StartupTalky

Tag: 🔍Insights

  • Cyber Attacks: India the Third Most Cyber-Attacked Nation

    The digital world has made our life easier and faster. Nowadays, anything is possible with just a click or a touch. It wouldn’t be wrong to say, that our life revolves around the internet. Every business, organisations, and companies are on the internet. However, with the increase in the use of the internet in the world, we have seen a drastic increase in cybercrime as well. Many organisations and faced cyber-attacks on them.

    Firstly we need to understand what a cyber-attack is. A cyber-attack can be defined as a malicious activity or planned attempt by any organization or an individual to steal or corrupt the information of the system of another organization or individual. Cybercriminals or hackers generally use various methods to attack the system; some of them are malware, ransomware, phishing, denial of service, and other methods. In this article, we will talk everything about India being the third most cyber-attacked nation and what steps the Government has taken. So, let’s take a look at them.

    Types of Cyber Attacks
    Reasons Behind Cyber Attacks
    Biggest Cyber Attacks in India
    Steps Taken by Indian Government

    Types of Cyber Attacks

    Cyber attacks are done in many forms by criminals and hackers and some of them are defined below:

    Malware

    Malware can be known as malicious software, which includes spyware, viruses, worms, and ransomware. Malware violates laws and launches a network through a vulnerability, generally happens when a person clicks on a minacious link or email attachment that then installs the risky software into your system without your permission. Once this software attacks your system, the malicious software can manage to do things such as install some more malicious and additional harmful software, can obtain and spy on all the information present on the hard disk, can disrupt some components of the system, and can block your access to manage some important components of a computer network.

    Phishing

    It is a cyber-crime in which a target receives an Email, telephonic call, or a text SMS by someone who pretends to be a lawful organization or institute to lure the targets into providing essential data and sensitive information such as banking details, credit cards, and debit card details, personal information, and various account passwords. Then these details are used by the attacker to access the information-which can further result in financial loss, cyberbullying, cyber blackmailing, and identity theft.

    Man-In-The-Middle Attack

    This cyber-attack is also known as eavesdropping, takes place when attackers insert themselves in between transactions of two-party. Once the attacker interrupts the traffic, they can rectify and steal information. On less secure public Wi-Fi, attackers can indulge themselves between a visitor device and the network through the same Wi-Fi connection. Without having an idea, the user passes all information through the attacker- after the malware reaches inside the device, the attacker can install malicious software to steal all of the victim’s data.

    Denial-Of-Service Attack

    DoS is a cyber-attack that is meant to shut down a server, network, and machine by making them inaccessible to the right users. DoS floods the target with traffic, or it just sends irrelevant information that triggers a crash of the server or network.  Sometimes attackers can also use multiple compromised devices to attack. This is known as Denial-of-service (DoS).

    SQL Injection

    Structured Query Language Injection is a cyber-attack that takes place when the attackers insert the malicious coding inside the server that takes over the SQL and forces the system server to disclose the crucial information and data. SQL Injection destroys the database, and the attacker can modify or delete the data stored in the database, causing persistent changes to the application behavior or content.

    DNS Tunneling

    It is the most damaging DNS attack. Domain Name Systems turns into a hacking weapon. DNS tunneling is a cyber-attack where the hacker or attacker encodes the information of other protocols or programs in DNS queries and responses. DNS tunnelling generally holds data payloads-which can be added to an attacked DNS server and is used to control applications and remote servers.

    Reasons Behind Cyber Attacks

    There are several reasons why these cyber attacks take place and they are:

    • To gain business financial details.
    • To gain customer financial information (for example- Bank details).
    • To gain product design or trade secrets.
    • To gain login credentials and email addresses of various customers or staff.
    • To gain or steal sensitive personal information.
    • To make a social or political point.
    • To destroy a business competitor.
    • For financial gains.
    • Cyber-warfare: It is a war caused by the Internet to leak information.

    Biggest Cyber Attacks in India

    SIM Swap Scam

    In Mumbai, two hackers were arrested for transferring almost 4 crore rupees from various bank accounts in August 2018. They illegally transferred money from the bank accounts of numerous individuals just by gaining SIM card information. Both the hackers blocked individual SIM cards, and with the support of fake documentation, they pulled out transactions with the help of online banking. Various company accounts were also on the target.

    Hacking of Indian Healthcare Websites

    In 2019, Health Care websites became the target of cyber-attack. As confirmed by US-based cybersecurity firms, hackers broke in and invaded a leading India-based healthcare website. The hackers were able to steal the information of about 68 lakh patients as well as doctors.

    Hacking of UIDAI Aadhaar Software

    In 2018, around 1.1 billion Aadhaar cardholders’ personal information was breached. According to data by UIDAI, more than 210 websites leaked the essential Aadhar details online. Data leaked included Aadhaar, mobile numbers, PAN, bank account numbers, IFSC codes, and mostly all the personal data of all individual Aadhaar cardholders. If it was not quite shocking, some anonymous hacker was selling the Aadhaar information of individuals for 500 rupees through WhatsApp.

    ATM System Hacked

    In 2018, cyber attackers targeted the ATM servers of Canara Bank. Almost around 20 lakh rupees were stolen from various accounts of Canara Bank account holders. There were around 50 targets estimated according to information provided by the source. The cyber attackers were able to steal the ATM details of around more than 300 account holders. Hackers were using skimmed devices to wipe out the information from debit cardholders. The transactions made by hackers from various accounts amounted from 10,000 rupees to a maximum amount of 40,000 rupees.

    Cosmos Bank Cyber Attack in Pune

    Attacked by hackers in the year 2018. The cyber-attackers pulled off almost 94.42 crore rupees from Cosmos Cooperative Bank, which shook the entire banking sector of India. Hackers were able to steal huge amounts by hacking the ATM server of the Bank and gathering the information of debit cardholders and visa details. Hackers from around 28 countries immediately withdrew all the money as soon as they were informed.

    Global Weekly Cyber Attacks per Organisation
    Global Weekly Cyber Attacks per Organisation

    Steps Taken by Indian Government

    To counter these attacks, the Government of India has taken a few steps to secure companies and organisation from being victim.

    Personal Data Protection Bill

    The bill implies the processing and storage of any critical data related to individuals living only in India. It majorly states that the sensitive and essential personal information of the individual should be stored locally; however, it can only be processed abroad under some terms and conditions. The bill also focuses on making social media companies more accountable and urging them to solve issues related to the spread of irrelevant and offensive content on the internet.

    Website Audit

    Surrounded by the rising number of government website hacking, data theft, email phishing, and privacy breach cases in India, the Indian government has taken initiatives to conduct an audit on all of the websites and applications of the government. Under this initiative by the Indian government, around 90 security auditing organizations have been enlisted by the government for auditing the best practices of information security of the Indian government data.

    CERT-In

    The advancing Indian Computer Emergency Response Team (CERT-In), which is responsible for operating the national agency for handling cybersecurity, has helped in decreasing the rate of cyber-attacks on government networks and servers in India. The implementation of cybersecurity awareness and anti-phishing training across Indian government organizations and agencies has assisted employees working in technological department of government sectors in fighting cybercrimes. Apart from spreading awareness of the hazard caused by phishing attacks to the public, CERT-In has issued advisories and alerts regarding the latest cyber countermeasures and vulnerabilities to counter and tackle them.

    Cyber Surakshit Bharat

    India aims to strengthen the cybersecurity ecosystem in coordination with the government’s vision for making Digital India. The Ministry of Electronics and Information Technology has come up with the Cyber Surakshit Bharat movement. This program is in association with the National e-Governance Division of India. Indian governance system has transformed digitalization rapidly; therefore, the requirement of good governance is important. With such an initiative by the government, there would be an increase in awareness against cybercrime and building the capacity for securing the CISOs and the frontline IT staff across all government organizations in India. Apart from just awareness, the first public-private partnership also includes a series of some workshops to make government employees fight against cybercrimes and help professionals with cyber security health tool kits to take down cyber threats.

    Conclusion

    Cyber-attacks have now become a weapon to launch attacks on different organisations. Mainly they are done to attain secrets of organisations or Governments. Unfortunately, because of this India has become prone to cyber-attack and in 2020, it recorded 1.16 million breaches alone. Some steps have been taken to counter these attacks, however more and more strong cyber security is needed.

    FAQs

    Which countries get cyber attacked the most?

    Top 3 countries that cyber attacked the most are:

    • Japan
    • Australia
    • India

    What do you mean by Cyber Attacks?

    A cyber-attack can be defined as a malicious activity or planned attempt by any organization or an individual to steal or corrupt the information of the system of another organization or individual.

    Which country is the best for cybersecurity?

