StartupTalky

Tag: reliance

  • Jio Financial Services: Transforming the Indian Financial Sector

    Jio Financial Services collaborates with BlackRock to revolutionize wealth management and stockbroking in India, making significant strides in the financial sector.

    Jio Financial Services, the financial arm of Reliance Industries, has recently tied up with US-based BlackRock to make significant strides in stockbroking and wealth management.  

    The company announced a significant agreement last month, signing with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to establish a 50:50 joint venture (JV) dedicated to launching a wealth management and broking business in India.

    Jio Financial Services’ partnership with BlackRock, the world’s largest asset manager, is poised to revolutionize the way Indians access and manage their wealth, marking a significant milestone in the evolution of the country’s financial ecosystem. Notably, this marks the second collaboration between Jio and BlackRock, following their successful launch of an asset management venture last year.

    With this new partnership, both entities are poised to further strengthen their presence in India’s financial landscape, leveraging their combined expertise to offer innovative solutions tailored to the evolving needs of Indian investors.

    This article delves into the game-changing influence of Jio Financial Services and how it is revolutionizing the financial landscape. Jio Financial Services has emerged as a key player in the market, reshaping the way people access and manage their finances.

    Jio Financial’s Role in Revolutionizing the Financial Landscape
    Jio Financial Share Price and Its Significance
    Exploring the Services Offered by Jio Financial
    Jio Fin’s Competitive Advantage in the Market

    Jio Financial’s Role in Revolutionizing the Financial Landscape

    Jio Financial’s entry into the financial industry has been nothing short of revolutionary. By leveraging technology and digital platforms, Jio Financial has disrupted traditional financial practices and introduced a new era of convenience and accessibility. With its user-friendly interface and seamless integration, Jio Financial has made financial services more accessible to the masses, breaking down barriers and empowering individuals to take control of their financial future.

    Jio Financial Services Ltd (JFSL) was incorporated in July 2023. JFSL is a NBFC registered with the Reserve Bank of India. The company is a holding company and will operate its financial services business through its consumer-facing subsidiaries namely Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL), and joint venture namely Jio Payments Bank Limited (JPBL).

    Jio Financial Services is redefining the way people engage with banking, investing, and wealth management. Through its collaborative ventures, like the recent equal joint venture with BlackRock in stockbroking and wealth management, the company is not just expanding its offerings, but also setting new standards for transparency, accessibility, and customer-centricity in the financial sector.

    BlackRock’s deep understanding of global markets, combined with Jio Financial’s local insights and digital prowess, creates a potent combination that promises to unlock new opportunities and drive unprecedented growth in India’s financial sector.

    By leveraging BlackRock’s world-class asset management capabilities, Jio Financial aims to offer a wide range of investment products and wealth management solutions designed to cater to the needs of both retail and institutional investors.

    Jio Financial Services Ltd's Investor Presentation
    Jio Financial Services Ltd’s Investor Presentation

    One of the key areas of focus for the partnership will be the expansion of Jio Financial’s stockbroking and wealth management business. With India witnessing a surge in Demat accounts and a growing appetite for investment opportunities, the timing couldn’t be more suitable for JioFin and BlackRock to join forces and tap into this burgeoning market.

    In March 2024, India’s financial landscape witnessed a historic moment as the total number of demat accounts surpassed the 15 crore mark for the first time. This milestone, driven by sustained bullish momentum in the Indian market, reflects the growing interest and participation of investors in the country’s capital markets.

    According to Motilal Oswal Financial Services, a leading domestic brokerage house, the total number of demat accounts surged to 15.1 crores in March 2024. 

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    Jio Financial Share Price and Its Significance

    The share price of Jio Financial has been a topic of interest for investors and financial analysts alike. 

    The soaring share prices of Jio Financial reflect the market’s confidence in its potential and growth prospects. 

    Should You Invest In RIL & JIO FIN Shares After Q4 Earnings?

    Jio Financial Services stock soared to an unprecedented all-time high of Rs 394.70 per share on April 23, surpassing its previous record peak of Rs 384.85 per share. In the past one month, JioFin share has touched a peak of Rs 394.70 and reached a low of Rs 351. This surge underscores the remarkable momentum the stock has gathered in recent months.

    On May 2, Jio Financial Services closed at 0.78% up at Rs 379.85 per share on the National Stock Exchange. 

    On May 2, at 2328 IST, BlackRock shares were trading at 0.56% up at Rs 755.85 per share on the New York Stock Exchange.

    As more people recognize the value and convenience offered by JioFin’s services, the demand for its shares has skyrocketed. This surge in share price signifies the market’s belief in Jio Fin’s ability to revolutionize the financial sector and create substantial value for its investors.

    We at StartupTalky spoke to financial expert Gaurav Goel, a SEBI Registered Investment Adviser on the current surge in Jio Financial services share price and his outlook about the company.

    Considering the recent surge in Jio Financial Services’ share price, what factors are driving investor confidence in the company?

    Mr. Goel: The recent surge in the stock price of Jio Financial Services is a reflection of the possibilities in the business model of the company. It is expected to disrupt the existing business models, use technology as a fulcrum, and provide seamless execution across the board. Backed by one of the most powerful and richest business groups in India, this NBFC has been created to provide a one-stop financial services company in the country. This includes payment services, insurance broking, and a newly formed 50:50 joint venture with Blackrock to enter the asset management business in India. 

    With the expansion of Jio Financial Services into stockbroking and wealth management through its joint venture with BlackRock, how do you assess the potential benefits for investors?

    Mr. Goel: Blackrock is one of the biggest investment management companies across the globe, founded in 1988. It manages around 10 trillion dollars in assets (AUM) across a diverse range of equities, fixed income, and money market instruments with sound risk management practices. Their flagship product ‘Alladin’ has been a global disrupter in the financial space. They are not new to India either, having partnered with DSP earlier, but exited the business in 2018. Blackrock is known for its innovative investment strategies, technology-enabled products, and use of data analytics to run its business.

    Their venture with Jio Financial is likely to be pathbreaking. They plan to invest up to USD 150 million each and create ripples in the 500-billion-dollar (and growing) asset management industry in India. While Blackrock will leverage its strength of asset management, Jio Financial will use its network and resources to reach out to millions of people across the country.

    While the partnership looks attractive and the promise of disruptive delivery is exciting, it won’t be a cakewalk. A low-cost disruption like telecom won’t be easy due to regulatory challenges in the industry. Competition is well-established and intense and existing players will not give up that easily.

    In what ways do you think Jio Financial Services’ innovative approach is reshaping traditional banking and investment practices in India?

    Mr. Goel: The key differentiation lies in the use of technology, a comprehensive platform with a complete suite of products, risk management capabilities, financial muscle, use of existing network, and world-class strategic partnerships. The disruptor tag would ensure that it’s not taken lightly by other major players in the industry.

    Jio Financial Services Financial Results
    Jio Financial Services Financial Results

    V.L.A. Ambala, a Research Analyst (SEBI Registered), and Co-founder of Stock Market Today (SMT) spoke to StartupTalky and commented on the company’s prospects.

    As a research analyst, how would you advise investors to evaluate Jio Financial Services’ stock and its potential for long-term growth?

    Mr. Ambala: My advice for those interested in Jio Financial Services’ stock would be to assess its potential for long-term growth and factor in its fundamentals to make an informed choice. For instance, the company’s recent collaboration with global giant BlackRock for JioFin development adds substantial credibility to the stock. Additionally, JioFin has delivered substantial returns since its listing, indicating promising growth prospects. Hence, I hold a bullish view of this stock. However, I would recommend individuals approach this stock with a long-term mindset, aiming for a holding period of 9 to 35 months to capitalize on its potential. 

    For those seeking short-term gains, caution is advised as the stock is currently trading in the overbought zone. So, investors may consider investing in parts or waiting for a dip before entering the market. A strategy for averaging could involve monitoring the 50-day Exponential Moving Average (EMA) and adding lump sums at the 200-day EMA to mitigate risks and maximize returns.

    How do you interpret Jio Financial Services’ strategy of offering a wide range of financial services, including banking, insurance, wealth management, and digital payments, under one platform?

    Mr. Ambala: Jio Financial Services’ strategy of offering an array of financial services under one platform mirrors its parent company Reliance Group’s approach to market dominance. Leveraging the parent company’s reach, Jio Financial Services aims to disrupt the financial services landscape in India. The business house’s strategy involves identifying profitable sectors, entering them, and swiftly acquiring a significant market share through aggressive means. We have seen this kind of approach work in past ventures like Jio Telecommunications and Reliance Retail. 

    In India, with a large population of skilled yet unemployed individuals, there is a notable demand for earning opportunities. Increased awareness and internet accessibility have further fueled the demand for financial services, especially in Tier 3 and Tier 4 cities. While Jio Financial Services initially may offer freebies to attract users and build a substantial user base, the long-term strategy involves implementing competitive pricing policies. While such tactics are common in business, concerns about their impact on small businesses persist. 

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    With Jio Financial Services’ focus on digital-first operations and partnerships like BlackRock, what implications do you see for the broader financial industry in India?

    Mr. Ambala: Jio Financial Services’ emphasis on digital-first operations and strategic partnerships like BlackRock could have significant implications for the broader financial industry in India. While small businesses in the financial sector may face challenges competing with giant entities, some may merge or collapse under intense pressure. However, partnerships like the one with BlackRock may bring more opportunities and technological support for traders and the investing community.

    For instance, such associations could lead to the introduction of more advanced technologies and smart financial tools, enhancing the accessibility of financial services in India. Such developments could also help democratize access to investment opportunities and further empower individual investors. I also hope that the infusion of expertise from global financial giants could elevate industry standards and practices.

    Exploring the Services Offered by Jio Financial

    Jio Financial Services Ltd's Investor Presentation
    Jio Financial Services Ltd’s Investor Presentation

    Jio Financial Services offers a comprehensive range of financial products and services tailored to meet the diverse needs of its customers. Here’s an overview of some key services provided by Jio Financial:

    • Banking Services: Jio Fin provides digital banking solutions, including savings accounts, current accounts, and fixed deposits. Through its user-friendly mobile app and online platform, customers can conveniently manage their banking transactions, payments, and transfers.
    • Investment and Trading: With its foray into stockbroking, Jio Fin enables customers to invest in equities, derivatives, mutual funds, and other financial instruments. Through its intuitive trading platform, investors can access real-time market data, research reports, and analytical tools to make informed investment decisions.
    • Wealth Management: Jio Fin offers personalized wealth management services aimed at helping clients grow and preserve their wealth over the long term. This includes portfolio management, financial planning, retirement planning, and estate planning tailored to individual goals and risk profiles.
    • Insurance Solutions: Jio Fin provides a range of insurance products, including life insurance, health insurance, and general insurance, to help customers mitigate various risks and protect their financial well-being.
    • Digital Payments and Transactions: Leveraging its digital infrastructure, Jio Fin facilitates seamless digital payments, including bill payments, mobile recharges, and online purchases. It also offers a range of payment solutions for businesses, including POS terminals and digital invoicing.
    • Loan Products: Jio Fin offers a variety of loan products, such as personal loans, home loans, and vehicle loans, to cater to the financing needs of individuals and businesses. Its streamlined application process and competitive interest rates make borrowing hassle-free for customers.

    Overall, Jio Financial Services aims to revolutionize the financial landscape. By providing a seamless and integrated experience, Jio Fin has simplified financial management for individuals and businesses, making it easier than ever to navigate the complex world of finance.

    Jio Fin’s Competitive Advantage in the Market

    One of the key factors behind Jio Fin’s success is its competitive advantage in the market. With its extensive network and vast customer base, Jio Fin has a strong foundation to build upon.

    Jio Financial Services Investor Presentation
    Jio Financial Services Investor Presentation

    Additionally, Jio Fin’s strategic partnerships and collaborations with other industry players have further strengthened its position in the market. By leveraging its brand reputation and technological prowess, Jio Fin has positioned itself as a formidable competitor, challenging traditional financial institutions and shaping the industry’s future.

    • Strong Digital Infrastructure: Jio Fin benefits from Jio’s robust digital ecosystem, allowing for seamless online operations and customer interactions.
    • Cost Efficiency: By operating primarily online and without physical branches, Jio Fin significantly reduces overhead costs compared to traditional banks.
    • Innovative Technology: Jio Fin leverages cutting-edge technology to streamline processes, offer personalized services, and stay ahead of the curve in digital finance.
    • Extensive Reach: With Jio’s widespread network across urban and rural areas, Jio Fin can reach a vast customer base, including underserved segments of the population.
    • Strategic Partnerships: Collaborations with global financial players like BlackRock enhance Jio Fin’s product offerings and capabilities, giving it a competitive edge in the market.
    • Customer-centric Approach: Jio Fin prioritizes customer experience, offering tailored solutions and proactive support, thereby building strong loyalty and retention among its clientele.
    • Agility and Adaptability: Jio Fin’s nimble operations and agile decision-making enable it to respond quickly to market changes and customer needs, staying ahead of competitors.
    Jio Financial Services Investor Presentation
    Jio Financial Services Investor Presentation

    Conclusion

    The future of Jio Financial Services looks promising, with immense potential for growth and expansion. As more individuals and businesses embrace digital financial services, Jio Fin is well-positioned to capture a significant market share. 

    1. Market Expansion: Jio Fin is set to capitalize on India’s growing demand for digital financial services. With its innovative approach and digital infrastructure, it can reach both urban and rural markets effectively.
    2. Product Diversification: Jio Fin aims to expand its offerings beyond traditional banking and investments. By introducing new fintech solutions and insurance products, it can cater to a wider range of customer needs.
    3. Technological Advancements: Jio Fin’s commitment to advanced technology will enhance customer experiences and streamline processes. Investments in artificial intelligence (AI), data analytics, and blockchain will keep it ahead in the market.
    4. Strategic Partnerships: Collaborations with global financial institutions will accelerate Jio Fin’s expansion into new markets and introduce cutting-edge financial products.
    5. Customer-Centric Focus: Jio Fin’s dedication to customer satisfaction remains key. Personalized services, responsive support, and transparent pricing will foster lasting customer relationships.

    With its customer-centric approach and continuous innovation, Jio Fin is poised to introduce new features and services that will further enhance its value proposition. As the financial landscape continues to evolve, Jio Fin is likely to play a pivotal role in shaping the future of finance.

    FAQs

    What services will the new joint venture between Jio Financial Services and BlackRock offer?

    The joint venture aims to establish a wealth management and broking business in India. This venture will likely offer a range of financial services, including investment advice, portfolio management, trading, and potentially other wealth management solutions tailored to the Indian market.

    How will the partnership between Jio Financial Services and BlackRock benefit customers?

    Customers can expect to benefit from the combined expertise and resources of both companies. With BlackRock’s global reputation and Jio’s extensive digital infrastructure, the partnership may offer innovative financial products, personalized services, and enhanced access to investment opportunities, ultimately aiming to empower customers to achieve their financial goals more effectively.

    What are the key services provided by Jio Financial?

    The key services provided by Jio Financial include banking services, investment and trading, wealth management, insurance solutions, digital payments and transactions, and loan products.

  • Top Startups Funded by Reliance Through JioGenNext

    No big company or enterprise ever started from scratch; and to realize an innovative and actionable idea, one needs funds and resources. From Microsoft to Facebook to Pixar, most of them started with a great idea, lots of effort, and a small garage. Almost every day, entrepreneurs come up with out-of-the-box startup ideas and fancier methods to implement them. This, however, is easier said than done, since startups need both funding and resources along with immense hard work in their initial days to be successful.

