Indian Economy: News and Discussion

[FalconSlayers]

Grofers becomes a unicorn after Zomato reportedly invests US$ 120 million
IBEF: June 30, 2021

On Tuesday, Grofers, a Gurugram-based grocery delivery start-up reportedly joined the unicorn club, post raising US$ 120 million from Zomato, a food delivery platform. The development has taken the valuation of Grofers to > US$ 1 billion.
Grofers refused to clarify on the report. The company stated, “Currently, we emphasise to do our best to help consumers at the time of pandemic. While we continue to develop technology that enables the grocery ecosystem to make goods more accessible and affordable for millions of Indian households.”
Zomato did not respond instantly on this matter.
In 2020, Zomato reportedly attempted to acquire Grofers, to expand its presence in the grocery delivery space.
According to a new report published by Motilal Oswal, a stock broking house, the online grocery market has registered ~ 30X growth over the last seven to eight years to reach US$ 3 billion.
The report mentions that India has ~ 154 million transacting households. Of which, online grocery solutions users stands at ~ 130 million, generating an addressable market of US$ 293 billion.
The news comes only a week after Mr. Saurabh Kumar, cofounder of Grofers announced his exit from the company. He will remain to be a board member and a shareholder in the company.
The company was founded in 2013 and so far, it has raised ~ US$ 662 million across equity and debt rounds. Its investors include Sequoia Capital India, Bennett Coleman and Co ltd., Trifecta Capital Advisors, Abu Dhabi Capital Group and SoftBank Vision Fund.

 

[FalconSlayers]

Ya'll Nibbiars it's time to focus on the Deep Tech Startup's.

Grofers becomes a unicorn after Zomato reportedly invests US$ 120 million
IBEF: June 30, 2021

On Tuesday, Grofers, a Gurugram-based grocery delivery start-up reportedly joined the unicorn club, post raising US$ 120 million from Zomato, a food delivery platform. The development has taken the valuation of Grofers to > US$ 1 billion.
Grofers refused to clarify on the report. The company stated, “Currently, we emphasise to do our best to help consumers at the time of pandemic. While we continue to develop technology that enables the grocery ecosystem to make goods more accessible and affordable for millions of Indian households.”
Zomato did not respond instantly on this matter.
In 2020, Zomato reportedly attempted to acquire Grofers, to expand its presence in the grocery delivery space.
According to a new report published by Motilal Oswal, a stock broking house, the online grocery market has registered ~ 30X growth over the last seven to eight years to reach US$ 3 billion.
The report mentions that India has ~ 154 million transacting households. Of which, online grocery solutions users stands at ~ 130 million, generating an addressable market of US$ 293 billion.
The news comes only a week after Mr. Saurabh Kumar, cofounder of Grofers announced his exit from the company. He will remain to be a board member and a shareholder in the company.
The company was founded in 2013 and so far, it has raised ~ US$ 662 million across equity and debt rounds. Its investors include Sequoia Capital India, Bennett Coleman and Co ltd., Trifecta Capital Advisors, Abu Dhabi Capital Group and SoftBank Vision Fund.

@Haldilal

 

[Haldilal]

@Haldilal

Ya'll Nibbiars zomato taking Groffers. Afte all it's was long due.

 

[FalconSlayers]

UK-based Tide forays into India, commits Rs. 1,000 crore investment
IBEF: June 30, 2021

On Tuesday, Tide, an UK-based firm announced its entry into the Indian market, by committing an investment worth Rs. 1,000 crore (US$ 134.71 million) over the next five years, to focus on offering administrative and financial solutions to small businesses.
The corporation, which intends to target the small and medium businesses, plans to recruit 1,000 employees in field, software development, product development teams to develop its business.
Mr. Gurjodhpal Singh, the chief executive of Tide India, stated that the company has raised a capital of GBP 100 million and has been gaining substantially from its operations in the UK.
He stated that the company intends to assist small and medium-sized enterprises (SMEs) starting from incorporation to routine conduct of business in a compliant way. In the next five years, the company targets to have 2.5 million SMEs as clients.

Mr. Singh said, “The company is intending to launch a dedicated bank account in collaboration with RBL Bank in a manner that other neo banks do and will also seek to implement its machine learning and artificial intelligence engines to support the SMEs access working capital.”
Mr. Singh stated that Tide plans to function from Hyderabad tech centre, which was began in early 2020 and employs 200 employees, and its business office in Gurugram.
Mr. Singh stated that India is the first market that the company has decided to expand into. The company also plans to take further its services to other countries.