    Sweden has suffered the lowest rate of malware infection. It is considered as one of the best country with cybersecurity.

  • Nutritional Startups Experimenting With Innovative Growth Strategies

    The article is contributed By Pranay Jain, Founder & CEO, BodyFirst

    Food and nutrition were formerly exclusively of interest to fitness and health-conscious individuals. For many years, the idea of fitness was limited to enhancing one’s appearance through gym memberships. In the last two years, the Covid-19 pandemic has gradually redefined the concept of healthy living and emphasized the need for immunity boosters and supplements. What, when and how individuals eat are becoming the main themes of discourse in contemporary culture. The post-pandemic period is now experiencing an increase in the number of persons benefiting from different health and nutrition products, which corresponds with the increase in the adoption of a healthy lifestyle.

    The numbers from before the pandemic illustrate this pattern. The Indian gyms, health and fitness industry expanded by 11% between 2016 and 2020, with over 71,000 new fitness and health apps being reported by analytics firm App Annie during the same period. Consequently, fitness app downloads have increased by 156%, which translates to 58 million new active users in 2020. Even before the Covid disruption, the nutritional and fitness startup space had interpreted this opportunity to serve the rising number of health and fitness enthusiasts as a result of this shift.

    Influence of the Pandemic on Placing a Premium on Health and Nutrition

    The pandemic underlined the need for proper diet and physical activity. By emphasizing health and nutrition, the necessity to battle chronic illnesses such as diabetes, hypertension, stress, and anxiety has become a priority. A fresh emphasis on adopting a healthy diet has finally resulted in enhanced productivity, discipline, and an active lifestyle. By adopting a healthier lifestyle, one’s prospects of overcoming unforeseen illnesses are greatly improved. This idea has contributed to the expansion of health and fitness apps while boosting the consumption of nutritional and health supplements.

    Wearables Add Flexibility to Accomplishing Fitness Goals

    In the last five years, fitness wearables have been at the forefront of an industry-wide transformation, empowering their users to maintain their physical health and mental agility. These devices are no longer only data measurement accessories but are integrating data and usage metrics with other smart exercising devices, fitness and diet training apps, and mindfulness activity trackers. Startups are leading the way in bridging the gap between reality and fitness goals by digitally aiding their customers, regardless of their actual location, to meet the required activity or exercise goals. Virtual fitness experiences contribute to the novel aspects of the technology that are rapidly establishing a quantitative and qualitative benchmark for actual transformation. These creative solutions have already created the groundwork for accomplishing fitness objectives, using a mechanism and method that are both adaptable and achievable.

    Partnerships With Fitness Centres and Corporate Wellness Initiatives

    Fitness and wellness firms have traditionally leveraged corporate partnerships as a growth strategy. However, the post-pandemic emphasis on fitness and nutrition has expanded corporate interest. This integration assists companies with benefits, health insurance programs, and employee fitness initiatives to manage workplace stress and enhance employee wellbeing. These holistic wellness initiatives provide workers with seamless integration and usher in long-term health advantages for the organisation. In addition to organizing random and tailored fitness events for intercompany participation, fitness brands also promote the adoption of fitness and weight management programs by hosting random and customized fitness initiatives.

    Enhanced Ingredient Awareness Influencing Consumer Preferences

    Ingredients are foundational to health and nutrition products and these are witnessing a surge in popularity among fitness enthusiasts. The emphasis on product orientation and specialization is one of the most important marketing techniques used by fitness brands. Most fitness brands provide health and nutrition items that are loaded with multivitamins, vital minerals, omega-3 fatty acids, and other supplements. Multivitamins, essential minerals, Omega 3 supplements, and probiotics are, thus, some of the most prominent fitness and nutritional ingredients.

    Increased product awareness among the consumers has shifted the spotlight to brands that emphasize innovative ingredients in their products. This strategy is reflected in the approach in which customers choose brands that are transparent about the relevance of product ingredients in achieving their fitness and wellness goals. Nutrition experts and fitness coaches are more likely to promote brands, whose products are based on scientifically validated and properly researched ingredients. Products capable of bridging the protein deficiency gap by restoring the adequate nutritional balance in the diet will ultimately gain more acceptance and adoption among fitness enthusiasts.

    Healthcare Business Ideas in India | Medical Business Ideas
    The Healthcare industry is growing rapidly and so are the healthcare businesses. Here’s the list of the best healthcare & medical business Ideas.
    StartupTalkyArbaz Sayed

    Brands Focusing On Garnering High Product Reviews With Satisfied Consumers

    Products that are high on reviews are expected to gain prominence as they are referred by satisfied consumers with word of mouth strategy being a strong driver across sectors. Fitness startups are introducing a diverse product line that is superior to market offerings and strives to promote health and educate customers to enable wise and healthy decisions. Multivitamins, essential minerals, Omega 3 supplements, and probiotics are among the most popular fitness and nutritional products. These innovative products utilise ‘enzyme technology’ which helps break down protein efficiently and enables the body to maximize the absorption of amino acids. This breakdown of whey protein into its smallest components avoids any digestive discomfort and caters to consumers who advertise the product among their circle of influence. Catering to consumer’s convenience, these products are also becoming travel friendly and are being made available in compact and ‘mini’ travel sachets to help consumers maintain nutritional requirements while travelling.

    Vieroots Success Story | EPLIMO | All You Need To Know
    Vieroots provide personalized lifestyle modifications post genetic test. EPLIMO is the unique product of Vieroots. Know about Vieroots founders, story, business model
    StartupTalkyJeenal Jain

    Conclusion

    Today’s constantly changing consumer preferences have been addressed by emerging technological advancements that will continue to influence the fitness industry’s growth trajectory. In conclusion, these rising opportunities to address customer needs will help startups redefine their approach with innovative growth strategies.

  • D2c Brands and New-Age Logistics Players – A Match Made on the Expressway

    The article is contributed by Nilesh Ghule, Co-founder and CEO, TruckBhejo.

    Over the last two years, primarily because of the pandemic, and deeper internet and mobile phone penetration there is an unprecedented surge in online shopping. As a result, the e-commerce market has boomed and is estimated to reach USD 200 bn by 2026, according to Inc42’s e-commerce report. It has also led to the growing popularity of the Direct to Consumer (D2C) business model.

    Alongside this boom, a Mordor Intelligence report underlines that driven by the growth of manufacturing, FMCG, retail, and e-commerce, the Indian Third-Party Logistics (3PL) market is expected to register a CAGR of over 11.5% during the forecast period of 2020-2025.

    This growing synergy between D2C brands and logistics providers is driven by the need for greater efficiency and speed with customers setting delivery deadlines that are shrinking every day, from 24 hours to 10 minutes. ‘Express Deliveries’ is the buzzword today, and with this in mind, Indian businesses, like their western counterparts, are slowly making the transition from horizontal to vertical integration.

    Bottom-line over top-line

    Earlier, the business strategy favoured the takeover of rival companies and the development of in-house facilities to expand in size and assert market dominance. Today, with the bottom line taking precedence over the top-line, and efficiency outscoring effectiveness, D2C brands are seeking third-party services to combat competition.

    D2C as a business model relies on three important aspects namely core product, online selling experience, and offline fulfilment experience. It is in the third, the last-mile delivery stage, that tech-based logistics platforms are coming into play with the guarantee of delivering products in the most time and cost-effective manner through increased digitization and automation.

    Tech-ing the shortcut

    Just like robotics and sensors have streamlined operations in the warehouse, drones and driverless EVs could well revolutionize e-commerce supply chains in the future. For now, AI-driven tools like the Internet of Things (IoT), advanced algorithms, blockchain, and data analytics can be incorporated into operations to optimize routes, circumvent delays, and reduce empty miles.

    TruckBhejo has, in just five years since its inception, shipped over 2 million tons, completing one million deliveries by leveraging technology. It even managed to satisfactorily complete a monthly order of 50,000+ products for an e-commerce major to meet increased demand during the festive season.

    Tracking deliveries

    With customers raising the bar every day, the buck doesn’t stop at speed. It demands reliability and transparency too. The customer expects personalized communication via text and email to stay connected with the product from the time it leaves the warehouse till it reaches their doorstep.

    Here again, tech-based 3PL players can provide great customer satisfaction through real-time updates that help them track the product right down the supply chain. Even if there’s a logjam, they are as much in the know as the supplier and transporter. This kind of visibility helps build brand loyalty which is imperative in a crowded market.

