, boasting an estimated market share of over 70%. According to market analysis, the India Adhesives Market size is projected to grow from USD 2.87 billion in 2024 to USD 3.76 billion by 2028, at a Compounded Annual Growth Rate (CAGR) of 6.98% during the forecast period (2024-2028).
Beyond Adhesives
Fevicol’s success story extends beyond its core product. The company diversified its portfolio, introducing a range of consumer products and construction chemicals. This strategic expansion broadened Fevicol’s market presence, positioning it as a comprehensive solution provider.
Pidilite Category Breakdown (FY 2023)
Fevicol’s Global Footprint
Fevicol’s reach extends far beyond Indian shores, with operations spanning over 70 countries. The company boasts eight manufacturing facilities outside India, including Bangladesh, strategically positioning itself to cater to diverse markets worldwide.
Market Dominance and Expansion
Fevicol’s market capitalization has soared to Rs 1.38 lakh crore, underscoring its dominant position in the adhesive industry. Over the years, Fevicol established a virtual monopoly, captivating consumers with its superior quality and unmatched reliability.
Diversification and Acquisitions
In a strategic move to diversify its product portfolio, Pidilite, the parent company of Fevicol, introduced FeviQuick in 2002, catering to the growing demand for fast-acting adhesives. Additionally, Pidilite expanded its product range by acquiring M-seal and several other adhesive companies, further solidifying its market presence.
International Expansion
In 2006, Pidilite embarked on a bold international expansion strategy, setting up manufacturing facilities in key global markets such as the US, Thailand, Dubai, Egypt, and Bangladesh. This strategic move allowed Fevicol to tap into new markets and capitalize on emerging opportunities.
Investment in Research and Development
Recognizing the importance of innovation, Fevicol established a state-of-the-art research center in Singapore, dedicated to developing cutting-edge adhesive solutions. This investment in R&D reaffirmed Fevicol’s commitment to staying ahead of the curve and meeting evolving consumer needs.
Fevicol’s commitment to community empowerment is evident through initiatives like the Fevicol Champions Club (FCC). This platform not only provides carpenters with valuable business skills but also fosters a sense of camaraderie and professional development within the industry.
Corporate Social Responsibility
Giving back to society is ingrained in Fevicol’s ethos. By supporting farmers in adopting sustainable practices and empowering women through Self-Help Groups (SHGs), Fevicol contributes to positive change and community development. Initiatives in education, skill-building, and healthcare further underscore Fevicol’s commitment to social welfare.
Financial Performance
Pidilite Industries, the parent company of Fevicol, reported a net profit of Rs 12,889 million in FY23, marking a 6.8% increase compared to the previous fiscal year. Analysts at Goldman Sachs foresee new growth drivers emerging for the firm, signaling a positive outlook. The brokerage firm raised its earnings estimates for FY25/26 by 4/8%, respectively, expecting a strong recovery in margins from 16.7% in FY23 to 23.1% in FY26E.
Innovative Marketing
Fevicol’s marketing campaigns are legendary. Through creative and memorable advertisements, often featuring humorous situations where strong bonds are required, Fevicol captured the public’s imagination. These campaigns not only entertained but also reinforced the brand’s message, solidifying its place in popular culture.
Fevicol’s MOST ICONIC ADS!
Global Recognition
Fevicol’s impact transcends borders. Its innovative campaigns have garnered international acclaim, earning prestigious awards at events like the Cannes Festival. Fevicol’s journey from a local adhesive startup to a globally recognized brand is a testament to its universal appeal and enduring relevance.
A notable instance is when Indian Prime Minister Narendra Modi likened the Indo-Japan relations to the strength of Fevicol’s bond. This exemplifies how Fevicol’s tagline has become ingrained in daily life situations, showcasing the brand’s pervasive presence in society.
Looking Ahead
As Fevicol continues to innovate and adapt to changing market dynamics, its future appears bright. With a steadfast commitment to quality, customer satisfaction, and community engagement, Fevicol is poised to maintain its position as a market leader and a symbol of adhesive excellence for generations to come.
Conclusion
Fevicol’s journey from a humble adhesive startup to a billion-dollar empire is a testament to the power of innovation, quality, and customer-centricity. By staying true to its core values while embracing change, Fevicol has left an indelible mark on the adhesive industry and beyond.
FAQs
What is Fevicol?
Fevicol is a renowned adhesive brand introduced by Pidilite Industries Limited in 1963. It offers a range of high-quality adhesive solutions for various applications, including carpentry, woodworking, construction, and DIY projects.
Who is considered the founder of Fevicol?
Balvantray Kalyanji Parekh, commonly known as the “Fevicol Man,” is credited as the founder of Fevicol. As the visionary behind Pidilite Industries, the parent company of Fevicol, he played a pivotal role in shaping the brand’s identity and success.
How did Fevicol revolutionize the adhesive industry?
Fevicol revolutionized the adhesive industry by adopting a direct-to-carpenters approach, bypassing traditional distribution channels. Its disruptive strategy liberated craftsmen from cumbersome alternatives, establishing Fevicol as the preferred adhesive solution.
What factors contributed to Fevicol’s success?
Fevicol’s success can be attributed to several key factors, including its emphasis on quality assurance, user-friendly design, continuous innovation, customer-centric approach, and effective word-of-mouth marketing.
What is Fevicol’s global footprint?
Fevicol has a significant global presence, with operations spanning more than 70 countries and eight manufacturing facilities outside India, including Bangladesh. Its strategic international expansion has positioned Fevicol as a global adhesive powerhouse.