    Although the work has to be put in by the startup founders and employees, the funding and resources part is often taken care of by investment ventures and private equity firms. However, in the previous couple of decades, industry giants have also taken to venture investment in startups. Various larger corporations have assigned a separate division to invest in promising startups, in return for stakes in the company. In this article, we discuss 10 startups funded by Reliance Industries, the solutions they have to offer, and their funding amount.

    C-Square
    EasyGov
    Asteria Aerospace
    Netradyne
    Fynd
    KareXpert
    Milkbasket
    Radisys
    Embibe
    Netmeds
    How to apply for JioNextGen’s Market Access Program?

    C-Square

    Founder Pradeep Chavan
    Industry Pharma Software
    Founded in 2002

    C-Square Homepage
    C-Square Homepage

    C-Square is a pharmacy management platform build to empower your business and automate processes. It was acquired by Reliance Industries in 2019 for an undisclosed amount and has since been a subsidiary of Reliance providing pharma ecosystem solutions. C-Square is a popular platform among pharma marketers and distributors with over 35,000 active customers and over 5,000 corporate clients. It also furnishes users with sales force automation tools for optimization and productivity along with excellent ERP for C&F Business for automating operations and managing inventory.

    EasyGov

    Founder Amit Shukla
    Industry Govtech
    Founded in 2015

    EasyGov Homepage
    EasyGov Homepage

    EasyGov, founded in 2015, is an initiative for the general masses for convenient access to schemes and programs launched by the government. It was funded by 2 investors in the Angel round and then acquired by Reliance Industries for an undisclosed amount. EasyGov endeavors to transform discovery and delivery by providing the public with a platform as an interface to communicate with the government. It has further stood by its promises by making technology simpler for both parties, sharing data for interdepartmental programs, and providing the right tools for collaboration keeping in the mind the security needed while handling sensitive information.

    Asteria Aerospace

    Co-Founders Neel Mehta and Nihar Vartak
    Industry Drone Technology
    Founded in 2011

    Asteria Aerospace Drones
    Asteria Aerospace Drones

    Asteria Aerospace is a robotics and artificial intelligence-based company founded in 2011 and has been funded by 3 investors including Reliance Industries, over one funding round. Asteria is striving to innovate UAV design and integrate it with robotics and artificial intelligence to collect data seamlessly. While its current hardware portfolio encompasses 3 drones with varying capacities and endurance, with the AT-15 model being the outmatching others, the software portfolio consists of 2 products including Cartis and Genesis, for project planning, monitoring, and asset management.

    Netradyne

    Founder Avneesh Agrawal
    Industry Software Development
    Founded in 2015

    Netradyne Awards and Accolades
    Netradyne Awards and Accolades

    Founded in 2015, Netradyne is a software development company that deploys deep learning and computer vision to find solutions to real-world problems. Netradyne raised funding of over $47 million from 4 investors including Reliance and M12 over 3 funding rounds, closing the most recent funding round in the December of 2019. Netradyne uses edge computing and implements machine learning and AI to reduce accidents and raise the driving standard for commercial vehicles. It captures real-time driving experiences and helps you understand driving behavior and how accidents can be avoided.

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    Fynd

    Founder Farooq Adam
    Industry E-commerce
    Founded in 2012

    Fynd Homepage
    Fynd Homepage

    Fynd, founded in 2012, is an Indian e-commerce platform and an online shopping destination for fashion and clothing. It has been funded by 19 investors over 7 funding rounds with 4 lead investors, raising about $4.4 million in funding, and was acquired by Reliance in 2019. Fynd operates through an offline-to-online model and offers various products ranging from men’s and women’s clothing to beauty and personal care products to home and living and baby care products. Fynd also sells some popular fashion brands including Nike, Spykar, Puma, and Red Chief, among others.

    KareXpert

    Founder Nidhi Jain
    Industry Design Technology
    Founded in 2004

    KareXpert in News and media
    KareXpert in News and media

    KareXpert is a design technology platform and a Digital Healthcare startup acquired by Reliance Industries for INR 10 Crore. Founded in 2004 by Nidhi Jain and based in Gurugram, KareXpert endeavors to realize “Patient Continuity” in India. It heads with a more customer-centric approach and cloud-based technology for healthcare providers and patients. Reliance also recently launched its healthcare app, JioHealthHub for users, and acquisition and investment in KareXpert seem in the view of strengthening the app.

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    Milkbasket

    Founders Anant Goel, Yatish Talavdia, Ashish Goel,
    Anurag Jain, and Ekwe Chiwundu Charles
    Industry Delivery service
    Founded in 2015

    Milkbasket Homepage
    Milkbasket Homepage

    Milkbasket is a micro-delivery service for grocery and household products. It raised over $38 million over 11 funding rounds from 18 investors including 9 lead investors. While its investors include some big names such as Blume Ventures and Unilever Ventures, Milkbasket was acquired by Reliance Industries for over $40 million. It offers its users a very basic approach where all the user needs to do is register with the app and add money to the Milkbasket wallet with any amount. Once this is done, the user can then start purchasing groceries and even set repetitive orders while the delivery team gets your order to your doorstep.

    Radisys

    President & CEO Arun Bhikshesvaran
    Industry Technology
    Founded in 1987

    Radisys Homepage
    Radisys Homepage

    Radisys, a leading provider of hardware and software for wireless, wireline, and video networks raised over $39 million in 2 funding rounds from Hale Capital. However, it was acquired by Reliance for $75 million in 2018, as it looks to enhance Jio’s presence in 5G and the Internet of Things. The solutions that RadiSys has to offer to encompass business applications such as audio, video, and edge media, Networking solutions such as virtual and open RAN, multi-access edge, as well as AI ops including software customization and conceptualization.

    Embibe

    Founder Aditi Avasthi
    Industry Edtech
    Founded in 2012

    Embibe Homepage
    Embibe Homepage

    Founded in 2012 by Aditi Avasthi, Embibe offers educational services powered by Artificial Intelligence for students with personalized feedback. In 2020, it garnered an investment of $196 million over 4 funding rounds with 4 investors including 2 lead investors with big names such as Reliance and Kalaari Capitals. Be it competitive exams such as the JEE and NEET or high school subjects, Embibe helps prepare and crack some of the toughest competitive exams and allows you to analyze and track your progress through the course of preparation. Embibe also offers various resources including college predictors and methods to enhance your scores along with a lot more.

    Netmeds

    Founders Pradeep Dadha and Bruce Schwack
    Industry Healthcare e-commerce
    Founded in 2010

    Netmeds Homepage
    Netmeds Homepage

    Founded in 2010, Netmeds is one of India’s most trusted online pharmacy companies and has raised a total funding of over $109 million. Netmeds was funded by 4 investors all of who were lead investors, now it has been acquired by Reliance through a 60% majority stake in the company. Netmeds delivers medicines and other health and personal care products including eyewear and surgical. It has also recently started delivering first aid kits, skin treatment, health supplements, and healthcare devices such as Orthopaedics and Measurements.

    How to apply for JioNextGen’s Market Access Program?

    Step 1: Visit the official page of JioGenNext

    Step 2: Click on APPLY NOW (on the top right of the page)

    Step 3: Click on Start and then Continue

    Step 4: Enter the company details:

    • Company name
    • Startup’s website URL
    • Your name
    • Email address
    • Your mobile number
    • Year of incorporation
    • State you are headquartered or located
    • City you are headquartered or located

    Step 5: Provide the following information about the startup:

    • Business kind
    • Customer’s pain point description
    • Product achievements for your customer
    • The key value proposition you offer to your customers
    • A typical customer journey of how the solution works
    • Link to the product demo
    • Industry in which your customer operates
    • The customer function your product focuses on
    • The technologies you are using in your product
    • The uniqueness of your product
    • Closest competitors
    • How do you earn/plan to earn revenue from customers

    If you have paying customers:

    • Single customer payment per month
    • The number of such paying customers currently
    • Share a customer testimonial: If you can, also share their company website
    • URL / LinkedIn profile/s

    Step 6: Provide information about the Founders and your backgrounds:

    • How did the founding team come up with the startup idea?
    • What puts your team in a special position to build a leadership position in the market?
    • Links to Founders’ profiles on LinkedIn

    Step 7: Answer a few more questions:

    • Were or are you part of any incubator/accelerator? If yes, which one?
    • Are you supported or registered under MeitY’s Schemes, Challenges,
    • Incubators, and Accelerators?
    • What does your funding situation look like right now?
    • What kind of an outcome are you looking for from JioGenNext?

    Step 8: Accept the DECLARATION

    Step 9: Submit the form

    Conclusion

    Reliance Industries is one of the giants in India and has managed to make its presence felt in the production and exploration of crude oil. JioGenNext incubated 170 Startups in 7 years span to support entrepreneurship and the startup ecosystem with mentorship and support. Hence, to say that entrepreneurship in India is just beginning to blossom would be an understatement, and the startup ecosystem will continue to thrive with such equity firms and actionable and innovative ideas.

    FAQs

    What is the rank of Reliance Industries in the world?

    Reliance Industries ranked 20th in Worlds’ Best Employers rankings. It is the highest among Indian companies.

    How many Startups are funded by Reliance Industries?

    Reliance Industries has funded 170 Startups.

    How to apply for JioNextGen’s Market Access Program?

    You can apply for it by visiting JioNextGen’s official page. Provide the company, startup, founders, and other details. Answer a series of questions about your business and then submit the form.

  • Reliance’s JioMart Expanded its Services to Compete in E-Grocery Market

    Reliance Industries is not unknown to the people of India and of the world now. Founded in May 1973, Reliance Industries is headquartered in Mumbai.

    It was a landmark step when Reliance Jio Infocomm Limited was launched after Reliance Industries bought a majority stake in Infotel Broadband Services Limited (IBSL). This made the telecommunication sector of Reliance run like never before.

    JioMart resulted when Reliance Industries converged with Jio Platforms, the parent of Reliance Jio Infocomm Limited, which does its business as Jio.

    The JioMart services were initially soft-launched in December 2019, and then launched in the selected areas of Thane, Navi Mumbai, and Kalyan in April 2020. These services were eventually expanded to over 200 towns across the country, after it was fully launched in May 2020.

    The latest venture by Mukesh Ambani has offered grocery delivery at the doorstep amid the deadly coronavirus outbreak. It continues to help the users procure groceries and numerous other products from a wide range of categories including fashion, home essentials, lifestyle products, and more, which it expanded to ever since it was established.

    JioMart currently competes with other prominent grocery delivery services like Amazon, Flipkart, and Big Basket in India.

    JioMart, Reliance Jio’s shopping portal, is now open for orders altogether metros and places like Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda where consumers can place the order for the required grocery.

    JioMart is currently growing in its sales through local kiranas that it keeps on onboarding on its platform, alongside servicing orders via its Reliance Fresh and Smart stores. Furthermore, it is also open with distribution centers in areas where orders through kiranas aren’t serviceable.

    JioMart – Desh ki Nayi Dukan
    JioMart – Industry
    JioMart – Growth
    JioMart – Partnerships
    JioMart – Logo and Tagline
    JioMart – Business and Revenue Model
    JioMart – How to Use?
    JioMart – Payment and Delivery Options
    JioMart – How will it affect Competitors?
    JioMart – Shaping the Future of India

    Mukesh Ambani’s JioMart Is Set To Dominate E-Commerce In India
    Mukesh Ambani launched JioMart in 2019. Read on to know more about JioMart’s business model, competitors, backstory, and features.
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    JioMart – Desh ki Nayi Dukan

    JioMart delivers a good range of products including fruits, vegetables, groceries, bakery products, beverages, household products, packaged food, and more. The JioMart website is jiomart.com.

    This Reliance Jio and Reliance Retail-powered platform operates through neighbourhood stores, supermarkets, hypermarkets, wholesale and online stores. The company integrated its registered customer database from Reliance Fresh, Reliance Smart and other retail businesses into JioMart.

    JioMart said the following in a statement-
    “We offer you the convenience of shopping everything that you need for your home – be it fresh fruits & vegetables, rice, dals, oil, packaged food, dairy item, frozen, pet food, household cleaning items & personal care products from a single virtual store.”

    The chief executive of grocery retail at Reliance Retail, Damodar Mall tweeted, “Never waste a crisis, they say! Big town or small, JioMart delivers in over 200 towns. Chinese e-commerce giant Alibaba (BABA) “flourished” during the 2003 SARS pandemWe seek similar opportunities by fulfilling the requirements during these tough times”.

    JioMart | Desh ki Nayi Dukan

    JioMart – Industry

    Indian Online Food and Grocery Market Growth
    Indian Online Food and Grocery Market Growth

    JioMart belongs to the online food and grocery industry. This industry has grown from 2013-2018 at a CAGR of 71.2%, and is expected to grow at a CAGR of 45.5% between 2018-2023.

    JioMart – Growth

    JioMart has certainly been a successful pilot and has grown well throughout these couple of years. Some of the major growth highlights of JioMart are:

    • JioMart witnessed a 3X increase in its merchant base in its grocery delivery vertical in the Q4 FY2021.
    • It expanded services to 10 new cities during the same fiscal
    • JioMart sees strong traction from Tier 3 cities and beyond
    • The company has seen a 3X growth in its order frequencies
    • JioMart has already onboarded over 300K merchants including kiranas and small merchants
    • Served over 1 mn customers, as reported on January 26, 2021
    • JioMart continues to scale up. It achieved a 3X growth in product assortment, 1.5X growth in order frequency, and has grown by 20% growth in average basket value (ABV).
    • The ecommerce platform also witnessed an 80% repeat order growth in Q4 FY2021
    • JioMart is also available on WhatsApp, on which the users can place orders for their groceries and other necessities.

    JioMart Express

    JioMart has launched JioMart Express in view of foraying into the popular quick commerce space in June 2022. The platform was piloted in Navi Mumbai and currently spans over 3K+ SKUs, which includes groceries, and personal and home care products.

    Though the quick commerce wing of JioMart and how it operates is not quite clear now, with some reports claiming that it is using Dunzo’s delivery fleet and local kirana stores as hyperlocal hubs, and others suggest that the Reliance Retail stores, the business is gaining popularity fast.

    JioMart Express is currently looking to expand its services to 200+ cities by the next fiscal. This new business of Reliance Retail and Jio will soon be operating in several other categories like medicines as well as small electronic products including smartphones.

    Benefits of JioMart Express

    Quick commerce delivery, which is fast becoming the trend with the likes of Zepto, Blinkit, Dunzo, Swiggy Instamart, and more, is springing numerous players from across industries, and this finally got to Reliance which is already one of the powerful names in a range of industries. This eventually led to the launch of JioMart Express. This quick commerce wing of JioMart will certainly be effective for the users in many ways. Here’s a look at the benefits of JioMart Express:

    • Express 90 minutes delivery
    • 3000+ grocery and essentials
    • No minimum order value
    • Numerous discount coupons and other options
    • Quality of Reliance
    • Redemption of points
    • Flexible online payments

    JioMart – Partnerships

    Facebook Inc. (now known as Meta) bought a 9.99% stake for $5.7 billion (Rs 43,574 crore) in Reliance Industries’ digital unit, Jio Platforms, on April 22, 2020. That partnership helped Reliance roll out its service for India’s grocers and little businesses by using India’s 400 million strong user base for Facebook’s WhatsApp messaging service. Three days after the deal, JioMart made its service live online via WhatsApp.

    JioMart mainly partners with a huge collection of local kirana stores that helps the platform grow. It has also partnered with numerous UPI platforms to make the payment journeys easy for the customers.

    ePayLater collaborated with JioMart on August 3, 2022, which will help the platform offer line of credit to its B2B customers. This is the last partnership that JioMart saw.