    List of Top 13 Logistics Startups in India
    The logistics industry in India is growing day by day. Here is a list of the top logistics startups in the country that are leading the industry.
    StartupTalkyAshwini

    Customized solutions

    The road logistics market in India is expected to reach USD 330 billion by 2025, according to the ‘Inter-city Logistics Market Study’ by RedSeer. However, to ensure a seamless run, logistics tech aggregators need to come up with customized solutions to cater to clients who come in all shapes and sizes, demanding local, pan-India, and even global reach.

    One way to do this is through smart packaging. Standardization in the size of the items and choice of packing material, with thermocol sheets and bubble wrap replacing bulky plywood or fragile glass cases, can bring down the burden of warehouse and transportation costs and scale up the volume of orders.

    Plan for the future

    The Indian logistics sector has one of the highest transportation costs at 14% Gross Domestic Product (GDP). The good news is that the government has come to its aid with the PM Gati Shakti—National Master Plan launched by PM Narendra Modi. Its aim is to break departmental silos and bring in more holistic and integrated planning and execution of projects with a view to addressing issues of multi-modal and last-mile connectivity. With better infrastructure, digitization, and pan-India mobile and internet connectivity, 3PL players can speed up their operations, helping D2C brands to thrive and grow.

    Conclusion

    While there is a steady growth in D2C business model adoption and e-commerce business, it is imperative for the companies to team up with the logistics players to ensure success and sustainable growth. A good logistics partner with tech-enabled solutions like TruckBhejo can provide unparalleled customer experience through speedy deliveries, timely status updates, and accommodating last-minute requests. Tech-led startups are adding immense value to the D2C brands by putting the technology into the use case and making various smart tools available to the customers. This “best match on the expressway” is ultimately ensuring delivery of not just the goods, but also of the customer experience and satisfaction.

  • When was the Last Time They Shipped a Great New Product? Elon Musk on Remote Working

    Business leaders everywhere are struggling to adapt to the demands of the digital age, but they all can agree on one thing: remote work has been an unqualified success. However, on Wednesday, Tesla CEO Elon Musk announced on Twitter that he would be reversing his decision to allow employees to work remotely as often as they like. He reasoned that the company’s vehicle needs are more time-sensitive than before due to their ambitious Model and production goals. Elon Musk’s end of Tesla’s remote working policy has experts everywhere wondering if this heralds the end of the remote working revolution.

    Elon Musk Tweet: "Come to office or Leave Tesla" took over the internet
    How remote work started at Tesla?
    The flip side
    What is going on with Tesla right now?
    Why did this decision come so suddenly?
    How leaders are reacting to Elon Musk’s end of remote work move?
    What should you take away from this discussion?

    Elon Musk Banned remote Work for Tesla Employees

    Elon Musk Tweet: “Come to office or Leave Tesla” took over the internet

    Elon Musk Email To Tesla Employees about stopping WFH
    Elon Musk Email To Tesla Employees about stopping WFH

    However, Musk’s remote work revolution has finally come to an end. After Musk tweeted on June 1 that he had exciting plans for Tesla, that led to a full stop on remote work. To be precise, it’s come to the office or leave Tesla.

    As reported by Electrek:

    “Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla. This is less than we ask of factory workers.”   – Elon Musk, CEO, Tesla.

    There are many ways we can improve working remotely, but there is one overriding theme: constant communication and frequent in-person interaction are critical to success.

    He said in a statement issued by Tesla on Tuesday:

    To become world-class manufacturers, we must operate as a world-class manufacturing company. The move comes after months of pressure from Wall Street investors who were frustrated with production delays at Tesla’s Fremont factory in California. – Elon Musk.

    How remote work started at Tesla?

    It all started with a simple tweet from Elon Musk.

    On May 23, 2019, Musk tweeted that Tesla employees could work remotely if they wanted to. The next day, the company announced its new Remote Work Program-and it’s been a success.

    This was an unprecedented move, and it was quite a shock to many who had worked with Tesla for years before the outbreak.

    The flip side

    Remote work is celebrated as a cornerstone of a 21st-century company’s culture. Elon Musk, however, suggests that not only is it time to end remote work — but it may have never worked in the first place. Come to office or leave, he tweeted on Tuesday. Musk believes collaboration among Tesla employees helps break down hierarchical barriers between departments and that fostering teamwork across teams would better serve his company in future exciting endeavours.

    Whether or not Musk’s statements were met with praise or scepticism from other leaders who also endorse remote work remains unclear — but one thing is certain: If Anyone has enough influence to spark change, it’s him.

    What is going on with Tesla right now?

    The electric car company—which has had no shortage of headlines lately, thanks in part to some disastrous crashes and Musk’s Twitter battle with Vern Unsworth, a British diver who helped rescue stranded boys from a Thai cave – is just one of many companies experimenting with new ways of getting work done. Although remote work is still in its infancy, according to some reports, nearly half of all U.S. workers do some form of it now.

    But Tesla is taking things further than most: In an email sent out Tuesday, Musk told employees that there would be a dedicated team at HQ for those who absolutely cannot adjust to [an] absence of chaos. He also said he would be too busy manufacturing cars and building future products to hold regular meetings in person. As Wired points out, Musk has previously expressed scepticism about working remotely; he reportedly once said that he thinks people are more productive when they can see each other face-to-face.

    Tesla’s Business Model – How Does Tesla Make Money
    Tesla works as a Direct-to-Consumer business model. Its car sales, services, and energy generation and storage make money for the company.
    StartupTalkyArchita Mahajan

    Why did this decision come so suddenly?

    It’s clear that Tesla is a unique company with its overarching mission of transforming how we drive and use energy. The electric car industry is still relatively new and unproven, which requires more hands-on attention from each executive. Additionally, Musk has said that for workers to be more productive at Tesla, they need to be present in person.

    With over ten thousand employees (and counting), it’s easier for management and workers to build relationships when they’re all working together under one roof. While remote work may have its benefits for bigger companies like Google or Walmart, having everybody together in person may ultimately lead to better results at Tesla. We’ll have to wait and see what happens!

    How leaders are reacting to Elon Musk’s end of remote work move?

    Elon Musk Email to Tesla employees to end Remote Working
    Elon Musk Email to Tesla employees to end Remote Working

    Some leaders praise him for his leadership, but others are shocked and worried about how he will accomplish such a change. Many companies struggle with motivating their employees and making them feel like they’re making a difference when they work remotely. Is it possible that Musk will be able to solve these issues as well? What do you think? Don’t forget to share your thoughts in the comment box!

    List of top Companies adopting Hybrid workplace model and why your company should adopt it too?
    Many top companies have adopted hybrid workplace model but is it Effective and Should your company adopt it too?. Lets find out
    StartupTalkyAlan Joseph

    What should you take away from this discussion?

    The latest Elon Musk tweet made a big splash when he announced that he was ending remote working at Tesla. That’s right, in what is certainly a controversial move, Musk declared that only people onsite were permitted to work on projects and develop new products. To be clear, it’s not clear how far Musk will carry his new policy. In fact, many of his employees said they expect it will be temporary or confined to high-level workers rather than rank-and-file employees and managers. Whatever happens with Tesla, managers, and employers everywhere in corporate America need to take note of what happened here.

    FAQs

    When was WFH started at Tesla?

    Elon Musk allowed Tesla Employees to work remotely in May 2019.

    What did Elon Musk tell his employees?

    Elon Musk makes it mandatory to work from the office for at least 40 hours a week.

    What does Elon Musk think about working from home?

    Elon Musk considers employees to be less productive when working remotely.

    How many hours do Tesla employees need to work from office?

    Elon Musk said Tesla employees to work for a minimum of 40 hours a week from the office.

    What is the total number of Employees at Tesla?

    Tesla has over 99000 employees.

    How many workers are there in Tesla factory?

    There are around 22000 workers in Tesla factory.

  • Hotstar Business From IPL – An Analysis of Its Huge Growth in Short Span

    How in the world does a mobile TV app make money out of televised Indian cricket? Hotstar, that’s how. Hotstar, the online streaming service owned by Star India, has become the official broadcaster of IPL matches in India. The sports content distribution giant’s leap into the IPL broadcasting business is a big step toward Hotstar’s quest to create a digital cricket viewing experience beyond anything available in the market today. To understand how Hotstar is making money out of the Indian Premier League, we shall look closely at their business model, especially their growth story in such a short period.

    Hotstar Business Model
    Reason For the Huge Success of Hotstar

    Hotstar Business Model

    Hotstar Revenue Sources
    Hotstar Revenue Sources

    The Hotstar business model revolves around three main revenue streams: ads, subscriptions, and other revenue streams.

    Advertising on Hotstar

    Hotstar generates the bulk of its revenues through advertising. The company has been improving its advertising capabilities to attract more advertisers and increase ad spending. The company recently launched Hotstar Premium, allowing advertisers to run ads during live broadcasts such as cricket matches or other sports events at specific times.