How has Fevicol impacted popular culture?
Fevicol’s influence on popular culture is evident when Indian Prime Minister Narendra Modi likened the strength of Indo-Japan relations to that of Fevicol’s bond, stating, “Yeh Fevicol se bhi mazboot jod hai (this bond is stronger than that of Fevicol).”
The recent imposition of a 28% GST on fantasy gaming apps in India has disrupted the industry, particularly during the Indian Premier League (IPL) 2024 season.
This unexpected move has hindered marketing efforts and user engagement strategies, posing significant challenges for fantasy gaming platforms during one of the most anticipated sporting events of the year.
The high tax rate imposed by the Centre has caught many gaming operators off guard, compelling them to reassess their strategies and business models.
Previously, these platforms were operating without any tax implications, but since October 2023, the sector has faced a significant financial burden.
The implementation of the 28% Goods and Services Tax (GST) translates to users needing to allocate Rs 28 for every Rs 100 spent on online games, regardless of their skill-based or chance-based nature.
28% GST On Online Gaming | Ashneer Grover Exclusive Interview
This tightened taxation policy has raised concerns among gaming companies, particularly regarding its adverse effects on their ability to invest in new game development, hindered cash flows, and constrained business expansion opportunities.
Compounded with the current IPL season, where marketing budgets are already constrained due to the tax implications, gaming companies find themselves facing additional challenges in promoting their platforms and attracting users.
In October 2023, the blanket GST tax was implemented by the Indian government to streamline taxation and bring more transparency to the booming fantasy gaming industry.
According to a report by the All India Gaming Federation, India’s online gaming market has experienced remarkable growth in recent years. It is forecasted to surge from USD 1.6 billion in 2022 to a projected USD 5 billion by 2025. This growth is attributed to the rising penetration of smartphones and the internet across the country.
While the intention behind the move may be noble, its consequences for fantasy app operators and users have yet to be fully realized. Before learning further about the implications, letâs delve into the history and origin of fantasy gaming operations.
Fantasy sports involve creating teams of real players from different sports and earning points based on their actual game performance. It started after World War II, initially focusing on golf, then expanding to football and baseball.
With digital advancements, fantasy sports have become a big industry. Applications now support multiple games, including popular franchise-based leagues like the NBA (National Basketball Association), AFL (Australian Football League), NRL (National Rugby League), and IPL (Indian Premier League). Dedicated game lobbies for these tournaments have further expanded the fantasy sports market.
As per a recent study released by Allied Market Research titled âOpportunity Analysis and Industry Forecast, 2021â2027,â the worldwide fantasy sports market was valued at USD 18.6 billion in 2019 and is anticipated to attain USD 48.6 billion by 2027, showcasing a compound annual growth rate (CAGR) of 13.9% from 2021 to 2027.
Fantasy sports platforms team up with big sports leagues like the ICC Cricket World Cup, the Indian Premier League (IPL), and the Pro Kabaddi League to get more visibility and connect with a larger audience. These partnerships also boost user engagement and participation. However, during IPL 2024, fantasy gaming apps are finding it difficult to maintain their marketing and sponsorship efforts as they grapple with the burden of GST.
Indian Online Gaming Sector from the Year 2019 to 2023 With Forecasted Value for the Year 2025
Impact of the GST on Fantasy App Operators
The rate of GST tax has left fantasy app operators scrambling to assess its impact on their businesses.
The sudden increase in tax rates from zero to 28% has significantly increased their operational costs. This, in turn, may lead to a decrease in revenue and profitability for these platforms.
According to market reports, more than four months following the enforcement of a 28% GST on the sector, gaming companies have witnessed a staggering increase in operating costs, ranging from 4x to 6x. This surge in costs has significantly impacted profitability, leading to diminished or non-existent returns for many players in the industry.
As per Inc42 Weekly Brief, over 500 employees were laid off by Mobile Premier League (MPL), Hike (Rush), and Spartan Poker, with Bengaluru-based Gameskraft‘s Gamezy Fantasy, MPL-backed Striker, Fantok, and Quizzy ceasing operations.
âThe new rules will increase our tax burden by as much as 350-400%. As a business, one can prepare for a 50% or even a 100% increase, but adjusting to a sudden increase of this magnitude means we need to make some very tough decisions,â the co-founders said in an email to the employees,â MPL CEO and co-founder Sai Srinivas had said in an internal email to employees.
Who Are the Key Players in the Fantasy App Business?
App Name
Ratings
Type
Big Cash
4.7 Stars
Multi-Gaming RMG
Dream 11
4.5 Stars
Fantasy Gaming
My Team 11
4.3 Stars
Fantasy Gaming
MPL
4.1 Stars
Multi-Gaming RMG
Howzat
4.4 Stars
Fantasy Cricket Gaming
Fan2Play
4.3 Stars
Fantasy Cricket Gaming
Paytm First Games
2.7 Stars
Multi-Gaming RMG
BalleBaazi
3.3 Stars
Multi-Fantasy Gaming
Vision11
2.3 Stars
Fantasy Cricket Gaming
11Wickets
4.1 Stars
Multi-Fantasy Gaming
The higher tax rate means that fantasy app operators may have to make tough decisions such as reducing marketing budgets, cutting down on user acquisition initiatives, laying off employees to streamline costs, or even increasing the fees charged to users.
All of these measures could have a negative impact on the overall user experience and may deter new users from joining these platforms.