    JioMart – Logo and Tagline

    JIoMart Logo
    JIoMart Logo

    While mentioning JioMart, Mukesh Ambani, the head honcho of Reliance, said “Customer aapka, Support humara”, which means that JioMart will extend enormous support to the local vendors and kirana owners.

    JioMart – Business and Revenue Model

    JioMart operates in an O2O (offline to offline) business model. With JioMart the local kiranas and vendors will receive orders online, which will be delivered as per the latest time slots. The JioMart business model brings the trio – producers, customers and the kiranas together under the same platform.

    First of all, the Kirana owners should register. After applying for JioMart Kirana registration, JioMart will help those Kirana stores to make their Kirana shop go digital to receive orders via WhatsApp. Once the order is placed by the Kirana stores then a confirmation message is sent to the user to pick up the order from the store.

    The JioMart business model focuses on extending the customers an omnichannel experience.

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    JioMart – How to Use?

    Reliance jiomart- Online Grocery
    JioMart | Reliance Online Grocery

    The JioMart app is available on Apple and Google Play Store. JioMart is currently available as a mobile and desktop website. The services of JioMart can also be availed via Facebook-owned instant messaging app WhatsApp.

    To check if JioMart’s service is open in your location or not, you need to enter your pin code in the ‘Delivering to’ field on the website. If you get a green signal, it means the service is there in your area. Otherwise, a message in red appears, “We are currently not available at this location. Stay tuned!”

    The ‘search with list’ option is the handiest feature of this site. You can simply paste or write the entire product list in this section instead of searching one by one. The website will search for the products sequentially for you. You need to place your choice in the cart.

    To place an order, one needs to log on to jiomart.com. If the order value is less than ₹750, a nominal delivery fee of ₹25 will be added. Above an order value of ₹750, JioMart offers free delivery. The customer can pay either online or offline.

    JioMart – Payment and Delivery Options

    Jio has integrated many payment options such as e-wallets and UPI on the website. The company has incorporated almost all kinds of payment methods. Various e-wallets like Paytm, PhonePe, JioMoney, Google Pay, and MobiKwik are also supported. The website has a Net Banking option along with the Credit/Debit card provisions. If not online, one can also go for cash on delivery (COD).

    One of the things that the users might find inconvenient is that JioMart does not offer same-day delivery. The orders are generally delivered within two days. If there happens to be a lockdown or if similar strictures are imposed, the delivery time may get extended in some cases. However, this would be solved with JioMart Express, which is the quick commerce arm of JioMart.

    Some improvements are required like changes to the searching process. The problem is that a particular product might be named differently according to the local language, which can hamper the search for that product. The search algorithm needs to detect such discrepancies. Otherwise, the website cannot cater to different customer requirements.

    JioMart – How will it affect Competitors?

    JioMart, promoted as ‘Desh ki Nayi Dukan’, offers free express grocery delivery from neighborhood grocery or Kirana stores. JioMart’s launch comes as India is witnessing an increase in coronavirus cases. Officials have said that the product catalog on JioMart’s website will be expanded once the lockdown restrictions are lifted. JioMart will then work at its full capacity.

    JioMart is undoubtedly a tough competitor to other online grocery shops like BigBasket and Grofers (now Blinkit). JioMart offers fresh food, pulses, packaged food, household cleaning items, pet food, and other categories of products on its website. It is all set to take on the big players such as BigBasket, Blinkit, Amazon Fresh and Pantry, and Flipkart’s Supermart.

    Amazon (AMZN) and Walmart-owned (WMT) Flipkart are the two dominant e-commerce platforms in India. Both companies operate in hundreds of cities across the country. They deliver goods such as smartphones, electronics, and clothing. Both companies also launched online grocery deliveries last year. JioMart’s launch is a reason for worry for Amazon and Flipkart because they are not very strong in the grocery segment.

    JioMart’s expansion also comes as millions of Indians remain under lockdown because of the coronavirus pandemic. Amazon and Flipkart have also faced difficulty delivering orders across India during the Covid-19 pandemic. This is due to the restrictions imposed on traveling from one city to another. The lockdown required the company to accelerate expansion plans with increasing warehouse capacities.

    Due to the lockdown imposed in India, Flipkart temporarily suspended services and Amazon had to limit orders as it responded to increased demand. Despite the various complexities and challenges of zonal restrictions and supply chain disruption, Flipkart and other e-commerce companies have worked to deliver essential goods while considering the safety of their employees. It will pose a formidable challenge to local rivals who are also betting big on groceries for their growth.

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    JioMart – Shaping the Future of India

    According to investment research firm Bernstein, grocery constitutes 70% of the Indian retail market. More than 90% of the market is unorganized and driven by kirana stores. The overall retail market is expected to double in size from $676 billion in 2018 to nearly $1.3 trillion by 2025, according to Bernstein.

    According to Forrester, India’s online grocery market is small by comparison and worth around $3 billion this year. But the firm says that the number is growing fast as the pandemic changes people’s shopping habits. JioMart was launched in December last year with the goal of connecting 3 crore kiranas or grocery stores with local consumers online.

    Reliance is on a fundraising spree through Jio Platforms, which includes the telecom venture Jio Infocomm. It has raised a massive $10 billion from investors including Facebook, KKR, and General Atlantic in a month. JioMart is selling shares worth $7 billion (around Rs. 53,000 crores).

    Bernstein and Forrester’s analysts say JioMart is well placed to disrupt the online grocery market because it can source supplies from Reliance’s brick-and-mortar stores. Reliance is India’s largest retail operator. If JioMart manages to get kiranas online and organized, it will also have a hyper-local supply and logistics chain that can be used to meet the demand.

    Conclusion

    Competitions are everywhere. In order to survive in the market, the companies should keep improving, provide better options, should solve problems, and keep thriving to become better than its competitor.

    The platform is certainly one of the most revolutionary approaches of Reliance that has already helped numerous users across the country, who now have an access to a majority of all that they might want including groceries and essentials. JioMart is a blessing in disguise for the Kirana owners.

    Reliance’s JioMart has already roped in over 300K Kirana stores and local vendors/merchants across the country and is planning to increase the number rapidly across India. Later the company is planning to make these stores JioMart franchises to source products directly from Reliance retails and make them fully digital. All the orders can be fulfilled by the local Kirana stores.

    FAQs

    How do I shop from JioMart?

    Download the JioMart App & Register with your Mobile Number. Login – Select City, Enter Pin code. Select from a wide range of categories to choose from. Add items to cart, complete payment & check out.

    How JioMart will work?

    JioMart is essentially an aggregator between customers and nearby stores, in a similar way that other online delivery aggregators work. This saves JioMart from separately acquiring customers on its platform, which is a key barrier when a new app or a service is launched.

    What is the minimum order for JioMart?

    Initially, JioMart required a minimum order value of Rs 750 for free delivery. Existing players like Alibaba-backed Bigbasket, Amazon India, or Flipkart typically require upwards of Rs 600 order size for free delivery.

    Is JioMart available in Vizag?

    Reliance’s online shopping portal, JioMart, is now open for orders in 200 cities including all metros and places such as Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda.

    Is JioMart available on Whatsapp?

    After JioMart partnered with Facebook-owned Whatsapp, the platform now offers the users the facilities of ordering their groceries and essentials as per their requirements via the Whatsapp platform itself.

  • Reliance Jio – The Success Story of the 1st Network to Provide 4G VoLTE Services in India!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Jio.

    When do you think a revolution came in the telecommunication industry? Well, the most common answer is after the launch of Mukesh Ambani’s Jio. This company made an incredible entry into the Indian mobile telecom sector with the most exclusive cost leadership strategy that revolutionized the whole market of telecommunication. But how do you think did that happen?

    Was it the investments in the company or the business model or Mukesh Ambani’s strategic plans?

    To know more about How Jio Started, information about Jio company, the Success Story of Reliance Jio, and how Jio changed India, you go through this StartupTalky article.

    Reliance Jio – Company Highlights

    Company Name Jio (Joint Implementation Opportunities)
    Headquarter Mumbai, India
    Sector Telecommunications
    Founder Mukesh Ambani
    Founded 15th February 2007
    Revenue Rs 18,952 crore (FY21,Q1)
    Profit Rs 3,651 crore (FY21, Q1)
    Average Revenue per user (ARPU) INR 138.4 (FY21, Q1)
    Reliance Jio Slogan ‘Digital Life’
    Reliance Jio Tagline ‘Jio jee bharke’ (Live life to the fullest)
    Parent Organization Reliance Industries
    Website jio.com

    About Jio
    Founders of Jio and team
    Jio – Startup Story | How was Jio Started?
    Jio – Name, Tagline, and Logo
    Jio – Business Model and How it Works?
    Jio – Growth
    Jio – Competitors
    Jio – Future Plans

    Reliance Jio
    Who Dominates Mobile Subscriptions?

    About Jio

    When Anil Ambani and Mukesh Ambani had a split in the year 2005, it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom, became a part of the Anil Ambani Group. Furthermore, Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited, which was the only successful bidder across India for the 4G network.

    This is when Mukesh Ambani’s Reliance Limited started working on establishing a base for a high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.

    Jio launched these services on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.

    This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs 250-300 for 1 GB 4G data, which went down to Rs 5 per GB during the initial days. Along with these amazing plans, Jio also started offering free voice calling and free 100 SMS per day for all its Prime members.

    JioPhone Next

    The all-new ‘JioPhone Next’, is being jointly developed by Mukesh Ambani-led Reliance and tech giant, Google was scheduled for a Ganesh Chaturthi release, on September 10, 2021. However, Reliance Telecommunication’s revolutionary product hit a roadblock due to an acute global shortage of semiconductors and had been postponed till Diwali at least, as per the reports dated September 10, 2021. The company then remarked that it had already started testing the device among a limited set of users to identify further scopes of refinement and make them easily available foolproof in November, during the festive season of Diwali. With this, Reliance Jio had also bought some more time to figure out efficient ways to mitigate the global shortage of semiconductors. This Reliance JioPhone Next was finally launched on November 4, 2021. These phones now comes at Rs 6,499, and is powered with the Android-powered Pragati OS, and a Qualcomm Snapdragon QM215 processor. The JioPhone Next can also be bought by paying Rs 1,999 only by the users who lack the options of paying for the phone upfront. However, they also need to pay the company for the full price of the phone later on by monthly installments.

    The JioPhone Next can be summed up as a good option if you are looking for an entry-level budget phone, and if you don’t have Rs 6000-7000 or more to buy new phones. However, these phones also have numerous drawbacks like:

    • JioPhone Next is sluggish being deficient of adequate RAM
    • You need to only use a Jio sim as the primary SIM to use it
    • The phone can also be turned of by the financer if it is not properly paid for
    • It comes in with an Android OS, but has its own JIO customisations

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    Founders of Jio and team

    Mukesh Dhirubhai Ambani is one of the richest men in the world. He is the Founder of Jio.

    Mukesh Ambani - Founder of Jio
    Mukesh Ambani – Founder of Jio

    Mukesh is reportedly the richest man in India and his family is popularly known as the richest family in Asia, according to Forbes. Mukesh Dhirubhai Ambani was the Chief Managing Director (CMD) of Reliance Industries Ltd, which is one of the biggest conglomerates in India.

    Mukesh was born in Aden but he grew up in Mumbai. Being one of the most influential and powerful personalities of the country he has provided his business acumens to the whole world. Mukesh Ambani is the owner of the world’s largest refinery. He has achieved tons of notable accomplishments and is a part of many renowned institutes as well. Ambani was the Director and Chairman of Reliance JIO Infocomm Ltd. too before he stepped down with effect from June 27, 2022, and his son, Akash Ambani, who was a Non-Executive Director, has been appointed as the Chairman of the company, as per reports dated June 29, 2022. The Jio board has also revealed the appointments of Raminder Singh Gujral and K.V. Chowdary as additional directors of the company, who will serve as independent directors for the next 5 years, commencing from June 27, 2022. Furthermore, Pankaj Mohan Pawar has been appointed as the Managing Director of the Jio business also for 5 years.

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    –

    Jio – Startup Story | How was Jio Started?

    Some time back, Mukesh Ambani the founder of Jio was asked about how he thought of coming up with such an amazing idea to which he said that this idea was seeded by his daughter Isha Ambani. In 2011, Isha Ambani was a student at Yale in the US and was home for the holidays.

    She told her dad how bad the internet connectivity was at their house because she couldn’t submit her coursework. At that time, Mukesh Ambani realized that how India is suffering from bad and poor connectivity of the internet.

    The data was severely scarce and overpriced, which was unaffordable to a majority of Indians. Since then, Mukesh Ambani started working on Jio to make the data services abundant and affordable in every part of the country, which gave birth to Reliance Telecommunication’s Jio business line.

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    JIO stands for Joint Implementation Opportunities and the full name of the company is Reliance Jio Infocom Ltd.

    Reliance Jio Logo

    The logo of Reliance Jio has a hidden meaning. When we flip the logo and look at its mirror image it is read as ‘oil’ which represents the past and future of Reliance. The company Reliance appeared as a business giant in the 20th century because of its Oil business and in the 21st century probably the flipped version, Jio has successfully ushered in another revolution.

    The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’ which means live life to the fullest.

    Jio – Business Model and How it Works?

    Reliance Jio had really smart strategies and most of them belonged to the founder Mukesh Ambani. For its initial year, Jio gave unlimited data services and high-quality Volte calling services at surprisingly low charges. The complete change in the market made other telecom operators change their business models.

    These offers created a lot of radical and unexpected changes in the consumer’s behavior as well. Also, it led to many mergers and acquisitions in Indian mobile network providers. Jio, in turn, made people use more and more services so that they spend more.

    Jio eventually started charging 6 paise per minute on its calling services. The company has now launched numerous value packs consisting of both internet and calling benefits along with other on-demand subscriptions at competitive rates, which are even lower for Jio phone users.

    Well, in the initial phase Reliance took a big risk to enter into the telecom industry but it has proved to be one of the best companies in the current market.

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    Jio – Growth

    Jio has already proven to be a rising force being a revolutionary company and the torchbearer of the Indian 4G VoLTE services. The Mukesh Ambani-led company is currently the leading telecommunication service provider in India. The Jio company is now working to empower the Indian users with the 5G and 6G services as well. Jio is the 3rd largest mobile network operator in the world with over 179.93 million users.

    Jio has added 1.6 mn+ wireless subscribers to its network in April 2022. In the broadband segment, Jio leads the path, which currently boasts of 52.15% of the total Indian userbase, followed by Bharti Airtel, which now enjoys 31.61% of the market share. Reliance Industries’ shares reportedly closed 1.5% higher at Rs 2,529 on the BSE on June 28, 2022.  

    Jio launched the fiber to the home service in 2019, which now offers home broadband, telephone, and television services. When the coronavirus made things scary for businesses and professionals, Mukesh Ambani made his company Reliance Jio net debt-free 9 months before the deadline. The conglomerate has raised Rs 53,124.0 crore by offering shares to its existing shareholders and another Rs 118,318.45 crore by selling stakes in the Jio platform through 12 deals.

    Reliance Jio has become the country’s largest-ever right issue and series of stake sales deals in its arm Jio Platforms, delivering on a promise given to its shareholders in last year’s August.

    “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a statement released early on Friday.

    Reliance Industries is in its ‘Golden Decade’ and Mr. Mukesh Ambani has assured his shareholders that in this decade RIL will set even more ambitious growth goals and achieve them. Back in 2017, Mr. Ambani said that the energy-to-telecom conglomerate was on the verge of a golden decade where it would yield the returns of its largest-ever capacity expansion in its petrochemical business and its investment in Jio. With these investments, the company’s net debt was Rs 161,035 crore, as of March 31, 2020, and the funds raised in the last 8 weeks exceeded it. Along with the stake sale to BP in the petro-retail joint venture, the total fundraising is in excess of Rs 1.75 lakh crore.