    70% of the revenue comes from advertisers wanting to advertise on a cricket platform during IPL.

    Subscription Model

    Hotstar offers two types of subscriptions – monthly or annual – both priced at Rs 199 per month (approximately $2). Hotstar competes directly with Netflix and Amazon Prime Video with this subscription model. They offer similar pricing for their services in India (although both companies have yet to launch here). This means that Hotstar needs to ensure its content offering is sufficiently attractive for consumers to choose it over competitors.

    Reason For the Huge Success of Hotstar

    Hotstar Unique Viewers Growth
    Hotstar Unique Viewers Growth

    Hotstar Viewer Engagement

    Hotstar is experimenting with viewer engagement options that let you predict the next scores and win prizes.

    Hotstar, India’s premier destination for cricket, is experimenting with viewer engagement options that let you predict the next scores and win prizes.

    The idea is simple: if you’re watching a match and want to get involved in predicting what happens next, now you can. You’ll be given a chance to predict the outcome of certain events within a match, like the next batsman to score or the next bowler to bowl. If your prediction is correct, you’ll earn points that can then be redeemed for cash prizes!

    In some cases, viewers can even select their prize: one lucky winner will get a free subscription to their favorite channel on Hotstar! It’s an exciting new way for viewers to interact with their favorite content—and we’re excited to see how it goes.

    The Rise in Mobile Internet Usage

    The rise in mobile internet usage has boosted Hotstar.

    The recent IPL season was the most-watched ever, with Hotstar’s live and catch-up viewing contributing to a total of 2.3 billion minutes consumed during the tournament. The platform also saw a whopping 300% growth in time spent on its app during the league compared to the previous year.

    More than 269 million viewers spent around 60.6 billion minutes of live IPL streaming in the first week of 2020-21 IPL edition.

    IPL is just one part of what makes up Hotstar’s programming slate; it also hosts content from other leagues like La Liga, Bundesliga and Premier League as well as live sports events like Wimbledon.

    Hotstar Subscription Services

    Hotstar Subscribers Worldwide
    Hotstar Subscribers Worldwide

    Hotstar has done a great job converting viewers to subscribers by focusing on India’s unique viewing patterns (viewers consume content on their phones).

    They have also made it pretty easy for viewers to explore the offerings of its subscription services. The site’s homepage is a huge curated list of popular shows, which is an easy way to find something new.

    Users can also browse the site by genre, which helps them narrow down their options further. The user interface (UI) is simple and clean, making it easy to navigate the website. It also loads quickly and does not overwhelm users with too many options.

    7 Ways the Indian Premium League (IPL) Franchises Makes Money
    The IPL allows the best cricket players around the world to exhibit their talent. Here’s learning how the IPL franchises make money out of the popular league!
    StartupTalkyPV Vyshnavi

    Hotstar – IPL Global Audience

    IPL has a global audience, so the stakes are high here.

    Hotstar, owned by the same parent company as IPL, had to work hard to keep up with demand during this cricket season. But they did it! As a result, Hotstar saw an 82% increase in signups over the 2020-2021 IPL season. They also saw an average of 40 million viewers per match (a 63% increase over the 2020-2021 IPL edition).

    It’s not surprising that Hotstar was able to handle the increased traffic—they’ve been working on their infrastructure since 2016 when they launched their streaming app and platform. Since then, they’ve focused on building out their capabilities and improving their delivery mechanism to ensure that they can continue to deliver high-quality content at scale.

    Recently Hotstar expand its reach into new territories such as Sri Lanka and Afghanistan—it now offers 12 languages across 159 countries!

    Hotstar Advertising on Traditional Media

    Traditional media has also started using Hotstar advertising media like Print, Outdoor, and Radio.

    Hotstar has generated better returns for advertisers than traditional media by providing them with a platform that can be tracked with precision. The focus is on building brands rather than just promoting products.

    This move was widely criticized by traditional media outlets, who felt that they were losing out on revenue due to the switch to digital platforms. However, this move has proven to be very beneficial for Hotstar: they have seen an increase in their user base by over 30% since they won the IPL streaming rights. They are also now able to provide advertisers with a more diverse range of options when it comes to advertising on their platform.

    Why Netflix Shares Dropped? | Where Netflix Went Wrong?
    The biggest streaming platform, Netflix lost 200k subscribers and 37% of their shares dropped in a day. Find out the reasons and where Netflix went wrong?
    StartupTalkyDamini Bhandary

    Hotstar Personalized Ads

    Hotstar is also experimenting with personalized ads.

    Hotstar has a lot of things going for it. It’s the only place to watch IPL matches in India, and their new personalized ads are a big hit with fans.

    The company is also experimenting with personalized ads while IPL streaming to see if they can get people to buy products they see on TV during matches.

    Hotstar is looking at making the most of its fan base by offering them more than just cricket. They want to make it easy for fans to watch what they want to catch up on the latest shows and movies.

    Conclusion

    Trillion-dollar opportunity lies in cricket in India, and Hotstar is a frontrunner when it comes to grabbing these opportunities.

    A cricket-crazy country like India has a massive market for cricket-related content. Hotstar, who has partnered with one of the best teams in the world ( Indian Cricket Team) and IPL (Indian Premier League), is enjoying this benefit. A smart combination of live streaming, cricket highlights, post-game match commentaries, star interviews, and an online cricket merchandise shop has propelled it to be the most downloaded app from the play store in India.

    FAQs

    How much did Hotstar earn from IPL 2022?

    Hotstar is speculated to have generated ad revenue of around $128 Million from IPL 2022.

    What is the revenue of Hotstar?

    The Revenue of Hotstar was recorded at $215 in December 2021.

    How much Hotstar subscribers increased during IPL?

    Disney+Hotstar paid subscribers crossed over 50 Million during IPL.

    How much Hotstar paid for IPL broadcasting rights?

    BCCI has given IPL Media rights to Hotstar for $4234 million.

  • Landing Page Conversion Optimization | Top 7 Factors That Affect Conversion on Landing Page

    A landing page is the first page a customer lands on after they click on your ad. It is often overlooked by marketers, but in reality, it can make or break your business. With the recent changes in Google’s algorithm, it is imperative to have a plan to ensure that conversions are increased.

    Online businesses can be made profitable only when the marketers and business owners have information about the activities of the visitors visiting their website. This includes sending responses via forms, subscriptions, and purchasing products through the site. So, when a person visits your website and completes a desired action that makes for the conversion rate. Your website might be getting a lot of traffic but it is of no use if it is not converting. Thus, there are various different factors responsible for increasing or decreasing the conversion rate. In this article, we will learn about different factors that affect the conversion on the landing page.

    First, let us understand what Conversion rate means.

    What is the Conversion Rate?
    Factors Affecting Conversion on the Landing Page

    What is the Conversion Rate?

    When users visit a website, they either complete the action or not. The conversion rate is the percentage of users who complete the desired action on a website. The rate is calculated by dividing the total number of converting users by the total number of users who visited the website. It is then converted into a percentage.

    For instance, if there are 150 visitors on the landing page out of which only 10 visitors took action, then the ratio will be 10 divided by 150, or approximately 7%.

    Factors Affecting Conversion on the Landing Page

    You may get a lot of traffic on your marketing landing pages, but not many visitors get converted into leads. It can be difficult for a marketer to determine the cause of poor conversion rates. The conversion rate is one of the most important metrics of a successful website. It directly corresponds to the company’s revenue growth. Conversion rates can be optimized in different ways and with different intentions. A good landing page influences consumers to take the desired action. Here are 7 factors by which you can increase your conversion rates:

    Source of Traffic

    Highest Average Conversion Rate by Traffic Source
    Highest Average Conversion Rate by Traffic Source

    The source of traffic has a significant impact on the overall conversion rate. The chances of conversion are higher when a visitor is already interested in your products or services. Warm traffic sources, like those from emails and referrals, have a much higher conversion rate than cold traffic sources, like social media and paid advertisements. Wasting your marketing budget on irrelevant traffic will only result in a higher bounce rate.

    The conversion rate of referrals and email traffic are 5.4% and 5.2% respectively, while the Adwords traffic conversion rate is 1.4%. You may review your pay-per-click campaigns to drive more traffic to your website but, more importantly, it is the source and relevance of the traffic that will improve the conversion rate of your webpage.

    Page Load Time

    Conversion rate optimization is equivalent to consumer experience optimization. If a webpage takes too long to load, the user tends to leave and go to other websites. Studies have shown that conversion rates are directly related to page loading speed. You can vouch for it as well, being a consumer yourself elsewhere.