Potential Consequences for Fantasy App Users
The retrospective GST tax has the potential to affect fantasy app users in several ways.
Firstly, the increased costs incurred by app operators may be passed on to the users, making participation in fantasy games more expensive. This could lead to a decline in user engagement, as players may be hesitant to spend more money on these platforms.
Additionally, the higher tax rate may also result in reduced prize pools and rewards for winners. Fantasy app operators, burdened by the additional tax liability, may be forced to cut back on offering attractive incentives to users
This could further dampen the enthusiasm of fantasy gaming enthusiasts and discourage them from actively participating in the games.
A media report quoted Aman Gupta, VP of Finance at Witzeal Technologies, a new-age gaming tech company, as saying, âAlready, several startups in the gaming sector have ceased operations following the 28% GST adjustment. If the governmentâs anticipated review post-March fails to yield favorable results, I anticipate dire consequences for numerous gaming companies, including major players.â
With the Lok Sabha polls announced and the government in election mode, it’s unlikely there will be any changes to the GST rate for fantasy gaming before June.
Responses From Fantasy App Operators and Industry Experts
Fantasy app operators have expressed concerns about the GST tax and are seeking solutions. Many are disappointed with the abrupt implementation of the tax and are urging a reconsideration of the tax rate.
Industry experts have also weighed in on the matter, highlighting the need for a balanced approach that takes into account the impact on both operators and users.
With around 71 show-cause notices issued by the government and approximately Rs 1.12 lakh crore at stake, clear regulations and a unified legal approach nationwide are crucial.
Forecasts suggest that revenues from this sector are poised to reach an impressive Rs 29,000 crore.
The industry suggests that a lower tax rate or a phased implementation could help mitigate the negative consequences of the tax and ensure the continued growth of the fantasy gaming industry.
âOur legal advisors have indicated that the current environment creates uncertainties that we cannot ignore. The recent imposition of a 28% GST on the entire realized amount, coupled with high TDS and issues related to payment gateways, has further compounded these challenges. Additionally, the substantial cost of customer conversion has placed a significant strain on our resources,â a social gaming platform, FanTok said on the professional networking site LinkedIn before ceasing its operations temporarily.
Exploring Alternative Revenue Models for Fantasy Apps
To overcome the challenges posed by the retrospective GST tax, fantasy app operators are exploring alternative revenue models.
One such model is the introduction of in-app purchases or subscriptions. By offering additional features or premium content at a nominal cost, operators can generate revenue without solely relying on participation fees.
Another approach is strategic partnerships and sponsorships. Fantasy app operators can collaborate with brands and advertisers to create mutually beneficial campaigns.
This not only diversifies their revenue streams but also enhances the overall user experience by providing engaging and relevant content.
Marketing Strategy for Fantasy Apps During IPL With GST in Place
Opt-In Registration Campaigns
Launch enticing campaigns across digital channels to encourage users to subscribe for SMS and WhatsApp updates, emphasizing real-time updates and exclusive offers.
Timely Updates and Reminders
Send regular updates on IPL matches, trade deadlines, and player news directly to subscribers’ phones to keep them engaged and informed throughout the season.
Exclusive Offers and Discounts
Offer special promotions, such as discounted entry fees and referral bonuses, exclusively to subscribers to incentivize participation and foster loyalty.
Real-Time Player Insights
Deliver instant updates on player performance, injuries, and trade rumors to empower users to manage their fantasy teams effectively.
Interactive Engagement
Engage subscribers with interactive contests, polls, and surveys related to IPL matches, rewarding active participation and valuable feedback.
Responsive Customer Support
Utilize SMS and WhatsApp for quick and convenient customer support, addressing queries and resolving issues promptly to enhance user experience.
Strategic Cross-Promotions
Partner with sports brands and media outlets to amplify reach and promote the fantasy app’s subscription service, leveraging collaborative opportunities during the IPL season.
Implementing these strategies will enable fantasy apps to leverage SMS and WhatsApp marketing effectively, driving user engagement and participation despite the challenges posed by GST implementation.
The Future of Fantasy Apps in the Wake of the GST
The fate of fantasy apps in this Indian Premier League season and beyond hinges on their ability to adapt to the new tax regime.
While the initial shock of the retrospective GST tax may have caused disruptions, operators and users alike are resilient and eager to find viable solutions.
Despite the challenges, the IPL season remains an evergreen golden opportunity for fantasy app operators to attract new users and retain existing ones.
The thrill of the games and the spirit of competition continue to captivate cricket fans, making fantasy apps an enticing platform for engagement and entertainment.
Tips for Fantasy App Operators to Navigate the Changing Landscape
To navigate the changing landscape of the fantasy gaming industry, app operators need to be proactive and strategic.
Here are some tips to help them stay ahead:
Focus on User Retention
Prioritize the needs and preferences of existing users by enhancing their experience through personalized recommendations, rewards, and exclusive content.
Invest in Marketing
Despite the increased tax burden, allocate a portion of the budget to marketing efforts, targeting potential new users and expanding the user base.
Leverage Data Analytics
Utilize advanced analytics tools to gain insights into user behavior, preferences, and trends. This data can be used to refine marketing strategies and improve the overall user experience.
Strategies for Fantasy App Users to Continue Enjoying the IPL Season
For fantasy app users, the retrospective GST tax shouldn’t deter them from enjoying the IPL season and participating in their favorite games.