    In twelve weeks thirteen different companies have invested in Jio platform, from leading Global investors which included Facebook, Silver Lake(Twice), Vista Equity Partner, General Atlantic, KKR. & Co.Inc.,  Mubadala Investment Company, Abu Dhabi Investment Authority, TPG Capital, L Catterton, Saudi Arabia PIF, and Qualcomm.

    Companies Investing In Jio In A Nutshell

    Name of the Company Stakes Total Investments
    Facebook 9.99% INR 43,574 cr
    Vista Equity Partner 2.32% INR 11, 367 cr
    Silver Lake Partner 1.15% INR 5,655.75 cr
    General Atlantic 1.34% INR 6,598.38 cr
    KKR & Co. Inc. 2.32% INR 11,367 cr
    Mubadala Investment Company 1.85% INR 9,093.60 cr
    Silver Lake Partner 0.93% INR 4,546.80 cr
    Abu Dhabi Investment Authority 1.16% INR 5,683.5 cr
    TPG Capital 0.93% INR 4.546.80 cr
    L Catterton 0.39% INR 1,894.50 cr
    Saudi Arabia’s Wealth Fund PIF 2.32% INR 11,367 cr
    Qualcomm 0.15% INR 730 cr

    Jio Platforms has diluted 25.24% of its equity. That’s the maximum they have in view to dilute to financial investors, which includes Mark Zukerberg’s Facebook. Any new investors coming on board in the future will have to be “strategic investors, a tech giant, for instance,” said a source who was part of the deal-making process. The RIL-FB partnership could emerge as the core platform for India’s digital economy and as more consumers and small businesses shift online, it could unlock a digital market worth $2 trillion.

    The secret behind Jio’s success is that it is customer-centric and has a webscale mentality. Reliance Jio made it look easy when it successfully swooped into the jam-packed and super competitive mobile market with free 4G voice and data service. So, in a nutshell, Reliance Jio, aims at harnessing the full potential of the internet to create a digital revolution through their technologies. Innovative services and long-term planning will radically bring the world at one’s fingertips much faster and also transform the way Indians think, work, live, and are entertained.

    Reliance Jio announced plans for integrated fibre connectivity and digital solutions to transform over 50 Million small and medium businesses in India on March 9, 2021. A statement released by Reliance Jio said – “Under this plan, Indian MSMEs will get Jio connectivity at one-tenth (1/10th) of the existing price in the market. They will also be able to collaborate with Jio partners to get easy-to-use solutions”  

    Reliance Jio also announced to launch of its new product JioBook, as per the reports dated March 8, 2021. After years of speculation, it is believed that the product is in the Engineering Validation test stage. JioBook is a laptop, that is said to be affordable and would attract a lot of customers. As per the speculations, the price of the laptop would start from INR 10,000 onwards.

    Reliance Jio emerged as the top bidder in India’s $11 billion airwaves auction, said the reports on March 2, 2021. Reliance Jio bought airwaves worth Rs 571.23 billion ($7.8 billion) of the total Rs 778.2 billion raised in the latest spectrum auction. Jio’s competitors – Bharti Airtel Ltd., spent $2.6 billion and Vodafone Plc’s India unit bought spectrum worth Rs 19.9 billion.

    Some of the popular Jio Apps that the customers can now find are:

    • Jio Pages – A Jio launched web browser for Android mobiles
    • Jio Chat – JioChat is an instant messaging and video calling app for Jio users.
    • Jio Cinema – An online HD video library by Jio, designed to provide the users with movies, tv shows, and music videos online
    • Jio Cloud – A safe and secure cloud storage service from Jio
    • Jio Health – A health services app from Jio
    • JioNews – A news app or e-reader for news by Jio
    • JioMeet – A video-conferencing platform from Jio
    • JioMoney – A mobile wallet for the Jio customers
    • JioSaavn – Provides online and offline music streaming in English and Indian languages
    • JioSecurity – A mobile security and antivirus app
    • JioTV – A streaming service brought by Jio
    • JioCall (Jio4GVoice) – A videocalling feature for the fixed-line number customers
    • MyJio – A Jio account using which the Jio users can manage their Jio account and digital services

    Jio also has a list of other products and services. Here are some important ones to know about:

    • Mobile broadband service
    • JioFiber
    • JioBusiness
    • JioNet Wi-fi
    • JioPhone Next

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    Jio – Competitors

    There are many telecommunication brands that have thrived for long years in the telecommunication space of India. Popular brands like Airtel, Idea, Vodafone, etc. had achieved the customer’s trust for years and are still among the Reliance Jio competitors. However, with the disruptive entry of Jio, they had to hurry things up and make significant changes in their business models, strategies, and workings to match up with Jio’s radical approach.

    Small network operators like Aircel, Tata Teleservices, and Telenor had to shut down their functions in India because of the revolution brought by Jio into the market. The profits of other Telecom operators have also drastically decreased since Jio’s inception. Idea also had to merge with Vodafone eventually to make the company Vodafone Idea or Vi.

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    Jio – Future Plans

    Mukesh Ambani, recently in an interview, stated that Reliance Jio is now focusing on growing the teledensity in the rural and remote areas. The company is continuing to grow in demand for telecom services and provides digital services with greater services.

    Reliance Jio planned to build a data center in UP with approximately $950 million as an investment on February 23, 2021. This center will be powered by its own renewable energy plant.

    The company may also expand from being a digital telecom service provider to a digital services player which also offers services related to agriculture, healthcare, and education. Jio also aims to be an influencer and initiator in bringing and developing 5G services in India. The future Reliance Jio projects also include the launching of the 5G and 6G services, and the launch of the JioPhone Next, which was done in November 2021.

    FAQs

    What is Reliance Jio Tagline/Slogan?

    The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’, which means live life to the fullest.

    Who is Reliance Jio Founder?

    Mukesh Dhirubhai Ambani is the founder of Reliance Jio.

    How much is Reliance Jio Revenue?

    In the second quarter of FY2021, it reported a revenue of INR 17,481 Cr with a profit of INR 2,844 Cr. In Q1, the company reported INR 16,557 Cr in revenue. Reliance Jio’s average revenue per user (ARPU) has gone up to INR 140, during Q1 of FY2021.

    Who are Reliance Jio’s top competitors?

    Airtel, and Vi are the prominent competitors of Reliance Jio.

    How much is Mukesh Ambani’s net worth?

    Mukesh Ambani’s net worth is $90.7 bn, as of April 2022.

    Does Reliance Jio have any subsidiaries?

    Yes. Reliance Jio’s subsidiaries are LYF and Reliance Jio Infocomm Pte. Ltd.

    How much is Reliance Jio’s customer base?

    As of April 2022, Reliance Jio recorded 179.93 million users.

  • Oil & Gas Industry in India 2022: Market Size, Key Players, Recent Plans

    The Oil and Gas Industry has been playing a vital role in the development of the Indian Economy as well as being a crucial sector among the eight core industries in India. Apart from the agricultural, Automobile, Chemical, and other major industry sectors, the oil & gas industry lobbying an impact on the Indian economy since its commencement.

    Back in time, people considered petroleum, gas, oil, diamonds, gold, and other high-priced metals, as a source of income in trading them. Moreover, India stands as the 3rd Largest consumer of oil in the world and fourth place as the biggest refiner in the world.

    The industry accomplishes every task that they have planned to do before the deadline, and ultimately became an on-demand energy industry globally. Whereas, India was the second top net crude oil products importer as of 2019. Regardless, the industry is also planning to enhance as much as an investment to result in the top oil & gas industry in the world.

    The journey began in 1889, when India discovered the first oil deposits and gas fields in the town of Digboi, Assam. Later, India magnified the natural gas and oil industry in the 1960s and dilated the services to a pinnacle industry, and eventually bolstered the economy as a prominent industry in India.

    The Oil and Gas Industry in India built reserves & Petrol stations etc. Besides, it cast the Indian economy in good terms of Imports, trading, refining, consumption, distribution, and foreign trade.

    Classification of Oil & Gas Industry in India
    Market size of Oil & Gas Industry in India
    Recent plans of the Oil & Gas Industry in 2022
    Key Players to Look Out for in the Oil & Gas Industry in India

    Classification of Oil & Gas Industry in India

    The oil and gas industries are further breakdown into three distinct parts. These parts are named Upstream companies, Midstream companies, and Downstream companies. The basic details about all the three companies are given below.

    Classification of the Oil and Gas industry into three different companies
    Classification of the Oil and Gas industry into three different companies

    Upstream Companies:

    The Oil and Gas Industry in India looks for dormant underground crude oil or natural gas by penetrating exploratory wells and extracting the resource to the surface. Notable Oil and Gas Industry in India Upstream attributes to the exploration and production sector.

    Midstream Companies:

    On the other hand, those extracted resources are meant to process, stored, marketed, and traded as exports. Therefore, Midstream companies function as a connection between the production area and the ultimate consumer location (marketplace).

    Downstream Companies:

    The third category of the Oil & Gas industry operates the part of oil refineries, petroleum products distributors, planters of petrol chemical stations, and retail outlets of natural gas.

    Market size of Oil & Gas Industry in India

    The Indian Oil & Gas industry became the third-largest consumer of oil in 2021 and planning to accomplish the position of the largest contributor to non-OECD petroleum consumption thrive.

    As mentioned above, India attains as one of the topmost crude oil production abreast importers in the world. In recent times, a provisional refinery has been installed on the concurred of Government to burgeon as the Largest Domestic refiner at a worth of crude processing capacity of 1.24 million Barrels Per Stream Day (BPSD).

    Last year the world faced a down economy because of the ongoing pandemic. According to the reports for the Financial year 2021, the industry faced a drawback in the exports of petroleum products which are estimated to fall from 65.7 to 56.8 MMT. However, with the change in the world stability, crude oil imports were recorded to rise sharply with the worth US $94.3 billion in FY 2022.

    Export of Petroleum Products from India (MMT)
    Export of Petroleum Products from India (MMT)

    Nevertheless, still, the oil & gas industry in India showed a spiked percentage of 3.7% in the consumption of petroleum products which is comparable to the financial year 2019. In 2020, the Gas Authority of India Ltd. held the largest share of the country’s natural gas pipeline network.

    For the year 2021, the industry anticipates enticing US corporations to invest around 25 billion dollars in Upstream companies by 2022. Additionally, the Oil & Gas industry in India showed a reduction in crude oil production which stood at 30.5 MMT for FY21, analogous to the 32.2 MMT in FY20.

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    Recent plans of the Oil & Gas Industry in 2022

    The major plans and schemes for the Oil and Gas Industry can be seen in the Union Budget. The government has allocated funds worth INR 12,480 crores for direct benefit transfer of LPG and INR 1078 crores for feedback subsidy to BPCL / AssamGas Cracker Complex in the year 2021.

    Prime minister Narendra Modi in February 2021, declared that INR 7.5 trillion will be invested by the Indian Government in improving Oil and Gas Infrastructure in the upcoming five years.

    An LNG (Liquified Natural Gas) policy draft was published by the petroleum and Natural gas ministry and it aims at increasing the LNG regasification capacity of India.

    In February 2022, Mr. Hardeep Singh (the minister of petroleum and natural gas) was noted to announce that India will increase its oil and gas exploration area to 0.5 million sq. km by the year 2025. He was also noted to further clarify that the exploration area will be increased to 1 million sq. km by the year 2030. These changes will be applied to increase the domestic output from the oil and gas sector.

    Key Players to Look Out for in the Oil & Gas Industry in India

    There are not many players in the Oil and gas sector of India. Yet, amongst them all, the top players in the Oil and Gas Industry in India that have made their mark are:

    Key players for Oil and Gas industry in India
    Key players for Oil and Gas industry in India

    Reliance Industries Limited (RIL):

    Reliance Industries Limited trades in the research and analysis of Oil and Gas and production is also a key part of the business concern. Reliance Petroleum headquartered in Ahmedabad, Gujarat founded in 2008 falls under the petroleum and natural gas industry. It was merged with Reliance Industries Limited in 2009.

    Oil and Natural Gas Corporation (ONGC):

    Oil and Natural Gas Corporation is a government-owned corporation that handles in production and distribution of crude oil and natural gas in India. In India, ONGC is the largest company that produces and explores oil and gas reserves. The company is owned by the petroleum and natural gas ministry of India and was founded in 1956.

    Indian Oil Corporation Limited (IOCL):

    Indian Oil Corporation is a publicly owned conglomerate. It is a property that is in the possession of the petroleum and natural gas ministry, Government of India. It is headquartered in New Delhi and was founded in June 1959.

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    Conclusion

    India with its increasing population has increasing needs and this is true in the case of Oil and Gas procurement and usage in India. India is the third-largest consumer of Oil in the world. Petroleum products have the highest share of 14 percent in Indian exports.

    This points out that the Oil and Gas industry is one main source of revenue for the country and the increasing energy demands of the country can only signify the rapid growth of the Oil and Gas Industry in India in the future.

    FAQs

    Where is India’s largest oil field located?

    The largest oil field in India is Bombay high. It is known to be situated 161 km north of the Bombay coast in Mumbai, Maharashtra.

    What is the future of the oil and gas industry in India?

    The industry of oil and gas in India will be seen a decline in the use of biofuels, batteries, and hydrogen rather than consuming more non-renewable resources to fulfill the demand of citizens.

    Who produces gas in India?

    The major of the gas is produced in the Gujarat state of India. About 11% of gas is produced by Gujarat and the remaining is made by a bunch of states such as Andhra Pradesh, Assam, Tripura, Tamil Nadu, and Rajasthan.

    What is the GDP percentage for the oil and gas industry in India?

    The oil and gas industry is counted among the 8 core industries contributing to the Indian GDP. The oil and gas industry stands for 15% of the country’s Gross Domestic Product (GDP).

  • Most Popular And Successful Online Retail Startups In India

    The days when we had to go to various retail stores to buy things for ourselves are going away. The increasing technology has given a massive rise to retail startups.

    With the expansion of digitization, everything is going online. Be it classes, courses, jobs, shopping, or more, all these can be done just with the internet and an internet supporting device.

    Many players like Amazon have been in existence for quite a long time. But the increasing adaptation of Indian customers towards online shopping has given a rise to more players in the market.

    Now, there are various retail startups in India that are going super well and making great progress. These include Nykaa, MeatRoot, Generico, and many more.

    What Are Retail Startups?
    Which is The Largest Retailer in India?
    Top Retail Startups in India

    1. Nykaa
    2. Myntra
    3. Flipkart
    4. Paytm Mall
    5. Blinkit
    6. Lenskart
    7. Sugar Cosmetics
    8. Bombay Shaving Company
    9. Chumbak
    10. FirstCry
    11. Pepperfry
    12. Sleepy Owl
    13. Licious
    14. Arzooo
    15. Faasos
    16. DroptheQ
    17. MeatRoot
    18. DealShare
    19. Healthkart
    20. Zeno Health

    Most Valued Retail Startups in India

    What Are Retail Startups?

    These are the startups that deal in the sale of goods and services to customers. These are responsible for providing the products and services that we need from clothing, food, home appliances, labor, etc.

    Some retail startups may also be the producers themselves. The others, however, connect the producers with consumers. The online retail industry has seen a great expansion in the past decade.

    These are mostly involved in the retail sale of stuff through electronic shopping which means through their sites and applications. They may or may not have store retailing.