    The page loading time depends on several factors including user behavior, website host, page type, plugins, and efficient code. Unfortunately, most mobile webpages take longer to load as compared to their desktop counterparts. Google considers page loading time as the search engine ranking factor which means that the loading speed impacts both SEO and conversion rates. A webpage should ideally load within 2 seconds. Thus, this is another important factor that affects conversion on your landing page.

    Landing Page Builders with Features, Pricing, and Comparison of Best Five
    Landing page builders with the best five creators, their features, comparison, and pricing plans for marketing, sales, conversion rate, and page deployment
    StartupTalkyAnsh Mehrey

    Call to Action

    Another factor affecting conversion on a landing page is CTA. A call to action (CTA) is a prompt on the website to encourage the user to take the desired action. A large amount of information available on the internet prevents visitors from going through the entire content of a webpage. Most visitors only pay attention to the key elements of a webpage. This is why it is important to understand the psychology behind an effective CTA when competing for people’s attention. A CTA can include text, image, button, video, or animation.

    Make sure that the CTA is user-friendly, creates a sense of urgency, and doesn’t come off as pushy or aggressive, which can offend the visitors. You must understand your target audience as factors like age, gender, location, and status largely affect the choice of CTA. Lastly, it should go well with the rest of the website to make it aesthetically pleasing.

    Social Proof

    Social proof is a concept based on social influence, stating that people follow the actions of others in an attempt to get liked or accepted among their peers. When someone is thinking of making a purchase or deciding between two brands, they would often turn to look at other people for their experience with the product. User testimonials, celebrity endorsements, social media stories, and case studies are all examples of social proof.

    When a consumer visits the landing page, social proof is often the deciding factor in whether or not they will take the desired action. Social proof is a powerful marketing tool and can help you boost your conversion rates. It is similar to the bandwagon effect, which is a psychological phenomenon where one does something primarily because others are doing it.

    Website Design

    The design of a webpage is an important factor that affects the conversions on a landing page. Most visitors decide if they want to stay or leave a website in a matter of seconds. The psychology of color is often an underrated concept in marketing but it plays an important role in conversion, as different colors have different effects on consumers. It can distinguish your product from competitors, convey the meaning of a brand, and can set the overall mood of a website. Also, picking the right color scheme creates a sense of aesthetic balance and cohesiveness on your website. Also, consider the device your audience will be using while designing your web page.

    Conversion rates on desktops are higher than those on mobile devices as many websites are easier to use on desktops. Another aspect is to use infographics to your advantage. Images can bring life to your webpage, build trust, and even help you go viral. Use high-quality images with alternate detailed views and an option to zoom in. Ensure continuity in the design, avoid using distracting backgrounds and using too many banners or animations that can take away the consumer’s attention.

    Unbounce Landing Page Example
    Unbounce Landing Page Example

    Good Content

    Providing good content on your webpage is one of the most important factors that affect conversions on a landing page. Writing a great copy for your website resonates with the readers, entertains them, and thus, helps increase the conversion rates. Like any other marketing strategy, writing content begins with identifying the target audience. Once you know your target audience, it becomes easy to figure out what they want. Analyze the sales funnel stages to find the most suitable topics that empathize with your customers.

    For example, if you sell fashion products, you can share how-to’s, give fashion hacks, and publish interviews with influencers. The idea is to give out valuable information that the visitors would want to know. This shows your willingness to build connections and trust with your potential customers.

    Top 15 Amazing Copywriting Tips to Boost Conversion Rates
    Want to boost your conversion rate? Check out these tips that will increase your conversion rate and will make you stand out among your competitors.
    StartupTalkyShikha Tyagi

    Trust

    No matter how well you implement a strategy to optimize conversion rates, it will not be effective unless your brand can be trusted. Nothing breaches a consumer’s trust more than doubt and ambiguity. So, to build a trustworthy brand, you need to be honest and credible. While creating a website, including an ‘about us’ section where you tell your brand’s story and its values. Introducing the visitors to your team that has helped shape your business is a good way to develop trust among them.

    People rely heavily on the brand’s previous track record to trust your brand. Therefore, you must dedicate a section of your website to client reviews and testimonials to help build your brand’s reputation.

    Conclusion

    Overall, the most important factor that affects conversion on the landing page would be the landing page itself. If your landing page is not interesting, easy to navigate, and offers user-friendly options then your conversion rate will also be low. Conversion rate optimization is a continuous process and requires a lot of experimenting along the way. It plays a very important role in promoting and growing a brand. So, to get a higher conversion rate on a landing page, you should take the above-stated factors like good content, website design, source of traffic, and more into consideration and you will begin to see improvements.

    FAQs

    What is a landing page conversion rate?

    Landing page conversion rate refers to the number of people who completed the desired action out of all the people who landed on your page.

    What does high converting mean?

    It means that people are interested in whatever you are offering and they are also able to get it easily. This shows that the visitors are completing the desired actions leading to a high conversion rate.

    How can I increase my landing page conversion rate?

    You can increase your landing page conversion rate by the following:

    • Focus on CTA (Call to Action)
    • Create a visually appealing landing page
    • Offer good content
    • Improve your page load speed
    • Optimize your page for mobile
    • Provide social proof

  • Why Is CBNITS One of the Best Software Services Companies in Kolkata?

    These days, technology and, more specifically, software development is crucial to the development of new ideas and the advancement of businesses and startups. The city of Kolkata, which is said to be the IT capital of Eastern India, is allowing for an unconstrained path regarding technological advancements. It can be challenging to choose the best software service provider from the many that have a base office in Kolkata.

    But not to worry because CBNITS, a leading provider of enterprise solutions and IT services, is the best of the best. On July 4, 2018, CBNITS India Private Limited, a private corporation, was established in Kolkata, West Bengal and is an organisation that strives to help a company transform and reach above and beyond with their digital solutions.

    But why is it the best software service company, you might ask. Numerous elements make them outstanding, such as their cutting-edge technologies that enables businesses to meet the obstacles at every stage of growth. But that’s not all; let’s dig a little further and discover why CBNITS is among the top providers of software services in Kolkata.

    What makes CBNITS unique?
    What Domains does CBNITS Specialise in?

    What makes CBNITS unique?

    Easy Solutions for Early-Stage Companies

    CBNITS claims to assist you in bolstering your IT foundation and realising new opportunities that enable quicker growth with its team of over 300 skilled cybersecurity experts, cloud engineers, expert-level software engineers, UX/UI designers, and data scientists.

    Back Startups up with excellent Software Support

    CBNITS is designed to provide you with the greatest ERP Solutions, support you as you move your project ahead, and help you thrive. This includes the initial idea to execution, ongoing support, and managing business growth.

    Overcoming The Skills Gap

    Is your company not particularly technically inclined? No issue! Because CBNITS knows where to put the right people for the right project with amazing skills and talent tailored to your needs.

    Cutting-Edge Technologies

    The engineers at CBNITS are skilled and experienced in advanced techs like Big Data & Hadoop, Cybersecurity, Blockchain, Data Science, AI & Machine Learning, IoT & Connected Devices, Software Development, SAP, DevOps & Infrastructure, Mobile & Wearables, UX/UI and Cloud Solutions which can help you and your firm touch the skies.

    What Domains does CBNITS Specialise in?

    CBNITS Logo
    CBNITS Logo

    Healthcare

    Health professionals and patients looking for help frequently use Teamwellness as a platform. The software simplifies the medical facility by connecting patients and practitioners for an online consultation. From start to finish, the patients and practitioners can do everything whilst sitting at home.

    The entire platform has been built by the company’s designing team using CSS and HTML and is available on iOS and Android. The technology used to make this platform includes Read Native, AWS, MySQL, CSS, Bootstrap, React, Node and HTML.

    The app allows the patients to select a medical speciality, view the doctors’ profiles and portfolios, view availability on calendar requests and make an appointment, schedule an appointment, view booking status, acquire confirmation and review and make payments.

    The app allows the practitioners to add medical experience and education, send meeting URLs, receive payments, and much more.

    Healthcare Business Ideas in India | Medical Business Ideas
    The Healthcare industry is growing rapidly and so are the healthcare businesses. Here’s the list of the best healthcare & medical business Ideas.
    StartupTalkyArbaz Sayed

    Cyber Security

    Businesses can securely communicate confidential papers with anyone within or outside the firm, thanks to the SaaS application from i2Chain. In accordance with GDPR and CCPA privacy rules, i2Chain enables banks, hospitals, accounting firms, mortgage companies, and others to securely transfer their IP, PHI, and PII with co-processing businesses. The zero-click technology from i2Chain protects documents with encryption, rules, and immutable audit logs. It is also independent of the type of cloud and storage used.