Here are some strategies to make the most of the season:
Plan your Budget
Set a budget for fantasy gaming and stick to it. Be mindful of the increased costs due to the tax and allocate your funds accordingly.
Explore Alternate Platforms
Consider trying out different fantasy apps to find the one that offers the best value for your money.
Take Advantage of Promotions
Keep an eye out for promotions and special offers from fantasy app operators. They may provide an opportunity to maximize your winnings and offset the increased costs.
Adapting to the New Reality of Fantasy Apps in the Post-GST Era
The retrospective 28% GST tax has undoubtedly posed challenges for fantasy app operators and users alike. However, it is crucial to adapt to the new reality and find innovative solutions to sustain the growth and popularity of fantasy gaming.
While the fate of fantasy apps in this IPL season remains uncertain, one thing is clear – the spirit of competition and the love for cricket will continue to drive users towards these platforms.
By embracing change, exploring alternative revenue models, and prioritizing user experience, fantasy app operators can weather the storm and emerge stronger than ever.
â With Dream11 already having a big piece of the pie, smaller companies might feel the heat. This could lead to a pure monopoly as Dream11 grows even bigger, giving them more control over platform costs. If the decision to remove GST is made, Dream11 could emerge as the eventual winner,â a cricket enthusiast posted on networking site LinkedIn.
And for users, the thrill of creating virtual teams and competing against friends and fellow cricket enthusiasts will keep the excitement alive, despite the financial implications of the GST tax.
Conclusion
In conclusion, the decision by Indiaâs GST Council to levy a 28% GST on online gaming has stirred debate and apprehension among industry professionals.
While the government’s intention to prevent gambling is understood, industry stakeholders fear catastrophic repercussions, including job losses, restrictions on foreign investment, and a potential shift towards illegal offshore platforms.
The future of the online gaming sector hangs in the balance, with the industry pleading for reconsideration of the high tax rate. Only time will reveal whether the government will heed these concerns and revisit its decision, ensuring a more balanced approach that fosters both regulatory compliance and industry growth
So, as the IPL season unfolds, let us embrace this new reality and continue to enjoy the magic of fantasy apps, creating unforgettable moments and memories that will last a lifetime.
FAQs
What are the top fantasy apps in India?
The top fantasy apps in India include Dream11, MPL (Mobile Premier League), MyTeam11, BalleBaazi, and FanFight, among others.
How popular are these fantasy apps among users?
These fantasy apps boast millions of users and have a significant presence in the Indian gaming market. Dream11, in particular, has emerged as a market leader and official partner of major sports leagues like IPL.
What types of games do these fantasy apps offer?
These apps primarily focus on cricket, but they also offer fantasy leagues for other sports such as football, basketball, kabaddi, and more. Users can create virtual teams of real players and earn points based on their performance in actual matches.
How do these apps generate revenue?
These apps generate revenue through various channels, including entry fees charged for participating in fantasy leagues, advertising, sponsorships, in-app purchases for premium features, and partnerships with sports leagues and brands.
Are these apps legal in India?
Yes, fantasy sports apps operate legally in India under the exemption provided for games of skill in state gambling laws. However, they must comply with certain regulations and guidelines set by regulatory authorities to ensure fair play and responsible gaming practices.
The year 2005 saw the launch of Reddit, an online community and message board. Over 100,000 distinct neighborhoods/communities (Subreddits) make up Reddit’s infrastructure; each has its own lingo, culture, customs, and set of rulesâwritten and unwritten alike. In these communities, people build their own neighborhoods and also moderate it to make sure it stays secure, lively, and, most importantly, authentic to who it is.
At present, Reddit ranks as both the seventh most popular social networking platform and the sixteenth most viewed website in the world. The ability to publish anonymously is the site’s main selling point since it promotes honesty and openness.
Being the first US-listed social media firm in the last five years (since Pinterest’s launch in 2019), it’s sure to be a widely watched initial public offering. After a long absence of tech IPOs, investors and entrepreneurs will be keeping a close eye on this one to see whether it will revive the market for initial public offerings.
According to sources close to the situation, Reddit’s first public offering is four to five times oversubscribed, which increases the likelihood that the social media network will achieve its $6.5 billion valuation target.
Although the oversubscription does not ensure a successful stock market debut, it does indicate that the company is well-positioned to achieve its target price range of $31 to $34 per share when pricing the initial public offering.
Reddit CEO Steve Huffman on IPO debut: The best investors of Reddit are people who use Reddit
Reddit has been an integral part of the social media landscape since its 2005 inception. One of the most recognizable trademarks on the internet is its famous logo, which features an extraterrestrial against an orange backdrop.
“The sublime to the ridiculous, the trivial to the existential, the comic to the serious” are just some of the subjects that can be discussed on its 100,000 online forums, called “subreddits,” according to co-founder Steve Huffman. According to Huffman’s letter, he sought assistance from one of the subreddits in order to stop drinking. Similarly, in 2012, former US President Barack Obama conducted an interview with the site’s users called an “AMA” (“ask me anything”).
In 2021, members of the company’s powerful communities gained notoriety for their involvement in the “meme-stock” scandal, in which a number of individual investors pooled their resources on Reddit’s “wallstreetbets” forum to purchase shares of heavily shorted firms, including gaming retailer GameStop.
Worldwide Visits to Reddit.com From July to December 2023
A Flimsy Business Projection
Contemporaries like X (formerly known as Twitter), Facebook (META.O) by Meta Platforms, and opens new tab have been more successful than Reddit, despite the cult-like status of its supporters.