    Begging a retail startup can be super challenging for any entrepreneur. This is because of the increasing rise in the competitors and risks in the market. Such businesspersons are the ones who are good at multi-tasking, willing to handle risks, and also survive and thrive in a competitive environment.

    Which is The Largest Retailer in India?

    Reliance Retail

    Reliance Retail Revenue Growth
    Reliance Retail Revenue Growth

    The name that every Indian is familiar with is Reliance. Reliance Retail is the largest retailer in India. In 2006, the enterprise decided to enter the retail industry by initiating its subsidiary, Reliance Retails. Mukesh Ambani founded this and when it comes to profit it is known to be the largest retailer in India. The headquarters is in Mumbai.

    It includes Reliance Fresh, 7 Eleven, Reliance Trends, and Reliance consumer brand.

    Top Retail Startups in India

    Retail startups have now been existing in India for quite some time. The pandemic gave a great rise to retail industry. It not only strengthened the existing startups but also paved way for the new ones.

    The following are the top retail startups in India:

    Nykaa

    Founded: 2012
    Founder: Falguni Nayar
    Headquarters: Mumbai

    It is a beauty retail startup that sells beauty, wellbeing, and apparel products. It was founded in the year 2012. The founder is Falguni Nayar. The headquarters is in Mumbai. It provides products from brands like Maybelline, Lakme, Loreal, and more. Along with these, Nykaa offers a wide range of products under its name as well.

    Its products are available on its website, application, and offline stores. It is one of the most successful retail startups that has now acquired the status of a Unicorn Startup in India.

    Myntra

    Founded: 2007
    Founder: Mukesh Bansal, Ashutosh Lawania, Sankar Bora, Raveen Sastry, and Vineet Saxena
    Headquarters: Bengaluru

    It is a marketplace over the internet that belongs to the industry of retailing. Myntra was founded in 2007 and has headquarters in Bengaluru. The founders are Mukesh Bansal, Ashutosh Lawania, Sankar Bora, Raveen Sastry, and Vineet Saxena.

    It enables the customers to purchase a great range of products. The products include apparel, lifestyle, accessories, mugs, and more.

    Flipkart

    Founded: 2007
    Founder: Sachin Bansal and Binny Bansal
    Headquarters: Bengaluru

    The most prominent names when it comes to retail in India. Flipkart was established in the year 2007. Founders are Sachin Bansal and Binny Bansal. The headquarters is in Bengaluru. The company was acquired by Walmart in 2018.

    The platform offers products in multiple categories and varieties. It offers products from domestic as well as foreign brands.

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    Paytm Mall

    Founded: 2016
    Founder: Vijay Sharma
    Headquarters: Bengaluru

    It is another digital retail startup founded in the year 2016. Paytm mall provides many domestic and foreign products. Vijay Sharma is the founder. The headquarters is in Bengaluru.

    The platform allows the customers to purchase many products at reasonable prices. The products include apparel, furnishing, electronics, and many more.

    Blinkit

    Founded: 2013
    Founder: Saurabh Kumar and Albinder Dhindsa
    Headquarters: Gurugram

    Blinkit (previously known as Grofers) is an online supermarket established in the year 2013 by Saurabh Kumar and Albinder Dhindsa. The headquarters of the startup is in Gurugram, Haryana. This grocery delivery platform links the consumers with local stores.

    When it comes to retail startups, Blinkit is sure to be a prominent name. It provides a great variety of products. These include foodstuffs, fruits and vegetables, bakery, beauty, and more.

    Lenskart

    Founded: 2010
    Founder: Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi
    Headquarters: Faridabad

    It is an Indian eyewear marketplace established in the year 2010. The founders are Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi. The headquarters is in Faridabad, Haryana. This allows customers to have direct access to their preferable eyewear.

    Lenskart offers more than 5000 styles of various eye-wear products. These include contact lenses, spectacles with prescriptions, accessories, etc. It has also opened around 1000 offline stores and is one of the quickest-growing retail startups in India.

    Sugar Cosmetics

    Founded: 2012
    Founder: Vineeta Singh and Kaushik Mukherjee
    Headquarters: Mumbai

    It is an operator of an online retail platform for cosmetics. It came into existence in the year 2012. Founders are Vineeta Singh and Kaushik Mukherjee. The headquarters is in Mumbai. The products offered by Sugar Cosmetics are available online and in offline stores too.

    It offers a great collection of cosmetic products like lipsticks, eyeliners, concealers, and many more. It is the quickest growing startup in the field of beauty in India.

    Bombay Shaving Company

    Founded: 2015
    Founder: Shantanu Deshpande and Rohit Jaiswal
    Headquarters: New Delhi

    It is a specialty retailer of grooming products for both men and women. It was founded in the year 2015 by Shantanu Deshpande and Rohit Jaiswal. The operational center is in New Delhi.

    The startup’s products have become a popular choice of many. Its products include razors, lotions, grooming kits, and more.

    Chumbak

    Founded: 2010
    Founder: Vivek Prabhakar and Shubhra Chadda
    Headquarters: Bengaluru

    It is a design-based retail startup established in the year 2010. The founders are Vivek Prabhakar and Shubhra Chadda. The main center of operations is in Bengaluru. The products are influenced by the world’s different forms of art and culture.

    It also has various offline retail stores. It provides an enormous variety of products. These include home décor, gifting and lifestyle, apparel, and more. The retail startup is super popular for its fun and colorful products.

    FirstCry

    Founded: 2010
    Founder: Amitava Saha and Supam Maheshwari
    Headquarters: Pune

    It is an online retailer that offers more than two lakhs of baby care and kids products. It came into existence in the year 2010. Founders are Amitava Saha and Supam Maheshwari. The main office is in Pune. Firstcry offers products through both online and offline stores.

    The customers get to have its products easily and at reasonable rates. It offers many different products. These include children’s apparel, footwear, toys, gifts, accessories, and many more.

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    Pepperfry

    Founded: 2011
    Founder: Ashish Shah and Ambareesh Murty
    Headquarters: Mumbai

    It is a retail startup that deals in furniture and home merchandise. Ashish Shah and Ambareesh Murty established it in the year 2011. The headquarters is in Mumbai. It provides products from its own brand as well as from others.

    Pepperfry provides a large number of different products in its online furniture marketplace. These include home decorations, kitchen items, furniture, and more.

    Sleepy Owl

    Founded: 2016
    Founder: Ajai Thandi, Arman Sood, and Ashwajeet Singh
    Headquarters: New Delhi

    It is an internet retail startup established in the year 2016. It deals in coffee products. The founders of it are Ajai Thandi, Arman Sood, and Ashwajeet Singh. The main office is in New Delhi.

    Its coffee products are super famous and relished by many as these are made from arabica beans. It sells its products online and also has many outlets in different cities in India.

    Licious

    Founded: 2015
    Founder: Vivek Gupta and Abhay Hanjura
    Headquarters: Bengaluru

    The specialty retail startup offers top-quality meat products. It came into existence in the year 2015. The founders are Vivek Gupta and Abhay Hanjura. The headquarters is in Bengaluru.

    Licious ensures the online delivery of a range of fresh meat products to the customers. The products include chicken, seafood, lamb, etc.

    Arzooo

    Founded: 2016
    Founder: Khushnud Khan and Rishi Raj Rathore
    Headquarters: Bengaluru

    It is an Indian retail tech startup established in the year 2016. Khushnud Khan and Rishi Raj Rathore are the founders of Arzooo. The operational center is in Bengaluru. The startup is a provider of a great collection of electronic products.

    The platform supports opposite auctions where instead of buyers, the sellers tend to propose the price for which they are ready to sell. This helps people to have a fair price for their selected products.

    Faasos

    Founded: 2011
    Founder: Jaydeep Burman and Kallol Banerjee
    Headquarters: Pune

    It is a retail food-providing startup started in the year 2011. Founders are Jaydeep Burman and Kallol Banerjee. The headquarters is in Pune. Faasos offers a cloud-kitchen and dark kitchen model that provides food.

    It runs more than 160 kitchens to provide meals to consumers. Whether you want biryani or your favorite dessert, the startup enables you to get it in no time.

    DroptheQ

    Founded: 2019
    Founder: Vaibhav Singhal, Nikhil Monga, and Swati Agarwal
    Headquarters: Noida

    It is a retail and food-tech venture founded in the year 2019. The founders are Vaibhav Singhal, Nikhil Monga, and Swati Agarwal. The headquarters is in Noida, Uttar Pradesh. It enables people to straight-up place orders from the partner stores through the app.

    As the name suggests, it eases up the shopping experience for users without waiting in the checkout queues.

    MeatRoot

    Founded: 2014
    Founder: Mohit Bhonde, Vrushali Babar, and Shrikant Babar
    Headquarters: Pune

    It is a retail startup for meat products founded in the year 2014. The founders are Mohit Bhonde, Vrushali Babar, and Shrikant Babar. The headquarters is in Pune. The startup is an online store for fresh, frozen, and processed meat.

    It offers products like seafood, chicken wings, exotic meat, pork, duck, goat meat, boneless chicken, and more.

    DealShare

    Founded: 2018
    Founder: Vineet Rao, Sourjyendu Medda, and Sankar Bora
    Headquarters: Jaipur

    It is an online purchasing startup founded in the year 2018. Its main office is in Jaipur, Rajasthan. Vineet Rao, Sourjyendu Medda, and Sankar Bora are the founders. Its platform provides a great variety of products to the customers.

    It allows people to purchase products easily and at cheaper rates. The products offered include fruits, vegetables, accessories, furnishings, etc.

    Healthkart

    Founded: 2011
    Founder: Sameer Maheshwari and Prashant Tandon
    Headquarters: Gurugram

    It is a specialty retail startup established in the year 2011. Healthkart focuses on providing genuine health and nourishing supplements. The founders are Sameer Maheshwari and Prashant Tandon. The main office is in Gurugram, Haryana.

    It allows customers to get everything related to fitness at one stop. It offers protein, vitamin supplements, products for weight loss, personal trainers, and more.

    Zeno Health

    Founded: 2017
    Founder: Siddharth Gadia and Girish Agarwal
    Headquarters: Mumbai

    Zeno Health (earlier Generico) is a pharmacy retail startup established in the year 2017. The founders are Siddharth Gadia and Girish Agarwal. The headquarters are in Mumbai. It operates a chain of retail pharmacy stores to offer generic medicines at a reasonable price.

    It offers great-quality medicines and also has a team of drugstore advisors at its stores. The main aim of this retail startup is to make healthcare more reachable and economical.

    Conclusion

    The startups are growing strong in India. One of the most important industries that have been seeing a great rise in terms of startups is the retail industry. In modern times, Indian customers are becoming more and more comfortable with online shopping. This helps them to have more variety and also cuts the role of middlemen.

    Over the years, many retail startups like Myntra, Nykaa, Pepperfry, and the other above-mentioned have made great progress. These startups are transforming the traditional ways of retail business. These are sure to grow further and also inspire new startups in the field.

    FAQs

    Which are the top retail startups in India?

    Top Retail startups in India are:

    • Nykaa
    • Myntra
    • Flipkart
    • Paytm Mall
    • Blinkit
    • Lenskart
    • Sugar Cosmetics
    • Bombay Shaving Company
    • Chumbak
    • FirstCry

    Which is the largest retailer in India?

    Reliance Retail is the largest retailer in India.

    Which is the world’s largest retailer?

    Amazon and Walmart are the world’s largest retailer.

  • Future Group – Creating And Executing Future Scenarios In The Consumption Space

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Future Group.

    Supermarkets in India are unusual in various aspects, owing mostly to the range of customers and, as a result, the retail sector’s different distribution strategies. The food business in India works throughout channels, from mom-and-pop shops to major supermarkets to online grocery stores.

    We all have heard about the Big Bazar, one of the largest Indian retail chains of hypermarkets. All groceries, food, clothing, and retail stores are united underneath one rooftop. The retail chain of the company was founded by Kishore Biyani’s parent firm, Future Group, which is well-known in the Indian fashion and retail sectors.

    Kishore Biyani founded the Future Group, an Indian firm headquartered in Mumbai, Maharashtra. With prominent grocery chains like Big Bazaar, as well as lifestyle outlets like Brand Factory and Central, the firm is well-known in the Indian fashion and retail industries.

    Future Group – Company Highlights

    Startup Name Future Group
    Headquarters Mumbai, Maharashtra, India
    Industry Conglomerate
    Founders Kishore Biyani
    Founded 1987
    Products/Services Retailing, Insurance, Logistics, Integrated foods, FMCG
    Website www.futuregroup.in

    About Future Group and How it Works?
    Future Group – Industry
    Future Group – Name, Logo, and Tagline
    Future Group – Founders
    Future Group – Startup Story
    Future Group – Mission, and Vision
    Future Group – Operations, and Subsidiaries
    Future Group – Business Model
    Future Group – Joint Ventures
    Future Group – Competitors
    Future Group – Controversies

    About Future Group and How it Works?

    Future Group, an Indian conglomerate, is well-known in the Indian fashion industries and retail, including prominent supermarket chains such as Big Bazaar, as well as lifestyle boutiques such as Brand Factory. The company is also well-known in the FMGC and integrated foods production industries.

    Future Group is a business conglomerate that manages practically all of its operations through its several operational entities depending on target industries. For instance, its retail business segment, Future Retail Limited, operates retail hypermarket or supermarket chains Big Bazaar (now owned by Reliance), FBB, Food Hall, Food Bazaar, Hometown, and others, while its clothing and fashion outlets Central, Brand Factory, and Planet Sports are run by another one of its business units, Future Lifestyle Fashions Limited. Furniture is sold at HomeTown stores around the country as well as digitally.

    The Future Group also advertises its style and sporting brands such as Indigo Nation, Lombard, Spalding Bare, and FMCGs such as  Clean Mate, Tasty Treat,  Fresh, Ektaa, & Pure, Sach, Premium Harvest, and others through these numerous retail boutiques and supermarkets. It has operational firms that handle internal financial concerns and consultancy for the rest of the company.

    Future Group – Industry

    Future Group is a conglomerate or a multi-industry company.

    Retail:

    The retail industry in India is expected to increase to $1.5 trillion by 2030, up from $0.793 trillion in 2020, due to social-economic reasons such as industrialization, rising incomes, urbanization, and the expansion of nuclear families. The Indian e-commerce market, on the other hand, is anticipated to reach $350 billion by 2030, with a CAGR of 23%.

    Financial Services:

    India’s financial industry is broad and quickly increasing, both in terms of new entrants and the robust expansion of current financial services organisations.

    The industry includes commercial banks, insurance companies, co-operatives, pension funds, mutual funds, and other smaller investment companies. The banking regulator has recently approved the establishment of new firms, such as payment banks, extending the sorts of entities that operate in the market. Nonetheless, India’s financial business is predominantly a banking sector, with commercial banks accounting for about 64% of the total capital in the financial system.

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    Future Group – Name, Logo, and Tagline

    Company Logo of Future Group
    Company Logo of Future Group

    According to the Future Group’s website, more than two million people visit their digital networks and stores every day to explore their product brands and collaborate with them in procuring, producing, and transporting items that meet the requirements and ambitions of a newer or future India. This is where their name is derived from.

    Future Group’s tagline says, “Shaping India’s consumption journey.”

    Future Group – Founders

    Kishore Biyani founded the Future Group in 1987.

    Kishore Biyani - Founder of Future Group
    Kishore Biyani – Founder of Future Group

    Kishore  Biyani

    Kishore Biyani, began his career selling stone-wash denim fabric in Mumbai in the 1980s. He is the CEO and creator of Future Group, as well as Big Bazaar and Pantaloon Retail, two retail firms. His ambition was to make something that only the wealthy could purchase available to everyone.