    This platform was built using Electron, Node, Cryptography, AWS Cognito, React, and Blockchain technologies.

    EdTech

    Both parents and students can utilise the site, which is adaptable for all platforms and gives them access to their courses and assignments. Additionally, there is a forum section where users can talk with other students and teachers about their assignments and classes.

    The dashboards allow parents to see their child’s progress.

    The platform has a number of secure payment gateways, including Stripe, credit card, PayPal, and others, to make it simple for students to pay and for instructors to receive payment.

    This platform was built using Node, AWS, React, CSS and HTML technologies.

    HR Tech

    To assist professionals, this platform uses machine learning and artificial intelligence by identifying their formula for professional growth and success. The behavioural skill level and in-depth analytical report of all users within the company are provided by the artificial intelligence and machine learning analytics, along with 16 free personality factor assessments, to help users identify their potential, suitability, and areas that need improvement.

    The platform is easy to use, responsive on all platforms and highly secure and was built using Tiger Graph, Javascript, React Native, CSS, Java Spring, AWS RDS and HTML technologies.

    E-Commerce

    The platform was created by the engineers at CBNITS to enable the delivery of everyday things and household goods to your home. You can select from three possible user options, namely, admin panel, buyers, and sellers. The Seller must sign up and list all relevant information about their products on the platform. Customers can browse products, add them to carts, and check out. Customers who have purchased things have the option of leaving reviews. The admin will be in charge of maintaining the platform’s overall functionality.

    The technologies used to create this platform include Node, Bootstrap, AWS, MySQL, React, CSS, and HTML.

    Conclusion

    Now you know why CBNITS is one of the best software services companies in Kolkata. With over seven years of experience and 1000 projects in over 20 countries, CBNITS has everything you might need to grow your business.

    FAQs

    Who is the founder of CBNITS?

    Rajdeep Bose & Naveen Chand Bachkethi are the founders of CBNITS.

    When was CBNITS founded?

    CBNITS was founded in 2018.

    What Domains does CBNITS Specialise in?

    Major domains for which CBNITS provides software solutions are:

    • Healthcare
    • Security
    • EdTech
    • HR Tech
    • E-Commerce

    How many employees does CBNITS have?

    CBNITS has 200-500 employees.

    What is the revenue of CBNITS?

    The operating revenue of CBNITS ranges from INR 1 Crore – 100 Crore annually.

  • Future of Electric Two-Wheeler Industry in India – Will It Sustain?

    As we all know, two-wheelers constitute a considerable part of the Indian motor vehicle ecosystem and are an integral mode of transportation in some regions. Though two-wheelers have been around since the early 20th century, it is only a decade old that they have started to make their way into the daily lives of millions of Indians.

    The number and types of two-wheelers available in India have expanded to include scooters, motorcycles, mopeds, and motorcycles that are mostly fuel-driven. On the other hand, there is a relatively small but fast-growing segment of electric two-wheelers, also known as e-two-wheelers.

    These are gaining popularity and have been making headlines due to the apparent benefits they bring with them. But how long will these e-two-wheeler companies sustain? Well, this must be a question that every potential buyer has in his mind when he or she decides to buy one.

    In the recent past, though, India has made it clear that they want nothing less than 7 million EVs on their roads by 2030. This seems like a tall order, and India will have to exert a lot of effort towards making it possible. Let’s check out what Indian Electric Two-Wheeler Industry looks like and is it able to survive;

    Pioneer of Electric Two-Wheeler in India
    Support by the Government
    Growth of Electric Two-Wheeler Companies in India
    What Is Propelling the Growth of Electric Two-Wheelers?
    What Is Restricting the Growth of the Electric Two-Wheelers?
    The Hype Surrounding the Two-Wheeler Industry
    Future Trends of the Two-Wheeler Industry
    Steps That Should Be Taken to Sustain the Growth of the Two-Wheeler Industry

    Pioneer of Electric Two Wheeler in India

    The electric two-wheeler industry has been growing steadily over the last few years, but it still remains a niche market. The first electric scooter was introduced in 2013 by a startup called Ather Energy, and since then, there has been no looking back.

    The company sold 1,000 units of its Thunderbird in 2016 and manufactured over 3,000 units of this model in 2017. The company also plans to launch an electric motorcycle in the next couple of years and plans to sell around 100,000 units of this model. This is just one of many brands that have begun manufacturing electric two-wheelers in India.

    The electric two-wheeler industry is at its nascent stage in India. The Government has recently announced a plan to make all vehicles driven by electricity by 2030.

    Support by the Government

    The electric two-wheeler industry has been the center of attention for quite some time. The main reason for this is the rising pollution and the need to reduce it. The move toward electric vehicles is a step in the right direction. However, many factors need to be taken into account before making a decision on which vehicle to buy.

    It has been announced that the Indian Government will invest $60 billion in electric vehicle production by 2025 as part of their “Make in India” campaign. This is expected to boost sales by 50% over the next five years.

    The number of electric two-wheelers sold per month has steadily increased since 2013, when they first hit the market, with only 1,000 units being sold that year. Still, this figure has now climbed to over 20,000 units per month, according to recent reports published by SIAM (Society of Indian Automobile Manufacturers).

    The Indian Government aggressively pushes the electric vehicle (EV) agenda to reduce pollution and boost green energy. It plans to achieve the target of 100% electric mobility by 2030. The Government has also announced several incentives, such as reduced GST and better infrastructure for EVs, among others.

    The industry is still at its nascent stage in India, and the demand for electric two-wheelers is mainly driven by e-commerce companies like Flipkart, Amazon, etc. However, growth in demand for electric vehicles has been slow due to poor infrastructure, lack of awareness, high cost, and customer preference toward conventional bikes over electric bikes.

    Growth of Electric Two-Wheeler Companies in India

    Electric two-wheelers are gaining momentum in the Indian market. Several companies have entered the electric two-wheeler segment in the last two years. These include Hero Electric, Ather Energy, Zoomcar, Ola Electric and TVS Motor Company.

    Some of these companies have already launched their products, and some others are about to launch them soon. This has led to increased competition in the industry which will benefit customers in terms of better products at lower prices. However, there are still some challenges that these companies need to overcome before they become profitable entities.

    What Is Propelling the Growth of Electric Two-Wheelers?

    Electric two-wheelers are a relatively new concept in India. The idea is not new, though, with countries like China have been using electric scooters and bikes for a few years now. Indian cities have been witnessing a surge in the number of people opting for public transport due to traffic congestion and pollution levels, which has led to the increased usage of electric vehicles.

    The need for an alternative method of transportation has gained more importance than ever before. The number of people opting for electric two-wheelers as their primary mode of commute has grown manifold over the past few months, especially after the Delhi government announced its plan to buy 10,000 battery-operated bikes from BSF to be used by its security personnel.

    The major factors driving this growth are:

    • Increase in disposable income
    • Government support and subsidies
    • Increasing awareness about pollution and climate change.
    Sales of Electric Two-Wheeler in India by Brands
    Sales of Electric Two-Wheelers in India by Brands

    How Zomato is planning to make 100% Food deliveries on Electric Vehicles by 2030
    Zomato one of the largest food delivery startup is planning to make its Food delivery services completely electric by 2030.
    StartupTalkyAlan Joseph

    What Is Restricting the Growth of the Electric Two-Wheelers?

    Electric two-wheelers are gaining popularity in India. The electric two-wheeler industry is anticipated to grow at a healthy pace in India and is expected to become a USD 3 billion market by 2025. However, some factors are restricting the growth of the industry in India:

    High Manufacturing Cost

    The manufacturing cost of an electric two-wheeler is high compared to conventional bikes due to the use of expensive lithium-ion batteries and other electronic components. The cost of manufacturing an electric scooter or bike is around USD 1,600 while manufacturing a conventional motorbike is around USD 500-600.

    Experts believe that if the cost of raw materials used in making electric bikes comes down, then it can help reduce the overall manufacturing cost significantly.

    Limited Availability of Charging Infrastructure

    There is limited availability of charging stations for electric two-wheelers in India which will restrict their growth in the next few years unless considerable investments are made by manufacturers and government bodies to build charging infrastructure across cities and towns across India.

    There were only about 1,000 charging points across India as of December 2018, which means that there is only one charging point per every 100 km, making it difficult for users to charge their batteries while commuting between cities or towns.

    Low Battery Life

    Another challenge facing this industry is that its batteries do not last long enough before they need charging again; often, they only last 10 kilometres or less before needing recharging again.