In a previous filing, the firm claimed to be “in the early stages of monetizing (its) business” and to have never made a profit.
For the three months ending December 31, 2023, Reddit reported an average of 73.1 million daily active “uniques” (users who log in at least once per day).
Another issue that advertisers have pointed out is the company’s lax approach to content management.
In order to keep the forums free of inappropriate material, it depends on volunteers from its user base. In 2023, a number of moderators resigned in protest of Reddit’s intention to charge outside app developers for data access, but they are free to resign at any moment.
Reddit Is Also Trying to Regulate AI to Help It Grow
Another way Reddit plans to make money off of its platform is by selling licencing its content rights to companies who use it to train AI models. Last month, a renowned media house reported that Google and Reddit had signed an agreement to use Reddit content to train Google’s huge language models. The transaction is worth $60 million per year.
But even that income isn’t without its doubters. Last Monday, Reddit announced that the FTC is investigating its licencing practices for user-generated content.
“Given the novel nature of these technologies and commercial arrangements, we are not surprised that the FTC has expressed interest in this area,” a regulatory filing from Reddit stated. “We do not believe that we have engaged in any unfair or deceptive trade practice.”
Even more so in the beginning, IPO stocks can be somewhat unpredictable. Redditors, the name given to both users and moderators on the platform, were allotted around 8% of the 15.3 million shares that were issued during the IPO. There will be no lockup period for those users; they can sell whenever they want, according to the Reddit post.
FAQs
What is Reddit?
Reddit is an online platform enabling users to share links or text posts encompassing various content types, including images, videos, news articles, and discussion threads, fostering a vibrant community-driven experience.
Who are the founders of Reddit?
Reddit was founded by Steve Huffman and Alexis Ohanian, and Aaron Swartz in 2005.
When were subreddits created?
The feature of commenting on posts was introduced several months after Reddit’s initial launch, while users gained the ability to create their own subreddits in 2008.
In the fast-paced and ever-evolving landscape of startups, where innovation meets ambition, lies a silent struggle often overlooked – the mental health of entrepreneurs.
At StartupTalky, we’re diving into a crucial yet often overlooked issue: the mental health hurdles faced by startup founders. The relentless pressure to succeed, coupled with long hours and constant uncertainty, can take a significant toll on the well-being of founders striving to make their mark in the industry.
In February, Nithin Kamath, the co-founder of India’s largest stock brokerage firm, Zerodha, spoke about suffering a stroke, emphasizing the importance of prioritizing health amidst the pressures of entrepreneurship.
According to a recent study, nearly 49% of CEOs face mental health issues, with burnout, stress, and anxiety being common experiences.
Sandeep Ghule, co-founder of Credilio, emphasizes the need for preventive measures, stating, “A thorough preventive health check that goes beyond regular tests is a must.” He advocates for healthy eating habits, regular exercise, and stress-reducing practices like yoga and meditation to mitigate the risks associated with the high-pressure startup environment.
Ghule has been a product & marketing professional for over 20 years. He has built and marketed technology-enabled cards, wallets, and digital payment products at ICICI Bank, HSBC, TranServ (as a co-founder), and at Indiabulls Consumer Finance.
Zerodhaâs Nithin Kamath Suffered A Stroke | What Are The Warning Signs? | âBEFASTâ Technique
Ritu J Goyal Harish, founder of Ease India Travel, sheds light on the personal sacrifices often made in pursuit of entrepreneurial success.
Despite the demands of her startup, Ritu carves out time for activities that rejuvenate her, whether it’s hiking in the hills of Pune or simply spending quality time with loved ones. For her, maintaining a healthy balance is not negotiable â it’s essential for long-term success and well-being.
My business involves a lot of traveling, staying out of home, and disrupting my routine. It entails sleeping in various cramped spaces without proper beds and compromising on food and other comforts. Naturally, all these factors can take a toll on one’s mental well-being. So, the primary strategy I adopted was to align with my body clock. I discovered that I need to sleep between 7:30 and 8:30 pm. Missing this window would mean I couldn’t fall asleep until 01:00 at night. Hence, I prioritized early bedtime, which consequently led to early mornings. Waking up by 4:00 am allows me ample time for meditation, deep thinking, and journal writing. These practices are instrumental in maintaining my mental health and resilience amidst the challenges, I face, says Ritu Goyal, who is currently reinventing herself as a travelpreneur and helps organize quirky, unusual, exciting and fun trips.
Ease India Travel promises great travel experiences to destinations, which are not popular yet on the internet.
The recent health scare of Nithin Kamath, founder of Zerodha, has underscored the high-pressure nature of the startup world. Kamath suffered a stroke, a stark reminder of the physical toll that stress and overwork can exact on individuals.
His experience serves as a wake-up call for entrepreneurs to prioritize their well-being and seek a balance between ambition and self-care.
Sushant Roy, Chief Operating Officer & Chief Business Officer at Alyve Health, advocates for proactive wellness initiatives to combat the challenges of startup culture. “Stress management activities such as yoga, listening to your favorite music, and spending time with loved ones are some immediate steps to prevent long-term health issues,” he suggests.
By fostering a culture of holistic health within their organizations, founders can mitigate the risks of burnout and promote overall well-being.
âThe rapid development on the technological front has blurred the line between personal and professional zones and we are connected to our professional commitments 24×7. It is important to strive for professional success but at the same time, we need to focus on our overall health to enhance productivity and remain healthy in the long term,â Roy, who is the co-founder of a company dealing in the health, wellness, and fitness industry.