    He planned to develop his own brands and commerce channels, and spend extensively on building the country’s top consuming ecology in the near future. Along the way, he invested in and mentored a number of other entrepreneurs and companies. He exemplifies the company’s motto, ‘Rewrite Rules, Retain Values,’ and believes Indianness to be the organization’s fundamental value.

    Future Group – Startup Story

    Kishore Biyani, the founder of Future Group, started working at his father’s, brothers’, and two elder cousins’ fabric-trading firm, “Bansi Silk Mills,” but was disillusioned and dissatisfied with the way they operated the company. Kishore noted that several of his friends used to wear “stonewashed” cloth pants at that time.

    His first entrepreneurial breakthrough came when he discovered a local fabric producer who specialised in that type of cloth and marketed it to garment manufacturers and distributors in the city. In 1983, he established his own company, ordering the production of attractive cloth for sale to garment makers.

    Pants were once known as “Patloon” in Hindi, from which they derived their brand name Pantaloon. Kishore later founded the Future Group to give his “Pantaloon” brand a new dynamic. Using a franchise concept, he developed the “Pantaloon” brand into retail. Afterwards, when, in 2001, the basis for Big Bazaar was established,  Future Group added a slew of new brands, including Home Town, Ezone, Factory, Food Bazaar, Central, and Fashion at Big Bazaar.

    Kishore listed 60 percent of his firm on the Indian stock market to acquire funding for retail upgrades, development, and advertising in 1992. By 1994, the Pantaloon franchise company had grossed 9 million rupees.

    Biyani built his debut department store in Kolkata in August 1997, first renting and remodelling a 10,000 square foot space. This retail chain was much more than double the size of any other in Calcutta, and within three weeks, he opened 2 more such market stores. In 2001, he expanded his success by creating a network of retail establishments under the Big Bazaar nameplate. There were more than 100 Big Bazaar outlets around the country by 2009.

    The Big Bazaar shops were purposefully built to seem chaotic, similar to the classic market stalls that his consumers were already used to. The Big Bazaar shops serve over two million consumers every week, while Pantaloon Retail employs over 30,000 people and has over 12 million square feet of retail space spread over 1100 locations in 75 cities. Every year, more than 300 million people, or one-fourth of the public, visit or return to the Big Bazaar outlets.

    Future Group – Mission, and Vision

    Future Group’s mission statement says, ” We share the vision that our customers and stakeholders are best served by creating and executing future scenarios in the consumption space leading to economic development.

    We will be the trendsetters in evolving consumer brands and delivery formats and by making consumption affordable for all customer segments. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost-conscious and committed to quality in whatever we do.

    We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.”

    The organisation shares the vision and belief that the best way to serve its customers and stakeholders is to create and implement future consumption scenarios that contribute to economic progress.

    Future Group – Operations, and Subsidiaries

    Financial Services:

    • Future Ventures
    • Future Generali India Life Insurance
    • Future Capital Holdings (for internal financial services)
    • Future Generali General Insurance

    Retail:

    • Future Lifestyle Fashion Ltd
    • Swathi Tiffin Shop
    • Future Retail Ltd
    • Future Enterprises Limited
    • Foodhall
    • Future Consumer Limited

    Other Services:

    • Future Brands
    • Future Innoversity
    • Future Supply Chains

    Future Group – Business Model

    Being in the industry of multi-brand retailing commerce is the company’s primary focus. There are roughly 20 small hypermarket easyday outlets and over 210 supermarket easyday stores available to the organisation.

    Value business and home business are the two most common retail models. Food Bazaar, a supermarket;  Big Bazaar, a hypermarket; Food Hall, a supermarket;  FBB, a fashion destination; and Easyday convenience stores, are all part of the company’s revenue operation. eZone, a consumer durables and electronics chain and Hometown, a one-stop shop for home renovation, are two of the company’s home businesses.

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    Future Group – Joint Ventures

    Generali Group

    Italy-based Generali is an insurance firm that operates in India under the Future Generali Insurance brand.   In India, Future Generali is represented by two legal entities: Generali India Insurance Co. Ltd. (Non-Life Insurance) and  Generali India Life Insurance Co. Ltd. (Life Insurance).

    Celio

    Celio, a French fashion house, first entered the Indian market in 2008 in a 50:50 joint venture with Pantaloons Retail India Ltd, a subsidiary of Future Group (now Future Retail Ltd). Celio increased its interest in the joint venture to 65 percent in November 2013.

    Clark

    C&J Clark International Ltd. is accessories and footwear retailer established in the United Kingdom. The Future Group and Clarks Future Footwear Ltd have a 50:50 joint venture.

    Staples Inc

    Under a joint venture with Future Group, Staples Inc., a US-based office supplies store, has a presence in over nine cities in India.

    FabFurnish

    FabFurnish joined a Future Group company in April 2016.

    Skechers

    In 2012, Skechers entered India with a joint venture with Future Group. Skechers bought out Future Group’s 49 percent ownership in February 2019, bringing the joint venture to a close.

    Future Group – Competitors

    DMart, More, Spencer’s Retail Limited, Bigbasket, Reliance Retail, Star Market, Nature’s Basket, Mahindra, Hypercity, and Peppertap are the top ten competitors in Future Group’s competitive group.

    Future Group – Controversies

    • Future Group and its founder Kishore Biyani are accused by the Jeff Bezos-led e-tailer of disobeying an interim decision issued by a Singapore arbitration court in October, which blocked the asset sale. Amazon has also urged an Indian court to imprison Biyani and has requested local regulators not to accept the Future-Reliance agreement while the arbitration is still ongoing. Amazon charged Future Group of violating provisions of a mutual agreement by publicizing an asset sale transaction with Reliance, the conglomerate led by Mukesh Ambani, in early October 2021.
    • Drowning in debt, Future Retail Ltd (FRL) announced in April 2022 that it has missed the deadline for repaying lenders Rs 5,322.32 crore due to continuing lawsuits with e-commerce giant Amazon and other concerns. This pushed Reliance Industries’ retail arm, Reliance Retail Ventures, to seek an amendment of the agreement’s long-stop date in order to complete the agreement with the Future Group.
    • The halt on the arbitral process between Amazon and Future Group before the Singapore International Arbitration Centre was removed by the Supreme Court of India in April 2022. Future Retail’s request for a stay of proceedings before SIAC will also be heard on a priority basis, according to the Bench. According to the Supreme Court’s judgement, the interim motion will be sent to the Delhi High Court, where proceedings have already commenced, as agreed by both companies.

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    Future Group – FAQs

    What does Future Group do?

    With prominent grocery chains like Big Bazaar, as well as lifestyle outlets like Brand Factory and Central, the firm is well-known in the Indian fashion and retail industries.

    Who founded Future Group?

    Future Group was founded by Kishore Biyani.

    Which companies do Future Group compete with?

    DMart, More, Spencer’s Retail Limited, Bigbasket, Reliance Retail, Star Market, Nature’s Basket, Mahindra, Hypercity, and Peppertap are the top ten competitors in Future Group’s competitive group.

  • List of Private Companies That Manufacture Defence Equipment in India

    Indian military is one of the world’s most advanced and High-tech military, with a vast number of military personnel serving actively and in reserves. With the increase in threat from neighboring countries such as China and Pakistan, the Indian military has prepared themselves accordingly. The government Companies such as Hindustan Aeronautics Limited and DRDO are the base developers of military equipment. Along with them, the ordnance factories work hand in hand to provide quality arms.

    But in India, the private players have always contributed to the design and development of modern warfare equipment. Most of these companies are well-known Indian Multinational companies trusted across India. From Ammunition to Shipbuilding and from small devices to large bulletproof armored carriers, private players always work as a backbone for the defense industry in India.

    Private Companies Manufacturing Defence Equipment in India

    1. TATA
    2. Reliance
    3. Mahindra
    4. Adani
    5. Kalyani Rafael Advanced Systems
    6. Larsen and Toubro
    7. Ashok Leyland
    8. Alpha Design Technologies Pvt Ltd.

    How profitable will be the private sector for the Indian defense industry?
    Conclusion
    FAQs

    Top Defence Manufacturing Companies In India

    TATA

    TATA Defence Equipment Manufacturing Company
    TATA Defence Equipment Manufacturing Company

    When it comes to manufacturing, we cannot forget the name TATA. Probably the most trusted company in India, TATA has manufactured a wide range of defense equipment for Years. The TATA Advanced systems limited(TASL) delivers quality missile systems, radar systems, UAVs, and other security solutions to the Indian military forces. Tata Power SED helps in the upgrade of defense equipment. Also, it provides digital software engineering solutions to the armed forces, border security sensors, underwater naval equipment, etc.

    Apart from these, who doesn’t remember the TATA armored trucks used for several years? The TATA Aerospace and defense helps in the development of Aerospace defense equipment. Also, TATA has manufactured and designed armored vehicles for the Indian Army.

    Reliance

    Reliance Industries Defence Equipment Manufacturing Company
    Reliance Industries Defence Equipment Manufacturing Company

    Reliance group is known to all for its widespread business and manufacturing across India. The Reliance Naval and Engineering Limited of Reliance Industries has one of the largest engineering infrastructures in the world.

    Reliance Naval group helps in Naval systems development and Shipbuilding. It owns a large shipbuilding facility with a dry dock. The Navy and coast guard of India has got modern Hi-tech simulators and Weapons from Reliance Naval. Also, Reliance Naval is the first private company to receive contracts from the Government to build giant warships.

    Mahindra

    Mahindra Defence Equipment Manufacturing Company
    Mahindra Defence Equipment Manufacturing Company

    The Mahindra group has manufactured defense vehicles for a long time in India. In today’s date, the Mahindra group has expanded its services in the defense sector. Along with armored carriers made for the Indian Army, the Mahindra group grows in other formats. Mahindra Aerospace is owned by the Mahindra Group and focuses on aerospace solutions related to the defense industry. The group mainly focuses on Utility aircraft and aerospace structural developments. This group is also associated with the production of quality steel products for the same.

    Some of the well-known defense equipment by the Mahindra group are communication systems, border security solutions, radars, mine-protected vehicles, etc.

    Adani

    Adani Defence Equipment Manufacturing Company
    Adani Defence Equipment Manufacturing Company

    The Adani group is one of India’s largest conglomerate companies. The Adani group has been an active participant in manufacturing and delivering quality defense equipment. The Adani Aero Defence and technologies limited has excellence in military design and systems integration services. The Adani defense manufactures UAVs and exports them to global markets as well as for usage In India. Along with this, the group also manufactures small arms for the military.

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    Kalyani Rafael Advanced Systems

    Kalyani Group Defence Equipment Manufacturing Company
    Kalyani Group Defence Equipment Manufacturing Company

    The Kalyani Group is an Indian private company partnered with the Israeli Rafael Advanced systems to manufacture defense-related equipment. Recently the company received their BARAK missile kits for both the Indian Army and the Air force.

    The Kalyani Group has partnered with some other companies to build a robust military infrastructure in n India. The group also got the responsibility to manufacture the ATAGS Howitzer guns for the Army. Bharat Forge under the Kalyani group develops and manufactures Armoured vehicles for the Army. Also, it Serves its technology in the aerospace sector.

    Larsen and Toubro

    Larsen & Turbo Defence Equipment Manufacturing Company
    Larsen & Turbo Defence Equipment Manufacturing Company

    L&T is known across India as a soul engineering and construction company. But Larsen &Turbo also undertakes manufacturing and production of defense-related equipment and weaponry.

    The skilled engineers of L&T manufactured Missile systems and launchers for the Indian military for years. Also, it helps in the design of many weapons and systems by working along with DRDO.

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    Ashok Leyland

    Ashok Leyland Defence Equipment Manufacturing Company
    Ashok Leyland Defence Equipment Manufacturing Company

    The solid and rigid stallion troop carriers are one of the best military vehicles offered by Ashok Leyland’s Defence wing. Ashok Leyland has manufactured thousands of pages, such as big armored trucks for the Indian Army. Ashok Leyland’s Diesel engines provide power to boats and generators for the military.

    The group has also developed Mine protected vehicles and logistical support vehicles with modern technology available. Also, the group has supported the Artillery regiment by manufacturing cars for them to carry the artillery.

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    Alpha Design Technologies Pvt Ltd.

    Alpha Design Technologies Defence Equipment Manufacturing Company
    Alpha Design Technologies Defence Equipment Manufacturing Company

    The Make in India project and India’s Government’s exposure to private entities have proven fruitful. Alpha Design technologies will produce electronic gears, assembly lines, simulators, and many defense-related structures for the Indian defense forces. Many other private companies (small and medium scale) also manufacture several small and essential equipment for the defense industry and support these private giants.

    How profitable will be the private sector for the Indian defense industry?

    Private companies are not new to the Indian defense market. Since the beginning, the Army, Navy, and Air force have been using equipment manufactured by private entities. But with extensive modernization and technology development, private companies are becoming necessary to support the defense industry.

    With much more equipped infrastructure, better manufacturing capabilities, International collaborations, ànd a skillful workforce, the private players will be a gift for the Government. In today’s date, many new defense-related startups are emerging and are collaborating with private giants. The private sector also acquisitions a few public sector defense facilities to expand their production, resulting in much more advancement.

    The private players are stepping in to make India a massive market for indigenous production by manufacturing new weapons and vehicles such as Kalyani M4 vehicles, ATAGS Howitzers, Surveillance radars, and many more.

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    Conclusion

    With time, the Indian defense forces are getting more and more equipped with modern weapons and vehicles. India till today also has a high import rate in defense products, but the exports are comparatively lower. The private players will prove to be the most significant part of the military development in India. The Government, on its part, is putting its best efforts into introducing private entities in many defense-related fields and hopes to become fruitful shortly. And our defense forces will become more robust shortly with these developments for sure as it’s just the beginning.

    FAQs

    What are the Defence equipment manufacturing companies in India?

    Here are the list of defence equipment manufacturing companies in India:

    Private Companies

    • TATA
    • Reliance
    • Mahindra
    • Adani
    • Kalyani Rafael Advanced Systems
    • Larsen and Toubro
    • Ashok Leyland
    • Alpha Design Technologies Pvt Ltd.

    Government Companies

    • DRDO
    • Bharat Dynamics
    • Garden Reach Shipbuilders & Engineers
    • Bharat Electronics Limited
    • Armoured Vehicles Nigam Limited (AVANI)
    • Hindustan Aeronautics Limited

    What are the equipment needed in Indian Army?

    Some of equipment of the Indian Army includes:

    • Individual Protection Equipment
    • Infantry weapons
    • Vehicles
    • Artillery
    • Missile systems
    • Air defence
    • Aircraft
    • Radar

    How many defence PSUs are there in India?

    There are sixteen Central Public Sector Undertakings under the administrative control of the Department of Defence Production, Ministry of Defence.

  • Zivame – Reshaping The Indian Lingerie Market

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Zivame.

    With male employees wandering around, confused salesgirls, and an air of shame surrounding the process, buying bras in India appears indeed agonizing for women. Zivame was started in 2011 to allow women to shop for intimate apparel without fear of being judged.

    When Richa Kar, the creator of the online lingerie store Zivame, launched her firm in 2011, she set out to alter all of that. We observed the impact of this concept and how it helped women shatter stereotypes along the road. Kar’s site has 5,000 designs, 50 brands, and 100 sizes to choose from, but more notably, it provides shoppers with dignity and privacy.

    Know more about the startup story, founder, business model, funding and investors, etc. of Zivame by reading this article further.