    The Hype Surrounding the Two-Wheeler Industry

    The hype surrounding the industry is more than just a marketing gimmick. The Government has been actively promoting the use of electric vehicles in India. The Government believes that if many commuters adopt these vehicles, it will help reduce pollution. It also hopes that this will lead to economic benefits by reducing fuel imports and improving job creation.

    The Government has set up several incentives for such purchases to encourage people to make this switch. For example, buyers get an additional income tax deduction under Section 80EE of the Income Tax Act.

    This gives them a deduction of Rs 1 lakh on an electric car and Rs 50,000 on an electric scooter or motorcycle. Thus, if you bought a new two-wheeler that costs over Rs 2 lakhs after March 31st, 2022, you can claim as much as Rs 50,000 as a deduction from your taxable income for each vehicle purchased during the financial year 2021-2022; this is double what you could claim in FY2020-2021.

    Future Trends of the Two-Wheeler Industry

    The electric two-wheeler industry is growing at a fast pace. Many companies are trying to come up with new products and services. The future trend of the electric two-wheeler industry is that it will continue to grow and become more popular in the future.

    The following are some of the promising trends that can be expected in the next few years:

    Increase in the Number of Electric Bikes

    The number of electric bikes and scooters will increase in the coming years as more people are interested in them because they want to save money on fuel, reduce pollution, and many other reasons.

    More People Will Use Electric Scooters or Bikes for Commuting Purposes

    Commuting is one of the major drivers of why people are using electric scooters instead of cars or public transportation. They do not have to worry about intense traffic jams or finding parking spaces when they commute using an electric bike.

    Increasing R&D Investments

    The major players across the globe are investing millions of dollars in R&D activities to develop new technologies and improve existing ones. For instance, Shimano Inc., a Japan-based company, has focused on developing new products such as electronic shifting systems, road bikes, and mountain bikes since 1984. It also acquired Cannondale Bicycle Corporation in 1988, which provided it with an opportunity to strengthen its position as a leading player within the biking industry.

    Steps That Should Be Taken to Sustain the Growth of the Two-Wheeler Industry

    The Indian two-wheeler industry has been expanding at a healthy rate of around 20% year over year. This growth has been supported by increasing urbanization and increasing disposable income. A rising preference for automobile ownership is also driving the demand for two-wheelers. However, this growth may not be sustained in the long run if we do not take certain steps immediately.

    The first step would be to improve the infrastructure of roads, highways, and other modes of transportation in India. As a result, this will significantly improve the movement of goods and people across cities and states, thereby creating job opportunities for millions of people.

    The second step would be to create an environment conducive to innovation and research & development. This will ensure that new technologies are developed to help reduce pollution levels in our cities and towns.

    Thirdly, we need to encourage the use of electric vehicles (EVs) as they can play an important role in reducing pollution levels in our cities and towns, as well as bring down costs associated with transportation systems due to reduced maintenance costs on EVs compared with conventional internal combustion engine vehicles (ICEVs).

    How To Start EV Charging Stations Business In India – StartupTalky
    EVs can also reduce emissions that contribute to climate change and smog, improving public health and reducing ecological damage. Charging station units specifics.
    StartupTalkySouvik Dey

    Conclusion

    India needs to focus its attention on developing a strong manufacturing base for electric two-wheelers. If we develop that, then the market will indeed thrive…

    The electric two-wheeler industry has a realistic chance for growth in India. The Government needs to foster the market through reduced taxes and incentives for manufacturers and suppliers of electric two-wheelers. This will allow more competition among manufacturers and easier access to parts by consumers. The Government should also focus on minimizing the cost of creating infrastructure that can support electric two-wheeled vehicles (i.e., charging stations, electricity reinforcement, etc.), as it will significantly impact the demand for such vehicles.

    The market will quickly pick up, with the launch of new manufacturing facilities accelerating the transition from fossil fuels. One day, soon, we will see the day when switching to an e-bike or a car powered by electricity will be an easy choice for people in India and around the world.

    FAQs

    How many electric two-wheelers are there in India?

    In 2021 there were nearly 1.4 lakh two-wheeler units were sold in India.

    Which is the best electric two-wheeler in India?

    Ola S1, Bajaj Chetak, TVS iQube, and Okinawa iPraise are some of the leading electric two-wheeler brands in India.

    Which is the largest selling electric scooter in India?

    Hero Electric is the largest selling scooter brand in India.

  • How E-commerce Companies Can Make Their Logistics More Efficient?

    This article is attributed to Prodipto Roy, Co-Founder, Quickshift.

    With technology evolving faster than ever in modern times, e-commerce is no different, changing invasively, striving to provide lightning-fast delivery and providing enhanced services to its clients. The market that was less than $1 trillion in 2011, grew to about $ 9.00 trillion in 2021, a volume of 22% being online purchases from the total retail sales, and expected to be over 50% by 2031. E-commerce has seen a growth trajectory of 13-17% during the pandemic and is sure to stay with continuing shopping trends.

    While Tech forms the platform for E-commerce, the foundation is largely based on efficient logistics. E-commerce companies are integrating effective strategies into their supply chains that can help them make promises that improve sales and create customer excitement. It helps in mitigating shipping delays and inefficiencies in order to provide better service, increased margins and customer satisfaction.

    What makes e-commerce logistics efficient?

    Technological advancements are required from order fulfilment to demand. The call of the hour is to have decentralised distribution and fulfilment centres, to meet growing order volumes, customer expectations and complexities in deliveries.

    Here are a few supply chain strategies for eCommerce companies:

    Implement information systems: By introducing warehouse management systems (WMS) companies can manage most of the activities that take place in a fulfilment warehouse. Products that traditionally sell out more rapidly can be stored in easily accessible warehouse locations, and employees can adapt to unexpected demand for certain models.

    Decide on the right third-party logistics and internal fulfilment: An easy way to cost reduction is outsourcing fulfilment costs to third-party logistics (3PL) provider. This eliminates huge infrastructure costs, workload and manpower management, and ongoing maintenance costs among others. Third-party providers will procure warehouse space, restock shipping supplies such as labels, cartons, and pallets, and handle overhead costs.

    Warehouse strategy: Warehouse costs are about 15-20% per order and an extensive study should be conducted to increase efficiency. Certain orders need specialized storage, like cold storage or climate control, approaching logistics from a warehouse strategy could provide better efficiency. Warehousing costs can be reduced by renting out local spaces.

    Voice-enabling Systems: This system uses voice direction for scans and key entry, which reduces the time employees spend reading devices, manipulating barcodes, and re-keying in data. Although this strategy incurs up-front costs, but voice-enabling can save 1 to 3 seconds per pick.

    Effective Training Programmes: It is not always possible for companies to invest in warehouse management systems. In such cases, companies can still reap benefits from effective manual labour training programmes, to help employees work safely and rapidly, by introducing simple technology that can make it easier to pick and pack. These small upgrades can lower costs per line, unit, and order.

    Using barcode and RFID: Companies can easily track goods in transit and collect data using barcode and RFID systems. Also, the pick and pack, return cycle, tagging and other processes can be handled more efficiently.

    Optimal use of warehouses: By using the existing warehouse facility to its full capacity, companies can increase worker productivity, and reduce inventory errors. Ways of doing so are utilizing every square inch of the capacity available, forming separate sections for goods coming in and going out, forming cross-sections, shortening aisle width, and stacking up vertically. This also reduces the pickup and processing time.

    Reduce delivery times: By shifting operations to decentralized locations, the companies can reduce delays caused due to geographic locations. This helps shipping faster and closer to the target market.

    Efficient supply chain vendors: Collaborate with vendors that have high standards of customer service, timely delivery, packaging and communication systems. This will ensure timely delivery and increase customer satisfaction.

    Quick transportation system: Inventory needs to move fast to give a good turnout. Having a transportation management system can tackle all the known complexities of routing deliveries. This type of software can figure out the best route and ensure that all stops are accounted for. This technology is also known for cutting costs.

    Story of Quickshift (QS): Ecommerce fulfillment solutions
    Quickshift (QS) offers a complete suite of fulfillment services for any D2C brand. Know the story of Quickshift, its business model, growth & more
    StartupTalkyJeenal Jain

    What do efficient logistics systems look like?

    An efficient logistics process in a business offers unmistakable advantages. It streamlines operations, minimizes downtime, gets products from place to place quickly and adds tremendous overall value.

    Below are some main benefits of efficient logistics:

    Reduced costs: businesses are efficient because they trim wastage, overheads and extras in the process. More efficient transport routes offer reduced time and fuel costs, and efficient warehousing strategies allow you to fit more inventory into space and reduce your storage costs.

    Increased customer satisfaction: Increased logistics efficiency comes with improved fulfilment. customers who receive orders as promised are more likely to be pleased with the services and there is a higher retention rate. This helps you build a loyal customer base.