 

[Haldilal]

UK-based Tide forays into India, commits Rs. 1,000 crore investment
IBEF: June 30, 2021

On Tuesday, Tide, an UK-based firm announced its entry into the Indian market, by committing an investment worth Rs. 1,000 crore (US$ 134.71 million) over the next five years, to focus on offering administrative and financial solutions to small businesses.
The corporation, which intends to target the small and medium businesses, plans to recruit 1,000 employees in field, software development, product development teams to develop its business.
Mr. Gurjodhpal Singh, the chief executive of Tide India, stated that the company has raised a capital of GBP 100 million and has been gaining substantially from its operations in the UK.
He stated that the company intends to assist small and medium-sized enterprises (SMEs) starting from incorporation to routine conduct of business in a compliant way. In the next five years, the company targets to have 2.5 million SMEs as clients.

Mr. Singh said, “The company is intending to launch a dedicated bank account in collaboration with RBL Bank in a manner that other neo banks do and will also seek to implement its machine learning and artificial intelligence engines to support the SMEs access working capital.”
Mr. Singh stated that Tide plans to function from Hyderabad tech centre, which was began in early 2020 and employs 200 employees, and its business office in Gurugram.
Mr. Singh stated that India is the first market that the company has decided to expand into. The company also plans to take further its services to other countries.

Ya'll Nibbiars RBL.

 

[ezsasa]

UK got atleast 1 billion $ investment from India in past 3 months, SII new vaccine plant in UK & Bharti airtel recent purchase of stake in Oneweb.

 

[tommy]

Will the recent FDI inflow help the Indians to develop tech or is it the same old screwdrivergiri.

 

[warriorextreme]

- it’s a opinion which obviously demonstrates strong confirmation bias

- India is today where China was in 2004-05 with inherent advantages of digitisation technologies developed after 2004, not 1991 as mentioned in the oped

- author seems to view things based on previous generation globalists, like accepting Chinese version of story as is without independent verification.

- once an oped mentions hindutva, for me it is a clear indication that the author is not interested in objectivity. can guarantee that this author will not have the balls to submit himself to scrutiny via a debate on the points he has written.

You are bang on. The last paragraph in the worthless article says it all:

Regressive Hindutva forces have plunged India into its own “cultural revolution.” Hundreds of millions of Muslims and Dalits are going backwards. Both countries are domestically unequal, but China seems to have made some initial moves to actively tackle this. It possesses wealth and resources to redistribute. India can only share out levels of poverty. The Indian state needs urgent political reform, but how? The country has systemic failure written all over it.

1. They do not have any Idea what Hindutva is (Which is basically cultural term rather than religious and Veer Savarkar who coined it was an atheist). They want us to follow China and put Muslims into detention camps and turn Mosques into Toilets?

2. They blame Hindutva for Muslims going backwards which is true if they think criminalizing Triple Talaq is going backward (but majority of Muslims do like to swim in faeces of the medieval nonsense so the Muslim writer of this column is as always playing Islamist tunes).

3. India has systemic failure written all over it? It is almost as if the writer is smoking some weird shit and knows something that many investors who are pouring in billions of dollars of FDI every year into India are not aware of

 

[Crazywithmath]

The trade war with Cina during Trump era had given them some hope as Cina was looking to open many factories in BD to change the country of origin from cina to BD

But, if trade war eases, I don't know if cina firms would be interested.

I had a detailed chart that explained the number of plants that diversified out of Coronaland, the investments committed by them, the cost of restructuring and shifting supply chains to various nations (India, BD, Thai, Vietnam, Phi, Indonesia etc), the comparison between their logistics and infra, investor confidence and the impact the proposed PLI, growth friendly turn in budget and construction of DFCs and Bharatmala projects might have. It also compared between the incentive structures offered by nations, regulatory compliance factors and supposed protectionist policies (tariff, NTBs, FTAs etc). The analysis was curious. It explained why BD is unlikely to succede diversifying their industry base to other sectors beyond textiles. Their entire industrial policy is pretty much focused on textiles, textiles and textiles. Also, as @Haldilal pointed out it also says that BD are 'overly' protectionist and are yet to undertake basic free market reforms that other competing economies, like- India, Indonesia, Thailand etc took decades back. It also had another curious finding. Contraty to popular belief India really did not turn that protectionist. The average weighted tariff rates remained mostly same and even decreased in some cases since 2014 and the NTBs were also kept mostly untouched. It is countries like Vietnam that turned more protectionist and started imposing NTBs as supply chains started shifting there as a direct consequence of the trade war between Chinks and Burgerboys. I am trying to find those will link here once I get them.