    Zivame – Company Highlights

    Startup Name Zivame
    Legal Name Zivame
    Parent Company Reliance Brands
    Headquarters Bengaluru, Karnataka, India
    Industry E-Commerce, Fashion
    Founders Richa Kar
    Founded May 1, 2011
    Areas Served India
    Current CEO Amisha Jain
    Website www.zivame.com

    About Zivame
    Zivame – Latest News
    Zivame – Industry
    Zivame – Name, Logo, and Tagline
    Zivame – Founders
    Zivame – Startup Story
    Zivame – Vision and Mission Statement
    Zivame – Employees
    Zivame – Business Model, and Revenue Model
    Zivame – Funding, and Investors
    Zivame – Growth
    Zivame – Competitors
    Zivame – Challenges Faced
    Zivame – Future Plans
    Zivame – FAQs

    About Zivame

    Zivame is an online retailer that sells women’s clothing and intimate wear. Women’s lingerie, swimwear, loungewear, nightwear, and associated categories are sold by the firm, which also offers consultancy to assist women to choose economical and branded items, allowing them to get all of their clothing requirements met in one spot, which is, the company’s online portal.

    In August 2011, Zivame, an online lingerie retailer with hundreds of designs for the Indian woman, launched its website. Customers may shop by category, brand, colour, size, and even specify what they wish to wear their lingerie under! Zivame simulates the offline shopping experience by providing extensive product pages, low-cost rapid shipping, and a hassle-free return policy.

    Whether you’re an Indian lady or a male, Zivame is dedicated to providing an online shopping experience that allows people to purchase at their leisure and in the comfort of their own homes. Zivame challenges expectations in the lingerie and e-commerce market by going above and beyond what customers have experienced in traditional lingerie businesses.

    Zivame – Latest News

    November 24th, 2021 – According to the latest regulatory filings to the Registrar of Companies, Actoserba Active Wholesale, which owns the online lingerie store popularly known as Zivame and is now a part of Reliance Retail, reported a 31% drop in sales to Rs 147 crore for 2020-21, while its net loss also decreased by 11% to Rs 42 crore.

    Covid-19 affected Actoserba Active Wholesale’s business and revenue. The firm sells clothes, swimwear,  lingerie, nightwear, sportswear, innerwear, accessories, textiles, fabric, ready-made dresses, and other forms of dress materials wholesale, including through e-commerce.

    Zivame – Industry

    Lingerie purchasing in India has gone a long way, from small crowded stores operated by confused sellers to sophisticated online portals staffed by fitting professionals. While the stigma around lingerie still exists, women have been more comfortable experimenting with and purchasing ‘intimate’ clothing in recent years. To a large measure, if not entirely, this tendency may be attributed to online lingerie businesses.

    Buying intimate wear online allows customers to keep their purchases private and have them delivered surreptitiously; this is one of the primary advantages that online lingerie businesses have over physical stores. Discounts, availability of foreign brands, a wide range of designs, and different size options (from slender to plus size) have all contributed to the growth of the lingerie retail business.

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    Zivame – Name, Logo, and Tagline

    Zivame Logo
    Zivame Logo

    Richa Kar chose to name her company “Ziva”, which is Hebrew for radiance. But Ziva was unavailable, so she chose Zivame, which means “radiant me.”

    Zivame’s tagline says, ‘Love Yourself Inside Out‘.

    Zivame – Founders

    Richa Kar launched Zivame in 2011.

    Founder of Zivame - Richa Kar
    Founder of Zivame – Richa Kar

    Richa Kar

    Richa Kar earned her bachelor’s degree in engineering from BITS Pilani and her master’s degree in business from Narsee Monjee Institute of Management Studies in 2007. After graduating from NMIMS, she worked for Spencers and SAP retail consultancy.

    Spencer’s hired her as a Brand Communications Manager after she completed her MBA. She was quickly promoted and stayed there until 2011 when she was hired as a consultant by SAP. She had the opportunity to work with Limited Brand, the company that owns Victoria’s Secret, during her tenure at SAP. Her meeting with the client was the catalyst for the creation of Zivame.

    Zivame – Startup Story

    Richa discovered that while shopping for lingerie from sellers of the opposite sex, ladies are hesitant to discuss their wants and desires. As a result of this, women have difficulty determining what size and style to wear because no one is there to assist and educate them. She found the solution to the problem while keeping the problem in mind. She created an e-commerce site for women with many categories that would not only bring lingerie to the buyer’s home but also educate them on how to find the best style and fit.

    The company sells more than just lingerie; it also sells women’s clothes, fitness wear, and sleepwear. The company is also recognized for providing exceptional customer service.

    Richa has always maintained a laser-like concentration, approaching product mix decisions as if she were a buyer. Price, quality, immediate and unambiguous feedback on the goods, cash-on-delivery service, and a simple return/exchange policy have all helped purchasers grasp the brand and gain confidence.

    Richa started up her office in 2011 and received her first order 5 hours later. She currently has 2.5 million monthly clients and sells two things in under a minute. Richa Kar’s Zivame journey influenced the entrepreneurial system since her proposal was not unique but also controversial.

    Zivame – Vision and Mission Statement

    Zivame’s vision statement says, “To Offer Every Woman the Confidence, Comfort & Choice She Deserves. Confidence is sexy and we want to help women find it, wear it, and be it every day.”

    Zivame – Employees

    • Amisha Jain – CEO
    • Yash Dayal – Chief Technology Officer
    • Jayesh Nair – Head of Facilities Management
    • Arun Kumar – Associate Director Business Development & Projects
    • Chetna Bhaskar – Creative Director
    • Manab Hembram – Creative Director – Design & Product Development
    • Sirisha Tadepalli – Marketing Director
    • Sourav Kejriwal – Director Finance
    • Aditya Mulay – Regional Sales Manager
    • Astha Sahay – Business Manager – Partner Business Ecom

    Zivame – Business Model, and Revenue Model

    The firm suffered management reshuffles in the early years, and since 2017, it has concentrated on developing sustainably by combining online and physical techniques. As part of its omnichannel marketing approach, Zivame has opened several brick-and-mortar storefronts known as “Fit Studios” around the nation.

    Zivame Store
    Zivame Store

    A completely integrated shopping experience from the physical store to the virtual store, including mobile applications and the entire range of options given by the offline and online worlds, is what an omnichannel marketing strategy entails. The goal is to provide a seamless purchasing experience for them.

    Individuals are more affected by images than by text. Zivame used a lot of attractive photos of their product range, which made it difficult for their target demographic to navigate. All of the bargains are linked on the Facebook page and advertisements, directing people to the website. Visitors’ inquiries were promptly answered.

    Individuals were able to develop a bond with the brand as a result of this. What appears to have worked particularly well for Zivame was its approach to its product range, which allowed clients to select the best match.

    Zivame – Funding, and Investors

    Throughout eight rounds of financing, Zivame has generated a total of $69 million. Their most recent fundraising came through a Secondary Market round on July 28, 2020.

    Date Round Amount Lead Investors
    Jul 28, 2020 Secondary Market – Reliance
    Sep 17, 2019 Venture Round $2.7M Avendus Capital, Zodius Capital
    Apr 9, 2019 Debt Financing ₹600M Trifecta Capital Advisors
    Mar 30, 2019 Series C ₹600M The Allana Group, Zodius Capital
    May 28, 2018 Venture Round – Zodius Capital
    Sep 3, 2015 Series C $40M Khazanah Nasional, Zodius Capital
    Dec 10, 2013 Series B $6M Ronnie Screwvala
    Mar 14, 2012 Series A $3M Chiratae Ventures

    Zivame – Growth

    The firm suffered management reshuffles in the early years, and since 2017, it has focused on developing sustainably by combining online and physical techniques. As a consequence, Zivame’s losses in FY19 decreased by roughly 39%, to INR 19.56 Cr from INR 32.11 Cr in FY18. In the fiscal year 2018-19, the firm recorded total revenue of INR 141.89 Cr and total costs of INR 160.01 Cr, according to the company’s filings.

    In terms of revenue, Zivame’s main source of income is product sales, which totalled INR 137.42 Cr in FY19, up 59.49 per cent from INR 86.16 Cr in 2018. The pace of growth is comparable to what we witnessed last year when the firm reported a 56 per cent increase in sales. In addition, the company’s service sales remained unchanged at INR 48 lakh, while other revenue fell to INR 3.98 crore.

    According to Zivame CEO Jain, the company’s annual run rate for FY20 has reached INR 340 crore. Jain further stated that revenues via Zivame’s mobile application had climbed from 50% of total sales in FY18 to 65 per cent in FY19.

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    Zivame – Competitors

    Top Competitors of Zivame –

    • Shyaway
    • Clovia
    • Boux Avenue
    • Andra Group
    • ThirdLove
    • Adore Me
    • Figleaves
    • Change

    Zivame – Challenges Faced

    “Challenges lay at every point- First with the category itself – There is a lot of discomfort surrounding the lingerie as a category in India. The hushed or the suppressed nature of the category, has led to various myths and misconceptions getting attached to it,” said Kar.

    She went on to say that she was confident that Zivame had the answer to tens of thousands of Indian women’s lingerie issues. However, there was an uneasy ten-second quiet when she informed someone about it. The next stage was to incorporate the business, obtain a payment gateway, and lease office space. Each of these processes was difficult due to the nature of the industry in which the company works.

    In 2015-16, the corporation experienced one of its most significant problems. In the financial year 2016, the company’s overall net loss increased by 84 per cent, amounting to almost 54 crores.

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    Zivame – Future Plans

    “To our astonishment, offline sales have returned to pre-Covid levels a few months ago,” said Amisha Jain, Zivame’s CEO. Reliance Brands is one of the owners of the digital-first retailer, which has opened roughly 24 new outlets in the previous four months and wants to treble the number in 2021.

    “By the end of next year you will see us with about 150 stores and we are going to be expanding through other formats as well,” added Jain.

    According to Zivame CEO, Amisha Jain, the firm is poised for exponential growth in the next years because of technology, analytics, and innovation.

    Zivame CEO - Amisha Jain
    Zivame CEO – Amisha Jain

    She predicted that the firm will increase by more than 75% in the following several years. The firm is focusing on four areas to fuel development, according to Jain: ongoing product innovation, exceptional user experience, omnichannel presence, and its new brand identity.

    Zivame – FAQs

    Is Zivame an Indian brand?

    Yes, Zivame is an Indian online lingerie retailer founded by Richa Kar in 2011.

    Who is the owner of Zivame?

    Richa Kar is the founder of Zivame.

    Is Zivame owned by Reliance?

    Reliance Brands acquired a 15% stake in Zivame and is eyeing to buy a 100% stake in this online lingerie retail brand.

    Which companies do Zivame compete with?

    Top Competitors of Zivame are Shyaway, Clovia, Boux Avenue, Andra Group, ThirdLove, Adore Me, Figleaves, and Change.

  • List of Top 20 Richest People of Asia in 2021

    Even during the pandemic, the net worth of many billionaires have been growing consistently. According to Forbes, the number of billionaires in the Forbes 35th list of the world wealthiest people, the number of billionaires have increased to 2,755, which was 660 more than a year ago.

    Everyone knows that the richest person on the planet is Elon Musk with a net worth of $203.4 billion, followed by Jeff Bezos with $192.2 billion and Bernard Arnault & family with $185.8 billion, as of October 16, 2021. But do you know the top twenty richest people in Asia? According to Bloomberg Billionaire Index and the Forbes Billionaires List, the top 15 richest people in Asia, collectively account to over $500 billion.

    The people in this list are self-made, big tech tycoons and real estate giants. The person who takes the top spot in the list of Asia is none other than India’s richest person, Mukesh Ambani who is the Chairman of the conglomerate, Reliance Industries Ltd. The other high profile billionaires from the continent are Jack Ma, Gautam Adani, Zhong Shanshan, Ma Huateng, Li Ka-Shing, etc. To find out who else made the top 20 according to Forbes.

    1. Mukesh Ambani
    2. Zhong Shanchan
    3. Gautam Adani
    4. Robin Zeng
    5. Ma Huateng
    6. Zhang Yiming
    7. Jack Ma
    8. Li Ka Shing
    9. He Xiangjian
    10. Lee Shau Kee
    11. Colin Huang
    12. Tadashi Yanai
    13. Ding Lei
    14. Wang Wei
    15. Takemitsu Takizaki
    16. Masayoshi Son
    17. Yang Huiyan
    18. Qin Yinglin
    19. Pang Kang
    20. Li Xiting
    Frequently Asked Questions

    Here is the list of the Top 20 Richest People in Asia.

    1. Mukesh Ambani

    Chairman/MD Reliance Industries Ltd
    Net Worth US$100.6 billion (as of October 2021)
    Industry Energy, Telecom, Retail, Petrochemicals, Textiles and Natural Resources
    Country India
    Age 64 (2021)

    Mukesh Ambani
    Mukesh Ambani

    Mukesh Dhirubhai Ambani is an Indian Billionaire Businessman, the Chairman, Managing Director and the largest shareholder of the Reliance Industries Ltd., which is an energy and telecom multinational conglomerate.

    Reliance Industries owns business across India and has its foothold in the industries such as energy, petrochemicals, textiles, natural resources, retail and even telecommunications. The company is also in the list of the Fortune Global 500 Company and is the country most valuable company as per its market value.

    Ambani is credited for creating Jio, an affordable 4G phone service in India. The billionaire also owns an Indian Premier League team known as the Mumbai Indians and also has a property worth more than $400 million. As of 16th October 2021, Mukesh Ambani is the richest person not only in India but also Asia with a net worth of US $100.6 billion and is also the 11th richest person in the world. The head honcho of Reliance India Limited has joined the coveted club of billionaires with a fortune of at least $100 billion on 8th October 2021, Friday, following the rapid rise of the stocks of the conglomerate.

    2. Zhong Shanchan

    Founder/ CEO Nongfu Spring
    Majority stake holder Beijing Wantai Biological Pharmacy Enterprise
    Net Worth US$71.6 billion (as of 28th May 2021)
    Industry Beverage and Pharmacy
    Country China
    Age 67

    Zhong Shanshan
    Zhong Shanshan

    Zhong Shanshan is a Chinese billionaire businessman, the founder and chairman of Nongfu Spring which is a popular beverage company in China and a majority stake holder of Beijing Wantai Biological Pharmacy Enterprise.

    Nongfu Spring is a bottled water and beverage company that went public in September 2020, the company recently tripled its value to $85 billion. As of 16th October 2021, the net worth of Shangshan is $71.6 billion, making him the richest person in China, the 2nd richest person in Asia after Gautam Adani.

    He became the second richest person in Asia due to the recent stock listing of Nongfu and also because Wantai Biological managed to tap into the high demand of Covid 19 kits. Zhong Shanshan is also known to have accumulated his wealth the fastest in history, according to Bloomberg.

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    3. Gautam Adani

    Founder/ CEO Adani Group
    Net Worth US $75.20 billion (as of October 2021)
    Industry Resources, Logistics, Energy, Energy, Defence, Aerospace, Real Estate, Financial, etc.
    Country India
    Age 59 (2021)

    Gautam Adani
    Gautam Adani

    Gautam Shantilal Adani is an Indian Billionaire Industrialist, the Founder and Chairman of the Adani Group. Adani Group is an Indian multinational conglomerate that has diverse businesses across the industries of resources, logistics, energy, energy, defense, aerospace, real estate, financial, etc.

    Adani Group has an annual revenue of more than US $13 billion with operations in more than 50 countries. Adani is especially known for being a port developer and operator and is known for having the largest port in the country known as the Mundra port.

    As of 2018, Gautam Adani has over 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission. As of 16th October 2021, Gautam Adani has a net worth of US $75.20 Billion, making him the second richest person in Asia. He had recently overtaken Chinese bottled water producer, Zhong Shanshan in September 2021.