    Strong relation with suppliers: While onboarding, the suppliers are always keen to know whether you have the necessary infrastructure and systems necessary for their business and can deliver their products as promised or not. By exhibiting your command of logistics efficiency, you make yourself an appealing partner for suppliers and ensure a steady supply of quality products for your clients.

    Better industry reputation: Strong logistics efficiency manifests your overall reputation in your industry. E-commerce companies gain confidence with clients, become more attractive business partners and attract more qualified and capable employees.

    How does Amazon Manage its Supply Chain and Logistics? | Supply chain management of Amazon
    Amazon is one of the top ecommerce store which is known for its complex yet efficient supply chain. Lets understand in detail the supply chain management of Amazon.
    StartupTalkyArijit Karan

    Conclusion

    Logistics and e-commerce are two sides of the same coin and are inevitable to create a seamless and smooth shopping experience. The nexus with 3PL comes highly recommended for e-commerce businesses with complex supply chains. They have automation technology that helps you have a better outlook and take informative well-planned decisions, ensuring growth and higher productivity. Working with a 3PL saves complex engagements such as training, recruitment and development. Logistics are inevitable to any business.

  • What is Neobank and How it is Simplifying Banking? The 5 Best Neobanks of India

    The world we live in is called digital for a reason, from Artificial Intelligence to social media; everything is possible because of Technological Advancement. These technologies have created such a way that there is hardly anyone who is not connected to them.

    With new technologies getting invented every day, digital means of payment have become the new normal in this decade. Now, banking is a very significant part of our life. Thanks to banking we are enabled to have our money saved in a bank account and it provides safety to that amount. Plus we get our salary credited there. Not only that, banks also lent money to individuals and businesses.

    A couple of years ago, using a virtual bank seemed like a scene from a sci-fi movie but now, it’s a reality. The definition of payment has changed; with the help of technology transferring money from one account to another is possible through the internet itself. Thus, the way of banking has also changed; we can get the facility of a bank without a requirement of one. In India, Fintech platforms are now setting their eyes on a certain industry and that is called the Neobanks.

    “Banking is Necessary, Banks are Not.”

    ― Bill Gates

    In this article we will find out about the Neobank industry in India and its future, So let’s dive in.

    What Is Neobank?
    Advantages Of Neobanking
    Top 5 Neobanks In India
    Future Of Neobank Industry In India
    FAQ

    What Is Neobank?

    Neobank is a bank that is digital and doesn’t have any branches physically. It is completely online and they entirely focus on providing every facility of a bank like money transfers, financial solutions, and money lending through mobile phones.

    In India, Neobanks doesn’t own bank licenses and hence rely on bank partners for providing banking services to its customers.  

    With the increase in the process of online banking and the acceptance of digital payments, Neobank is becoming a new trend in the country. These new-age banks provide good customer service and are very much customer-centric. Neobanks strive to offer a personalized banking experience to their customers based on analysis of customer data and behavior.

    Being fully digital, Neobanks saves the costs of maintaining physical branches which lets them invest more in enhancing customer experience, and helps them maintain better margins.

    Not just retail customers, Neobanks also has a lot on offer for small and medium businesses. From payment gateways to billing software, Neo Banks helps businesses manage their finances better.

    Advantages Of Neobanking

    People prefer Neobanking for various reasons. Some significant advantages of neo bank are –

    • Creating an account in neobank is much easier than creating a physical bank account. Just following some simple steps one can create their account from anywhere and anytime through their mobile.
    • International payments are possible through neobank card, while a traditional bank debit card doesn’t provide that service initially, we have to request an international debit card for global transactions.
    • Neobanks are user-friendly and are designed to fulfill the demands of the customers. Neobank apps are very easy to use for customers
    • Every transaction made through Neobanks is updated immediately on the app.

    Cred Success Story | Pay Your Credit Card Bills And Win Exciting Awards
    Cred is a platform where the consumers receive awards every time the bill is paid through Cred. The founder of the company is Kunal Shah and it was founded in 2018. Know more about the business, revenue, funding, etc.
    StartupTalkyAnik Banerjee

    Top 5 Neobanks In India

    Covid-19 played a huge role in intensifying the digital banking methods amongst the customers. As per Statista, the number of users in the Indian Neobanking segment is expected to grow to 17.11 million by 2026. The increasing popularity has caused an increased number of neobanks in the country.  Currently, there are around 27 neobanks in India. We have listed below the top 5 Neobanks of India.

    InstantPay
    FamPay
    Jupiter
    Open
    Razorpay

    InstantPay

    Instantpay website
    Instantpay website

    It is considered one of the largest neo banking platforms. From small to big businesses and individuals enjoy Instantpay’s neobank service.  Founded by Shailendra Agarwal, this neobank process millions of transaction per day. It is easy to use and can be operated from mobile and the web. Instantpay’s partners are ICICI Bank, Axis Bank, IndusInd Bank, and Yes Bank.

    FamPay

    FamPay Website
    FamPay Website

    This neo banking app is specially made for teenagers. Of course, supervision from their guardians is to be done. Their main aim is to make teenagers empowered and independent by encouraging them to make decisions regarding their spending. Fampay offers a numberless prepaid card that lets teenagers and minors make payments both online and offline.

    This app is founded by Kush Taneja and Sambhav Jain in the year 2019 and is used for basic payment for Zomato, Netflix, Swiggy Amazon, and many more. Its banking partner is IDFC Bank.

    Jupiter

    Jupiter Website
    Jupiter Website

    This neobank service was founded in the year 2019 by Jitendra Gupta and Vishnu Jerome. This neobank provides the customer with an option to monitor their money spending pattern and doesn’t have any hidden fees. It does have a calculator that lets the customers watch on their financial health. Plus it gives out lots of rewards as well. Jupiter’s banking partner is Federal Bank.

    Open

    Open Website
    Open Website

    This neobank helps businesses say goodbye to all those hassles while opening a bank account. This was founded by Ajeesh Axhuthan, Anish Achuthan, Deena Jacon, and Mabel Chacko in the year 2017. Open helps startups and businesses with banking, payments, and accounting. It also gives out a business credit card.

    Razorpay

    Razorpay Website
    Razorpay Website

    Razorpay is the first neobank to enter the club of Unicorn. Razorpay is designed for businesses. It was founded in 2014 by Harshil Mathur and Shashank Kumar and has served over 10 thousand businesses.  

    Razorpay’s product suite makes accepting, processing, and disbursing payments easy for businesses. Razorpay offers RazorpayX, a service through which registered businesses can not only easily open current accounts, but can also automate bank transfers, get quick access to capital, do payroll automation, share invoices with customers, and pay taxes and also view financial reports from a single dashboard.  Razorpay’s current account gives out features like chequebooks, debit cards, and account statements. Razorpay’s banking partner is RBL Bank.

    However, one can take the Razorpay advantage even if his business is unregistered. Razorpay lets its users access all the payment modes like credit and debit cards, net banking, UPI, and Mobile Wallet. Freelancers, small businesses, and individual service providers can easily collect payment via Razorpay by integrating Razorpay into their website or app. They can also create payment pages, payment links, payment buttons, QR codes, collect recurring payments, make vendor payments, generate invoices and do much more with Razorpay.






    Simplify Business Banking with Razorpay


    Top 50 Fintech Startups in India 2021 | Indian Fintech Companies
    Fintech startups in India like Paytm and Cred have transformed the perception of the finance segment with some achieving unicorn status in India.
    StartupTalkyAshwini

    Future Of Neobank Industry In India

    In 2019 Neobanks raised $90 million in India. People are getting more familiar with digital financial services and with all those facilities prefer them over others as well. Although RBI doesn’t provide licenses to virtual banks, they collaborate with physical banks and let the customers use their services. In the last three years, India witnessed a steep rise of neobanks and with the trend, it is only going to rise in the coming years.

    Conclusion

    The world is witnessing a change that is revolutionary, everything is turning digitalized. It wouldn’t be wrong to say that the entire world is being ruled by the devices that we carry in our pockets.

    With almost every service available digitally, the tech-savvy generation is indulging themselves in it enthusiastically plus the older generation is being a part of this change.

    Banking, which is one of the most important parts of our lives, is now available without physical branches, thus this boon of technological advancement is making life a lot easier.

    FAQ

    What is neobank?

    A neobank is a virtual bank that operates entirely online from customer onboarding, to availing the simplest banking services.

    Which is the best neobank in India?

    RazorpayX, Fampay, Jupiter and Instantpay are some of the top neobanks in India.

    How many neobanks are available in India?

    There are a total of 27 Neobanks in India.