In the face of uncertainty and adversity, entrepreneurs like Shubham Rawal, CEO of StockPe, embrace stress as an inherent part of the entrepreneurial journey. “If you are a founder/CEO, then you are married to stress,” he remarks. Rawal emphasizes the importance of strategic decision-making and resilience in navigating the challenges of startup life, acknowledging that mistakes are inevitable but essential for growth.
âWe all strive to maintain a balance, but it’s rarely a perfect 50-50 split; it’s often more like 90-10 or 70-30. I’ve carved out a dedicated 2-hour slot on my calendar for gyming, a practice I’ve been incorporating on and off since 2018. I make a conscious effort not to schedule any meetings during this time, and I’m transparent with my team about how important it is for me. They appreciate my honesty and understanding,â says head of StockPe.
StockPe is the first platform to gamify stock education in India. The app allows learning from mistakes and refining strategies before one dives into the real stock market trade.
âBeing aware of your mental health is crucial, and I’ve been vocal about this aspect. Sometimes, I even advise mental health companies. I can sense my creativity and questioning skills getting drained, and that’s when I take time to either go for a walk, take a few hours off, or hit the gym. When I feel like I’m burning out, I tend to go for a long drive with good songs. I enjoy driving, and engaging in activities you love apart from work can uplift your mood significantly, â said Rawal, who aims at providing financial education to new-age investors like college students, freshers in a fun way.
Ria Rustagi, the visionary founder of Neuphony, echoes the sentiments of prioritizing mental health in the startup ecosystem. She feels regular exercise, mindfulness practices like meditation, and open communication with the team ensure a healthy work-life balance through setting boundaries and taking breaks when needed.
“These practices help me stay focused, resilient, and effective in my role,” says Rustagi, CEO and Co-Founder of Neuphony. Neuphony is Indiaâs first and only brain wearable device that helps monitor brain activity and converts data into user-understandable formats such as stress, focus, and distraction levels.
âJust like Nithin, many of us are founders, including me, or corporate people with hectic work hours, leading busy lives and juggling multiple responsibilities. Itâs essential to prioritize self-care amidst the hustle. Ultimately, this is a wake-up call for all of us to know when itâs the need to shift a gear down!,â Rustagi, who received funding in Shark Tank India Season 2, wrote on a professional networking website LinkedIn.
In startups, vulnerability is often perceived negatively, yet CEOs like Ria Rustagi demonstrate their power for positive change. Through open sharing of struggles, they cultivate trust and authenticity within their teams in Neuphony, fostering a supportive environment where everyone feels valued.
Dr. Prarthana Shah, an integrative health coach specializing in preventive cardiovascular medicine, shares her insights into the unique pressures faced by entrepreneurs and helps them take stock of their current life situation.
“72% of startup CEOs and founders struggle with mental health, from anxiety, burnouts and panic attacks. Their roles are challenging and often the journey of a founder is filled with challenges and uncertainty. They suffer from insomnia and stress. The stress takes a serious toll on their mental health. Blood pressure issues are also fairly common and if these founders donât take charge of their health, they can also face challenges with obesity, diabetes etc.,â Prarthana, Founder of Buova, remarks. Buova is a health coaching practice, where Shah helps people globally become their happiest and healthiest versions.
She highlights that her sessions help CEOs first identify their why. âAfter that through motivational interviewing, I help them carve out time (whether it’s less or more) to do something to prioritize themselves. We work to incorporate activities that honor their specific health needs. Whether itâs exercising, eating healthier living more mindfully, or even working on their sleep, we identify areas of concern and work towards filling those gaps. Through coaching, I help them create a roadmap to navigate this fast-paced life and still take time out for themselves and their health.â
Executive Coach and Founder of Lucid Minds Coaching, Sridhar Laxman, emphasizes the importance of self-awareness and holistic well-being in the entrepreneurial journey. “Well-being is not a short vacation plan; it brings results when it is sustainable, ongoing, and treated with equal importance,” he advises.
Sridhar advocates for a balanced approach to success, where mental health is prioritized alongside professional achievements. âIn startups, individuals handle multiple responsibilities with less expertise in each of them. The pace of work is fast as they are venturing into newer, unknown markets, and competition can come swiftly from anywhere in the world. The result, more often than not, is high levels of stress, which then manifest in different forms like sleep deprivation, disturbed sleep, inability to focus or concentrate, irritability, fatigue, lowered energy, frequent headaches, back pain, acidity, gut-related discomfort, anxiety, restlessness, palpitations and eventually burnout and more severe health challenges.â
Laxman helps CEOs by making a plan for the desired state and breaking it down into small, easy-to-do everyday steps. Add to that reorganizing lifestyle, work and rest hours, proper nutrition, and exercise. Lastly, knowing when to seek help, be it a counselor, therapist, or coach, so they don’t have to try to address it alone is also vital to their well-being.
Dr. Rahul Chandhok, Head Psychiatrist at Artemis Hospitals, sheds light on the typical stress-related symptoms and mental health challenges observed in startup CEOs.
“Anxiety, depression, insomnia, mood swings, and physical symptoms such as headaches and fatigue are common among startup CEOs,” Chandhok explains.
The relentless pressure to succeed, coupled with the fear of failure, can take a toll on their well-being. However, amidst the chaos, therapeutic interventions offer a glimmer of hope.
“Cognitive-behavioral therapy (CBT), mindfulness-based interventions, stress management techniques, and support groups have proven effective in addressing stress and promoting resilience among high-stress individuals,” Chandhok remarks.