 

[Haldilal]

I had a detailed chart that explained the number of plants that diversified out of Coronaland, the investments committed by them, the cost of restructuring and shifting supply chains to various nations (India, BD, Thai, Vietnam, Phi, Indonesia etc), the comparison between their logistics and infra, investor confidence and the impact the proposed PLI, growth friendly turn in budget and construction of DFCs and Bharatmala projects might have. It also compared between the incentive structures offered by nations, regulatory compliance factors and supposed protectionist policies (tariff, NTBs, FTAs etc). The analysis was curious. It explained why BD is unlikely to succede diversifying their industry base to other sectors beyond textiles. Their entire industrial policy is pretty much focused on textiles, textiles and textiles. Also, as @Haldilal pointed out it also says that BD are 'overly' protectionist and are yet to undertake basic free market reforms that other competing economies, like- India, India, Indonesia, Thailand etc took decades back. It also had another curious finding. Contraty to popular belief India really did not turn that protectionist. The average weighted tariff rates remained mostly same and even decreased in some cases since 2014 and the NGBs were also kept mostly untouched. It is countries like Vietnam that turned more protectionist and started imposing NTBs as supply chains started shifting there as a direct consequence of the trade war between Chinks and Burgerboys. I am trying to find those will link here once I get them.

Ya'll Nibbiars it's not always about free market reforms but about attracting investors on the basis of the Profit and loss. We are still hunted by the ghosts of the Raaj.

 

[fire starter]

 

[fire starter]

 

[sauntheninja]

Large cos log in IFSC GIFT City cutting record offshore deals

“During the pandemic, we have seen a significant surge in business volumes,” said Dipesh Shah, head – development at IFSC, the regulator for Gujarat GIFT City. “Large conglomerates have used IFSC platforms raising finances, which otherwise would have gone to other global centres like Singapore...

economictimes.indiatimes.com

 

[IndianHawk]

@IndianHawk @Haldilal @Bhumihar @ezsasa your opinion?

OP-ED: Does India know it has lost?

India is a generation behind China. When will Delhi’s smart set admit they will not catch up?

www.dhakatribune.com

What has india lost exactly??

India started reforms later than china but now is growing much faster than china . Building roads faster than china , inviting more fdi than china it will eventually surpass china .

China on the other hand has destroyed it's demographics. No Childrens , more and more old people and no future just another japan in making only much bigger and much much poorer.

I am enjoying forums these days without typing much so won't reply further to anyone. Cheers.

 

[FalconSlayers]

What has india lost exactly??

India started reforms later than china but now is growing much faster than china . Building roads faster than china , inviting more fdi than china it will eventually surpass china .

China on the other hand has destroyed it's demographics. No Childrens , more and more old people and no future just another japan in making only much bigger and much much poorer.

I am enjoying forums these days without typing much so won't reply further to anyone. Cheers.

16 Unicorns in India, 3 in china as of today in 2021. Today Zomato made Grofers a Unicorn.

 

[tommy]

16 Unicorns in India, 3 in china as of today in 2021. Today Zomato became a Unicorn.

Do you have the list of 16 Unicorns.

 

[FalconSlayers]

Do you have the list of 16 Unicorns.

1. Zeta
2. Moglix
3. Gupshup
4. Browser Stack
5. Urban Company
6. Five Star Finance
7. Digit Insurance
8. Chargebee
9. ShareChat
10. Groww
11. PharmEasy
12. InfraMarket
13. Meesho
14. Innovaccer
15. CRED
16. Grofers

 

[IndianYonko]

16 Unicorns in India, 3 in china as of today in 2021. Today Zomato became a Unicorn.

Not Zomato; Grofers became unicorn. It was backed by Zomato.

See we are moving up the chain. Zomato filed for IPO recently.

Do you have the list of 16 Unicorns.

Slice raises $20 million to go after the credit card industry in India | TechCrunch

Slice, an Indian fintech startup that has built a “super card” for millennials in India, said on Monday it has raised $20 million in a new financing round

techcrunch.com

Add MindTickle and Grofers

Its diverse too.

 

[FalconSlayers]

Not Zomato; Grofers became unicorn. It was backed by Zomato.

See we are moving up the chain. Zomato filed for IPO recently.

Slice raises $20 million to go after the credit card industry in India | TechCrunch

Slice, an Indian fintech startup that has built a “super card” for millennials in India, said on Monday it has raised $20 million in a new financing round

techcrunch.com

Add MindTickle and Grofers

I corrected it nibba

 

[FalconSlayers]

India’s startup future is very bright, we just need more spending on education, skilling and infra.