    4. Robin Zeng

    Founder/ Chairman Contemporary Amperex Technology
    Net Worth US $50.70 billion (as of October 2021)
    Industry Automotive Li-ion Batteries, Energy Storage Systems, Battery Recycling
    Country China
    Age 53 (2021)

    Robin Zeng
    Robin Zeng

    Robin Zeng also known as Zeng Yuqun is a Chinese billionaire entrepreneur, the Founder and Chairman of Contemporary Amperex Technology (CATL).

    The CATL is well known Chinese’s battery manufacturer and Technology Company that specializes in making lithium-ion battery for electric vehicles, battery management systems. Zeng is among the richest people in China and in Asia. With a net worth of $50.70 billion, he recently overtook Jack Ma, as per the reports dated October 16, 2021.

    5. Ma Huateng

    Chairman/MD Tencent Holdings
    Net Worth US$49.10 billion (as of October 2021)
    Industry Technology
    Country China
    Age 49 (2021)

    Ma Huateng
    Ma Huateng

    Ma Huateng, also known as Pony Ma is a Chinese Billionaire Businessman, the Founder, Chairman and CEO of Tencent. Tencent is the continent’s most valuable company and one of the largest internet and Technology Company.

    Besides , Tencent is also one of the biggest investment, gaming and entertainment conglomerate in the world known for developing China’s instant messaging app called WeChat. According to Time magazine Ma Huateng is one of the most influencial people in 2018, while Fortune also ranked him as among the top businessmen of the year in 2017.

    The businessman wealth comes from the 9.7% stake in Tencent holdings. He is known to own properties in Hong Kong and art pieces that are worth over US $150 million. As of 16th October 2021, the net worth of Ma Huateng is US $49.10 billion, making him one of the richest people in China and the 5th richest person in Asia.

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    6. Zhang Yiming

    Founder/ Former CEO ByteDance
    Net Worth US $44 billion (as of October 2021)
    Industry Internet Technology
    Country China
    Age 38 (2021)

    Zhang Yiming
    Zhang Yiming

    Zhang Yiming is a Chinese Billionaire Businessman and the Founder of ByteDance and developer for the news aggregator Toutiao and the world renowned video sharing platform TikTok. ByteDance is a Chinese multinational internet tech company known for developing video sharing and social networking sites like TikTok and Douyin.

    ByteDance also developed an app known as Toutiao, which is a platform that delivers news content in various forms. As of 2018, ByteDance has over 800 million daily users across all its content platforms and has been valued at $250 billion as of 2021. According to Bloomberg billionaires index Zhang’s personal wealth is estimated to be around $44 billion.

    Zhang Yiming stepped down from the position of CEO of Bytedance to embrace a new role within the company on 20th May 2021.

    7. Jack Ma

    Founder/ CEO Alibaba Group
    Net Worth US$42.30 billion (as of October 2021)
    Industry Technology, E-commerce, Retail
    Country China
    Age 56 (2021)

    Jack Ma
    Jack Ma

    Jack Ma is a Chinese billionaire businessman, the Founder and former Executive Chairman of Alibaba Group. Alibaba is a Multinational Technology Conglomerate that specializes in E-commerce, retail, technology and offers C2C, B2C and B2B sales, electronic payments, shopping search engines and cloud computing services.

    Alibaba is the world largest retailers and e-commerce companies and has the 6th highest global brand valuation in 2018. Jack Ma was ranked 2nd in the Forbes list of the World 50 greatest leaders and is also a popular philanthropist as he has supported many underprivileged communities in China, Africa, Australia, and the Middle East.

    As of 16th October 2021, the net worth of Jack Ma is US$42.3 billion making him a distinguished billionaire in China and the 7th richest person in Asia.

    8. Li Ka Shing

    Chairman Li Ka Shing Foundation
    Net Worth US $31.80 Billion (As of October 2021)
    Industry Real Estate
    Country Hong Kong
    Age 92 (2021)

    Li Ka Shing is a Hong Kong businessman, an investor and well known philanthropist. He is the senior advisor and former chairman of the board for CK Hutchison Holdings and CK Asset Holdings. Li Ka Shing is 92 years old and is known to be the world leading port investor, developer and operator of the largest health and beauty and retailer in Asia and Europe.

    According to Forbes Hong Kong Fortune league chart, Li Ka Shing became the richest person in Hong Kong in February 2021. Li is often regarded as “Superman li” by the Hong Kong media because of his business prowess, he also is the most influential entrepreneurs in the continent.

    Li presides over a huge business empire that has its foothold in the industries such as transportation, real estate, financial services, retail, and energy and utilities. The billionaire is also a philanthropist that leads a simple life and has donated billions of dollars to charity and causes making him Asia most generous philanthropists.

    As of 16th October 2021, Li Ka Shing net worth is over US $31.80 Billion making him one of the richest person in Hong Kong and among the richest in Asia.

    9. He Xiangjian

    Founder Midea Group
    Net Worth US$31.70 billion (as of October 2021)
    Industry Consumer appliances
    Country China
    Age 79 (2021)

    He Xiangjian
    He Xiangjian

    He Xiangjian is the Co-founder of Midea Group, which is known to be one of the world’s largest appliance makers. Midea Group is electrical appliances manufacturer that has more than 200 subsidiaries.

    The company is known for its products like lighting, water appliance, floor care, small kitchen appliance, laundry, cooking appliance and refrigeration appliances. According to Bloomberg Billionaire Index, Xiangjian was ranked the 44th place as his net worth was $32.7 billion in April 2021.

    Media is also the world largest producers of robots and appliances which is why the company was also listed in the Fortune Global 500 since 2016. He Xiangjian stepped down from the company operation in 2012, but is still one among the richest in China and Asia with a wealth of $32.70 billion.

    10. Lee Shau Kee

    Founder/Chairman Henderson Land Development
    Net Worth US $31.10 billion (as of October 2021)
    Industry Real Estate
    Country Hong Kong
    Age 93 (2021)

    Le Shau Kee
    Le Shau Kee

    Le Shau Kee is a billionaire businessman from Hong Kong, real estate tycoon, founder and former chairman of Henderson Land Development. Henderson Land Development is a well known property conglomerate with stakes in property, hotels, restaurants and internet services.

    The company’s main activities are property development, investment, project management, construction, hotel operation, finance, investment holding and infrastructure. The billionaire controlled over 70.17% of the share capital of the company as of 2015.

    Kee stepped down from the position of chairman in 2019 at the age of 91 and passed the mantel to his sons. Le Shau Kee is one of the richest people in Hong Kong and in Asia. His net worth is estimated to be $31.10 billion, as of 16th October 2021.

    11. Colin Huang

    Founder/ CEO Pinduoduo
    Net Worth US$31.10 billion (as of October 2021)
    Industry E-commerce, Agriculture
    Country China
    Age 41 (2021)

    Colin Huang
    Colin Huang

    Colin Huang also known as Huang Zheng is a Chinese billionaire businessman, the Founder and CEO of Pinduoduo. Pinduoduo is a leading E-commerce and the largest agriculture-focused technology platform in China. Pinduoduo’s main objective is to connect farmers and distributors directly with the consumers and provide an interactive shopping experience.

    Over 600,000 merchants have sold their produce through the platform with more than 12 million farmers supplying their fruits and vegetable to the merchants. According to Bloomberg, the platform has over 628 million customers and made $4.2 billion in 2019. Huang has also founded two other popular internet based companies known as Xinyoudi (a gaming business) and Ouku.com (an e-commerce platform).

    The businessman has grown his wealth steadily in the recent years, climbing the global ranks from number 94 in 2019, to number 57 in 2020, and then 21. As of 16th October 2021, Colin Huang net worth is US$31.10 billion, which makes him the one of the richest people in China and the 11st richest person in Asia.

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    12. Tadashi Yanai

    Founder/ Chairman Fast Retailing
    Net Worth US$32.5 billion (as of October 2021)
    Industry Retail
    Country Japan
    Age 72 (2021)

    Tadashi Yanai
    Tadashi Yanai

    Tadashi Yanai is a Japanese Billionaire businessman, the Founder and President of Fast Retailing. Fast Retailing is public Japanese retail holding company that owns more than a 1000 stores. The company owns popular Japanese subsidiaries like Uniqlo, J brand, Comptoir des Cotonniers, GU, Princesse Tam Tam and Theory.

    He is also the biggest shareholder of Asia’s largest clothing retailer known as Uniqlo. According to Bloomberg Billionaire Index, Tadashi Yanai became the richest person in Japan and the 34th richest person in the world, as his net worth was estimated to be $42.billion as of April 2021.

    However, as of 16th October 2021, the billionaire’s net worth is US $32.5 billion, making him the richest person in Japan and among the richest in Asia.

    13. Ding Lei

    Founder/CEO NetEase
    Net Worth US $29.8 billion (as of October 2021)
    Industry Technology
    Country China
    Age 49 (2021)

    Ding Lei is also known as William ding is a Chinese Billionaire businessman, the Founder and CEO of NetEase. NetEase is Internet Tech Company known for its services like content, community, communications and commerce. The company also develops online PC and mobile games, advertising services and e-commerce platforms in China.

    NetEase is one of the largest internet and video game companies in the world. Besides gaming, NetEase works with other online media entertainment like movies and music. Ding Lei is known to have made many contributions to the development of computer networks in China, while his company work with Blizzard Entertainment and Microsoft subsidiary Mojang.

    According to Bloomberg, the net worth of Ding Lei as of 16th October 2021 is $29.8 billion, making him one of the richest people in China and in Asia.

    14. Wang Wei

    Founder/Chairman SF Express
    Net Worth US $28.8 billion (16th October 2021)
    Industry International express delivery and logistics services
    Country China
    Age 50 (2021)

    Wang Wei is a Chinese billionaire businessman, the Founder and Chairman of SF Express. SF Express is a multinational express delivery services and logistics company. The company is the 2nd largest courier in China as it provides domestic and international express delivery.

    It is also known for the SF Airlines which has a fleet of 50 cargo aircrafts. SF Express began in 2009 and has transported more than two million tonnes of cargo till 2018. This is why the SF Express is known as the “Fedex of China.”

    As of 16th October 2021, the net worth of Wang Wei is US $28.8 billion, making him one among the richest people in China as well as in Asia.

    15. Takemitsu Takizaki

    Founder/Chairman Keyence
    Net Worth $28.5 billion (as of October 2021)
    Industry Technology
    Country Japan
    Age 75 (2021)

    Takemitsu Takizaki is a Japanese bilionaire businessman, founder and chairman of Keyence. Keyence is a well-known manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes.

    The company has many big brands as its clients Toyota, Toshiba, and Volkswagen. Takizaki stepped down as the company chairman but still has a net worth of $28.5 billion, as of 16th October 2021, making him one of the richest people in Japan and Asia.

    16. Masayoshi Son

    Founder/ CEO Softbank
    Net Worth US$28.20 billion (as of October 2021)
    Industry Investment
    Country Japan
    Age 63 (2021)

    Masayoshi Son
    Masayoshi Son

    Masayoshi Son is a Japanese billionaire entrepreneur, the Founder and CEO of SoftBank and also the chairman of the UK based Arm Holdings. Softbank is a well-known Japanese multinational holding company that operates in the areas of broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, etc.

    The company was also ranked 36th in the list of Forbes Global 2000. Masayoshi Son’s net worth is estimated to be $28.2 billion as of 16th October 2021, making him the one of the richest people in Japan and the 16th richest person in Asia. Masayoshi was also ranked as the 45th in the list of Most Powerful People, according to Forbes.

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    Shocking Demerits Of Being Rich
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    17. Yang Huiyan

    Chairman and Majority stake holder Country Garden Holdings and Bright Scholar Education Holdings
    Net Worth US $27.3 billion (as of August 2021)
    Industry Real Estate
    Country China
    Age 40 (2021)

    Yang Huiyan
    Yang Huiyan

    Yang Huiyan is a Chinese billionaire businesswoman, Property developer and a majority stakeholder of Country Garden Holdings, 70% of shares of the company were transferred to her by her father Yang Guoqiang in 2007.

    The Country Garden is a property development company that constructs buildings and manages hotels in China, owned by Yang’s family. The company was ranked 147thin the Fortunes Global 500 list. Country Garden has more than 200 high-end township developments in countries like China, Malaysia, and Australia.

    As of August 2021, Yang Huiyan’s net worth is estimated to be $27.3 billion, making her not only the richest woman in China but also the richest woman in Asia.

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    18. Qin Yinglin

    Founder/Chairman Muyuan Foodstuff
    Net Worth US $25 billion (as of October 2021)
    Industry Food and beverage
    Country China
    Age 56 (2021)

    Qin Yinglin is a Chinese billionaire, founder and chairman of Muyuan Foodstuff. Muyuan is a popular pig breeding and distribution company that breeds and sells pigs and pork products. Qin is known to have started the company with his wife in 1992, and by 2019 the company made $3 billion.

    The agriculture billionaire is known to be the “the country’s largest pig breeder in the world’s biggest pork market”, according to Forbes. Qin is famous as the world’s richest farmer. His net worth is estimated to be $25 billion, as of 16th October 2021. This makes him one of the richest people in China and in Asia.

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    19. Pang Kang

    Chairman Foshan Haitian Flavouring and Food Co.
    Net Worth US $23.80 billion (as of October 2021)
    Industry Food and beverage
    Country China
    Age 65 (2021)

    Pang Kang is a Chinese billionaire businessman and the chairman of a popular food and beverage company known as Foshan Haitian Flavoring and Food Co. The company manufactures a wide variety of sauces and flavoring, it is also the largest manufacturer of Soy Sauce in the world.

    Based in China’s Guangdong providence, the food company made $2.9 billion in 2019, within five years of its launch. Foshan also makes over 200 different condiments such as oyster sauce, hoisin, shrimp, vinegar, and chicken stock.

    As of 16th October 2021, the net worth of Pang Kang is over $23.80 billion, making him one of the richest people in China and in Asia as well.

    20. Li Xiting

    Founder/Chairman Shenzhen Mindray Bio-Medical Electronics
    Net Worth US $21.30 billion (as of October 2021)
    Industry Medical Electronics
    Country Singapore
    Age 70 (2021)

    Li Xiting is a Singaporean billionaire, Founder and former Chairman of Shenzhen Mindray Bio-Medical Electronics. Over the year the billionaire has been one of the pioneers in the world of healthcare. While his company is known to operate in 30 countries and have over 17 subsidiaries.

    Mindray is known for its healthcare devices such as health monitoring systems, ventilators, defibrillators, anesthesia machines and infusion systems. According to Forbes, Li Xiting is the richest person in Singapore in 2020. As of 16th October 2021, the net worth of Li Xiting is $21.30 billion, making him the richest Singaporean and among the richest people in Asia.

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    Frequently Asked Questions

    Who are the top three richest people of the world?

    The top three billionaires of the world are Elon Musk, with a net worth of $203.4 billion, followed by Jeff Bezos with $197.7 billion and Bernard Arnault with $193.2 billion, as of 16th October 2021.

    Who are the top ten richest people of Asia?

    The top ten richest billionaires of Asia are Mukesh Ambani, Zhong Shanchan, Gautam Adani, Robin Zeng, Ma Huateng, Zhang Yiming, Jack Ma, Li Ka Shing, He Xiangjian, Le Shau Kee.

    Who are the other top people of Asia?

    The other top billionaires of Asia are He Xiangjian, Ding Lei, Li Ka Shing, Yang Huiyan, Wang Wei, Pang Kang, Li Xiting, Qin Yinglin and Takemitsu Takizaki.