But when do stress levels warrant urgent psychiatric attention? “Persistent suicidal thoughts, severe impairment in daily functioning, substance abuse, or psychotic symptoms require immediate intervention,” Chandhok emphasizes. These red flags signal the need for urgent psychiatric evaluation and support.
In response to the growing mental health crisis among startup founders, specialized support programs and resources have emerged. Founder-specific therapy, startup accelerators/incubators offering mental health support, peer support networks, and online resources tailored to entrepreneurs provide much-needed assistance.
Amidst the statistics and clinical insights, the stories of startup founders like Ria Rustagi and Prarthana Shah offer a poignant glimpse into the human side of the startup world.
The startup culture presents a unique set of challenges for entrepreneurs, often taking a toll on their mental health.
By prioritizing self-care, fostering open communication, and seeking support when needed, founders can navigate the turbulent waters of startup life while safeguarding their well-being.
It is imperative to address the stigma surrounding mental health and create a culture, where entrepreneurs feel empowered to prioritize their mental and emotional well-being.
As the startup landscape continues to evolve, mental health must remain at the forefront of discussions. With the right support and resources, founders can navigate the highs and lows of entrepreneurship while safeguarding their well-being.
FAQs
What is mental health?
Mental well-being is the state wherein individuals can effectively manage life’s challenges, harness their capabilities, excel in learning and productivity, and actively participate in their communities.
Which mental health issues are most common across the world?
The most common mental health issues are insomnia, anxiety, and obsessive-compulsive disorder (OCD).
What is the size of the global mental health market?
As per Yahoo Finance, the global mental health market was valued at USD 375.21 billion in 2022 and is expected to reach USD 532.86 billion in 2030.
Automobile manufacturers have been stepping up their technological game to become industry leaders in electric vehicles ever since the notion was first presented globally. As a result of Tesla’s success, worldwide corporations are racing to be the first to cash in on this industry’s promising future. The electric vehicle market is very competitive in India as well. India revealed its lofty goal of decarbonization for 2030 at COP26. In addition to joining the worldwide EV30@30 campaign, this means cutting energy sector carbon emissions in half and increasing renewable energy generation capacity to 500 gigawatts by 2030. India plans to do this by tripling its present renewable capacity and setting a specific target of having 30 percent of new car sales be electric vehicles (EVs) by 2030 through its EV30@30 program.
At least in the realm of passenger cars, that is an enormous undertaking. With 49,800 EVs sold out of 3.8 million passenger vehicles in 2022, electric cars made up just 1.3% of all vehicle sales. With both established and up-and-coming firms investigating various avenues for research and development and commercial manufacturing of automobiles and auto parts, the automotive industry and related sectors are optimistic about the future of electric vehicles.
According to media projections, the electric vehicle industry in India might reach $7.09 billion by 2025, up from $2 billion in 2023. Sales of electric vehicles in the United States are expected to reach 10 million units per year by 2030.
Sanjay Gopalakrishnan, BYD’s senior vice president of electric passenger vehicle business, told a prominent media house that the company’s goal in India is to maintain its dominance in the electric vehicle (EV) sector priced over Rs 30 lakh. “We have multiple SUVs globally, but we thought that Seal is the right product for the Indian market,” Gopalakrishnan explained when asked why the company would introduce a sedan in a nation where SUVs are in high demand. The world over, people are raving about it. It goes up against Tesla’s Model 3. Customers in India are familiar with the Model 3, so we figured they would be interested in trying out a Model 3 rival that showcases our technology and performance.
Across the country, BYD now operates 24 dealerships. Gopalakrishnan reiterated the company’s goal of penetrating 90% of the market for electric vehicles.
The Chinese electric vehicle maker had planned to build an electric vehicle (EV) assembly plant in Hyderabad in conjunction with Megha Engineering and Infrastructures Ltd (MEIL) last year, but the Indian government turned down their $1 billion investment offer.
India Electric Vehicle Market Size, 2022 to 2032
Developments in the International Market
Companies in the international EV industry are releasing a plethora of new, feature-packed models that are characterized by cutting-edge technology. As the formal premiere of its highly anticipated electric car, the SU7, approaches on March 28, the famed Chinese smartphone giant Xiaomi is preparing for a momentous occasion. The company’s strong statements regarding the car’s availability right after launch indicate a major shift towards the electric vehicle (EV) industry.
In 2018, Volvo began investing in small firms with the hope of developing technology that may be utilized in its vehicles. Some of these companies have developed software that can reduce the time it takes to charge batteries by 15-30% (from 10-80%), as stated in the report. The algorithmic charging process is managed by the UK-based startup Breathe Battery Technologies. In contrast to conventional electric vehicles, which use a phased charging program with predetermined limitations to save their batteries, Breathe’s technology allows for real-time dynamic regulation of energy flow.
Even though the US federal government would not subsidize the purchase of a 2024 Kia EV9âan electric three-row SUVâKia itself will. All EV9 purchases made by April 30 will receive a $5,000 cash discount from the manufacturer. This means that customers may obtain a base Light trim for as low as $51,395 or a top-tier GT-Line for as low as $70,395 (with a destination cost of $1,495).
Indian Government Going Vocal for Local
During the early stages, the Central Government is considering granting companies like Tesla a decrease in import charges on fully constructed units to boost domestic manufacturing. And because the government plans to set up a regulatory framework for high-tech car makers, local sourcing will be a need. The initiative aims to reduce the import duty on environmentally friendly vehicles. If Indian carmakers agree to start manufacturing their vehicles in India and sourcing their components locally, the duty could be reduced significantly, possibly from 100% to as low as 15-30%.
Furthermore, these businesses will be asked by the government to guarantee that they will create a supplier ecosystem, with a primary goal of obtaining 20% of the components from local sources in the first two years. It is anticipated that this percentage will rise to 40% by the end of the fourth year of the agreement.
For a long time now, Reliance Industries has been one of the major Indian conglomerates that has caused a stir. This ideal corporate realm, founded by Dhirajlal Hirachand Ambani, also known as Dhirubhai, a global business titan and visionary, has gone a long way since its beginnings. The narratives of Dhirubhai and Reliance are intricately intertwined. Since its inception, Reliance has made tremendous strides. It was originally fiber. Jio Fibre is the product of its current self-sufficiency. In its digital network, you can’t see every fiber. The network or fabric that Mukesh Ambani, Dhirubhai’s son, is weaving contains wireless fiber, though.
Fabric was the next step after Dhirubhai worked with yarn. The hit single “Only Vimal” by Reliance was the one that got everyone talking. Dhirubhai was perceptive about the requirements of both India and Reliance. In a whirlwind of activity, he embarked on a journey of reverse integration. He required fiber for his yarn.
Soil, water, manure, and organic compounds are the four main ingredients for natural fiber. The limitations of cotton’s productivity were known to Dhirubhai. To produce enough fabric to dress the millions, cotton is an expensive material. Affordable clothing was a requirement in India. The synthetic fabrics and inorganic compounds were selected by Dhirubhai.
Even India needed a little flair. Reliance was well-versed in fashion. It had to succeed as a B2C enterprise, which deals directly with consumers. Storytellers and strategy specialists may learn a lot about management from this.
Back in 1983, India emerged victorious at the Prudential Cricket World Cup. England played host to the first three tournaments in 1975, 1979, and 1983. The British worldwide insurance group Prudential, which was founded in 1848, sponsored all three.
Dhirubhai took advantage of the situation and secured the opportunity to sponsor the 1987 Cricket World Cup in India, representing the nation and the world at large. Cricket was Reliance’s way to elegance and substance in its big business-to-consumer venture. The 1987 World Cup was held in Pakistan and India. The final was place on November 8, 1987, at Calcutta’s (now Kolkata) gorgeous Eden Garden.
The Reliance Cricket World Cup was presented to Allan Border, the captain of the victorious Australian side, by Dhirubhai. Border took two wickets while batting superbly. One in particular stands out: he bowled out the English team’s captain, Mike Gatting, who was leading the losing side.
Allan Border’s role in opening Reliance’s door to a borderless globe is significant. Sponsorship of a World Cup ended with the 1987 Reliance tournament. Reliance had come as a business-to-consumer enterprise.
Oil and gas exploration, petrochemicals, refining, telecommunications, retail, and digital services are the company’s main abilities. RIL’s expansion and new product development are the result of Mukesh Ambani‘s forward-thinking leadership.
As a major supplier of energy to India and a major exporter of petrochemicals and refined products, Reliance has carved out a niche for itself on the international stage. It operates one of the biggest and most intricate refineries in the world at its Jamnagar facility.
The telecoms branch of RIL, Reliance Jio Infocomm, changed the game in India’s digital environment by providing affordable, high-speed data. When it comes to connecting to and using digital services, India has never been the same since Jio launched its extensive network coverage and creative products.
Reliance Retail, the retail division of the corporation, operates a large network of stores selling groceries, electronics, clothing, and more in a variety of forms. Its expansion plans and smart acquisitions have made it the undisputed leader in India’s retail industry.
Continue to Climb
From 2002 to 2023, India’s GDP increased sixfold, from $0.5 trillion to $4.11 trillion. The company’s income has increased multiplefold since 2002. During that time, its market capitalization has increased by a factor of ten or more.
Reliance exports petroleum products. With a daily stream capacity of 1.24 million barrels, its Jamnagar refinery is quite capable.
Many well-known brands are owned by Reliance. These include Ajio, Jio Mart, Reliance Trends, Reliance Fresh, Reliance Smart, and Reliance Digital. Many industries have been shaken up by Reliance’s Jio Platforms. Jio has captured more than 34% of the market and attracted 387.5 million members in just four years.
Revenue of Reliance Jio From Financial Year 2019 to 2023
An ode to the public firm that is owned and operated by its owners is Reliance. With a stake of over 45%, the Ambani family controls the majority of the company. As a remedy for “agency costs,” an extremely large internal holding is ideal.
Reliance has integrated management, ownership, leadership, and enterprise. Many American and European companies have long admired its ownership and management style. Ever since Reliance decided to issue its global depository receipts in May 1992, people have been talking about the company’s management and ownership. Institutional shareholders, who are among the most demanding shareholders in the world, have been aware of Reliance’s strengths since 1993. Even though it’s been 31 years, more and more people are jumping on the Reliance bandwagon.
FAQs
What is the telecommunication branch of Reliance Industries?
Reliance Jio Infocomm is the telecommunication branch of Reliance Industries.
Who is the founder of Reliance?
Dhirajlal Hirachand Ambani, also known as Dhirubhai Ambani founded Reliance Industries.
What was the revenue of Reliance Jio in 2023?
Reliance Jio generated a revenue of INR 1197.91 billion in 2023.
Alan Joseph
